By Dick Forslund and Mazibuko Jara20 September 2010At any rise in aggregate demand, the Bank increases interest rates.Last week, the Reserve Bank waded into the battles between workers and employers over wage demands. Its monetary policy statement expressed concern...
Does the chaos in the Eurozone signal the beginning of the end of the Euro?Four years and a couple of trillion dollars worth of rescue packages after the eruption of the sub-prime crisis in 2007, we are nowhere near resolution of the “North Atlantic Financial Crisis”....
Greece is facing an economic and social disaster, the result of its so-called rescue by the “troika” of the EU, the International Monetary Fund and the European Central Bank. Greece must change course to avoid a grim future for its people: it must default...
In the early days of October 2011 the virtual bankruptcy of the Franco-Belgian bank Dexia is yet another sign of how deep is this crisis that brings governments to serve public money to private interests. Dexia’s krach shows that it is the private banks that are the...
What if debt deflation strikes, will the Eurozone’s financial elite still bay for sound finance? Finance capital’s imposition of fiscal austerity on both sides of the Atlantic – and this at a time when private consumption and investment are stagnating – is pushing the...
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