The Financial Crisis: Five Years On01:06 - Saturday 15 December 2012 - In Category Money
Crunch too hard and you could lose a bank note or two in this dreaded time of austerity, writes Winsome ‘Lyrical Healer’ Duncan.
It’s been five years since the announcement of a double dip recession, and our economy is still in turmoil; the UK Government recently announced that one million jobs within the public sector must go.
In the 90s, credit cards were given out like sweets to children in a candy shop, and due to the sheer greed of the Western world we overspent on mortgages and loans. Now, the public have the responsibility of world debt eating out of their wallets.
Capitalism has us by the neck as we become victims of wage repression and systemic risk. With sit-ins at leading financial institutions around the world, the people are voicing their concerns and have had enough of the fat cat getting fatter off the poor man’s back.
The financial crisis is real and bad debts are everyday occurrences in the morning news. The fact is, without spending or lending there can be no growth; so this may be the time in which the financial capital takes a long hard look at how it can restructure the economy for 2013 and beyond.
Check out the quirky, yet poignant, videos above and let’s plan for better days ahead…