Perspectives for the World Economy: Crisis is looming High levels of growth have been achieved in the world economy, but these have been based on huge levels of easy credit, on debt. This is not sustainable in the long run. Figures on the state of the US economy indicate that the system is reaching its limits and crisis is looming.
More nerves on the stock exchange The nerves of stock market speculators can’t be in too good a shape these days. Wall Street has just suffered its second biggest point drop in four years. This immediately spread to Asian stocks markets that suffered serious falls.
World stock markets in turmoil China hints at a tax on capital gains and the Shanghai stock exchange falls by 10%, but then the fall affects all the other major stock exchanges. What does all this indicate? Michael Roberts gives his view on the question.
