home ECONOMIE STRATFOR Global Economic Downturn: A Crisis of Political Economy

STRATFOR Global Economic Downturn: A Crisis of Political Economy

Share

~published by STRATFOR courtesy~

Origin of the Crisis

As we all know, the origin of the current financial crisis was the subprime mortgage meltdown in the United States. To be more precise, it originated in a financial system generating paper assets whose value depended on the price of housing.

foreclosuredataonline

It assumed that the price of homes would always rise and, at the very least, if the price fluctuated the value of the paper could still be determined. Neither proved to be true. The price of housing declined and, worse, the value of the paper assets became indeterminate.

This placed the entire American financial system in a state of gridlock and the crisis spilled over into Europe, where many financial institutions had purchased the paper as well.

From the standpoint of economics, this was essentially a financial crisis: who made or lost money and how much. From the standpoint of political economy it raised a different question: the legitimacy of the financial elite.

Think of a national system as a series of subsystems — political, economic, military and so on… tot pe STRATFOR

Read more: Global Economic Downturn: A Crisis of Political Economy | STRATFOR

Citeşte şi
Canibalizarea corporatistă e una din marile tare ale lumii în care trăim şi e cauza
Statul plateste o divizie de 2.000 de PR-isti la stat, care nu fac nimic -
Economiştii Ministerului Finanţelor (vad ca de la o vreme nu se mai vorbeste despre Ministerul
Stire AP de Jeremiah Marquez, acum o ora si 35 de minute: World stocks slide
Putin consideră că are dreptul să decidă soarta ţărilor vecine şi a altor popoare, fie
Într-un editorial intitulat ”Rudy Giuliani dă lecţii altei ţări în etică", jurnalista CNN Frida Ghitis,
Liviu Pop, parlamentar PSD, fost ministru al Educaţiei, recidivează din nou. El a postat pe
Procurorul-şef interimar DNA Anca Jurma s-a întâlnit cu reprezentantul FBI, David Varner, şi cu ambasadorul SUA
Wess Mitchell, adjunctul Secretarului de Stat al SUA, înlocuitorul Victoriei Nuland în poziția de responsabil
Departamentul de Stat al Statelor Unite notează în raportul despre respectarea drepturilor omului în România
Share