Πηγή: The Coming Depression
Politics might be hampering efforts to solve the world’s debt crisis, but the bankers and economists got us into this mess, so why on earth would we put them in charge of fixing it. These are the guys who gave themselves bonuses with taxpayer bailouts and who don’t give a rat’s a** about people.
Unregulated capitalism and deregulation has made corporations incredibly powerful and it’s screwing the rest of us. It’s been 20ish years since the Mulroney Conservatives (in Canada) ratified the Free Trade deal but we don’t see the marvelous benefits that all Canadians were going to share in the coming economic utopia. Instead, the costs of our basic needs, our food, energy, water, housing, taxes are outpacing most people’s ability to pay for them. Decent wages and pensions are all of a sudden “unaffordable,” but million dollar salaries and bonuses continue for corporate executives. The IMF and World Bank insist on reduced benefits for workers in order to bail out countries with a debt crisis, but they never demand reduced salaries for executives or increased taxes on corporations or the wealthy.
Fake conservative pundits are always saying that the world “isn’t kumbaya” anymore and use the “economic situation” to justify outsourcing, union busting and the erosion of wages and pensions; but the economic situation didn’t just “happen” like some kind of earthquake or tornado; it is the result of laws and regulations pushed by neo-liberal economists and big business and enacted by governments.
What the multi-national debt crisis proves is that neo-liberal economics are a flop and a disaster all but the very wealthy. Globalization and deregulation have transferred power from elected governments to private corporations that threaten to move to another country if taxes, wages and benefits are not reduced — and if they don’t get to set the terms of operation and receive taxpayer subsidies (cf the oil sands toxic pollution, refusing to label GM ingredients, asbestos… etc etc) These treaties put Canada at the mercy of corporations. They have gutted the heart and soul of democracy.
The truth is that we have a titular government now, and while elections present the semblance of democracy and a kind of horse-race fascination, power is firmly in the hands of private unelected individuals. And, like the men in the Vichy government in WWII, most of our politicians are sock puppets and collaborators with this regime when they enact policies and laws that enrich corporations at the expense of their citizens and our land.
For example, when you own the bank $1000, you have a problem. When you own the bank $10,000,000,000 its the banks problem. Greece has been around for like 5000 years and not going anywhere, they will be fine, they just can’t possibly pay up.
The debts the banksters set up for Greece, so they could enter the ‘poker game’ of the EU, have been shown to violate the Greek Constitution and the Constitution of the IMF, can be shown not to have provided any tangible benifit to Greece and could be deemed odious, therefor unlawful/noncollectable.
Any efforts now by the IMF or Greek Parliament to modify these Constitutions, after the fact, too try to make these odious debts somehow payable ,is paramount fraud, and will only delay things anyway. So Merkel wants the German taxpayers to bail these banks out? That is laughable.
Its time to let this financial system house of cards fall down, before its given a chance to drag the economy with it. Sure it will be a tough for some people, but in a little while, things be replaced and life will go on.
It is now mathematically impossible to pay off all the outstanding debt in the world. By ‘winning’ the banksters have actually lost. The system is broken, unrepairable.
All that can be done now is to postpost it, until the time is ‘right’
But right for whom?
There really is no alternative world wide default, the question is, what will the ‘new’ system be? A new single world currency to continue more or less the same Credit-Based, fiat currency system we have now, or a return to a Debit-Based system, where curreny is based on hard assets and cant be manipulated as easy.
Three things you can count on:
1) The US will raise the debt ceiling before the deadline. All of this talk is just posturing.
2) What cannot be repaid will not be repaid. Political will does not matter in this respect, no matter how much jawboning they do. Governments have a penchant for kicking the can down the road. The longer they do, the more painful this will become on the populace.
3) When this all hits the fan, the middle class will pay for it (either directly or through inflation), the bankers and corporations will be blamed (some rightly, some wrongly), and thousands of the bugs will come crawling out from their rocks. Politicians will say “whocouldanode?” then they’ll set it all back up for another round, fearing “another financial crisis”.
