Tag Archives: governmental budgets

The Purpose of the Credit Crisis

It’s always been unpleasant to imagine the kind of scenarios that Michel Chossudovsky, Canadian professor of economics, describes in his excellent video The Global Financial Crisis.

But the statistics of the UK Budget figures over the last 10 years paint exactly that picture, if only one has eyes to see it, it seems:

  • bankruptcy of the real economy
  • spiralling public debt
  • centralization of corporate power
  • concentration of wealth
  • globalization of poverty.

Historic US budgets tell another story on top of confirming the increase in indebtedness through a rising budget deficit.

With sighs…