Crash Survival Zone

Dear Sir,

The prevailing view amongst the commentariat (reflected in the recent deliberations of the G20) that the financial crash of 2008 was caused by market failure is both wrong and dangerous. Government failure had a leading role in creating the conditions that led to the crash.

* Central banks created a monetary bubble that fed an [...]

The downward trend in the financial crisis is easing and national economic stimulus packages are starting to work, billionaire investor George Soros was quoted as saying by a German newspaper on Monday.

Soros also told the Frankfurter Allgemeine Zeitung daily that Asia would be the first region to pull out of the crisis and China was [...]

The global economy is about to turn the corner, leading central bankers said on Monday, but there were signs recovery could be long and painful.

The White House pushed up its forecast for the U.S. budget deficit, General Motors Corp said a bankruptcy filing had become “more probable,” and EU and U.S. businesses are set to [...]

The Latin American economy will likely weaken further in the next few months, putting additional pressure on sovereign credit ratings across the region, Standard & Poor’s managing director Jane Eddy said on Wednesday.

Some positive economic signs in Asia have been raising hopes that commodity-exporting countries in Latin America could also get an economic boost from [...]

by Gary Dorsch

An eight week long upturn in European, Japanese, US and emerging stock markets since March 10th has sparked a wave of optimistic commentaries in the financial media that the worst bear market since the 1930’s has finally come to a merciful end, and the rocky road to recovery lies ahead. Since hitting a [...]

This is a new, progressive economic policy blog from the Franklin and Eleanor Roosevelt Institute that launched on April 29th.

The effort is lead by Robert Johnson, former Chief Economist of the US Senate Banking Committee. With contributors like Joseph Stiglitz, New Deal 2.0 is a “one-stop shop” for new insights, analyses and proposals on the [...]

Better news on manufacturing in Europe, China and India, and positive signs on U.S. home sales and construction raised hopes on Monday that the deepest economic slump in decades may have bottomed out.

Manufacturing in Europe declined at its slowest pace in six months, and grew in China and India in April, while pending sales of [...]

The European Commission on Monday lowered its growth forecast for the European Union as a result of job losses, a weak housing market and a slump in global trade.

The commission, the executive arm of the E.U., forecast in its spring quarterly economic forecasts that gross domestic product in both the European Union and the euro [...]

UN General Assembly President Miguel d’Escoto Brockmann said on Wednesday that the current global economic and financial crisis proves that the logic of capitalism is evil and suicidal.

During a ministerial meeting of the Coordinating Bureau of the Non-Aligned Countries (NAM) hosted in Havana, d’Escoto said that the current world order promotes selfishness, usury as well [...]

Unemployment in the euro zone rose to 8.9 percent in March, up from 8.7 percent in the previous month, the European Union (EU)’s statistics bureau Eurostat said on Thursday.

…more…

Xinhuanet