13-02-2012, 08:27 PM
Vasilios - thank you.
In my judgement, Greece needs to default.
This will trigger default in Ireland, Portugal, Spain, Italy, Hungary, Slovakia, the Netherlands and possibly even France.
Europe will be in turmoil, but the debt - in practical terms - will no longer exist.
There will be no creditors and no debtors.
Post-default, in the short term, people will need to rely on "soft" support networks - family, friends - to get by.
In the medium term, a meaningful, non-corrupt, economy based on honest work and community can be established.
The acceptance by any nation of "austerity measures" means that when default finally happens, the base starting position is worse. Indeed, it is catastrophic - with both individuals and the state having sold off all tangible assets at a fire sale price to vulture capitalists.
It makes any economic recovery harder because vultures driven only by profit will control a nation's infrastructure - from transport hubs to the national grid to cultural institutions.
Global market capitalism has produced this crisis, and has failed. Global market capitalism is on life support, being fed intravenously by the blood, sweat and pain of ordinary people.
The imposition of "austerity measures" is simply delaying the inevitable flatline of global market capitalism.
It's time to pull the plug and start all over again.
In my judgement, Greece needs to default.
This will trigger default in Ireland, Portugal, Spain, Italy, Hungary, Slovakia, the Netherlands and possibly even France.
Europe will be in turmoil, but the debt - in practical terms - will no longer exist.
There will be no creditors and no debtors.
Post-default, in the short term, people will need to rely on "soft" support networks - family, friends - to get by.
In the medium term, a meaningful, non-corrupt, economy based on honest work and community can be established.
The acceptance by any nation of "austerity measures" means that when default finally happens, the base starting position is worse. Indeed, it is catastrophic - with both individuals and the state having sold off all tangible assets at a fire sale price to vulture capitalists.
It makes any economic recovery harder because vultures driven only by profit will control a nation's infrastructure - from transport hubs to the national grid to cultural institutions.
Global market capitalism has produced this crisis, and has failed. Global market capitalism is on life support, being fed intravenously by the blood, sweat and pain of ordinary people.
The imposition of "austerity measures" is simply delaying the inevitable flatline of global market capitalism.
It's time to pull the plug and start all over again.
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war