Death-Watch Updates on the Collapsing Global Financial System

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Death-Watch Updates on the Collapsing Global Financial System

Manic Monday Becomes Turmoil Tuesday as China Rocks the Global Boat

"Flat is the new up."


Even the Dumb Money is Dumping Stocks Now

"...Bloomberg reports that some two years after Leon Black's 'sell everything' call, 'other private equity firms are following suit - dumping stakes into the markets at a record clip.'

But now, even the dump money has joined the party and for the second consecutive week. If price insensitive buyers (which as you can see from the above, are all that are left) become sellers, will the entire market collapse?


We´re now in a race to see whether the financial system goes, well before the electoral vote, although any of the neoliberal parties that gain power will have a real mess on their hands, so I anticipate political turmoil to come for Canada for the long term!

This last week, the media industry took a drubbing...this is following a long line of artificially created bubbles bursting in the emerging stock and bond markets, the commodities markets and the energy industry, which hangs on a thread of increasing junk bond issuance. 

If investors pull the plug on continued loans to the energy companies, bankruptcies will be out of control.

I hope to include regular updates here as well, with references from the investment community, I´m receiving updates from.

My point stressed in so many threads is that we better be prepared with political options, when the time comes, which may be any time now!
There is little holding the whole financial structure together. And remember! Our economic system is built on debt. If debt collapses, the corporate economic structure will be paralysed! 

Bec.De.Corbin Bec.De.Corbin's picture

You better be prepared with more than "political options". You better arm yourself (just in case it really gets that bad). 


Collective Life Capital: The Lost Ground of the Economy  -  by John McMurtry

"In this analysis, the author explains collective life capital as the missing base of the economy under systemic attack by life-blind market globalisation, and defines the life-value standards and compass to steer out of a cumulatively eco-genocidal disorder to real economic sustainability...


I'm stocking up on ice cream as we speak...


Keiser Report: 'Planet Ponzi'

"Max Keiser and Stacy Herbert are joined by Mitch Feierstein of to discuss the solution to global ponzi schemes as a source of economic activity..."


jas wrote:
I'm stocking up on ice cream as we speak...

Popcorn here.


Bec.De.Corbin wrote:

Anyone for an oxymoron watch thread.

Bec.De.Corbin Bec.De.Corbin's picture

Laugh all you want till you realize you can't defend yourself or your family when everything falls apart (like you been wishing).


As long as 'American Psycho' doesn't decide to come north, we should be fine thanks anyway. And if it does all come crashing down, it'll be predominantly US bankster-gangster imperialism that made it all happen that way. That much is clear.


I think this belongs here:

John Kerry Warns "Dollar Will Cease To Be Reserve Currency of the World" if Iran Deal Rejected (and vid)

When a US Sec State alludes to the US dollar in this way one can't help but notice...


Bec.De.Corbin wrote:

You suggested that being armed in a crisis situation isn't a political act in itself.  That was what I saw as an oxymoron, when you said that in addition to undertaking political acts in the event of a financial crisis, a person should also consider arming themselves.  I know that for many, anyone other than the state who bears arms is likely a terrorist, but I take a more pragmatic approach, and as such I am not against ordinary citizens owning guns.

It's true that I would prefer it if the existing political systems in the US, Canada and Europe were to fall apart, but not people's lives along with it.

ikosmos ikosmos's picture

The subject here overlaps with a thread that I have been contributing to over a number of months. Has the Unipolar World Finally Come to an End? is a thread that I started in March of last year and it is still going with the ocassional contribution.

I think it's important to understand that some MSM predictions of a financial, or other sort of, apocalypse reflects sometimes the desire to see Western, primarily US, dominance continue in perpetuity. And, therefore, any change in global arrangements are viewed as "a terrible disaster". But these other, BRICS-related, alternative institutions are marching forward and may be expected to play a more and more significant role in the future.



The benefits to focus on the global finances, is partly to offer a collective kick in the arse re the imploding crisis, now! Not so much for each, to head to the hills, get their hardware together...typical individualist response, but to spur us to discuss strategy and visionary collective action, and secondly, to explore the contradictions of this casino that our survival depends on!

