Global Economic Crisis Deepens - by Stephen Lendman
Millions are being impoverished by today's global depression.
Global Depression grips world economies. Destructive polices fueled today's crisis. Conditions are fast coming to a head.
Throwing good money after bad delays decision day at the price of far greater trouble on arrival. D-Day will shake world economies. It may, in fact, be months away, perhaps in 2012.
No one knows for sure, but things that can't go on forever won't, and when they end, watch out. Ordinary people will be hurt most, much more than already.
Perhaps Greece is the canary in the coal mine. The country's bankrupt. Only its obituary isn't written. Its citizens are being impoverished. Anger rages in Athens. Revolutionary sentiment may explode any time, sending shock waves across Europe.
Trends analyst Gerald Celente says when people lose everything and have nothing else to lose, they lose it.
Greek citizens are close to losing it. Others in troubled countries aren't far behind, including in America where growing thousands rage against a system destroying their livelihoods and futures.
Fixing it demands direct action. Focusing on core issues is key, and knowing bottom-up change only is possible, never the other way. Entrenched corporate and political interests don't yield.
Sustained pressure is crucial. Today's struggle is the mother of them all. Change won't come easily or quickly. Minimally it will take years to remake what's too corrupted and broken to fix.
Ripping it down and starting over is essential. American and Eurozone workers are on their own to do it. They're in for the fight of their lives. Odds are greatly stacked against them, but the stakes are too important to back down.
Money power in private hands must change. People must get back what's rightfully theirs. America's Constitution mandates it. Enforcing it is crucial. Doing so makes everything else possible. Without it, expect failure.
Over time, financialized economies deter economic prosperity. America's time is now. So aren't troubled Eurozone countries.
Responsibly created debt fuels economic growth. Too much of a good thing causes big trouble.
In 1934, Atlanta's Federal Reserve Bank credit manager Robert Hemphill said:
"We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve."