On the tenth anniversary of a pivotal moment in the Great Recession, a group of demonstrators in the German city of Frankfurt have held a protest gathering to demand a stable financial system which is democratically controlled and which does not exploit humans and nature.
*By Jason Hickel
When it comes to global warming, we know that the real problem is not just fossil fuels — it is the logic of endless growth that is built into our economic system. If we don’t keep the global economy growing by at least three percent per year, it plunges into crisis. That means we have to double the size of the economy every 20 years, just to stay afloat. It doesn’t take much to realize that this imperative for exponential growth makes little sense given the limits of our finite planet, according to the Guardian.
China's central bank said on Tuesday it was injecting 440 billion yuan ($67 billion) into the money market, seeking to ease tight liquidity ahead of the Lunar New Year holiday when demand for funds surges.
Raising interest rates is always harder than cutting them. When investors are bleeding and workers fear the chop, promises of cheap money sound like the hoofbeats of arriving cavalry. But the trauma does not end for everyone at the same time. When the rescuers depart, some complain they are being abandoned too soon.