[Marxism] A new global credit crunch to come? | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Fri Aug 3 05:20:33 MDT 2018

The story of the last ten years since the Great Recession is that the 
world capitalist economy has staggered on at low levels of growth and 
investment and with virtually no improvement in real incomes for the 
90%.  And it has only staggered on because of a huge build-up in debt, 
particularly in the capitalist sector.  Now, monetary authorities are 
trying to reverse the credit binge and restore ‘normality’.  As a 
result, the cost of servicing that debt is on the rise and availability 
of more credit to finance is shrinking.


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