NP - New Speedway

[Kai Frederik Lorentzen]

On 02.10.2011 15:05, alice wellintown wrote:

> The darkness got to give; it descended on this city on this nation on
> 9-11. It won't lift less we stop pointing fingers ...

Since you point out the connection between the current economic crisis 
and 9/11:

Isn't the economic crisis much more a result of the deregulation of 
financial markets since the late 1970s? The hypertrophic growth of the 
whole financial sector on expense of the classical industry providing 
jobs for many seems to be the main reason why things got out of control. 
The real estate bubble - not only in the US but also in the UK and Spain 
- has/had nothing to do with 9/11. Neither had the internet economy 
bubble which did already burst in the year 2000. So yes, there was the 
enlargement of the security- and war-industry after 9/11 (and this did 
cost the tax payers a lot of money), but - apart from the question 
whether that was all necessary (at least in the case of Iraq most people 
would say "no" by now) - it does not seem to be the main point here. But 
I'm not an economist and always open for corrections.

One aspect of your criticism I share: There's no way back. If Wall 
Street, the City of London and the Frankfurt banking district got 
destroyed today, the poor would be the first to starve. And any solution 
will, taking these days' degree of globalization into account, only work 
on a global scale. Like financial transaction tax. Wouldn't that perhaps 
be a way to tame the financial markets?

Being young in Greece or Spain now, I'd certainly be on the streets. 
People are fighting for a life perspective. But since I'm middle aged, 
having kids, I'm worried about social and monetary stability in the 
first place. And though I don't have a real idea myself, I've got the 
decided feeling that we're going into the wrong direction here on the 
continent ... I don't want no 'United States of Europe'.