Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Saturday 27 October 2018
Debt Bomb: Are We on the Brink of Another Global Financial Crisis?
This week marks a decade since the collapse of the US investment bank Lehman Brothers triggered the worst global financial crisis since the Great Depression. What became known as the Global Financial Crisis saw banks collapse and even whole countries teeter on the brink of insolvency. While much of the world fell into prolonged recession, Australia's economy narrowly avoided that fate - but 10 years on, many individual Australians are still paying the price. Now, there are new warnings from financial insiders that the global economy could be even more vulnerable to a repeat meltdown.
