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Gloomy Economic Prospects
- Why U.S. Politicians Are Quiet About Europe's Meltdown
- Chris Hedges | The Implosion of Capitalism
- There is an Alternative to Neo-liberal Monetary Austerity
- Paul Krugman: Austerity Is So Wrong!
Shamus Cooke, Global Research
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After the Greek elections struck fear into the hearts of the global banksters, the fallout remains uncertain. If the next Greek election produces an anti-austerity government, Greece will almost certainly make a speedy exit from the euro.
If this happens — and it is looking increasingly inevitable — the consequences for the global economy are spectacularly gloomy. Yet U.S. media and U.S. politicians are largely silent on the issue, almost as if nothing were happening. What will happen when Greece leaves the Euro? Foreign banks hold over $90 billion in Greek debt in the public and in the private sectors. These enormous losses could very well bring down banks in Europe and abroad.
Related:
Chris Hedges | The Implosion of Capitalism, Chris Hedges, Truthdig / Truth-out
The quest by a bankrupt elite in the final days of empire to accumulate greater and greater wealth, as Karl Marx observed, is modern society’s version of primitive fetishism. This quest, as there is less and less to exploit, leads to mounting repression, increased human suffering, a collapse of infrastructure and, finally, collective death.
Welcome to the asylum.
There is an Alternative to Neo-liberal Monetary Austerity, Michael Hudson, Global Research
- The Economy doesn’t Need to suffer Neo-liberal Austerity.
- There is an alternative: the enforced austerity for the 99% and vast wealth grab by the 1% is not a force of nature.
- Nobel Economist Stiglitz: European, US Austerity Drive is Suicidal
- Welcome to the One Percent Recovery
Paul Krugman: Austerity Is So Wrong! Paul Krugman, Daily Beast
- In a new book, End This Depression Now!, Nobel Prize–winning economist Paul Krugman says the current economic problems can be fixed both more easily and more quickly than anyone imagines. But politicians’ desire to slash spending is deeply destructive, and he details why austerity is so appealing even to Very Serious People—and why it’s such a bad idea.
- Scott Walker's Austerity Agenda Yields 'Worst Job Losses in US'
- Our Best Minds Are Failing Us
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