The collapse of the Chinese markets means a serious financial deflation, loss of global liquidity. A loss of such financial assets generally less leverage of capital, a drop in the quality of financial assets to junk status and a vicious cycle of panic selling to keep quality or moneyness of the assets.The consequent devaluation of the yuan, which has set the scenario of panic currency wars, is also a major hit to the yuan/dollar carry trade, the source of so much financial profit to the corporations, that is the borrowing of zero interest dollar assets to invest in stable yuan currency assets at high yield and no risk...til now.The chinese devaluation is a shock to the confidence of the yuan. That is there´s no profit of higher interest rates if the stability of the chinese currency is in question! This is what has shocked the US markets as the paper profitability of the companies of supposed production capacity is at risk. There´s no profit nowadays in production, rather in such paper shuffling!

This interelationship of financial instruments globally has the weaker assets of higher risk spiralling the whole system to crash!

This is to point out that the entire global production system is built on questionable debt, a pile of toxic waste called junk assets.

My point as ever is that to talk about alternatives means to look at the scam finances, to build a system on a stable foundation of currency and credit, based on something real!The timing of the collapse and corporate economic paralysis and bankruptcy is nearing!

We´d better extract whatever scraps of working capital we can now, to dedicate to something of substance based on human values!

The elephant in the room of course is the quadrillion dollar derivative trade...I hope to explore the threats to its stability next!


Will put this here because the challenges of our present predicament, including the state and oppression by the global economic system, will be best analyzed, faced and struggled against utilizing 'elements of the classic models' of political theories and traditions discussed. Rancourt suggests a flexible, varied approach borrowing from each, as necessary, rather than one or the other, 'in our active struggle for freedom and meaning.'

The Classic Political Theories of Socialism, Capitalism and Anarchism are Unrealizable  - by Denis Rancourt

"...If we understand that there is no ultimate victory, that there will be constant assaults against the individual and community, and that political theories are merely useful conceptual aids in combat against the voracious monster that is the occupying dominance hierarchy, then we can best choose how to utilize elements of the classic models in our active strubble for freedom and meaning.

The undeniable reality on the ground must inform our actions rather than any particular theoretical idealization..."


Given the truth of the potentialites of dominance and control, at personal and institutional levels, along with other such tendencies as pychopathies, perversions, criminalities and all forms of corruption, the conclusions of the article are illogical...

What our task as progressives is to develop through practice systems, rules and regulations and institutions at all levels of human culture and organization that would contain such tendencies. Sure classical theories are the need to improve based on our more recent history of the perversions based on the corporatist neoliberal models...


Perhaps my pull-quote was confusing. Give it another go Iyra. I don't see your take as irreconcilable with his.



This comment made my blood run cold.  Good luck seeing our existing political systems disappear with no effect on people's lives....





BillBC wrote:




John Ficenec
London Telegraph
August 17, 2015


With the Chinese depegging their currency from the US dollar, are they preparing to watch the dollar collapse, what with US economic stagnation and forced renewed Quantitative easing?

And with the ongoing carnage in the Yuan Dollar carrytrade, threats to the hedge fund industry for reliance on this trade? and increasing flight from the bubbles of the Chinese financial system? Forcing the Chinese to dump their US currency assets?


¨Good luck seeing our existing political systems disappear with no effect on people's lives....¨

This is precisely my point...with no interest just to scare people into reality out of their Canadian media based fantasy...

If activists with some awareness and concern for public security don´t act? And build movement?

And with Canada´s economy overindebted saturated at every level, municipality, corporate, personal...unless we are prepared, everything will grind to a halt! total paralysis!


from Denis Rancourt.....

No his general relativism doesn´t sit well with me...

...travelling back to my home town here, a fiend climbs on the bus, signalling me to sit beside her...she´d just returned from the city and the meetings of the Plataforma Nacional, 5000 delegates.....many penniless campesinos, gathering from across the country, an expensive proposition, but financed by their community organizations...meaning indirect participation into the hundreds of thousands...

She participated on behalf of Defensoria Maya, giving me her precious copy of their program....a system based on the ethics of Nature, natural production and humane noncapitalist distribution systems....going back thousands plus years...a system of ideas, perhaps the basis of the ongoing revolution here, soon coming to its climax.....


Of course the combination of collapsing oil prices and skyrocketing junk bond interest rates which sustain the Canadian energy system means bankruptcy in spades.....


Michael Snyder
Economic Collapse
August 19th, 2015

Yields on the riskiest junk bonds are absolutely soaring and the price of copper just hit a fresh six year low.

.  The following comes from a Wall Street On Parade article that was posted on Tuesday entitled “Keep Your Eye on Junk Bonds: They’re Starting to Behave Like ‘08“…



And right now we are seeing the most volatility in the junkiest of the junk bonds.

