The Global Financial Crisis: The Great Depression of the 21st Century Chossudovsky's Jan 14th lecture in Montreal (video)
- capitalism not operating by supply and demand anymore for many years - Today, speculation rules markets. GDP is meaningless.
- physical/real economies in trouble for over ten years
- there was a Canadian bailout to the banks. Harper mentioned a few billion leading up to the election, but two weeks after that, it was $75 billion to Canada's deregulated banks (pro rata cut&paste of US $700B bailout)
- US $700 billion dollar TARP/socialism for bankers and financial capitalists is actually several trillion dollars more than that
-US TARP/socialism for the rich actually more transparent than Harper's socialism for deregulated banksters here in Canada
*bottom line is that we can expect more neoliberal austerity - more privatizations of health care and public services and assets - more slashing of transfers to provinces to pay for this round of non-transparent programs of socialism for Canada's big time banksters
He mentioned the name of one Quebec entity that is likely to be pawned off, but I couldnt understand what he was saying, sounded something like "EE-raw Quebec"
It's quite long and discusses neoliberal economic history back to the 80s and 90s. This is financial capitalists maneuvering to take over physical economy means of production and assets from recent physical economy owners- more concentration of wealth (and power) in the few hands of those who have it.