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.
Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]
www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the
copyright owner.
