Saturday, August 06, 2011

Capitalism in crisis, a warning from history: 80 years ago, a banking collapse devastated Europe, triggering war...

In every corner of Europe, ordinary families, through absolutely no fault of their own, are paying an intolerable price for the outrageous avarice of the financial elite.

Exactly 80 years ago, international capitalism stood on the verge of meltdown.

The collapse of the banking system in the summer of 1931 sent shockwaves through Europe, bringing governments to their knees and thousands out onto the streets.

In the United States, an increasingly careworn president and his congressional critics fought a bitter battle over government spending and tax rises.

(...)

But the bankers’ greed is only one symptom of a wider malaise. The stark truth is that millions of ordinary families feel the system gives them no chance of success.

The facts are simply unanswerable. A child born in 1971 has less chance of moving up the social ladder than one born in 1951.

On top of that, the gap between rich and poor has grown steadily since the 1970s, with some of the biggest increases coming during the 13-year New Labour regime. Full story...

Don't miss:
  1. Charles Dickens and the money barons... 
  2. Angry Irishman lambasts "wanking, fucking bankers..." 
  3. Furious American is mad as hell and is not going to take it anymore...
  4. Salaries for top executives are rocketing 'out of control'
  5. Royal families, DNA and the New World Order...
  6. Murdoch scandal has exposed the scale of elite corruption...
  7. Shut up! You're disturbing the elite...

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