
Is it a recession or a depression? Who knows apart from those who lost their jobs, their businesses and/or their savings. Or those in far away lands that pay the price of the massive turmoil created by American 'free market capitalism'.
The biggest insult in this episode, is the governments of capitalism's use of tax payers money to pay off the captains of big business! A nice big fat present instead of a jail cell...
The are only two things that can be learnt from this global disaster that the Bush Administration bestowed on the whole world are:
1. Free market capitalism does not work in its current form. A total shake-up of the current financial market must be implemented. Not a band-aid on the seeping wounds, but a new, fair and robust workable economic system that has advantages for all the nations of the world. Fair trade and a move away from globalization are a good start...
2. Decentralization of the financial world. The world should not be dependent on the USA. If the US economy crashes (as can happen to any country from time to time when they borrow a billion dollars to invade a couple of far away countries), then the effect should be limited to that country. A possible idea would be to drop the US dollar for the Euro, as the currency of business.
Finally, an eye for an eye. Hold those responsible, responsible!
