COVER STORY: Global instability and debt undermining democracy
The world’s central bankers believe that the world faces the prospect of more bubbles, financial crises and currency collapses because of their inability to fix the world trade and global financial systems. The recent meeting of the world’s central bankers in the American city of Jackson Hole, Wyoming, was marked by a fatalistic acceptance that they lack the tools with which to fix the flawed global trade and financial systems, according to Robin Harding of London’s Financial Times.[1] Certainly, central banks and governments managed to stop the 2008 global financial crisis (GFC) from deepening into another 1930s-style Great Depression. They…
