EXTRACT: At the G20 meeting of finance ministers and central bank governors in
Paris on October 15, Tim Geithner, the United States treasury secretary,
apparently said there were “six days to save the world” - the asteroid
is approaching. So by the time you read this article you should know
whether or not his prediction has come true. Unless, of course, you were
too late …
What Geithner really meant was that the entire euro zone project was in very real danger of imminent collapse unless European leaders came up soon with the “bold” and “decisive” action they have been promising for weeks now. Failure to do so, obviously, would have catastrophic consequences for the world economy, heralding a new depression. Then it would just be a question of exactly how many banks and financial institutions collapse, and in turn how many new ‘failed states’ were created in the process. One thing that is absolutely guaranteed is that under such calamitous conditions it would be the working class which gets hammered into the ground by a despairing bourgeoisie out to save its own skin - either that or the mutual ruination of all classes, as Karl Marx warned in the Communist manifesto.
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What Geithner really meant was that the entire euro zone project was in very real danger of imminent collapse unless European leaders came up soon with the “bold” and “decisive” action they have been promising for weeks now. Failure to do so, obviously, would have catastrophic consequences for the world economy, heralding a new depression. Then it would just be a question of exactly how many banks and financial institutions collapse, and in turn how many new ‘failed states’ were created in the process. One thing that is absolutely guaranteed is that under such calamitous conditions it would be the working class which gets hammered into the ground by a despairing bourgeoisie out to save its own skin - either that or the mutual ruination of all classes, as Karl Marx warned in the Communist manifesto.
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