S2 Ep48. The long pause. The Crisis of our Times. Part 21.

The Economic Crisis, the next horseman of the apocalypse,  is updated and explained. We are currently in a  pause as the underlying malaise is disguised by money creations and bail outs. But this only postpones and augments the crisis to come. # The post 2007/8 Global Financial Crash led to a new stage of capitalism in which massive government intervention in the financial system became the new paradigm # This was accomplished through cheap and abundant money, propping up of the financial system at all costs # Moral hazard has increased enormously # Zombified companies have saturated the economy # Stock markets have become disconnected fro the real economy # Inflation in asset and housing prices have been typical of many counties. # Increasing inequality # Paralysed or declining productivity growth rates # Astronomical and un-payable national debts which are ruinous for the future # Price discovery, the essence of the free market system has been substantially eroded   Useful links for this episode: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?end=2019&start=1973 https://www.worldbank.org/en/research/publication/global-productivity