Libro: CRISIS DEL SIGLO, LA. EL FIN DE LA ERA DEL CAPITALISMO FINANCIERO - Ignacio Ramonet. Book: CRISIS OF THE CENTURY, LA. THE END OF THE ERA OF FINANCIAL CAPITALISM - Ignacio Ramonet
Ignacio Ramonet
es un destacado intelectual, analista político y periodista,
especialista de los medios de comunicación y autor de numerosos libros.
Identificó y criticó tempranamente el fenómeno de la globalización
neoliberal. Lanzó la idea de la creación de la organización
altermundialista ATTAC y es uno de los fundadores del Foro Social Mundial y creador de la consigna "Otro mundo es posible". Es director de Le Monde diplomatique en español.
El mundo va camino de sufrir su peor pesadilla desde 1929. Se avecinan tiempos sombríos. El huracán de la especulación financiera se ha llevado por delante una cuarta parte de la riqueza mundial virtual y todo indica que vamos hacia una Gran Depresión. El dogma del mercado infalible se ha autodestruido: cierre de fábricas, desempleo, aumento de la pobreza, protestas sociales y peligros de brotes de xenofobia. Esta crisis representa un momento histórico. Se debilita la hegemonía económica de Estados Unidos: el centro de gravedad del mundo se desplaza de Occidente hacia Oriente. Por esta razón, es necesario refundar un nuevo sistema económico más justo y más democrático. Crear estructuras globales que antepongan primero las necesidades de los ciudadanos, que respeten y promuevan los derechos humanos, la justicia social y el equilibrio ambiental. Si no, una vez más, los pueblos pagarán la cuenta.
El fin del capitalismo
financiero
LA CRISIS DEL SIGLO
por Ignacio RamonetDirector
de Le Monde diplomatique, España.
El desplome de Wall Street
es comparable, en la esfera financiera, a lo que representó, en el ámbito geopolítico, la caída del muro deBerlín.
Un cambio de mundo y un
giro copernicano. Lo afirma PaulSamuelson, premio Nobel de Economía: "Esta
debacle es para elcapitalismo lo que la caída de la Unión Soviética (URSS) fue
para elcomunismo". Se termina el período abierto en 1981 con la fórmula
deRonald Reagan: "El Estado no es la solución, es el problema".
Durantetreinta años, los fundamentalistas del mercado repitieron que
éstesiempre tenía razón, que la globalización era sinónimo de felicidad, y
queel capitalismo financiero edificaba el paraíso terrenal para todos.
Seequivocaron.La "edad de oro" de Wall Street se acabó. Y también una
etapa deexuberancia y despilfarro representada por una aristocracia de
banquerosde inversión, "amos del universo" denunciados por Tom Wolfe en
LaHoguera de las vanidades. Poseídos por una lógica de rentabilidad a
cortoplazo. Por la búsqueda de beneficios exorbitantes. Dispuestos a todo
parasacar ganancias: ventas de corto plazo abusivas, manipulaciones,invención
de instrumentos opacos, titulización de activos, contratos decobertura de
riesgos, hedge funds… La fiebre del provecho fácil secontagió a todo el
planeta. Los mercados se sobrecalentaron,alimentados por un exceso de
financiación que facilitó el alza de los precios.
La globalización condujo a
la economía mundial a tomar la formade una economía de papel, virtual,
inmaterial.
La esfera financierallegó
a representar más de 250 billones de euros, o sea seis veces elmonto de la
riqueza real mundial. Y de golpe, esa gigantesca "burbuja"reventó. El
desastre es de dimensiones apocalípticas.
Más de 200 mil millonesde
euros se han esfumado. La banca de inversión ha sido borrada del mapa.
Las cinco mayores
entidades se desmoronaron: LehmanBrothers en bancarrota; Bear Stearns comprado,
con la ayuda de la Reserva Federal (Fed), por Morgan Chase; Merril Lynch
adquirido porBank of America; y los dos últimos, Goldman Sachs y Morgan Stanley
(enparte comprado por el japonés Mitsubishi UFJ), reconvertidos en
simples bancos comerciales.
Toda la cadena de funcionamiento
del aparato financiero ha colapsado.
No sólo la banca de
inversión, sino los bancos centrales, lossistemas de regulación, los bancos
comerciales, las cajas de ahorros, lascompañías de seguros, las agencias de
calificación de riesgos(Standard&Poors, Moody's, Fitch) y hasta las
auditorías contables(Deloitte, Ernst&Young, PwC).
