Michael Hudson on Greece
Greece and what is happening to it is not getting enough attention. What is happening there, in my opinion is an example of the human race at it’s worse. I do not see the implementation of austerity as an experiment. I see it as just one more step by those in the world controlling banking to mold the world into its self image.
This is a link to an 11 minute interview of Michael Hudson: Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City…
In this interview, Prof. Hudson suggests that Greece is the test to see how far the world’s money people can push in preparations for further advancement within the EU. Interestingly he notes, that in the US, because we privatized our utilities years ago, we are not seeing the same drive of austerity as we are seeing in Europe, including England. Though we should not be complaisant.
Daniel et al,
Exactly what part of Greece can’t pay its bills do you not understand? They can’t devalue since they don’t control their currency. Germany and the ECB are very reluctant to throw good money after bad by giving more money to Greece if the Greeks are not even capable of a fig leaf attempt to get there finances under control. The latest deal is unraveling for just these reasons. The banks are not running this show. Its the politicians.
The best solution would be for Greece to leave the Euro in an orderly a way as possible and go back to the dracma. BUt the Greek government sems to be hell-bent on staying with the Euro and selling off their assets for a 1-time raise of cash. Then what? They still will not have delt with the cultural and spending issues that got them here in the first place. I don’t see the German populance wanting to cough up the cash to help the Greeks if they can’t get ther house in order.
herre si some links (which have links to every major newspaper around the globe reporting on it plus some googd picture:
http://globaleconomicanalysis.blogspot.com/2012/02/cracks-in-agreement-in-greece-finland.html
http://globaleconomicanalysis.blogspot.com/2012/02/total-chaos-riots-rage-athens-resembles.html
http://globaleconomicanalysis.blogspot.com/2012/02/athens-burning-tens-of-banks-in-flames.html
Islam will change
Daniel Becker
I am vaguely aware of arguments by people who might be in a better position than I am to know what they are talking about that the situation is not as simple as Buffpilot imagines. I don’t have a way to listen to the interview, but would like to see a careful explanation of just how “the world’s money people” are pushing…
Certainly Buff does not seem to understand the concept of how someone with lots of money can afford to lose money for a short time in order to drive his competitors out of business. I suppose that would apply when your “competitors” are governments or “workers,” as well as small businesses.
Buff
i looked at the site. Can’t say I saw anything that would meet my idea of “careful explanation.”
Coberly,
You can start here: http://real-economics.blogspot.com/2012/02/simple-numbers-of-neo-liberal.html
http://real-economics.blogspot.com/2012/02/greek-parliament-votes-austerity-athens.html
Gee Buff,
What part of that interview did you not get?
Daniel Becker
I checked your links. Don’t seem to be any more careful than Buff’s.
don’t mean to be pulling a kharris here.
it’s just hard to find a step by step indictment of “the banks” that supports all the arm waving by those who “know” in a way that can be understood by those of us who only suspect.
Greece’s situation is purely political, and has nothing to do with bankers. The Euro is a flawed political creation, and Greece’s budget problems are political as well.
This letter sums up the solution, but it is up to the politicians in Greece.
From John Taylor, Chief Investment Officer Of FX Concepts
Open Letter To Greece
Get out Greece! Get out right now! You should have moved two years ago; you missed that chance, but now it is much better than later. Summer vacations are being planned while we speak, you must move fast to get the biggest advantage out of bolting from the euro. Don’t let the next global recession bare its teeth. Investors still have money and they are interested in buying your assets when the prices are knocked down – each day you wait their value is deteriorating and you are looking more desperate.
Most important: don’t listen to the naysayers in Brussels who are warning you of disaster outside of the ‘protective euro blanket.’ It’s much better outside, even the Turks know this. Do pay attention to Angela Merkel and Wolfgang Schäuble; they are telling you the truth – there is no hope within the euro. Even though the latest German plan to take away your financial freedom has been blocked, the PSI deal is almost as toxic. We read in the press that about 94% of your government debt is written under Greek law, which means you have control over it, but after the deal with the private creditors is signed all of this debt will be written under British law. Your parliament and your judges will be insignificant.
…….
http://www.google.com/search?q=From+John+Taylor,+Chief+Investment+Officer+Of+FX+Concepts++Open+Letter+To+Greece&ie=UTF-8&oe=UTF-8&hl=en&client=safari
McWop
you could be right. i don’t know enough.
but i am offended by assertions absolute certainty: “has nothing to do with bankers.”
i am, vaguely as i said, aware of a widely accepted, in some circles, view that “the bankers,” IMF, World Bank, etc., have been engaged in a steady plan to make the world over in their image and essentially under their thumb. i tend to think this is the “correct” explanation of much of what is going on… but of course, I don’t know.