Online Video - Understanding the Financial Crisis

Video documentaries of Peninsula Peace and Justice Center's
varied programs, including speakers, panels, and protests.

Epic Recession:
Understanding the Global Financial Crisis

Jack Rasmus
Political Economist

Recorded October 14, 2008.  55 minutes

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Speaker:
JACK RASMUS, Ph.D.
Political Economist
Author, The War at Home: The Corporate Offensive From Ronald Reagan to George W. Bush

An in-depth examination of the crisis facing Wall Street and what it all means for Main Street. "Of course, 'nationalization' to capitalist financial interests is a stop-gap measure designed to temporarily refloat the markets and institutions at taxpayer expense. Once they are financially stabilized, the idea is to sell them back to private interests -- when they can make a profit once more. It’s the basic capitalist strategy of 'socialize the costs and privatize the gains' -- the essential capitalist definition of 'nationalization.'" ~ Jack Rasmus

Jack Rasmus, Ph.D. is the author of several books on Political Economy in the U.S. His works include the 2006 book The War At Home: The Corporate Offensive from Ronald Reagan to George W. Bush, a 536-page analysis of corporate power and economic restructuring in the twentieth century; and a forthcoming book, The Trillion Dollar Income Shift: Essays on Income Inequality in America, about the origins and causes of the growing inequalities. Jack's newest publication is EPIC Recession and Global Financial Crisis, about increasing financial instability in the U.S. and the protracted 'epic' recession now emerging in the U.S. and globally.

Jack is also a freelance journalist writing widely on U.S. economic and domestic policy topics, and has published numerous articles in Z Magazine, Critique, In These Times, Amandla, Against the Current, The Dispatcher, and other periodicals.

Recorded October 14, 2008 in Palo Alto, CA, by Peninsula Peace and Justice Center