How many more bubbles can the US economy throw up before it sinks?

What then are we to do? Is there a lifeboat on the sinking ship into which we can clamber?

The only real prospect is that of increased business fixed investment and that can now be achieved only under the stimulus of public fixed-capital investment. There is no other means of rescue for the American economy and, through and alongside it, of the world economy. In the short- and probably in the medium-term, that rescue is now likely to be at best partial, since it has already been too long delayed; but it is essential that we embark on such a rescue without any further hesitation.

The BIS has suggested that "the leading industrial countries should get their act together and pursue compatible economic policies." They should do more than this and look to models and processes that have succeeded in the past, in particular, those of the kind of the Marshall Plan for reconstruction after World War Two.

If governments will not do it, we should try to stimulate them to act through our own direct democratic action. That is the purpose of VOW and the need for action within it grows ever more urgent.