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It's more than a recession, worse than stagnation or even depression.
Noel Ortega, with the Institute for Policy Studies' New Economy Working Group, believes that Wall Street gambling and speculation have played themselves out too far this time, leaving the economy in a state of decay.
In this 35-minute interview - Part One in our ShiftShaper series on The New Economy - Noel Ortega lays out a plan in which, by taking action on several economic projects, can break Wall Street's stranglehold on the future of our communities.
The New Economy Working Group's strategy is outlined in its manifesto "A Main Street Cure for Wall Street's Failure". It emphasizes community wealth in the form of worker-owned cooperatives and locally controlled banking; using real indicators to measure the community's wealth; and building living economies that work with the environment and discourage profiting from war.