Bird’s-Eye: None of us believe the financial crisis is “solved”, even if we knew what a solution would mean. Here we explore the way that governments, corporations, and political parties are gaining obscene amounts of money, and forcing workers to pay for it. Does that sound like a class analysis to you? Yeah, to me too. But when the shoe fits, march in it….
* Four Deformations of the Apocalypse NYTimes.com
IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and the $7 trillion of new deficits baked into the cake through 2015 — will soon reach $18 trillion. That’s a Greece-scale 120 percent of gross domestic product, and fairly screams out for austerity and sacrifice…. Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.
This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.
* Crises of Capitalism RSA Animate David Harvey
In this RSA Animate, renowned academic David Harvey (who’s he?) asks if it is time to look beyond capitalism towards a new social order that would allow us to live within a system that really could be responsible, just, and humane.
* The Heresy Of The Greeks Offers Hope John Pilger Znet
In Greece, as in America and Britain, the ordinary people have been told they must repay the debts of the rich and powerful who incurred the debts. Jobs, pensions and public services are to be slashed and burned, with privateers in charge. For the European Union and the IMF, the opportunity presents to “change the culture” and dismantle the social welfare of Greece, just as the IMF and the World Bank have “structurally adjusted” (impoverished and controlled) countries across the developing world.
Greece is hated for the same reason Yugoslavia had to be physically destroyed behind a pretence of protecting the people of Kosovo. Most Greeks are employed by the state, and the young and the unions comprise a popular alliance that has not been pacified; the colonels’ tanks on the campus of Athens University remain a political spectre. Such resistance is anathema to Europe’s central bankers and regarded as an obstruction to German capital’s need to capture markets in the aftermath of Germany’s troubled reunification.
