Governments around the world who were able put large amounts of money into the financial system to avoid a meltdown. This money has mostly ended up being used to pay of banks debts, who have begun to lend money again, and lately some of this money has been used to boost the stock exchange.
As a result Governements now have even larger debts, which is sure to produce another economic collapse in a year or so. Personal debt and bankcruptcies are still at an all time high.
As a result Governements now have even larger debts, which is sure to produce another economic collapse in a year or so. Personal debt and bankcruptcies are still at an all time high.
The world will suffer another financial crisis, former Federal Reserve chief Alan Greenspan has told the BBC.[1]. This is from a man who admitted that he got it wrong when he was the most powerful financier in the world for over a decade.
So not much has changed. Even bankers are now been paid huge bonuses again. This state of affairs beggrs belief, and one wonders what is going through the mind of the Gorden Browns of this world. See George Monbiot in yesterday´s Guaudian (Need reference)-
The booste will probably last long enough to give Gorden Brown something to bragg about in next years general election, then, I´d put my mortgage on it, if I had one, that the economy will go over the abyss, and open up opportunities to create another world - it´s possible; but how pobably - I dont know.
Harold Hamlet
[1] crisis 'will happen again' - Alan Greenspan - Guardian
http://news.bbc.co.uk/2/hi/business/8244600.stm
So not much has changed. Even bankers are now been paid huge bonuses again. This state of affairs beggrs belief, and one wonders what is going through the mind of the Gorden Browns of this world. See George Monbiot in yesterday´s Guaudian (Need reference)-
The booste will probably last long enough to give Gorden Brown something to bragg about in next years general election, then, I´d put my mortgage on it, if I had one, that the economy will go over the abyss, and open up opportunities to create another world - it´s possible; but how pobably - I dont know.
Harold Hamlet
[1] crisis 'will happen again' - Alan Greenspan - Guardian
http://news.bbc.co.uk/2/hi/business/8244600.stm