The following comes from Wolf Richter, and my jaw just about dropped to the floor when I first saw this…

This chart of yields at the riskiest end of the junk bond market – bonds rated CCC and below – shows what happened. These bonds have been selling off over the past 12 months, with exception of the sucker rally earlier this year, and their yieldsmore than doubled from less than 7.9% in June a year ago to 16.2% by Thursday evening. And Thursday was a massacre:

riskiest junk bonds

On Thursday, yields jumped 2.6 percentage points, from 13.58% to 16.18%, as these junk bonds plunged. Those kinds of single-day vertigo-inducing sell-offs are rare in normal times, and there haven’t been any since the Financial Crisis.



World Capitalism 'Toboggans Toward Catastrophe'

"The world economy is like an ocean liner without lifeboats."


Panic Sell-Off On World Financial Markets

"The meltdown on equity markets is being driven by signs that the world economy is sliding into a new recession or outright depression..."




Black Monday

"This is a real disaster and it seems nothing can stop it..."


Panic! All Major US Equity Indices Halted

"The S&P 500 Futures is halted for the first time in history.."


Global Ponzi Scheme Threatens to Implode

"...The global panic which has wiped out over a trillion dollars in stock values in the US alone, has shattered the claim that the US and world economies are in the midst of an economic recovery.

The intensification of the economic crisis sets the stage for immense social struggles."


"What was historically considered the normal paradigm—investing capital to build factories and mines and carry out research and development, hire workers, and generate profit from the surplus value extracted through their exploitation—has become almost incidental to a ceaseless, feverish scramble for ever-higher yields from various forms of financial manipulation and outright fraud."

...thanks for this, which pretty well sums it up! As we watch the catastrophe unfold before our eyes...another major decline today across the board...setting up for a real blowout tomorrow!

What this thread and "issue" suggests best of all, is the total irrelevance of our Canadian political institutions; Parties, media, so called think?tanks...laughable to hear their opinions as the system comes crashing down....

Unless people, intellectuals, activists don't start paying attention here, to try to make sense of what's happening, to begin building alternative solutions, and for this electoral cycle? (Though not to worry, the collapsing system in Canada, so dependant on the collapsing commodities and financial sectors, will bury governments as fast as they are created.....

What is urgent now is to prepare for the government responses, which undoubtedly include bailouts (of the corporates) and bail ins (of the people)...No bailouts to the perpetrators of this corrupt system!

The problem of course will be the desperation of the people without means to sustain themselves...this must be on the top of the Agenda of movements to offer the political alternatives!


I don't see the need for any centralized "movement" to try and handle anything here. A lot of autonomous structure is already in place, as well as co-operative organization. Solutions for survival (if this is what you're warning about) and restructuring will be found at the individual and community level. If you're talking about some long-fantasized "revolution" at hand, it will never come this way, and that's a good thing, imo.

Bring it on!



I don't see the need for any centralized "movement".....

I agree about the centralism part, most of what you say...what is needed though is a national movement based in the power of the community, via some form of general assembly per community, a federalist approach from the  bottom up!

There have been lots of revolutions, fundamental restructuring of Society and culture cooming this way, all to the bad destroying community, culture, and technology, what I call natural economics from the ground up, destroying our civil rights ad nauseum...time for some good ones I would say! to continue as we're going, means misery and destruction for the most of us!!


Economic Destabilization, Financial Meltdown and the Rigging of the Shanghai Stock Market  - by Michel Chossudovsky

"...While the Pentagon and NATO coordinate military operations against sovereign countries, Wall Street carries out concurrent destabilizing activities on financial markets, including the rigging of the oil, gold and foreign exchange markets directed against Russia and China. Are we dealing with 'financial warfare' directed against a competing world economic power?"


Smoke and Mirrors of Corporate Buybacks Behind the Market Crash (and vid)

"Michael Hudson says the stock market crash on Monday has very little to do with China and all to do with shorterism and buybacks of corporations inflating their own stocks..."


CrossTalk: Recession 2015? (and vid)

"Are we experiencing the Great Recession of 2015 or merely a painful paradigm shift in how the global economy is run? Many in the West quickly blame China for mismanagement of its economy and currency. This may or may not be true but this is only a small fraction of a much bigger story. Has anything been learned since the financial crisis of 2008."

