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How Recessions Cause Wars and Revolutions

By       Message shamus cooke       (Page 1 of 4 pages)     Permalink    (# of views)   No comments

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A quick glance around the globe reveals a ruined international economy, wars and more wars in the works, and revolutionary movements aplenty -- all connected phenomena. No, the apocalypse is not coming; but the international economic system currently used to arrange the social order is crumbling, taking everyone down with it.

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The global capitalist system is in far worse shape than most people realize: it may only take the tiny economy of Greece to go bankrupt to break this camel's back -- and finally the word "recession" will be antiquated and "depression" will be in vogue.

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How did this happen?

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A great economic downturn would have happened years ago were it not for the monstrous debt that many governments created -- consumer, corporate, and state -- to prop up the economic system, since debt was needed to fuel the consumption that corporations depended on for the purchase of their products. When this global debt bubble burst, the current crisis was ignited.

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Shamus Cooke is a social service worker and activist living in Portland Oregon.

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