A new economic crisis would trigger a political backlash in Britain, Europe and the United States which could drag us all down into poverty
By Allister Heath
10:24PM GMT 10 Feb 2016
They bounce back after terrorist attacks, pick themselves up after earthquakes and cope with pandemics such as Zika. They can even handle years of economic uncertainty, stagnant wages and sky-high unemployment. But no developed nation today could possibly tolerate another wholesale banking crisis and proper, blood and guts recession.
We are too fragile, fiscally as well as psychologically. Our economies, cultures and polities are still paying a heavy price for the Great Recession; another collapse, especially were it to be accompanied by a fresh banking bailout by the taxpayer, would trigger a cataclysmic, uncontrollable backlash.
The public, whose faith in elites and the private sector was rattled after 2007-09, would simply not wear it. Its anger would be so explosive, so-all encompassing that it would threaten the very survival of free trade, of globalisation and of the market-based economy. There would be calls for wage and price controls, punitive, ultra-progressive taxes, a war on the City and arbitrary jail sentences.
next time bend over and jam your head up your ass, do u see how manny people are jumping off the g w bridge, men and women, last year it was a old time high. 2 last week 1 last night. the waters are two cold for me. do it in the summer.because if u make it , the cold will freezzz my pee,pee.