The Collapse of Globalization

[georgephillip]

From the uprisings in the Middle East and Ivory Coast to Europeans revolting against "austerity" to labor disputes in the US heartland, globalization is melting down faster than Fukushima.

Since December 2008 food prices have soared 61% according to the IMF.

"The price of wheat has exploded, more than doubling in the last eight months to $8.56 a bushel. When half of your income is spent on food, as it is in countries such as Yemen, Egypt, Tunisia and the Ivory Coast, price increases of this magnitude bring with them malnutrition and starvation."

Closer to home some $17 trillion in wages, retirement benefits and personal savings has been "snuffed out" since Slick Willie, Phil Gramm and Larry Summers made their contribution to financial deregulation.

When globalization finally crashes, does it take 90% of
humanity with it?

Chris Hedges: The Collapse of Globalization - Chris Hedges' Columns - Truthdig

 

[skookerasbil]

win

Too Phillip, according to the Walmart CEO, inflation is going to bust the door in this summer.............on DRUDGE this AM.

 

[georgephillip]

win

Too Phillip, according to the Walmart CEO, inflation is going to bust the door in this summer.............on DRUDGE this AM.

If that's correct, inflation could turn every $10 bill in this country into a $5 in a very short period of time.

It's possible the US dollar has already collapsed.

If so we are staring at the biggest change any of us have seen in our lifetimes.

 

[editec]

It not JUST the USD which is going to be in trouble, folks.

The globalization system is breaking down because it fails to serve enough people well enough.

The people Globalization best serves are the masters of capital.

 

[Douger]

win

Too Phillip, according to the Walmart CEO, inflation is going to bust the door in this summer.............on DRUDGE this AM.

If that's correct, inflation could turn every $10 bill in this country into a $5 in a very short period of time.

It's possible the US dollar has already collapsed.

If so we are staring at the biggest change any of us have seen in our lifetimes.

Gee. I'da never guessed.
Gotta head down the hill and put my stud rabbit in with the gals.

 

[georgephillip]

It not JUST the USD which is going to be in trouble, folks.

The globalization system is breaking down because it fails to serve enough people well enough.

The people Globalization best serves are the masters of capital.

Chris Hedges agrees:

"We must rebuild radical socialist movements that demand that the resources of the state and the nation provide for the welfare of all citizens and the heavy hand of state power be employed to prohibit the plunder by the corporate power elite. We must view the corporate capitalists who have seized control of our money, our food, our energy, our education, our press, our health care system and our governance as mortal enemies to be vanquished."