Historical Roots of the Economic Crisis
Jack Rasmus is interviewed by 'Z' Magazine for
a full hour following his presentation at the Left Forum in New
York City on April 18, 2009. In the interview Jack provides a
comprehensive view of the current economic crisis to date, explains
why the latest version of the Obama-Geithner recovery plan will
not work, and why, despite all the talk about 'green shoots' and
'glimmers of recovery, the real economy will continue to deteriorate
beneath the surface. Jack predicts an even more serious stage
of the crisis will erupt in 2010, why more than 20 million will
lose their jobs this year, why business defaults will accelerate,
housing prices will continue to fall, and why the central locus
of the crisis is now shifting from the financial to the non-financial
sector of the economy. Jack also places the crisis in historical
perspective, explaining how the current Epic recession is similar
and different from the 1930s, dispels some of the myths about
the 'New Deal' of that period, and how the current crisis may
transition to a bona fide global Depression.
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