Thousands of businesses closed , millions unemployed .
This only happens in the West.
In the East , from the early ’80s , large multinational companies have invested and deployed in Asia, have created thousands of companies with tens of millions of employees underpaid .
R.Shiller, a Nobel Prize , said the cause of the economic crisis was the collapse of housing prices in the U.S.. A speculative bubble that has swept the major U.S. banks.
Reflect , a bank as a business company fails only when it can not fall of its receivables . Lack of liquidity. If a bank is too big , not even a government can save her and carries with it a whole system .
But even if the value of the house purchased decreases by one-third , why should I stop paying the mortgage?
Why risk losing the entire value due to the mortgage ?
It makes no sense , unless, you can no longer pay their mortgage because they are a worker or employee who has lost his job , or a lawyer or an engineer who can no longer find customers.
So this is the real cause of the crisis!
The dislocation of entire productive sectors in the East, where you can take advantage of low labor cost .
Creating employment in theEast and unemployment in the West has reallocated an economic welfare. But the imbalances are still too many .
One solution may be to equalize the price of a working hour in a universal standard .
A law , as well as “antitrust law”, should be applied to all member countries of the WTO !.