And So It Goes…#468


Sometimes , well quite honestly most of the time , the institutions and spokesmen of the Usurer-Capitalist system reveal their crass stupidity and incompetence with no or very little prompting. It no longer requires the sacrificial courage and endeavour of an undercover,investigative journalist to  ascertain the truth about the machinations ,plots and conspiracies of Capitalism’s governing and directing elite institutions. The OECD is just the latest example of what is actually being played out on the bridge of this particular Titanic. Gleaned from its current report on the state of the global capitalist economy :-

The OECD’s annual forecast stressed that structural reforms were essential “to enhance resilience and inclusiveness, strengthen growth and job prospects, and ease both external imbalances and long-term fiscal burdens.”

Nonetheless, the organization estimated that an extra 11.25 million extra people would be jobless by the end of next year, marking only a modest decline in unemployment.

Emerging market economies will only see modest growth, according to the OECD, thanks to tightening financial and credit controls around the world as well as “policy-tightening” such as the winding-down of the U.S. Federal Reserve’s bond buying program.

Furthermore it said that the “extent of the slowdown and the fragility of the banking system in China are uncertain.”

Gurria stressed that trust in institutions had been “destroyed” and that this lack of faith in politicians, large corporations and pan-national organizations made it difficult for policymakers to succeed with reforms.

“There is a generalized crisis of trust that makes it impossible to succeed with policies, if people are always pushing back proposals,” he said.

And from ,apparently the very same report,the Daily, increasingly deluded clutching at straws promoting economic leechcraft Mail ,somehow concocted a headline confirming the OECD’s blessing on the “successes” of the Coalition regime’s austerity program here in Yu-Kay.

Clearly the incursion of the iceberg in the engine room hasn’t impinged on the party atmosphere at the captain’s table yet.

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