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Who are the beneficiaries of the global financial crisis?

The storm of the financial crisis haunts mankind. Technically, it started in the US. It quickly expanded to Europe. Then, it hit the Asian stock exchanges. From the financial crisis, the hurricane invaded the capital market. Clogging the confidence channels on which the money required to irrigate the real economy circulated, it pushed it to dryness.

Although they do not yet seize the danger at its real dimension, the Romanians already see how certain factories close down, how some investors leave the country or defer their arrival, how unemployment grows concurrently with the credit interest rates, how their fellow citizens who sent them money working abroad return home increasing the pressure on the labour market, how the RON weakens and the stock exchanges fall.

For whom is such a fever beneficial? Is it absolutely natural? Had it been possible to avoid or postpone it? Was anyone interested to provoke it? The fever is not a disease, it is a symptom which shows the fight of the body with the fever. Then, who fights and with what disease?

The invasion of Georgia last August by Russia, followed by the inability of the Euro-Atlantic powers to stop it to do in its strategic vicinity, at a distance given by the length of its arm, what they had done in their vicinities, increased abruptly the popularity of the war camp in America and of its candidate John McCain. The perspective of a new world confrontation similar to the Cold War must have obliged the international plutocracy to carefully evaluate the situation. What conclusions could be reached?

The collapse of Soviet communism at the end of the 20th century had left its opposite, the American neo-conservative and neo-liberal capitalism, alone on the battleground, in the position of apparent winner. Devoid of adversary and not understanding to get reformed (i.e. not understanding that at history scale the contraries die together), and also being unable to function in the absence of an enemy, it reinvented a new target: the Islamic fundamentalism and the regimes of the decayed states which backed it on an axis of the evil with terrorism as main instrument. (The similitude between the themes and the arguments of the western propaganda in the Cold War and the War against terror is quite interesting.) The new Conservative crusade requested, like any other, funds. In the race for money, the military-industrial complex stimulated, through the exacerbation of the neo-liberalism, the growth of the virtual economy. The longer the war was and the worse were its results, the more did the pressure of the neo-conservative hawks on the banking aristocracy increased, obliging it to produce money on account of goods that had not yet been produced. Thus, the profit made through operations vitiated by the risk of issuing some non-existing material values has exceeded several times that which is based on the economic reality of the day. In the domain of the economic and financial security, the bow too tightly strung was ready to break in front of those who keep it in their hands. In the domain of the political and military security, the effect of the described policy had been the consolidation of terrorism and the resuscitation of Russia as global power.

From such a perspective appear the positive consequences of the crisis. The suspect bankruptcy through its hastiness of a single bank (Lehman Brothers) produced three effects with one coup: it stopped the popular support for the neo-conservative war policy, forcing also the return of the American electorate towards the Democrat Barack Obama; it prompted the renunciation to neo-liberalism making necessary the intervention of the state for the recapitalization of the banks from public money, curing the financial market on the medium term and thus rescuing it; it landed a terrible punch to the Russian economy dependent on the oil rent, leaving without resources its neo-imperial projects (because the fall of neo-conservatism conducted also to the fall of the oil oligarchy associated with it, together with the price of the black gold).

Like in a chess game, by sacrificing one piece the plutocracy wins the game. Thus, a historic cycle comes to an end. Only now it is possible to really speak about the end of the Cold War. But, the certainty of the end does not guarantee the future. It remains to be seen if the pain of the crisis will determine the people, who will feel it most, to better understand its leaders or will push it on the toboggan of death under the temptation of anarchy, populism and nationalist revanchism.

 

Sursa: http://www.nineoclock.ro

Tags: money crisis financial euro

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