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Posted at 4:12 am in News

TOWARDS THE DECLINE OF THE GLOBAL ECONOMY? The phenomenon of economic globalisation has managed that all the sound elements of the economy are interrelated each other due to the consolidation of oligopolies, technological convergence and corporate tacit agreements so that the economic crisis will be global and binding. To get to that crisis, (whose first sketches are already profiled and that will end up drawing in the next five years), have contributed the following: replacement of the economic doctrine of budgetary equilibrium of the States by the endemic Deficit, practical to by mimicry, adopted domestic economies and corporations and public and private bodies contributing to the disappearance of the culture of savingchronic indebtedness and excessive reliance on external financing. Establishment of compulsive consumerism in developed countries, favored by the incessant bombardment of advertising, the irrational use of cards plastic, providing instant credit with bleeding interests and the invasion of a tide of manufactured products of dubious quality and unbeatable prices, coming from emerging countries. Suicidal policy of the major global banks, in granting credit and sub-prime mortgages: Inmersos in the expansive whirlpool of the world economy in the last decade and for the sake of optimizing your results account, Act ignoring the most elementary norms of credit prudence, becoming mere speculative brokers and neglecting the allocations to the funds from Provision and insolvency. This, coupled with the lack of supervision by the monetary authorities of the indices of solvency of banks, incurred the crisis of subprime us.Followed by an incessant drip of bad Bank debts, a severe contraction of Bank lending and an alarming lack of Monetary liquidity and confidence in financial institutions. Paranoid obsession of the multinational stateless or transnational corporations, by maximizing the benefits due to the insatiable appetite of its shareholders, requiring constant increases in dividends. Therefore not hesitate to borrow dangerously, for the sake of Gigantism, through hostile takeover bids and intensifying the policy of relocation of companies to emerging countries, in order to reduce production costs, (given the huge differential in wages and the absence of labour rights of workers).

Written by admin on July 30th, 2016

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