The only real wildcard: How will the populace react?
Unregulated capitalism and deregulation has made corporations incredibly powerful and it’s screwing the rest of us. It’s been 20ish years since the Mulroney Conservatives (in Canada) ratified the Free Trade deal but we don’t see the marvelous benefits that all Canadians were going to share in the coming economic utopia. Instead, the costs of our basic needs, our food, energy, water, housing, taxes are outpacing most people’s ability to pay for them. Decent wages and pensions are all of a sudden “unaffordable,” but million dollar salaries and bonuses continue for corporate executives. The IMF and World Bank insist on reduced benefits for workers in order to bail out countries with a debt crisis, but they never demand reduced salaries for executives or increased taxes on corporations or the wealthy.
Fake conservative pundits are always saying that the world “isn’t kumbaya” anymore and use the “economic situation” to justify outsourcing, union busting and the erosion of wages and pensions; but the economic situation didn’t just “happen” like some kind of earthquake or tornado; it is the result of laws and regulations pushed by neo-liberal economists and big business and enacted by governments.
What the multi-national debt crisis proves is that neo-liberal economics are a flop and a disaster all but the very wealthy. Globalization and deregulation have transferred power from elected governments to private corporations that threaten to move to another country if taxes, wages and benefits are not reduced — and if they don’t get to set the terms of operation and receive taxpayer subsidies (cf the oil sands toxic pollution, refusing to label GM ingredients, asbestos… etc etc) These treaties put Canada at the mercy of corporations. They have gutted the heart and soul of democracy.
The truth is that we have a titular government now, and while elections present the semblance of democracy and a kind of horse-race fascination, power is firmly in the hands of private unelected individuals. And, like the men in the Vichy government in WWII, most of our politicians are sock puppets and collaborators with this regime when they enact policies and laws that enrich corporations at the expense of their citizens and our land.
For example, when you own the bank $1000, you have a problem. When you own the bank $10,000,000,000 its the banks problem. Greece has been around for like 5000 years and not going anywhere, they will be fine, they just can’t possibly pay up.
The debts the banksters set up for Greece, so they could enter the ‘poker game’ of the EU, have been shown to violate the Greek Constitution and the Constitution of the IMF, can be shown not to have provided any tangible benifit to Greece and could be deemed odious, therefor unlawful/noncollectable.
Any efforts now by the IMF or Greek Parliament to modify these Constitutions, after the fact, too try to make these odious debts somehow payable ,is paramount fraud, and will only delay things anyway. So Merkel wants the German taxpayers to bail these banks out? That is laughable.
Its time to let this financial system house of cards fall down, before its given a chance to drag the economy with it. Sure it will be a tough for some people, but in a little while, things be replaced and life will go on.
It is now mathematically impossible to pay off all the outstanding debt in the world. By ‘winning’ the banksters have actually lost. The system is broken, unrepairable.
All that can be done now is to postpost it, until the time is ‘right’
But right for whom?
There really is no alternative world wide default, the question is, what will the ‘new’ system be? A new single world currency to continue more or less the same Credit-Based, fiat currency system we have now, or a return to a Debit-Based system, where curreny is based on hard assets and cant be manipulated as easy.
Three things you can count on:
1) The US will raise the debt ceiling before the deadline. All of this talk is just posturing.
2) What cannot be repaid will not be repaid. Political will does not matter in this respect, no matter how much jawboning they do. Governments have a penchant for kicking the can down the road. The longer they do, the more painful this will become on the populace.
3) When this all hits the fan, the middle class will pay for it (either directly or through inflation), the bankers and corporations will be blamed (some rightly, some wrongly), and thousands of the bugs will come crawling out from their rocks. Politicians will say “whocouldanode?” then they’ll set it all back up for another round, fearing “another financial crisis”.
The only real wildcard: How will the populace react?
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