The current financial crises (Eurozone, US and UK public and private sector debt, banks’ insolvency) were precipitated by the sub-prime mortgage crisis of 2008 which was the culmination of a housing fuelled, economic boom in the US, UK and Europe (particularly Spain and Ireland). Rising house prices fuelled an explosion in consumer credit and private[...]Read more →
Archive for ‘Economics’
The global economic system demands exponential growth to survive rather like a bicycle which falls over if forward momentum ceases. It is underpinned by the interest based money system which demands expanding debt to provide sufficient money to pay the interest on pre-existing debt.
Growth in the US, UK and other countries has, for the[...]
A Polly Tikkle Production
The main stream press was eager to quote Andy Haldane, the Executive Director of Financial Stability for The Bank Of England, when he publicly announced that Occupy was right. However Andy Haldane’s proposed reform strands, which he memorably calls the 5C’s, do not go very far in addressing what Occupy[...]Read more →
Haldane echoes Occupy’s analysis by linking inequality to economic instability
In questioning from audience, notes that there is ‘no great ideological chasm’ to jump on a Financial Transaction Tax and the risk of banks moving abroad is “somewhat overblown“
Many of Occupy’s concerns remain to be tackled; panellist Mick McAteer, consumer advocate and Director of[...]Read more →
Roving General Assembly decided to go to Queen Elizabeth Hall, Southbank.
Proposal: Banking Reform.
Facilitator: Chris FD.
Lots of noisy people. Great weather for people to visit the riverside.
The issues of banking reform are massive and often complex. Best ‘solutions’ in one area often depend on choices made in another and can vary over[...]Read more →
The Economics Working Group of OLSX/Occupy London have developed a Community Housingdocument to address the many relevant and associated issues. This activity has been supported by the GA of OLSX/OL and after final approval by GA, this petition was delivered by Tammy Samede, Dave Dewhurst and Chris FD to No 10 Downing Street on[...]