Home > Off Blog > The systemic collapse of a system that has rotted from the inside out.

The systemic collapse of a system that has rotted from the inside out.

Tom Walker takes on economics…

(Berlin) Wall to Wall (Street)

by Tom Walker

Twenty years ago next month, the Berlin Wall fell. One year ago last month, Lehman Brothers collapsed — the “second shoe” dropped. Just as the dismantling of the wall was the symbolic climax of a long process of disintegration that had begun in the 1970s and was not completed until several years after November 1989, the financial crisis that erupted in 2008 had deep historical roots and it will not be resolved with a recovery to business as usual. At this point it would be prudent to banish the word “recovery” from the analytical vocabulary. This is not a recession. Nor is it a depression. It is the systemic collapse of a system that has rotted from the inside out.

Full text here

Advertisements
  1. November 9, 2009 at 11:26 am

    Interesting post. I have just posted on the fall of the wall from the standpoint of European integration. http://euandus3.wordpress.com/2009/11/09/heute-ist-die-mauer-gefallen/

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: