"We live in an unstable world, and the instability is going to increase. it is a world where a billion people feel hungry everyday, and the hunger is going to increase. In mid 2007, a number of banks suddenly discovered they could not balance their books and stopped lending..."
"Capitalism has Failed" (tags)
"The investments of businesses are ridiculously low, as low as after the Second World. The reason for this may be the immense indebtedness of private households. The only thing that blossomed in the US in the last years was Wall Street-that is now killing itself.."
Welch's Marvelous Transformation (tags)
Nearly all the excesses summarized unter the terms turbo- or casino capitalism are based on the ideology of shareholder value: the rule of financial markets over the real economy, the short-term and short-sightedness of shareholders and waves of rationalizations."
A whole manager generation will have to be retrained or change its ideas. Life is measured in money by such people becaused they learned this as the ultimate truth in their training, not because they are immoral or amoral. Countries that once amassed dollars to buy oil are now unloading dollars to diversity their holdings.