CrossTalking with Mitch Feierstein, Stephen Keen and Mark Weisbrot


More Signs of Global Downturn Send Stocks Plunging Again

"The world's governments and central banks responded to the 2008 financial crisis by blowing a massive financial bubble and transferring trillions of dollars in social wealth from the working class to the financial aristocracy.

Seven years after the collapse of Lehman Brothers, the global capitalist crisis is once again exploding with full force."


what will it take to bring the crisis, now being faced by most of the planet, home to North America, in full force, and thereby wake people and activists up from their daydreams of reality?

Watch the US dollar!

" Russian president Vladimir Putin has proposed a bill to the country’s legislature to eliminate the dollar and the euro from trade between member states of the Commonwealth of Independent States (CIS).....".....

The Chinese Government desperately continues to maintain the yuan peg to the dollar, as its economy, finances and world confidence continues to cashing in their US treasury bonds, 100 billion last week!

Meaning! That US treasuries will no longer be considered an investment of safe haven, as everything else continues to deflate...

Can there be any doubt now, that the world is tossing the US dollar as global reserve currency?

Meaning that interest rates in the USA must continue to rise...which of course spells disaster for the real estate bubbles of North America....


Return to Crisis: Things Keep Getting Worse  -  by Mike Whitney

"...The virus that spread to stock markets around the world and nearly destroyed the global financial system in 2008 has re-emerged with a vengeance..."


the race is see if the real estate market in Canada, especially BC takes its Chinese investors are forced to pull out by Chinese Government decree and control over everything of the so called free market system....before the election...whatever!
The paralysed tied party system will inherit total collapse, with of course not a clue as to the cause nor the cure!

Where will the alternatives come from, I wonder.....

Aussie Property Market Collapse Looms As Chinese Flee Amid Capital Controls Tyler Durden's picture Submitted by Tyler Durden on 09/15/2015 21:00 -0400


Given the recent admission by the Australian Central Bank that property prices "have gone crazy," it appears new Chinese 'regulations' may just kill Australia's golden goose of 'weath creation' as Aussie's largest trade partner sees its economy collapse. While the Aussies themselves proclaimed a "war on cash," it appears, as AFR reports, that Chinese purchases of Australian property have dropped significantly in the past month, according to agents, as buyers struggle to shift money out of the country following Beijing's move to tighten capital controls. With Chinese banks now limiting any overseas transfer to USD50,000 - in an effort to control capital outflows - and with China dominating the Aussie housing market, one agent exclaimed, "it has affected 70 to 80 per cent of current transactions and some have already been suspended."


Ultimately economic fundamentals do matter! And watch these complex financial instruments and their derivatives! As they will be the death knell to the present system!


"No Escape for China Hedge Funds Overwhelmed by Stocks Crash Bloomberg News September 15, 2015 — 3:00 PM PDT Updated on September 15, 2015 — 6:35 PM PDT .....


  • Almost 1,300 funds closed in China's $5 trillion stock plunge
  • Government restrictions make bear-market bets more difficult

It’s about to get even uglier for China’s hedge funds.

The newfangled industry, short on expertise and ways to protect itself from market declines, has seen almost 1,300 funds liquidate amid China’s $5 trillion stocks selloff, and a similar number may be at risk, according to Howbuy Investment Management Co. Now, a government crackdown on short selling and other hedging strategies have made prospering in a bear market difficult.

It’s an inglorious turn for China’s on-again, off-again love affair with stocks, which saw the number of hedge-fund-like vehicles explode in past years as the government made it easier to register funds and introduced new financial instruments. The market rout -- and the regulatory response to it -- has revealed cracks in the industry that suggest it may need years to recover. In the most devastating blow to domestic hedge funds, China has imposed new restrictions on trading in stock-index futures, a key investment strategy to dampen volatility and avoid big losses.

“It spells the end, at least temporarily, for China domestic hedge funds,” Hao Hong, chief China strategist at BOCOM International Co. in Hong Kong, said in an interview.


Markets Gone Mad  -  by Mike Whitney

"Imagine your doctor put you on a daily dose of oxycontin, phenobarbital and Quaaludes for five years straight. Then he suddenly cancelled your prescription.

This is what's going on with the stock market.

The economy is soft, the markets are zig-zagging wildly, and the whole bloody contraption looks like it's ready to blow..."


Watch Glencore...which is taking another big hit today...this is the counterparty monopoly in the collapsing commodities markets, the collapsing emerging markets equity and now becoming junk bonds (Brazil, venezuela, Turkey et al...)

A collapsing drivatives market over 750 trillion to 1.4 quadrillion market? means the final death strike!