El naufragio no puede
sorprender a nadie. El escándalo de las "hipotecasbasura" era sabido
por todos. Igual que el exceso de liquidez orientado ala especulación, y la
explosión delirante de los precios de la vivienda. Todo esto ha sido denunciado
–en Le Monde diplomatique– desde hacetiempo. Sin que nadie se inmutase. Porque
el crimen beneficiaba amuchos. Y se siguió afirmando que la empresa privada y
el mercado loarreglaban todo.La administración del presidente George W. Bush ha
tenido que renegarde ese principio y recurrir, masivamente, a la intervención
del Estado. Lasprincipales entidades de crédito inmobiliario, Fannie Mae y
Freddy Mac,han sido nacionalizadas. También lo ha sido el American
InternationalGroup (AIG), la mayor compañía de seguros del mundo. Y el
secretario del Tesoro estadounidense, Henry Paulson (ex-presidente de la
bancaGoldman Sachs…) ha propuesto un plan de rescate –reformado yaprobado por
el Congreso de Estados Unidos– de las acciones "tóxicas"procedentes
de las "hipotecas basura" (subprime) por un valor de unos 700 mil
millones de dólares, que también adelantará el Estado, o sea
loscontribuyentes. Prueba del fracaso del sistema, estas intervenciones del
Estado –lasmayores, en volumen, de la historia económica– demuestran que
losmercados no son capaces de regularse por sí mismos. Se hanautodestruido por
su propia voracidad.
Además, se confirma una leydel
cinismo neoliberal: se privatizan los beneficios pero se socializan las pérdidas.
Se hace pagar a los pobres
las excentricidadesirracionales de los banqueros, y se les amenaza, en caso de
que senieguen a pagar, con empobrecerlos aun más. Las autoridades
estadounidenses acuden al rescate de los "banksters"("banquero-gangster")
a expensas de los ciudadanos. Hace unos meses,el presidente Bush se negó a
firmar una ley que ofrecía una coberturamédica a nueve millones de niños pobres
por un costo de 4 mil millonesde euros. Lo consideró un gasto inútil. Ahora,
para salvar a los rufianes deWall Street nada le parece suficiente. Socialismo
para los ricos, ycapitalismo salvaje para los pobres.
Este desastre ocurre en un
momento de vacío teórico de las izquierdas.Las cuales no tienen "plan
B" para sacar provecho del descalabro. Enparticular las de Europa,
agarrotadas por el choque de la crisis. Cuandosería tiempo de refundación y de
audacia.
¿Cuanto durará la crisis?
"Veinte años si tenemos suerte, o menos de diez si las
autoridades actúan con mano firme", vaticina el editorialista neoliberal
Martin Wolf. Si existiese una lógica política, este contexto debería favorecer
la elección del demócrata Barack Obama (si no es asesinado) a la presidencia de
Estados Unidos el 4 de noviembre próximo. Es probable que, como Franklin D. Roosevelt
en 1930, el joven Presidente lance un nuevo "New Deal" basado en un
neokeynesianismo que confirmará el retorno del Estado en la esfera económica. Y
aportará por fin mayor justicia social a los ciudadanos. Se irá hacia un
nuevo Bretton Woods.
La etapa más salvaje e
irracional de la globalización neoliberal habrá terminado
Inglés
Ignacio Ramonet is a leading intellectual, political analyst and journalist, specialist media and author of numerous books. He identified early and criticized the phenomenon of neoliberal globalization. He
launched the idea of the creation of the anti-globalization
organization ATTAC and is one of the founders of the World Social Forum
and creator of the slogan "Another world is possible". He is director of Le Monde Diplomatique in Spanish.
Editorial Icaria
The world is poised to suffer its worst nightmare since 1929. Dark times ahead. The hurricane of financial speculation has swept away a quarter of the virtual world's wealth and all indications that we are moving a Great Depression. The dogma of the infallible market has self-destructed: factory closures, unemployment, increased poverty, social unrest and danger of outbreaks of xenophobia. This crisis represents a historic moment. The economic hegemony of the United States is weakened: the world's center of gravity shifts from West to East. For this reason, it is necessary to reestablish a new, fairer and more democratic economic system. Create global structures that put first the needs of citizens, respect and promote human rights, social justice and environmental balance. If not, once again, the people will pay the bill.
The end of financial capitalism
THE CRISIS OF THE CENTURY
by Ignacio RamonetDirector of Le Monde Diplomatique, Spain.
The collapse of Wall Street is comparable, in the financial sphere, which represented, in the geopolitical sphere, the fall of the Wall of Berlin.
