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France Rises Up Against the New Fascism - Vaccine Passports 23:57 Jul 21 3 comments

George Floyd: one death too many in the “land of the free” 23:58 Jun 23 0 comments

The leveraged buyout, exploitation and punishment beating of Greece as warning to others. 11:45 May 11 0 comments

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North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

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The Saker

A bird's eye view of the vineyard

Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
2023/02/27 19:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
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Lockdown Skeptics

Introducing the Ecosystem of Far Left Ghastliness Wed Mar 19, 2025 09:00 | Charlotte Gill
The Esm?e Fairbairn Foundation doles out ?49m a year on "migrant justice", "gender justice" and "racial justice" programmes, among others. It's just one part of the ecosystem of far Left ghastliness, says Charlotte Gill.
The post Introducing the Ecosystem of Far Left Ghastliness appeared first on The Daily Sceptic.

Miliband Thinks He Can Convince China to Follow the UK?s Net Zero Leadership. Don?t Make Me Laugh Wed Mar 19, 2025 07:00 | Ben Pile
Ed Miliband, the climate hero, believes that he can convince the Chinese to follow in his Net Zero footsteps. And that is not even the most absurd thing about his expedition to Beijing, says Ben Pile.
The post Miliband Thinks He Can Convince China to Follow the UK’s Net Zero Leadership. Don’t Make Me Laugh appeared first on The Daily Sceptic.

News Round-Up Wed Mar 19, 2025 01:07 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
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Trump and Putin Agree 30-Day Ukraine Partial Ceasefire Tue Mar 18, 2025 19:00 | Will Jones
Donald Trump and Vladimir Putin agreed to a 30-day 'energy and infrastructure' ceasefire in Ukraine during a two-hour phone call today in the first steps towards ending the war.
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Peter Hitchens is Right: Labelling a Child as Dyslexic Only Makes Them Worse Tue Mar 18, 2025 17:00 | Joanna Gray
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The post Peter Hitchens is Right: Labelling a Child as Dyslexic Only Makes Them Worse appeared first on The Daily Sceptic.

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Voltaire Network

Voltaire, international edition

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Zombie Housing, Zombie Banks, Zombie Governments: Economy Cassandra Says Marx was Right

international | anti-capitalism | opinion/analysis

Sunday August 21, 2011 17:18

by Roy Batty

roy at wheresmyfuckingmoney dot com

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"Karl Marx had it right. At some point capitalism can destroy itself because you cannot keep on shifting income from labor to capital without not having excess capacity and a lack of aggregate demand, and that's what's happening." --Nouriel Roubini

Karl Marx

Karl Marx

Economist Nouriel Roubini says the risk of a global recession is greater than 50 percent, and the next two to three months will reveal the economy's direction. The economist who predicted the financial meltdown in 2005 says Marx was correct that capitalism can collapse. Fortune Magazine: "In 2005 Roubini said home prices were riding a speculative wave that would soon sink the economy. Back then the professor was called a Cassandra. Now he's a sage." Paul Krugman (2009): "Nouriel Roubini was right. At a time when the likes of Alan Greenspan were dismissing concerns about excessive home prices and declaring that banks were stronger than ever, Roubini warned that there was a monstrous bubble in the housing market and that the bursting of that bubble would cause much of the financial system to collapse. And so it has turned out, with even the most seemingly outlandish of Roubini's predictions matched or even exceeded by reality." In a fascinating interview with The Wall Street Journal's Simon Constable, Dr. Roubini doesn't have much good to say about the future. In fact, his answer to Mr. Constable's first question, "What can we do to get the economy going?" is "Probably very little." See full article and video at http://wheresmyfuckingmoney.com/2011/08/zombie-housing-...ight/

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Comments (5 of 5)

#	Title	Author	Date
1	Europe’s economic crisis spins out of control	T	Sun Aug 21, 2011 22:56
2	Stock market panics and the danger of another recession	P	Mon Aug 22, 2011 12:24
3	part of the game	opus diablos	Mon Aug 22, 2011 12:38
4	On which subject..	opus diablos	Tue Aug 23, 2011 12:17
5	Hudson	Rian	Mon Aug 29, 2011 14:30

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