Oct 30, 11 • archivesNo Comments »

Is Everything Old New Again? (Or why we should read Ferdinand Pecora)

By:Arturo YARISH

November, 2010

USamerican Capitalism has entrapped itself in an entangling web of its own financial manipulation that is spreading its contagions throughout the entire globalized Neoliberal Corporate net work. Extending from Wall Street far beyond the borders of the Walled-in Nation, its Military-Industrial-Financial Complex consumes its national economy in an international corporate convulsion of incestuous self-destruction that is now sucking world-wide capitalism into its vortex.

As the National Financial System teeters on the bring of collapse and the underlying structure of USamerican Capitalism quakes, the conventional, Neoliberal economists both Neo-classical monetarists and Neo-Keynesians abandon market mechanisms and grope for more direct political controls that are taking the entire system beyond capital . Having pulled frantically and rather helplessly at the customary levers of financial control, the Wizards of Wall Street, The high priests of market fundamentalism, now reach outside the system to save it.

In the process of again attempting to rescue Capitalism from the Capitalists, the Neoliberal economists reach in to an eclectic grab-bag of historically developed economic strategies dating back to the reforms following the Panic of 1907. With courage of conviction and confidences of past successes, they vigorously apply outdated methods to dramatically changing economic problems of their own creation. In the process, wittingly or unknowingly, their extra market actions are changing the character of National and internationalized Capitalism

What lies behind the forming crisis?  What lies beyond it? Which way out?

The author, Arturo Yarish, presents an insightful innovative analysis of the present economic meltdown. Drawing on what he considers to be some of the finest alternative research by many of the best critical analysts writing today, Yarish attempts to expand on the implications of their views on fast mutating events.

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