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crises

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This malignant persistence since September 11th is the biggest surprise of all. In previous decades, sneak attacks, stock-market crashes, and other great crises became hinges on which American history swung in dramatically new directions. But events on the same scale, or nearly so, no longer seem to have that power; moneyed interests may have become too entrenched, elites too self-seeking, institutions too feeble, and the public too polarized and passive for the country to be shocked into fundamental change.

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Ultimately, we are much more addicted than the junkie because we are responsible for not only our own demise, but the breakdown of the entire natural world. There is no other appropriate response to a situation this grave, this utterly overwhelming, than powerlessness. It has taken countless generations to arrive in this predicament; a solution cannot arise overnight. It will take work. It will take time.

AL
Albert J. LaChance

The Third Covenant: The Transmission of Consciousness in the Work of Pierre Teilhard de Chardin, Thomas Berry, and Albert J. LaChance

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Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of __he debt trap_ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker__ interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing __ail-outs_ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury__all Street__MF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, __ver fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center_. __hat a peculiar world_, sighs Stiglitz, __n which the poor countries are in effect subsidizing the richest.

DH
David Harvey

A Brief History of Neoliberalism

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Regular crises perpetuate the past by reinvigorating cycles which started long ago. In contrast, (capital-C) Crises are the past's death knell. They function like laboratories in which the future is incubated. They have given us agriculture and the industrial revolution, technology and the labour contract, killer germs and antibiotics. Once they strike, the past ceases to be a reliable predictor of the future and a brave new world is born.

YV
Yanis Varoufakis

The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy