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Economy Towards the global financial crisis

As the ongoing financial crisis is accelerating, we rise to all sorts of explanations of why the U.S. financial deterioration could not be contained, and why the economic recession in that country now it threatens to become global economic recession. Until recently, the chorus of official spokespeople flatly denied that this could occur. Still, the structural foundations of the unfolding crisis remain hidden, as if ignoring them would give a break to those who are looking for ways to "restore" balance. Within

structural phenomena more relevant today is the unprecedented increase in world trade of fictitious capital during the past decades. This has allowed debt levels are also unusual, not only states but also to businesses, households and individuals.

giving samples of a degree of socialization of economic relations unthinkable a few decades, global capitalism gave way to the production and trade of the most exotic forms of capital symbols. Most pension funds and other funds are "deposited" into such roles. Material wealth was replaced by legal relationships of indebtedness. In many countries, people even went into debt to buy symbolic capital and share in the gains offered by trade. The process was very dynamic during the last decade, symbolized by the paper value of fictitious capital grew much faster than the real economy. Until the beginning of the current crisis, that value was more than five times the world output, ie the value of everything produced annually in the world in goods and services.

Thus, it was creating an imbalance between the nominal value of fictitious capital papers circulating in the world and the real capacity of the economy world to produce equivalent values. The rate of real capital accumulation has been well below the rate of accumulation of fictitious capital. The reality has distanced itself from fiction so that even the most deluded people have begun to doubt the values \u200b\u200bof the roles that symbolizes wealth. Time trying to get rid of them, have caused the collapse of various financial market segments worldwide. Even the most blatant maneuvers rating agencies have been prevented.

The serious problem is that it has begun a widespread devaluation of existing fictitious capital. It says so there has been an over-accumulation of fictitious capital, and subacumulación real capital. The losses are now suffering banks, funds and other institutional investors, and as a result the people are the result of this over-accumulation of fictitious capital. Some bankers and "investors" have discovered with astonishment that today many of the roles of symbolic capital are priceless. Therefore, the strategy of rescue of Citibank, based on creating a fictitious price for fictional roles, has failed miserably, despite the massive cash injections by central banks in the U.S. and the Eurozone.

The over-accumulation of fictitious capital has a double effect, which threatens to deepen. On the one hand, detract from many of the roles symbolic capital in circulation, causing losses that could blow over any of the major international banks. On the other, making it increasingly difficult to finance fiscal and trade deficits by issuing new equity symbolic roles.

Therefore, it is entirely illusory idea that the current financial crisis could be confined to certain countries, eg U.S. World trade necessarily be affected, unless that is supposed possible to establish a fully balanced world trade, but dynamic, excluding U.S. This is simply absurd vision of those who make merry with accounts international reserves accumulated in the "emerging economies" in recent years.
The current financial crisis is structural and global. Capitalist socialization, however much progress has been made does not exceed the limitations of an economic system based, ultimately, not in the collective interest, but individual. Pretending that nations are better prepared "to deal with it, is to ignore their structural nature. Pretender coping with individual state action, is to ignore its global nature. The answer to the crisis should be both structural and global. But it is clear that lack the institutions to even conceive of a response of that nature.

Alexander Schubert, an economist and political scientist.

Where Put The Stayfree

New Statute not Bet SME Development

( Published in Estrategia newspaper in January 18/2008 )

recently unveiled the contents of SME Statute, which would aim to support the development of this ailing sector which represents the overwhelming majority of companies more than 90%, gives about 70% of employment, however, represents less than 4% of exports and hopefully 15% of internal billing. The new Statute

SME seeks to promote good regulatory practices to avoid transaction costs, extend the powers to grant temporary permits, including toilets, including facilities providing payment or exemption from payment of provisional patents to companies that apply for the first time. So, too, seeks to promote transparency in the application of fines, reduce the amounts of these smaller companies by replacing them with skills for work, facilitate access to voluntary insurance of occupational accidents and diseases to employers and / or owners of small businesses and special protection rules apply to small businesses when they act as consumers. Moreover, extending the tax credit percentage (4% to 8%) for investments in machinery and infrastructure subscription strengthen Clean Production Agreements. Finally, we propose a support mechanism for insolvent companies to restructure or close.

None of this is wrong, but does not reflect the real problem of small business: market without facing a dynamic and extremely impoverished. This sector does not export to major markets and has no mechanisms to encourage their integration into markets where it has comparative advantages as are the markets of poorer countries, which is due to a foreign policy that looks primarily to the rich markets that buy our commodities premium and where the company has extensive mega arrival because it lies precisely in the area of \u200b\u200bnatural resources. Moreover, the domestic market, which is currently developing the SME market is sluggish due to the enormous concentration of wealth. 80% of Chileans do not have 160 thousand pesos per month to meet your needs. That the purchasing power facing SMEs and the level of resources, we can hardly give more dynamism to this sector, but this new statute is not responsible or perchance the problem.

Marcel Claude, an economist.

Cosmetics Import Tax Bc

Chile Matías Words Catrileo (Mapuche Student Killed by Chilean Police)

Left Side Back Pain Above Waist

Message from Jail for Patricia Troncoso (Mapuche Political Prisoner)

Shortest Skirt No Panties In Public

Given the decision of "Liberty or Death" of the Mapuche Political Prisoners and Silence of the Chilean authorities in the Fiscal Deficit

those who signed this letter (professionals, intellectuals and artists, the Mapuche and non Mapuche) call on individuals, organizations and institutions that respect the right to life in solidarity with Mapuche political prisoners who remain on hunger strike, protesting by the unjust sentence which the courts have imposed. Demand, while the political and judicial authorities of the country for the immediate revision and revocation of the process that has been sentenced to 10 years and one day in prison, a process that has been scandalous irregularities such as the use of faceless witnesses payment to them of twenty million pesos for their statements.

Continue Here Mapuche Campaign for Cause

How To Do Half Head Highlights

(Published in Strategy Journal 04/01/2008)

This week the government decided to "borrow money" to the State Bank to finance the deficit Transantiago. This mechanism was substantiated by the Minister of Finance, Andrés Velasco, such as a bank credit to private sector and that under no aspect should be considered as a self-loan.

What the minister has demonstrated only is that just as there are different perspectives and viewpoints to all things, there are different ways to explain transactions which have the final prestige of objectivity. What the minister is not saying a thing is objectively explain things and another to give a rational justification for an economic absurdity as is the Transantiago. I mean it's an expense that grows exponentially every day, the larger the deficit and even the minister know how much, for a service if it improves, it does so minimally.

More curious is the huge contradiction between the obsession with the fiscal balance of Treasury and this insane waste Transantiago. When it comes to funding education or public health and adjustment of minimum wage, draconian and final criterion is: prudence in the management tax. But when it comes to tragic operated by private transport, fiscal balances are not even close by in the minds of the authorities.

we are told, is to meet the needs of the people and solve the transport problems that have brought such indignity, but the primary reason that has caused so many troubles to citizens, is that the system was never intended to serve the public interest but rather, the private interest. The more serious part of the funds and tax credits to finance the deficit Transantiago are targeted profits of operators.

It is shown then that the obsessions fiscal balance are the only arguments to facilitate the pursuit of private interest and nothing else. When deficits are to increase the minimum wage or improve education, is wrong because it strengthens the public sphere, democracy, social justice. But when serving private interests, no expense is spared because it means more government officials and educated citizens, but only the most profits for private business.

Marcel Claude, an economist .