Friday, 15 January 2010
Back where we were?
'Hurray!' they say, 'It worked. The stock market is back where it was before the crisis. Banks are handing out huge bonuses again. Whoopee!' Except that millions of people around the world have lost their jobs and/or their homes, and a whole generation is going to have to pay off the debts that the bankers saddled us with. And there has been no radical reform. The wings of extreme capitalism have not been clipped. The almighty dollar still rules, thanks to its Chinese creditors. Inequality within and between countries is still immense. So no celebration yet!