Changing world and a Copernican turn. PaulSamuelson declares, Nobel laureate in economics: "This debacle is to elcapitalismo what the fall of the Soviet Union (USSR) was to elcomunismo". The open period ends in 1981 with the formula From Ronald Reagan: "The state is not the solution, is the problem." Durantetreinta years, market fundamentalists repeated that éstesiempre was right, that globalization was synonymous with happiness, and queel financial capitalism was building an earthly paradise for everyone. Seequivocaron.La "golden age" of Wall Street is over. And a deexuberancia stage and waste represented by an aristocracy of investment banquerosde, "masters of the universe" denounced by Tom Wolfe in LaHoguera of the Vanities. Possessed by a logic of profitability cortoplazo. By seeking exorbitant profits. Ready for anything parasacar profit: abusive short-term sales, manipulations, the invention of opaque instruments, securitization of assets, contracts decobertura risks, hedge funds ... easy fever secontagió out the entire planet. The markets overheated, fed by an excess of funding that facilitated the rise of losprecios.
Globalization led the world economy to take formade paper economy, virtual, immaterial.
The sphere financierallegó to represent more than 250 billion euros, or six times elmonto real wealth of the world. And suddenly that giant "bubble" is reventó.El disaster of apocalyptic dimensions.
More than 200 thousand euros millonesde have vanished. Investment banking has been borradadel map
. The five largest banks collapsed: LehmanBrothers bankrupt; Bear Stearns bought with the help of laReserva Federal (Fed) by Morgan Chase; Merrill Lynch acquired porBank of America; and the last two, Goldman Sachs and Morgan Stanley (I enparte purchased by the Japanese Mitsubishi UFJ), converted into commercial simplesbancos.
The entire chain of operation of the financial system hacolapsado.
Not only investment banking, but central banks lossistemas regulation, commercial banks, savings banks, lascompañías insurance agencies risk rating (Standard & Poor's, Moody's, Fitch) and to the accounting audit (Deloitte, Ernst & Young, PwC) .The wreck can not surprise anyone. The scandal of the "hipotecasbasura" was known by all. As excess liquidity wing oriented speculation, and the delirious explosion of housing prices. All this has been denounced -in Le Monde diplomatique- from hacetiempo. Without being inmutase. Because the crime benefited amuchos. And he continued to assert that private enterprise and the market loarreglaban todo.La administration of President George W. Bush has had to renegarde that principle and resort massively to government intervention. Theleading entities of real estate credit, Fannie Mae and Freddy Mac, they have been nationalized. So has the American InternationalGroup (AIG), the largest insurance company in the world. And US Treasury Secretary Henry Paulson (former president of the bancaGoldman Sachs ...) has proposed a rescue plan -amending yaprobado by the Congress of the United States of "toxic" shares from the "subprime" (subprime ) worth of unos700 billion, which also advance the State, or loscontribuyentes.Prueba of system failure, these interventions -lasmayores State, by volume, of the economically history shows that losmercados are not able to regulate for themselves. He hanautodestruido by their own greed. In addition, one leydel neoliberal cynicism is confirmed: profits are privatized but losses sesocializan.
It makes the poor pay the excentricidadesirracionales bankers, and threatened, if senieguen to pay with US authorities más.Las impoverish even come to the rescue of the "banksters" ("banker-gangster") at the expense citizens. A few months ago, President Bush refused to sign a bill that offered a coberturamédica nine million poor children at a cost of 4000 euros millonesde. He considered a waste. Now, to save DeWall Street ruffians nothing seems enough. Socialism for the rich, wild ycapitalismo for the poor.
This disaster comes at a time of izquierdas.Las theoretical vacuum of whom have no "plan B" to capitalize on the setback. Inparticular Europe, stiff from the shock of the crisis. Cuandosería time of refounding and daring.
How long will the crisis? "Twenty years if we're lucky
Or menosde ten if the authorities act with a firm hand, "predicts editorialistaneoliberal Martin Wolf. If there is a political logic, this contextodebería favor the election of Democrat Barack Obama (otherwise esasesinado) to the US presidency on 4 noviembrepróximo. It is likely that, as Franklin D. Roosevelt in 1930, the jovenPresidente launch a new "New Deal" based on a neokeynesianismoque will confirm the return of the state in the economic sphere. And aportarápor end greater social justice to the citizens. It will go to a nuevoBretton Woods.
The most savage and irrational stage of neoliberal laglobalización be over.
Editorial Icaria
The world is poised to suffer its worst nightmare since 1929. Dark times ahead. The hurricane of financial speculation has swept away a quarter of the virtual world's wealth and all indications that we are moving a Great Depression. The dogma of the infallible market has self-destructed: factory closures, unemployment, increased poverty, social unrest and danger of outbreaks of xenophobia. This crisis represents a historic moment. The economic hegemony of the United States is weakened: the world's center of gravity shifts from West to East. For this reason, it is necessary to reestablish a new, fairer and more democratic economic system. Create global structures that put first the needs of citizens, respect and promote human rights, social justice and environmental balance. If not, once again, the people will pay the bill.
