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Second, that you could write today’s essay and make your point without using Greece as an example. This crazy system will continue for now, but as JHK says, it’s not producing capital and is not sustainable. I wonder who will stand against the global regime. The best thing that could happen would be if austerity were rejected along with the Euro, total abject failure. Now, of course our pundits are chortling, they say our economy has been saved (perhaps for the elections). Greece has to make changes, but this extreme program they’ve agreed to is not the answer. The thing that none of our masters of the universe want us to know is that there are other answers to a problem.
Yes, there are other options and Iceland listened to guest economist Michael Hudson last year. They now have a bustling economy and are raising their interest rates to keep up with their growth. Sadly, we have learned that Greece fell for the scare tactics of the IMF, that they would bring down the world economy if they didn’t take their medicine and go for abject austerity.Īs Max Keiser described a few months ago, Steve Forbes who wouldn’t be worth a dime if it weren’t for daddy, was in Athens to oversee the selling off of Greek Islands for way less than they’re worth–but that, is the process you know.Ĭontrast this pathetic caving in to the banksters by the Greek people to Iceland, where they said NO to the IMF and threw their banksters into jail. I posted this an hour ago, but will repost: Thanks as always for your acute observations. Of course, that happens when the game stops being simple keep-away but seems more and more a matter of larceny - “they stole our mitts!” The big kids have certain advantages, obviously, but sooner or later they run the risk of being torn to pieces by the vengeful mob. Our game is more like the old American schoolyard game called salugi ( suh-looj-gee), or “keep-away.” The “big kids” (the one percenters) like Jamie Dimon, Jon Corzine, Lloyd Blankfein, et al, have stolen the baseball mitts of the dweeby little kids (the 99 percenters) so that most of the people in this country feel that they cannot participate in the national pastime anymore. It’s just that we are playing a different game than hot potato and musical chairs.
Our situation with money spent and interest due – and the resulting impairment of capital operations – only seem less dire in comparison. The current extravaganza across the Atlantic Ocean has taken the spotlight off doings here in our own colossal floundering confederation of quasi-sovereign American states.