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[...]
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By March 20, 2013 Category: Austerity, Banking and Money, Economics, Economics WG Blog, Finances, Housing, Land, Markets, Securities and Derivatives, News, Newsletter, Newswire, Policies, Press releases, Uncategorized, Working Groups No Comments 
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[...]
By February 16, 2013 Category: An Occupier's Perspective, Banking and Money, Economics, Economics WG Blog, Finances, Markets, Securities and Derivatives, News, Working Groups No Comments