The end of financial capitalism
THE CRISIS OF THE CENTURY
by Ignacio RamonetDirector of Le Monde Diplomatique, Spain.
The collapse of Wall Street is comparable, in the financial sphere, which represented, in the geopolitical sphere, the fall of the Wall of Berlin.
Changing world and a Copernican turn. PaulSamuelson declares, Nobel laureate in economics: "This debacle is to elcapitalismo what the fall of the Soviet Union (USSR) was to elcomunismo". The open period ends in 1981 with the formula From Ronald Reagan: "The state is not the solution, is the problem." Durantetreinta years, market fundamentalists repeated that éstesiempre was right, that globalization was synonymous with happiness, and queel financial capitalism was building an earthly paradise for everyone. Seequivocaron.La "golden age" of Wall Street is over. And a deexuberancia stage and waste represented by an aristocracy of investment banquerosde, "masters of the universe" denounced by Tom Wolfe in LaHoguera of the Vanities. Possessed by a logic of profitability cortoplazo. By seeking exorbitant profits. Ready for anything parasacar profit: abusive short-term sales, manipulations, the invention of opaque instruments, securitization of assets, contracts decobertura risks, hedge funds ... easy fever secontagió out the entire planet. The markets overheated, fed by an excess of funding that facilitated the rise of losprecios.
Globalization led the world economy to take formade paper economy, virtual, immaterial.
The sphere financierallegó to represent more than 250 billion euros, or six times elmonto real wealth of the world. And suddenly that giant "bubble" is reventó.El disaster of apocalyptic dimensions.
More than 200 thousand euros millonesde have vanished. Investment banking has been borradadel map
. The five largest banks collapsed: LehmanBrothers bankrupt; Bear Stearns bought with the help of laReserva Federal (Fed) by Morgan Chase; Merrill Lynch acquired porBank of America; and the last two, Goldman Sachs and Morgan Stanley (I enparte purchased by the Japanese Mitsubishi UFJ), converted into commercial simplesbancos.
The entire chain of operation of the financial system hacolapsado.
Not only investment banking, but central banks lossistemas regulation, commercial banks, savings banks, lascompañías insurance agencies risk rating (Standard & Poor's, Moody's, Fitch) and to the accounting audit (Deloitte, Ernst & Young, PwC) .The wreck can not surprise anyone. The scandal of the "hipotecasbasura" was known by all. As excess liquidity wing oriented speculation, and the delirious explosion of housing prices. All this has been denounced -in Le Monde diplomatique- from hacetiempo. Without being inmutase. Because the crime benefited amuchos. And he continued to assert that private enterprise and the market loarreglaban todo.La administration of President George W. Bush has had to renegarde that principle and resort massively to government intervention. Theleading entities of real estate credit, Fannie Mae and Freddy Mac, they have been nationalized. So has the American InternationalGroup (AIG), the largest insurance company in the world. And US Treasury Secretary Henry Paulson (former president of the bancaGoldman Sachs ...) has proposed a rescue plan -amending yaprobado by the Congress of the United States of "toxic" shares from the "subprime" (subprime ) worth of unos700 billion, which also advance the State, or loscontribuyentes.Prueba of system failure, these interventions -lasmayores State, by volume, of the economically history shows that losmercados are not able to regulate for themselves. He hanautodestruido by their own greed. In addition, one leydel neoliberal cynicism is confirmed: profits are privatized but losses sesocializan.
It makes the poor pay the excentricidadesirracionales bankers, and threatened, if senieguen to pay with US authorities más.Las impoverish even come to the rescue of the "banksters" ("banker-gangster") at the expense citizens. A few months ago, President Bush refused to sign a bill that offered a coberturamédica nine million poor children at a cost of 4000 euros millonesde. He considered a waste. Now, to save DeWall Street ruffians nothing seems enough. Socialism for the rich, wild ycapitalismo for the poor.
This disaster comes at a time of izquierdas.Las theoretical vacuum of whom have no "plan B" to capitalize on the setback. Inparticular Europe, stiff from the shock of the crisis. Cuandosería time of refounding and daring.
How long will the crisis? "Twenty years if we're lucky
Or menosde ten if the authorities act with a firm hand, "predicts editorialistaneoliberal Martin Wolf. If there is a political logic, this contextodebería favor the election of Democrat Barack Obama (otherwise esasesinado) to the US presidency on 4 noviembrepróximo. It is likely that, as Franklin D. Roosevelt in 1930, the jovenPresidente launch a new "New Deal" based on a neokeynesianismoque will confirm the return of the state in the economic sphere. And aportarápor end greater social justice to the citizens. It will go to a nuevoBretton Woods.
The most savage and irrational stage of neoliberal laglobalización be over.
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