Dr. Jack Rasmus. DR.
Mohsen Abdelmoumen: In your very interesting book Epic Recession: Prelude to Global Depression, you make a wise review and provide solutions. Why is the crisis inevitable?
Dr. Jack Rasmus: Because the solutions applied to the last crisis will inevitably lead to a more generalized, and potentially deeper and more serious crisis next time. Here’s how: the excess liquidity injected by the central banks to stabilize the financial markets after 2008-09 has been generating even more debt and debt leveraged investment. That has created financial asset bubbles today in global stocks, junk bonds, leveraged loans, triple BBB (junk) rated investment grade bonds, bubbles in derivatives and other asset markets, commercial real estate, etc. Lire la suite »
Sam Pizzigati. DR.
Mohsen Abdelmoumen: How do you explain that in front of the unprecedented ultraliberal offensive, we see weakened worker movement and trade unions?
Sam Pizzigati: By the traditional benchmarks for measuring union strength, unions in the United States — particularly in the private sector — haven’t been as weak as they rate right now since the 1920s. Just 7 percent of workers in the private sector carry union cards. Across large swatches of the United States, these numbers suggest, private sector unions barely exist anymore. Lire la suite »