OPEC Is About to Crush the U.S. Oil Boom  Grant Smith from Bloomberg.......

I will begin again to try passing on info re the collapsing world financial order, recognizing here that for the most part

progressives have a deep and undying faith in the system...

the NA oil industry is downsizing to stem their losses...their major investment banks are passing on their losses to unsuspecting investment community, including mutual and pension funds likewise having a fundamental faith in the system, until of course it crashes, while the Big banks think they will escape the damage.

It only means the crash will be general and universal!


This is the kind of data that cannot be doctored by the elites, unlike so called GDP, Unemployement ad nauseum!


If Caterpillar's Data Is Right, This Is A Global Industrial Depression  Submitted by Tyler Durden on 10/21/2015 15:21 -0400


Why is this important? Because a month ago we asked: "What On Earth Is Going On With Caterpillar Sales?"

We have been covering the ongoing collapse in global manufacturing as tracked by Caterpillar retail sales for so long that there is nothing much to add.


from WSWS...






Global Debt and GDP- 1994 and 2014

"The effect of that freakish $185 trillion debt eruption was a worldwide crack-up boom. It was initially manifested in a massive expansion of unsustainable debt financed consumption in the US and other DM economies and runaway fixed investment in China and the other EM economies which supply it."

from David Stockman....

let's see here, 147 trillion increase in debt brought us 12 trillion in gross GDP increases?

Now GDP in world decline? And who is to pay for the gigantium debt costs?

This graph by itself lays bare the irerelevancy of Canadian politics..for now!

epaulo13 epaulo13's picture

thread drift...

Iceland Sentences 26 Bankers to a Combined 74 Years In Prison

In a move that would make many capitalists’ head explode if it ever happened here, Iceland recently sentenced their 26th banker to prison for their part in the 2008 financial collapse.

In two separate Icelandic Supreme Court and Reykjavik District Court rulings, five top bankers from Landsbankinn and Kaupping — the two largest banks in the country — were found guilty earlier this month of market manipulation, embezzlement, and breach of fiduciary duties.


...end drift


@ epaulo13 - a good start and example for the rest of us!

Central Banks Boost Stocks As World Economy Sinks Deeper into Slump

"...There is no recovery in the global economy, as one emergency measure is piled on another, and those in charge of economic and monetary policy have no idea how to engineer one. This is not the result of some intellectual incapacity. It arises from the fact that the crashes of 2008 were not a conjunctural crisis, but a fundamental breakdown of the global capitalist system, which has continued to deepen."



...the rule of the bourgeois democrats, from the very first, will carry within it the seeds of its own destruction...Karl Marx and Frederick Engels - Address of the Central Committee to the Communist League, London, March 1850

Better late than never.



to translate into modern experience....the seeds represent the capacity of the elites as they gain control of  credit and money in all its forms to create financial asset bubbles, the printing of money, the inflation of finance and real estate assets, once started almost impossible to stop....

a realistic solution to the problems of our ecoomic system means to take the control and put it back intothe hands of the people through whatever social form of organization...this is a fundamental base to build any and all progressive politics.....the rest is total bullshit!


I don't believe there will be a collapse. Everyone knows Greece can't payback it's debt. It doesn't matter. As long as it is still on the books it "exists".

The US will never pay it's debt to China but it doesn't matter. As long as it is still on the books it contributes to China's net wealth. As long as they keep lending to the US, the US keeps buying Chinese goods. As long as the US exists it's it assumed it will be repaid even if it is in 200 years from now, or 1000. They don't even bother printing enough money to represent it's existence. It only exists in numbers on ledgers.

In 1990 Canada paid $1.76 million for this painting called "Voice of Fire".

What wisdom 24 years do bring. Recently, a senior member of today’s National Gallery personnel mentioned to me, off the record, that Voice of Fire is “worth well over $40 million today.”

In fact, earlier this year a Newman painting sold at auction in New York City for $84.2 million US (the currency of international art sales). That doesn’t mean Voice of Fire is worth as much, but it’s very conservative to estimate its value at $50 million US. Not a bad return on $1.76 million CDN over 24 years.

Oligarchs are fine with individual countries collapsing but they won't allow the world wide system to collapse.

It would be a good thing if it really did collapse because it would reset everything. No one would owe anyone else anything. Like bitcoins we would create a new symbolic currency perhaps basing it on gold again, or something else.

