Economics and politics - comment and analysis

Reality asserts itself (Teil 3)

Im dritten Teil der Gesprächsreihe mit Paul Jay (The Real News Network) geht es um die aktuelle Entwicklung in der Weltwirtschaft: More at The Real NewsText: PAUL JAY, SENIOR EDITOR, TRNN: Welcome back to The Real News Network. I’m Paul Jay in Baltimore. If you read the financial press and the business sections of major newspapers, there’s a lo…


Im dritten Teil der Gesprächsreihe mit Paul Jay (The Real News Network) geht es um die aktuelle Entwicklung in der Weltwirtschaft:

More at The Real News

Text:

PAUL JAY, SENIOR EDITOR, TRNN: Welcome back to The Real News Network. I’m Paul Jay in Baltimore.
If you read the financial press and the business sections of major newspapers, there’s a lot of speculation these days about whether we are poised for another global recession.
Now joining us to talk about just how dangerous a moment are we in is once again Heiner Flassbeck, who joins us from France. Heiner served as the director of the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development, known as UNCTAD. He was once a vice minister at the Federal Ministry of Finance in Germany. And he’s now a professor of economics at Hamburg University.
Thanks for joining us again, Heiner.
HEINER FLASSBECK, PROF. ECONOMICS, HAMBURG UNIVERSITY: Hello.
JAY: So I guess the question’s just that simple. How dangerous a moment is this?
FLASSBECK: Well, the moment is very dangerous because we’re still in a very fragile situation all over the world. Japan is struggling to get out of the deflation. Europe is getting into deflation. That’s …
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