"We seriously need to hit the Cntrl-Alt-Delete button on government. This is total insanity and we are losing absolutely everything that made society function. Once they eliminate CASH, they will have total control over who can buy or sell anything."
Greece is only the beginning. Greeks driven out of their country by the collapsed economy, demise of the social welfare system, and extraordinary rate of unemployment will take their poverty to other EU countries. Members of the EU are not bound by national boundaries and can freely emigrate. Closing down the support system in Greece will drive Greeks into the support systems of other EU countries, which will be closed down in turn by the One Percent’s privatizations. The 21st century Enclosures have begun.
Greece is not being asked to swallow many bitter pills in exchange for a realistic plan of economic revival, they are asked to suffer so that others in the European Union can go on dreaming their dream undisturbed.
In short, the era the phony recovery narrative has come unhinged. We have no entered a cycle of actual price discovery in which financial assets fall to more accurate values. This will eventually result in a stock market crash, very likely within the next 12 months.
Desdemona Despair is the clearinghouse for all of the very worst news about the future of life on Earth, such as global warming, climate change, deforestation, overfishing, acidification, oil spills, resource depletion, drought, pollution, overpopulation, dead zones, mass extinction, and doom.
Greece’s lesson for Russia, and for China and Iran, is to avoid all financial relationships with the West. The West simply cannot be trusted. The “globalism” that is hyped in the West is inconsistent with Washington’s unilateralism. No country with assets inside the Western system can afford to have policy differences with Washington. It is testimony to the insouciance of our time that the stark inconsistency of globalism with American unilateralism has passed unnoticed.
There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment. As you are about to see, there are 24 nations that are currently facing a full-blown debt crisis, and [...]
[image] The Nation has published an open letter to Angela Merkel condemning forced Greek austerity. It was penned by five leading economists: Heiner Flassbeck, former State Secretary in the German Federal Ministry of Finance; Thomas Piketty, Professor of Economics at the Paris School of Economics; Jeffrey D. Sachs, Professor of Sustainable Development, Professor of Health Policy and Management, and Director of the Earth Institute at Columbia University; Dani Rodrik, Ford Foundation Professor of...
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