Inside Story - Is the global economy headed for another crash?
Economy | Information | History | Online | Facts | World | Global | Money
Stock market volatility fuels fears of an impending economic crisis. Presenter: Nick Clark Guests: Ann Pettifor, director of Policy Research in Macroeconomics, also known as PRIME. Ann is also author of: "Just Money: How Society can Break the DespHow Society can Break the Despotic Power of Finance". Vicky Pryce, chief economic adviser at The Centre for Economic and Business Research. Anastasia Nesvetailova, director of the City Political Economy Research Centre at City University in London. - Subscribe to our channel http://bit.ly/AJSubscribe - Follow us on Twitter https://twitter.com/AJEnglish - Find us on Facebook https://www.facebook.com/aljazeera - Check out our website: http://www.aljazeera.com/
Comments
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Ann is right. Governments are going to have to roll up their sleeves and do real work to build their economy. Quantitative easing and helicopter money is lazy and is only counterproductive.
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Anyone can argue and blame of what happened in past. The reality is that wealthy nations are in transition in becoming like third world nations. The gap of rich and poor will get bigger, and the middle class in wealthy nations will slowly become poor. Because no matter how much they sugar-coat it, at the end of the day, you will be struggling to keep your head just above water. They say people need to spend money to keep the economy going. Its human nature to spend, who doesn't want to buy things and spend on stuff??? people don't buy because they don't have money, it's that simple. It is not because people are in fear. It is not about people's sentiments, concerns or confidence about the economy... its because people don't have money. Government trying to do everything they can so that people will spend and get the economy going... spend what? when people have no money. Even if interest rate is 0.01%... it is not going to make me go to a bank and borrow money if I don't have a job.
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Are all european women this smart ? American women are dumb.
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I dont think its imminent, soon as there s a hint of deflation central banks and the fed will infuse the banks with currency staving off any bank runs or collapses.
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PRIVATE DEBT is the cause we are not recovering. Recessions/deflations are normal cycles of the economy. Deflations clear debt out of the system and causes prices to go down.But it is good to know that the everyday consumer never came out of the last recession/2008.The rich are the ones feeling great and spending money, as asset prices (not wages) are aided by monetary stimulus/QE. The U.S. and Europe are headed in the same direction as Japan, a country still in a coma economy precisely because it never let its debt bubble deleverage.The only way we will not follow in Japan's footsteps is if the Federal Reserve/Central banks stops printing new currency/QE/stimulus. Private debt in the US was at 38 trillion in 2013 twice government debt. High debt is killing growth. Solution: a Debt jubilee......giving people(not banks) currency in their bank accounts to pay part of their debt. And the people who do not have debt can spend the currency.
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The Fed (Ponzi Scheme) front loaded the bigger bubble to fix the smaller bubble
Now they are out of ammunition
End the Fed or we are all ****ed
Bail out the people not the criminals of Wall St -
We are suffering at our own hand. People are blaming merely the RE-actions to the action that we introduced into the system to begin with. To blame our Government, corporations, banking, etc. is to blame our own Creation. Maybe it is time to examine the creator (the Voter, the Owner, Lender). And it is highly likely that you are all 3 of them. What are "you" doing in the system?
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THERE R sooooo many printed and electronic $$ out there that they r so dilutedU can call them homeopathic $$ .no one knows how many ???? if they did they would b worthless
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we have not yet recovered from the last crash!
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Vicky Pryce is a gong fu master in double talk - growth is not necessarily more money in the average joe's pocket, particularly in the UK. As everyone know the AJ make up the bulk of purchase transactions and taxes.
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"We haven't left the first one" -That's the Plain Truth, this is a long term Depression.
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Of course its going to crash, crashing is a symptom of the inequality in international trade and banking. The global economy is a giant ponzi scheme, and those always crash. The commoner takes the hit, or 'allows' the washing of the slate clean, and the oligarchy/banking scheme continues. We haven't changed anything since the last crash, and people definitely aren't any better off debt wise, so of course it will crash. There's no spending power under the people, so who's going to keep the economy running? The rich? HAH, the only way they could be of benefit is if they use ALL of their wealth minus living expenses to invest in the economy. Previous American imperialism was the only thing that allowed the ponzi scheme to continue. As other countries catch up in technology and military, the question is open to history.
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BitCoin?
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She got it wrong last time so I switch
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every piece of paper (or polymer) banknote is getting harder and harder to earn during an economic recession.
if you are in debt, you will be enslaved for the rest of your life. -
Should we go on "Panic Mode"?
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I am convinced by the opinion of the panelists that we are indeed into something big.... maybe even bigger than the 2008 one....
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Keynesian economics, thats why.
With unlimited quantitative easing, now if the world economy was a hospital patient it would be hooked on meth with severe blood loss and bleeding to death. -
The way they run the high end of it is not economic, nor is it global; yet, if the high end of it survives, and so long as one respects the major currencies of the world and bank holdings associated therewith, things will continue to run this way of nepotistic unprincipled assumption of unity which explodes into shrapnel of potential faster than a poet in Flanders, circa 1915.
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There seems to be the underlying assumption (mistaken in my opinion) that Governments can "manage" economies. Why not have just some simple rules that separate banking from speculative endeavors, clean up the horrendous corruption in our so called justice system (I speak of the USA in this case), and allow the market to sink or swim on its' own. I do nominate Anastasia for the head of the Federal Reserve. Russians are the best analysts, and most precise. I think she would clean up our banking system.
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