Tuesday, April 26, 2016

Manuel E. Yepe — The Return of the Coup in Latin America

Global economic contraction provides the foundation for right-wing coups. More fallout from the global economic crisis that originated in Wall Street's "criminogenic environment" (Bill Black) and is reverberating around the world. Disaster capitalism at work. "Never let a good crisis go to waste."

The Return of the Coup in Latin America
Manuel E. Yepe, lawyer, economist and journalist, and a professor at the Higher Institute of International Relations in Havana


Matt Franko said...

So some appraiser allegedly putting a few extra 10's of thousands on a home for sale in the US in 2006 is somehow leading to "coups" in South America toilet paper challenged hell-holes now 10 years later?

I'd like to see how you connect those dots...

Tom Hickey said...

1. Low US rates posts crisis sent financial capital (hot money) scurrying around the world in search of return.

2. As contagion spread from banking to finance to economics, economies and trade faltered, and hot money ran for safety.

3. The supply glut resulting from economic contraction was not only disinflationary but affected the price of commodities, including oil.

4. Many economies, especially EM's, took a hit as assets were dumped when hot money fled to safety.

4a. Less developed economies dependent for funding imports with foreign reserves were hit when commodity prices collapsed, since that was their major source of funding imports.

5. EM's governed by leftist government found themselves under attack by neoliberal forces as their economies weakened and general discontent arose.