Europe and Now China in Economic Crisis! Who is Responsible? What’s Next?

11 07 2015

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Some are already comparing what’s happening in China with 1929 in the USA — the Stock Market Crash that set-off the “Great Depression”.   And though there are major differences, especially because China’s stock market while massive still does not play a dominant role for most Chinese whose wealth is saved in banks and real estate.

Even so consider this:  In the past month more about $3 trillion in value has evaporated since the Chinese stock market peaked on June 12.  That is more than six times Greece’s entire foreign debt, or 11 years of Greece’s economic output!

Remember that it was really the American economic debacle nearly a decade ago now that triggered all the many  economic crises across the globe in recent years.  The American bankers and their complex, extraordinarily self-serving economic arrangements lie at the heart of what has been going on in Eruope and globally.  When you are the world’s superpower, you should be made to take responsibility for what your policies have led to from Iraq to Syria to Palestine, from Ukraine to Greece, and even to China.

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