Archive for August 11th, 2011
What’s causing the market mayhem?
Posted by John, August 11th, 2011 - under Socialist Worker US.
Tags: Crisis, Economy
Comments: 7
Many factors are driving the worldwide market mayhem, including the fiasco in Washington over raising the U.S. government’s debt ceiling and the spreading “sovereign debt crisis” in Europe.
But looming behind them all are the deep-seated weaknesses in the world economy more than two years into the “recovery” following the Great Recession–and the failure of the responses to the crisis by the U.S. and other powerful governments.