{"id":46325,"date":"2019-05-24T06:42:20","date_gmt":"2019-05-24T11:42:20","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46325"},"modified":"2019-05-24T10:04:33","modified_gmt":"2019-05-24T15:04:33","slug":"the-next-economic-crisis-and-the-looming-post-multipolar-system","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46325","title":{"rendered":"The Next Economic Crisis and the Looming Post-Multipolar System"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><em>\u00a0<\/em><a href=\"https:\/\/southfront.org\/next-economic-crisis-and-looming-post-multipolar-system\/\">The Next Economic Crisis and the Looming Post-Multipolar System<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Impending Crisis<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At one time, specifically during the post-World War 2 Bretton Woods era, it looked like as if the capitalist model could be indefinitely sustainable and avoid plunging the world into major world conflicts. That era began to come to an end during the stagflation crisis of the 1970s, and came to a complete end at the end of the Cold War which ushered in the era of the so-called \u201cglobalization\u201d which took form of unbridled competition for markets and resources. At first this competition did not show many signs of trouble. There were many \u201cemerging markets\u201d created as a result of the collapse of the Soviet bloc into which Western corporations could expand. However, the law of diminishing returns being what it is, the initial rapid economic growth rates could not be sustained and attempts to goose it using extremely liberal central bank policies, to the point of zero and even negative interest rates, succeeded in inflating\u2014and bursting\u2014several financial \u201cbubbles\u201d. Even today\u2019s US economy bears many hallmarks of such a bubble, and it is only one of many. Sooner or later the proverbial \u201cblack swan\u201d event will unleash a veritable domino effect of popping bubbles and plunge the global economy into a crisis of a magnitude it has not seen since the 1930s. A crisis against which the leading world powers have few weapons to deploy, since they have expended their monetary and fiscal \u201cfirepower\u201d on the 2008 crisis, to little avail. The low interest rates and high levels of national debt mean that the next big crisis will not be simply \u201cmore of the same.\u201d It will fundamentally rearrange the global economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0The Next Economic Crisis and the Looming Post-Multipolar System The Impending Crisis At one time, specifically during the post-World War 2 Bretton Woods era, it looked like as if the capitalist model could be indefinitely sustainable and avoid plunging the world into major world conflicts. That era began to come to an end during the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[936,1799,149,181,25939,239,25940,1732,370,25938,534],"class_list":["post-46325","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-bretton-woods","tag-bubbles","tag-cold-war","tag-crisis","tag-daniel-deiss","tag-economic-crisis","tag-edwin-watson","tag-emerging-markets","tag-globalization","tag-j-hawk","tag-monetary-policy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46325"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46325\/revisions"}],"predecessor-version":[{"id":46326,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46325\/revisions\/46326"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}