Points to be elaborated: 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) Crisis Description Bail-Out Public debt How it increases Austerity measures Failure of austerity

ity measures ( failure in solving the crisis, GDP break up of 3-4 representative nations) Q.E Inter-imperialist contradiction (currency war) Is this systemic crisis(particular analysis of U.S. mounting crisis) Europe new emerging third world Fight-back of working class and others Wage fall, inflation, increase in unemployment effects

Public debt U.S. figures. Break up of public debt as % of GDP and absolute figures. Changes from pre 2008(facts available for U.S.) Unit 1Trillion Dollar Year Consumption Consumption Private Govt.inv Export Total goods services investment

2008 2009

3.18 3.117

6.082 6.032

1.957 1.515

2.502 2.542

1.647 1.490

13.228 12.88

2010

3.251

6.065

1.769

2.57

1.665

13.248

2007

3.261

6.028

2.161

2.434

1.554

13.228

1) Consumption of goods decreases from 2007 to 2008 by 80 billion Dollar. But it seem to be recovered in 2010. But if we consider the increase in population within this period, there is actually decrease in per capita consumption of goods . Population per yr rises 2007 --- 231.87 million, 2008 -- 233.79 million ,2009 -- 235.801 million, 2010 --- 237.830 million.

2) Consumer credit Decrease in consumer credit in yr 2009 compared to yr 2008 120 billion Dollar. Almost equal to the decrease in consumption of goods. There exists a linear relation between rise in consumer credit and increase in consumption of goods. Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Unit 1 trillion Dollar. Consumer credit 1.716 1.866 1.971 2.076 2.192 2.291 2.384 2.522 2.561 2.449 Consumption(goods +services) 7.608 7.863 8.021 8.247 8.532 8.819 9.073 9.289 9.153 9.315

2) Total debt as percentage of GDP rose from 151 % in 1959 to 373 % in 2007.Household and finanancial firms debt are two major components which have grown at almost equal rate.