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Neoliberal Depression of 2008 and beyond

By Nick Egnatz - Posted on 31 March 2011

The current global economic cataclysm is not an anomaly. It is the 11th major financial disaster visited on the poor and working class by U.S. capitalism: Panic of 1785–1788, Panic of 1792, Panic of 1819–1822, Panic of 1837–1843, Panic of 1857–1861, Great Depression or Panic of 1873–1878, Panic of 1893–1897, Panic of 1907, Great Depression 1929–1941, Recession of the mid 1970s and now the Neoliberal Depression of 2008-? On average every 21 years U.S. capitalism provides the people with the gift of personal and financial disaster for many and severe hardship for many more.

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