The Oligarchs' Escape Plan at the Treasury's Expense
By Prof. Michael Hudson
The financial "wealth creation" game is over. Economies emerged from World War II relatively free of debt, but the 60-year global run-up has run its course. Finance capitalism is in a state of collapse, and marginal palliatives cannot revive it. The U.S. economy cannot "inflate its way out of debt," because this would collapse the dollar and end its dreams of global empire by forcing foreign countries to go their own way.
http://informationclearinghouse.info/article22026.htm
http://freepage.twoday.net/search?q=oligarch
http://freepage.twoday.net/search?q=empire
http://freepage.twoday.net/search?q=capitalism
http://freepage.twoday.net/search?q=Treasury
http://freepage.twoday.net/search?q=Michael+Hudson
The financial "wealth creation" game is over. Economies emerged from World War II relatively free of debt, but the 60-year global run-up has run its course. Finance capitalism is in a state of collapse, and marginal palliatives cannot revive it. The U.S. economy cannot "inflate its way out of debt," because this would collapse the dollar and end its dreams of global empire by forcing foreign countries to go their own way.
http://informationclearinghouse.info/article22026.htm
http://freepage.twoday.net/search?q=oligarch
http://freepage.twoday.net/search?q=empire
http://freepage.twoday.net/search?q=capitalism
http://freepage.twoday.net/search?q=Treasury
http://freepage.twoday.net/search?q=Michael+Hudson
rudkla - 18. Feb, 22:35
