Why the world is burning

What Happens When People and Societies Grow Starved of Capital? This Does.  

    How did stagnation come to happen this time around? In much the same way. A huge financial crisis. The banks were bailed out. A generation of neoliberal leaders, who imagined that their countries were now “bankrupt.” They began to cut social investment at precisely the same moment that the economy was faltering — bang! This double whammy crushed the average person. In Britain, for example, the fall in living standards was the greatest for centuries. In America, people’s lives simply began to fall apart — the middle class literally imploded, becoming a minority. In Germany, France, Italy, the comfort and ease of generations of social democracy was grinding to a halt.     The age of austerity had dawned. And unfortunately, that is still precisely where we are today. While Paris burns, as people rage, while Italy is aflame, as people grow furious, as America collapses, as Britain self-destructs in confusion and bewilderment — there is no plan to bail out societies, people, the old, and the young. None whatsoever. And yet without such a plan, if you understand all the above, there is no chance that the world will continue on a path of peace, partnership, and prosperity. Read More