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Tag Archives: austerity
Desperation And Austerity Hit Global Energy Markets
Desperation And Austerity Hit Global Energy Markets We are starting to see the makings of energy curtailments in Europe – an exceedingly unpopular step that governments would be unlikely to take if there were any other choice, highlighting the acute desperation that exists over oil and gas supplies. Another signal of this desperation is Biden’s […]
Beijing Crashes The Party: Chinese Media Warns Austerity Is Coming After FinMin Says “Proactive Fiscal Policy” No Longer Feasible
Beijing Crashes The Party: Chinese Media Warns Austerity Is Coming After FinMin Says “Proactive Fiscal Policy” No Longer Feasible One of the top reasons why stocks have continued to hit new all time highs despite the ongoing economic shock that has crippled China’s economy, which according to Goldman will push its GDP to zero (or […]
Assange, Varoufakis, Brexit
Assange, Varoufakis, Brexit A friend of mine here in Athens, Greece, named Wayne Hall, who’s of Australian descent but moved here at about the time Napoleon headed for St. Petersburg, and works as a translator and language teacher, sent me a mail a few days ago that I thought was interesting. In particular, Wayne referred […]
Ann Pettifor: If I governed the Bank of England, here’s what I do
Ann Pettifor: If I governed the Bank of England, here’s what I do The radical economist outlines how she’d overhaul the UK’s broken economy. If such an implausible appointment were ever to be made by a Labour chancellor, I would regard it as a great honour. The Bank of England stands at the pinnacle of […]
Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt
Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt Having been told by The IMF that he must stop using their bailout funds to prop up his currency (which has been utterly futile), Argentine President Mauricio Macri addressed the troubled nation this morning to announce his plans to satisfy Christine […]
This is Italy. This is not Sparta.
This is Italy. This is not Sparta. Nikolay Dubovsky Became Silent 1890 “European Stocks Surge Celebrating New Spanish, Italian Governments”, says a Zero Hedge headline. “Markets Breathe Easier As Italy Government Sworn In”, proclaims Reuters. And I’m thinking: these markets are crazy, and none of this will last more than a few days. Or hours. […]
When America’s Fiscal Crisis Hits, Be Forewarned that Tax Increases Will Make a Bad Situation Worse
When America’s Fiscal Crisis Hits, Be Forewarned that Tax Increases Will Make a Bad Situation Worse When America’s fiscal crisis hits, remember that raising taxes will only exacerbate the problem. At some point in the next 10 years, there will be a huge fight in the United States over fiscal policy. This battle is inevitable […]
Eleven Saudi Royals Arrested For Protesting Against Austerity
Eleven Saudi Royals Arrested For Protesting Against Austerity Members of Saudi Arabia’s royal family have apparently learned nothing from their cousin’s authoritarian tendencies. To wit, Saudi authorities on Saturday detained 11 princes after they gathered at a royal palace in Riyadh to protest austerity measures imposed by their cousin and the state’s de facto leader: […]
The Greek Fraud Reads Like a Crime Novel
The Greek Fraud Reads Like a Crime Novel Tamara de Lempicka The refugees 1937Note: I feel kind of sorry this has become such a long essay. But I still left out so much. You know by now I care a lot about Greece, and it’s high time for another look, and another update, and another […]
Monetary Imperialism
Monetary Imperialism Photo by Nathaniel St. Clair In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity. The reality since World War […]
The Only Real Europe is Greece
The Only Real Europe is Greece Eugene Delacroix Greece expiring on the Ruins of Missolonghi 1826European Commission president Jean-Claude Juncker, famous for his imbibition capacity and uttering -not necessarily in that order- the legendary words “when it becomes serious, you have to lie”, presented his State of the Union today. Which is of pretty much […]
Not Nearly Enough Growth To Keep Growing
Not Nearly Enough Growth To Keep Growing Jackson Pollock Shooting Star 1947 It’s amusing to see how views start to converge, at the same time that it’s tiresome to see how long that takes. It’s a good thing that more and more people ‘discover’ how and why austerity, especially in Europe, is such a losing and […]
Degrowth by designed disaster?
Degrowth by designed disaster? How the conflation with neoliberalism and austerity unfairly reduces the idea of degrowth to absurdity – and where the degrowth movement can turn for answers to the crisis. The degrowth movement has been developed in response to neoliberal reality, neoliberalism’s comically reductive view of human nature, its ecological blindness and the […]
$3 Trillion Black Hole Could Destroy Economy: “True Extent of Pension Problem Has Been Obscured”
$3 Trillion Black Hole Could Destroy Economy: “True Extent of Pension Problem Has Been Obscured” Yet another reason why taxes are going up, cities and states are going broke, and the world is approaching financial implosion… As if the world needed another dangerous and volatile factor in the mix of looming economic downturn. Unfunded liabilities […]
Let Me Tell You About the Very Rich
Let Me Tell You About the Very Rich The Panama Papers highlight, with painstaking clarity, that austerity is not a shared sacrifice. It’s not like we didn’t know what was going on. But the “Panama Papers,” the largest-ever document leak and one that implicates political leaders and business executives around the world, confirms it — […]
