Jan 24, 2008

The sky is falling in!

Oh yes it is. Unless you haven't been paying attention to the financial pages lately, you can't help but consider the purchase of sub-prime loans was perhaps carried by one Kallisti Corporation, or Golden and Apfel Import and Export for Illuminatus! fans.

Either way, financial chaos seems certain, at least for the immediate future. Eris is stalking the boardrooms and plauging CEOs and bankers with uncertainty. No-one knows where the sub-prime loans are, or exactly what banks have purchased the debt. So no-one wants to loan thei money out to other banks, let alone various industries and companies, which is kind of a problem when the global economy is dependent on the continual movement of cash and debt.

Although, so far, the panic is doing more than the actual markets themselves. Its not as bad as 1987, though it is as bad as the days immediately following 9/11. And the USA is teetering on the eddge of a recession, which could have some very interesting implications.

For example, let us consider the economic populism of a Huckabee, or Ron Paul. Both of them reject, in one way or another, the so-called NeoLiberal consensus. If the economic situation worsens, it could become quite a boost to their campaigns, especially when you consider all the other candidates are reading from the same playbook.

Closer to home, where the Neo-Liberal consensus has control of many of the major political parties, we should consider the case of the BNP, who pursue a Third Positionist/protectionist economy, partially to shore up support from the disaffected Left and partially because "TEH J0000000s" control international banking. Many Eurofascist parties, such as Vlaams Belang and the Swedish National Democrats, hold similar positions, and since they are already making headway by exploiting fear of Islam and especially focusing on economic immigration, this can only help them.

Of course, its not all bad. Perhaps this will help open up the debate on economic issues more fully, allowing more "discredited" or unusual theories to have a more thorough and critical looking at.


Time will tell, anyway.

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