[IMC-UK-Features] [Imc-uk-process] Economic Collapse topic was Re: proposal - banking feature

[atw]

I think 'collapse' is the correct term. George Soros has described 
the current crisis as more like what happened to Russia in the 90s 
than 1929 ie. a collapse.

Russian writer Dmitri Orlov, who witnessed the Russian collapse 
first hand, and has written at length about this one, describes 5 
stages of collapse and would call this:

Stage 1: Financial collapse. Faith in "business as usual" is lost. 
The future is no longer assumed resemble the past in any way that 
allows risk to be assessed and financial assets to be guaranteed. 
Financial institutions become insolvent; savings are wiped out, 
and access to capital is lost.

And stage 2 is probably not too far off:

Stage 2: Commercial collapse. Faith that "the market shall 
provide" is lost. Money is devalued and/or becomes scarce, 
commodities are hoarded, import and retail chains break down, and 
widespread shortages of survival necessities become the norm.

http://cluborlov.blogspot.com/2008/02/five-stages-of-collapse.html


Whilst I appreciate such terminology may scare or upset some 
people I think it's the job of the mainstream to hide reality 
behind euphemisms. Indymedia's job is surely to expose that.

Finally if you take into account that one of the main causes of 
the current crisis was global peak oil then it's hard to see how 
any meaningful recovery will ever occur now with a permanent 
decline in global oil supplies.

cheers,

steve



>> Ok I'll try and explain things a bit more.
>>
>> When I said the reference to 'economic collapse' was too apocalyptic,
>> the reason I used this word is because I feel it robs us of any agency
>> ie. the agency to radically transform capitalism.
>>
>> Most if not all our topics are orientated politically around our ability
>> to resist or transform things. I think this is important and it's
>> something we could have consensus on, whereas I don't think we're gonna
>> generate any consensus on some contested analysis of the economy.
>>
>> Solid.
>>
>> phunkee
>>
>> __
>> Imc-uk-process mailing list
>> Imc-uk-process at lists.indymedia.org
>> http://lists.indymedia.org/mailman/listinfo/imc-uk-process
>>
> 
> 
> --
> Indymedia United Kollektives editorial mid-column features
> http://lists.indymedia.org/mailman/listinfo/imc-uk-features
> 
>