Category: Upcoming

A Bleak Road Ahead for the Global Economy – Greg Godels – Sunday, June 4, 2023 10:30 AM Pacific Time

The International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Bank – three of the most highly regarded international economic organizations – all predict lowered growth expectations for the decade ahead. If three major capitalist institutions are foretelling economic uncertainty and instability, it is because we are exiting a distinctive era of capitalist restructuring. That era gave capitalism a new lease on life, with growing profits, hyper-accumulation, and vastly expanded speculative investments. Little of that enrichment was shared with the masses, resulting in unprecedented inequalities of income and wealth.

According to our speaker, Greg Godels, liberal and social democratic economists decry the Federal Reserve’s strategy, but they have no alternatives to offer. They are content to leave the management of the capitalist economy to the capitalists, while denouncing their remedies. Clearly, the capitalist ship is taking on water, buffeted by a global pandemic, raging inflation, a European war, and bank failures. While there is no reason to expect the ship to sink, serious alarm bells are going off. He concludes, we are entering a period of growing uncertainty and conflict.

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