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Derivatives: The Monster In Our Midst
A short history of the background to the crisis. The gradual financialization of the economy from the early 1980s. The point-of-no-return has long since been passed. Economic and financial Armageddon are assured. The danger of commercial money-market funds. The horrific risk to the four top banks in the U.S. along with their $250 trillion gross notional derivative exposure. These terrible contracts will be the downfall of the system. The decline in manufacturing: contributing factors.
Article originally appeared on Progressive Radio Network (http://beta.progressiveradionetwork.com/).
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