Friday, June 1, 2012
Banksters will be on a Desperate Prowl for the Rest of 2012
As I've suggested many times, the current global economic conditions were to be expected. We are in a static, no growth economy forever, the maximum growth hovering around 2%. for the foreseeable future. I could live with that, but market-driven neoliberals couldn't, and they are the ones who, alas, control economic policy in the world. Europe, the U.S., and China in particular are all suffering serious economic woes, and the Canadian economy grew by only 1.9% in the first quarter - much less than all the neoliberal, market-driven Canadian economists predicted - including the Governor of the Bank of Canada and the Finance Minister. That meagre growth was driven by business development, not by consumers, who have pulled back on consumption while sinking into debt by another $454. per capita - just about the limit of debt load, reasonable or otherwise, for the average Canadian relative to income. The banksters will thus be on a desperate prowl for profit. Be prepared.