How globalisation ends: Debtonation Day, plus two

From Open Democracy: August 13, 2009

“A single day, 9 August 2007, will go down in history as ‘Debtonation Day’ – the beginning of the end of the deregulation and privatisation of finance that marks the era of globalisation.”

I wrote these words on 13 August 2007, in anticipation that the great stock-market collapse of four days earlier presaged the end of the era of neo-liberal globalisation.

So it has proved.

Read Open Democracy article>

Posted by admin on 18th August 2009, 03:25am
Filed under: Anglo-American financial crisis, Banking crisis, British banking, Central Banks, Credit Crunch, Debt, Financial Crisis, Globalisation, Neo-liberal economics, UK financial crisis, US financial crisis, international financial architecture

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