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When system threatens with a new crisis

by system failure

A reverse scenario of the 2008 crisis in the US would be a potential new crisis, starting from Europe this time. Global neoliberal dictatorship feels a threat for its domination which may start from the oncoming euro elections. Forces of the eurosceptics, mainly from the patriotic Right appear to be strengthened, while the European Left seems to be determined not to follow the neoliberal block as the Socialist European parties did.

Eurozone member-states appear to be trapped between the markets, which are ready to attack any time, and the ECB, and this is the reason they proceed in further "preventive" measures of cruel austerity. A characteristic recent example is the 50 billion euros in cuts announced by the French president François Hollande for 2015-2017.

The system threatens societies with a new crisis, since things may change rapidly against the desirable conditions. In case that euro elections give significant power to the anti-neoliberal forces in euro parliament, this could mean that "markets" would prepare for a new big economic crisis, starting from Europe this time, since the global neoliberal dictatorship wants to complete the experiment in Greece by all means and expand it, for a start, to the whole eurozone, even to Germany.

On the other side of the Atlantic, Obama desperately tries to pass some measures in favor of the majority of the American people (Obamacare, minimum wage) but faces huge barriers also from the Republicans who seems that they openly support big capital. It is certain that Obama cares about his fame after leaving presidency, but it seems that he can't do much.

A potential new crisis in Europe will be probably transferred to the other side of the Atlantic so that, at an early stage, any intensions for measures in favor of the people to be abandoned and subsequently, neoliberal policies to be expanded to the United States through the well-known IMF recipe of cruel austerity and fiscal discipline. It is characteristic that, according to the famous economist, Joseph Stiglitz, IMF had made wrong predictions in the past concerning US economy, which (thankfully) were ignored. Maybe this time, some will "consider" (unfortunately) not to ignore them.

Federal Reserve is able to contribute significantly to the expansion of crisis since the US government appears to be increasingly dependent on Fed's quantitative easing policies.

The only certain thing is that, people must not retreat in propaganda of fear and understand that they have the power to resist against the forces and the politics which systematically impoverish them. For this reason, the oncoming euro elections could be a great chance and not only for Europeans.

Comments

  1. Anonymous22/12/14 06:44

    vst majority of americans oppose obamacare and have from start

    ReplyDelete

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