En Passant

Michael Roberts explains the reasons for the market chaos going on across the globe on his excellent blog site the Next Recession. He says among other things: ‘The reasons are clear. The Chinese economy, now officially the largest in the world (at least as measured by the IMF’s rather weird purchasing power parity method), is slowing fast. To read the whole excellent article click here.

This might be a W-shaped recession, with the W moving towards a w.

The Goldman Sachs roller coaster has reached the top, ready to race again to the bottom. This is nothing to shout about. It is something to fear.

This is Costello’s legacy – the threat of unemployment, attacks on wages and conditions and an economy teetering towards oblivion.

The world economy is in a downward spiral with no end in sight. There are no green shoots – scorched earth is more like it.

Employment in the mining industry will double over the next decade. Scaremongering about job losses is so the bosses can get even more money out of us.

The reason for the sudden swell in interest in Marx is clear – world markets are going badly wrong and mainstream economists cannot explain what is happening.

The market is a wondrous thing.  It solves all our problems though some mystic and magical force. Occasionally the potion doesn’t work.  All we end up with is a sour taste and a sick stomach.  Take the environment.  The market has been a wonderful success there, ensuring that profit comes before such minor things as […]

The IMF says that ‘the downturn is likely to be unusually severe, and the recovery is expected to be sluggish.’ In other words, even when the world economy stops shrinking, it is likely to find itself trapped in a long period of slow growth.

Rudd has developed a new racism – a balancing act which gives the impression of even handedness but attacks refugees who have dark skins.