S2 Ep48. The long pause. The Crisis of our Times. Part 21.

The Economic Crisis, the next horseman of the apocalypse,  is updated and explained. We are currently in a  pause as the underlying malaise is disguised by money creations and bail outs. But this only postpones and augments the crisis to come.

# The post 2007/8 Global Financial Crash led to a new stage of capitalism in which massive government intervention in the financial system became the new paradigm

# This was accomplished through cheap and abundant money, propping up of the financial system at all costs

# Moral hazard has increased enormously

# Zombified companies have saturated the economy

# Stock markets have become disconnected fro the real economy

# Inflation in asset and housing prices have been typical of many counties.

# Increasing inequality

# Paralysed or declining productivity growth rates

# Astronomical and un-payable national debts which are ruinous for the future

# Price discovery, the essence of the free market system has been substantially eroded

 

Useful links for this episode:

https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?end=2019&start=1973

https://www.worldbank.org/en/research/publication/global-productivity