Difference between revisions of "Economic crisis"
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| + | |description=Economic crises are pretty regular events, and are depicted as quasi-natural phenomena such as [[earthquake]]s or [[flood]]s, as if everyone loses as a result of such phenomena. However, real wealth is not destroyed, but is transferred from the financially poor to the financially rich. | ||
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==Official narrative== | ==Official narrative== | ||
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==Bailouts== | ==Bailouts== | ||
| − | The event has been used as an excuse for massive looting - referred to as "[[bailout]]s". Together with inflation of the money supply, this has been carried out it in many countries simultaneously by the amoral financial elite. The net effect has continue the ongoing trends of wealth concentration among the very few who control the global financial system (referred to colloquially as "the 1%", | + | {{FA|Bailout}} |
| + | [[image:Bailout.jpg|left|280px]] | ||
| + | The event has been used as an excuse for massive looting - referred to as "[[bailout]]s". Together with inflation of the money supply, this has been carried out it in many countries simultaneously by the amoral financial elite. The net effect has continue the ongoing trends of wealth concentration among the very few who control the global financial system (referred to colloquially as "[[the 1%]]", although "0.01%" would be a more accurate description).<ref>http://www.truth-out.org/buzzflash/commentary/the-real-threat-to-society-the-01-who-own-nearly-80-percent-of-us-wealth</ref> | ||
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==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||
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Latest revision as of 13:04, 13 September 2024
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| Description | Economic crises are pretty regular events, and are depicted as quasi-natural phenomena such as earthquakes or floods, as if everyone loses as a result of such phenomena. However, real wealth is not destroyed, but is transferred from the financially poor to the financially rich. |
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Contents
Official narrative
The page title of this financial event used to include dates, as if to indicate that the event is past history. Now the official narrative as explained by Wikipedia states that "the exact scale and timing of the recession, and whether it has ended, is debated and varied from country to country".[1] The event is a fiction in as much as the global economic system is a fiction - i.e. to a significant degree. It is always presented by the commercially-controlled media as an economic or financial event - rather than addressing its more serious real underlying causes, such as peak oil.[2]
Bailouts
- Full article: “Bailout”
- Full article: “Bailout”
The event has been used as an excuse for massive looting - referred to as "bailouts". Together with inflation of the money supply, this has been carried out it in many countries simultaneously by the amoral financial elite. The net effect has continue the ongoing trends of wealth concentration among the very few who control the global financial system (referred to colloquially as "the 1%", although "0.01%" would be a more accurate description).[3]
An example
| Page name | Description |
|---|---|
| 2008 Financial Crisis | "an evisceration of some banks by others...a cannibalistic binge billed to the tax-payer"<a href="#cite_note-1">[1]</a> |
Related Quotations
| Page | Quote | Author | Date |
|---|---|---|---|
| Chris Hedges | “The crisis that we face is not so much an economic crisis but a moral crisis. The utter cynicism on the part of very well paid media who have become in essence hedonists of power (which is what courtiers are) that the truth no longer matters, that that sacred contract that a great reporter makes between the viewer or the reader to tell them the truth is no longer relevant.” | Chris Hedges | |
| IGO | “Well after Argentina went bust in 1991 it offered most of its creditors about thirty-five cents on the dollar. About ninety percent of these people accepted that but some of them didn't and they tried to sue the bank In Switzerland because that's where its headquarters, but the Swiss courts and I think also the Swiss Federal Council have said that the bank is founded by an international treaty. It is inviolable: it cannot be sued.” | 2018 |
Related Document
| Title | Type | Publication date | Author(s) | Description |
|---|---|---|---|---|
| Document:War Martial Law and the Economic Crisis | book extract | 1 November 2010 | Peter Dale Scott |
References
- ↑ https://en.wikipedia.org/w/index.php?title=Great_Recession&oldid=698280890
- ↑ http://gifteconomy.org/downloads/AE602%20-%20Understanding%20The%20Financial%20'Crisis'%20(2010-12-25).ppt
- ↑ http://www.truth-out.org/buzzflash/commentary/the-real-threat-to-society-the-01-who-own-nearly-80-percent-of-us-wealth