Unlike the Voice of Fire, genuine wealth is not so easily destroyed. The buildings we live in, buses and trains, factories don't just vanish, we don't lose the value of our labour. If the system did collapse North America would reorganize in a matter of days to keep everything running. The governments would create a new continental currency.

These people:

The report by the left-leaning Canadian Centre for Policy Alternatives shows that the country's 86 richest individuals and families -- or 0.002 per cent of the total population -- are getting exponentially richer and now have accumulated as much wealth as the country's poorest 11.4 million.

That's more than in 1999, when the richest 86 had as much money as the poorest 10.1 million and enough to buy up everything in New Brunswick and still have about $40 billion left over, according to the report, to be released Thursday....

In fact, the super-rich list of Canadian residents has little to do with income in the traditional sense, he said. None of the 86 are company CEOs -- often the poster children of the Occupy crowd for their unseemly salaries and bonuses. Instead, the ones on the list are there by virtue of being company founders or related to company founders.

The super-rich have gotten there by creating and trading assets, whether companies, real estate or securities.....

But Statistics Canada also showed wealth gravitating to the top. While median net worth rose almost 80 per cent since 1999 to $243,800 per family unit, the top 40 per cent possessed 88.9 per cent of total net worth, leaving the bottom 60 per cent with a mere 11.1 per cent of the pie.

...will make sure the system always favors them until we claim the power we have through democracy.The super-rich have always been afraid we will rise up but we never do.



"I don't believe there will be a collapse....."

Your faith in the system and the capacity of the oligarchs to remain in control, is the fundamental problem with the reformists in the room....

First the debt is not just government is corprate debt, bankster debt, personal debt, and all backed by increasing ratio of debt to real capital, hedge funds and the derivative so called insurance scams...which no longer work when the system panics......

Second, what is happening is that the increasing financial assets backing up the manipulated markets are at the expense or parasite to the deteriorating fundamentals...a point comes when the host collapses from the virus.

Things really are out of control! Inspite of the fabricated numbers (some only!)

The commodities and energy markets bubbles have in fact burst...and working their losses up through the system of finance as more and more corporations are being forced to stripmine their real assets to pay off their junk financial debts.

The only fact holding the system still together is this total faith in the system, and backed by the increasing QE globally and government support at any cost pronouncements.... the governments, e.g in the emerging market countries based on commodity bubbles (high price) stripmine their assets and debt burdens, such as Greece, Portugal, Brazil, Venezuela ad nauseum...the social programs are forced to go......

This is what is in store for Canada as its commodity revenues dry up, its unemployemnt costs increase, as the corporations stripmining their production capacities lay off their workers...

What is to be the final spark and when is the point!

Will it take so many corporations and banks going bankrupt for lack of revenues and assets to pay their creditors?

Will it be loss of confidence in the finances forcing up interest rates, accelerating the bankruptcies with exploding debt burdeons?

What for sure is holding it together still in spite of the increased suffering generally, is the illusion that the elites have it all under control and our confidence in the capacity of the system to ride through the tough spots!

And of course lack of leadership which appreciates the reality of the collapsing system!


01:59 28.10.2015Get short URL 131911The United Kingdom’s steel industry is on the verge of collapse if the UK government does not step in, the head of the industry lobby group said as quoted by local media.

LONDON (Sputnik) – Falling global steel prices forced a number of British steelmakers to shut down or lay off over 4,000 employees, or 15 percent of the sector’s workforce.

"We are bleeding very quickly and unless it’s stopped very soon we are likely to die," UK Steel director Gareth Stace was quoted as saying by The Financial Times in an address to the parliamentary select committee on Tuesday.

Dozens of steelworkers are planning strikes outside Westminster in London on Wednesday, demanding Prime Minister David Cameron and his government to save the industry.

Read more:



Pondering wrote:
These people.......will make sure the system always favors them until we claim the power we have through democracy.

Agreed.  Which is why nothing will ever change, except for the worse, with the facade of democracy we're given.  It is utterly delusional to suggest otherwise.  The entire political and economic system is hopelessly corrupt.  The daily demands from the various stock markets for more and more profit represents another twist of the screws upon humanity and the entire planet.  They've even polluted space with their junk.  But 'they' is us, collectively, so long as people continue to vote instead of rising up.  Partisan politics is a sad spectacle that more resembles the figure of Nero fiddling away while everything burns.  It's insane.  Seriously, all of you voters and partisan hacks should be on a couch somewhere so that the right experts can try and figure out what it is you find so compelling in all of that nonsense.