“Even using the nuclear option of guaranteeing everything, providing unlimited liquidity, nationalising the banks, making clear that nobody of importance is going to be allowed to fail, even that has not helped. We are reaching a breaking point, frankly.” He [Nouriel Roubini] believes governments will have to come up with an even bigger international rescue, and that the US is facing “multi-year economic stagnation”.
The bond that binds us, economic interaction, is breaking down on a large scale and is causing many a human much confusion. The orgiastic days of yore when endless profits and trust in the system seem to be gone. How it will all work out is any ones guess. The economic slump could well be the beginning of an avalanche that sees the fundamental and complete collapse of the bourgeois mode of production. If this were to come to pass, the implications are endless to the average life of those who have gotten rather accustomed to regular meals and the ability to recieve payment for their work. Its an interesting time, of that much we can be certain.
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