Black People : Africa; Mother of Greek civ., but will Greek economic chickens come home to roost??

Discussion in 'Black People Open Forum' started by Ankhur, May 21, 2010.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

    Oct 4, 2009
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    owner of various real estate concerns
    Is the hell of Greek economics theplanned future of the 50 plus nations of Africa? in the White Supremist plan for global hegemony? and propping up coruption that allows economic decline, and thn come in like a hero to solve the financial disaster with even worse, life harming poicies?

    "Drop Dead Economics": The Financial Crisis in Greece and the European Union
    The Wealthy Won’t Pay Their Taxes, So Labor Must Do So

    By Michael Hudson

    Global Research, May 11, 2010

    Riddle: How are the Greek rioters like America’s Tea Party movement?

    Answer: Both reject government being taken over by the financial oligarchy to shift the tax burden onto labor.

    The difference is that the Tea Partiers have lost faith in government. This is just what the financial oligarchy wants, of course. Giving up hope of gaining electoral control to pursue a fair fiscal agenda, the Tea Partiers have abandoned the centuries-long fight for reform to make governments better by giving them the power to check predatory finance and wealth. Sliding to the right wing of the political spectrum and acting mainly out of frustration, they have succumbed a utopian desire simply to shrink government that they see acting adversely to their interests.

    Financial lobbyists are using the Greek crisis as an object lesson to warn about the need to cut back public spending on Social Security and Medicare. This is the opposite of what the Greek demonstrators are demanding: to reverse the global tax shift off property and finance onto labor, and to give labor’s financial claims for retirement pensions priority over claims by the banks to get fully paid on hundreds of billions of dollars of recklessly bad loans recently reduced to junk status.

    The Greek bailout should be thought of as a TARP for German and other European bankers and global currency speculators. Almost $1 trillion is being provided by governments (mainly Germany, at the cost of its own domestic spending) into a kind of escrow account for the Greek government to pay foreign bondholders who bought up these securities at plunging prices over the past few weeks. They will make a killing, as will buyers of hundreds of billions of dollars of credit-default swaps on the Greek government bonds, speculators in euro-swaps and other casino-capitalist gamblers. (Parties on the losing side of these swaps now will need to be bailed out as well, and so on ad infinitum.)

    This windfall is to be paid by taxpayers * ultimately those of Greece (in effect labor, because the wealthy have been untaxed) * to reimburse Euro-governments, the IMF and even the U.S. Treasury for its commitment to predatory finance. The ³sanctity of debt * sacrificing the economy to pay bondholders * is to be used as an excuse to slash Greek public services, pensions and other government spending. But what is sanctity and religion, after all, without sacrifice. The question is, who is being sanctified, and to what god? In this case it seems to be Mammon, not Jesus. Self-immolation is to become a model for other countries to impose similar austerity as governments run up budget deficits in the face of economic shrinkage and falling tax collections.
    “Drop Dead Economics”: The Financial Crisis in Greece and the European Union | Global Research - Centre for Research on Globalization