The breakdown of the old political parties, policies and government institutions continually interacts with the impact of the economic slump to reinforce the sense that nothing can be relied on any more. One event after another has helped consolidate the 1990s mood of gloom and insecurity among capitalists worldwide. Meanwhile the Mexican crisis at the end of 1994 spooked many who were relying on the old Third World to provide a safety valve of escape from their domestic troubles. Real problems, and the inflated fear of panics, have all reinforced the climate of cynicism, scepticism and pessimism within the capitalist elite. The feeling of uncertainty and of being out of control has both political and economic roots.
Capitalism is out of control, but there is nothing new in that.
There never was a golden age of complete stability when all was ordered and in check. In fact the market system always exhibits tendencies towards anarchy and chaos. These trends are amplified in times of economic crisis when many economic phenomena become more volatile. Currency exchange rates, interest rate levels and commodity prices fluctuate more. The oscillations of the business cycle are more frequent and the pitch is more pronounced.