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The Greatest Depression

By       Message Stephen Lendman       (Page 1 of 7 pages)     Permalink    (# of views)   3 comments

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The Greatest Depression - by Stephen Lendman

One sign is the enormous worldwide financial shock, erasing nearly $8 trillion of equity wealth since late July. Another is teetering global economies, notably across Europe and America. 

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Still another is growing poverty, deprivation, and despair for millions without jobs, enough income, or futures. Combined they indicate Depression in its early stages and deepening.

In 2008, trends analyst Gerald Celente predicted it, saying:

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"All levels of government will be caught up in the private sector collapse as tax bases shrink and tax revenues sharply decline. Attempts to make up shortfalls by raising taxes, tuition and tolls, and imposing higher user and license fees, will do little to resolve the problems, but will do a lot to infuriate citizens."

Indeed so disruptively across Europe - in Greece, Spain, Italy, Portugal, Ireland, Britain and elsewhere with much more potentially anywhere for long denied social justice.

On August 6, rioting began in Tottenham, North London after police shot and killed Mark Duggan, a 29-year old father of four. It triggered other outbreaks on Sunday, Monday, and Tuesday in Brixton, Enfield, Walthamstow, Islington, Hackney, Croydon, Lewisham, Peckham, Clapham, Ealing, central London, and Birmingham, Britain's second largest city.

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They also spread to Liverpool, Manchester, and elsewhere as raging anger set Britain ablaze. On August 9, London Guardian writers Vikram Dodd and Caroline Davies headlined, "London riots escalate as police battle for control," saying:

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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