Posts Tagged ‘Recession’

Why are we still so obsessed with preserving the banks?

by Michael Meacher.

It is sad, tragically if not pathetically sad, that 5 years into this long-drawn-out recession still virtually none of the key lessons have been learnt. It is not about injecting a new morale and spirit of Olympic aspiration into UK economic enterprise after two weeks of glorious athletics achievements. It’s about realising that the financial […]

How long can this go on? Not the Coalition, but peace on the streets?

by Michael Meacher.

The latest news about inflation – RPI up last month from 2.8% to 3.2% when wages are virtually flat – is bad enough, but the background makes this a whole lot worse. Since 9 August 2007 when the collapse at Northern Rock heralded the start of the Great Financial Crash, debt, despite all the privations […]

A thousand dead: it’s time for a war on the terror of austerity

by Jon Lansman.

It’s official. The austerity death count in the neo-liberal attack on Britain is estimated at 846 men and 155 women, according to a report by academics in the British Medical Journal. That’s the number of suicides in Britain above what would have been expected based on historical trends between 2008 and 2010. Two-fifths of the male […]

Are Osborne & co. insane, deluded or just suicidal?

by Michael Meacher.

Et tu, Brute? We have now reached a point where it seems impossible to present a plausible rationale for continuing with the government’s economic strategy (for want of a worse word). Osborne, a nasty piece of work even at the best of times, is now being assailed by all those global or national financial authorities […]

Merkel isolated as preacher of reactionary austerity

by Michael Meacher.

It is almost incredible that faced with the very real likelihood of a slide into world slump, as Obama is now warning, Merkel continues to parrot the reactionary monetarist mantra that “there can be no growth through borrowing”. There can certainly be no growth through prolonged austerity, though she didn’t admit that.

Three speeds In Europe, all slower

by Michael Burke.

The latest publication of the GDP data for the EU shows three distinct trends but one unifying theme – slower growth. In an important but dwindling group are those economies which are still expanding, led by Germany where GDP grew by 0.5% in the first quarter of 2012. In a larger group are those countries […]

The far left and capitalist crisis

by David Osler.

Recent capitalist history has thrown up sharper economic declines and higher levels of unemployment than the ones we are currently witnessing in Greece and Spain. It’s just that they haven’t occurred in nice Mediterranean countries that Britons visit for beach holidays and long weekends.

Minus 0.2 percent! Cameron can run but he can’t hide

by Michael Meacher.

Cameron’s seeking to explain away yesterday that the national economy was now shrinking by 0.2% in the last quarter of 2011 won’t wash. He blamed high inflation, Labour ‘mismanagement’ and the eurozone problems. High inflation is irrelevant to a contraction of national output which is clearly down to lack of demand because of squeezed incomes. […]

UK stagnation is home grown & down to government

by Michael Burke.

George Osborne and other Tories as well as their supporters in the media are now promoting the idea that the stagnation of the British economy is a function of the turmoil in the Eurozone economy and financial markets. The main channel for economic weakness in the Eurozone to be expressed in British economic activity is […]

There’s no avoiding doom for the Eurozone now

by Michael Meacher.

The 3-notch downgrade of Italy’s credit rating by Moody’s. The near-collapse of the French-Belgian bank Dexia despite the stress tests it passed only 3 months ago. The growing consensus that only a 50% haircut imposed on investors in Greek debt can save the country from insolvency. The drastic fall in share prices in the UK, […]

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