In protesting the Treaty of Versailles ending World War I, John Maynard Keynes wrote: “The policy . . . of depriving the lives of millions of human beings, of depriving a whole nation of happiness should be abhorrent and detestable — abhorrent and detestable, even if it were possible, even if it enriched ourselves, even if it did not sow the decay of the whole civilized life of Europe.”
I recently visited Puerto Rico. My daughter moved out of San Juan to a different part of the island where there is still a functioning public school. When she signed up my grandchildren, she was pushed (but did not) to sign a form (designed by the Hedge Fund bastards taking over that island on account of a bet that resembles the Native Americans' trade of Manhattan for Wampum) that explained that public schools were going to demand payment--in the form of teachers' salaries, books, and supplies--from parents next year.
There is talk of the Hedge Funds taking control of the prime beaches AND the rain forest.
If this behavior isn't stopped by what agencies of justice still exist on a global scale, any and every nation's treasures will soon be at risk. Greece, Flint, Michigan, and Puerto Rico are Test Zones for a larger plan.
What a great summary for those who think the Greeks were simply 'irresponsible'. Galbraith - one of my economist heroes, like Baker and others. Of course, none of them have played any role for Obomber, and none will for Clinton or Trump. For Stein however, they may. Keep clean, vote Green. I believe brexit was a good idea, and it seems the article backs that up.
The bailout was all about the complete privatization of all governmental and quasi-governmental institutions.
Nothing says 'profits' like privatization.
Unless they revolt the Puerto Ricans are screwed for the next 50 years.
“None are more hopelessly enslaved than those who falsely believe they are free!”
― Van Goethe
“I can remember when believing in conspiracies wasn’t cool. Now, in the
second decade of the twenty-first century, more people are starting to
sense that things may not be as they appear to be. The truth in Lord Acton’s
classic axiom that “Power corrupts, and absolute power corrupts absolutely”
becomes more self-evident every day. Politicians from the only two parties
we have to choose from break promises, are unresponsive to the will of the
people, and opt for war, austerity measures, and state control over and over
again. Gary Allen, author of the book None Dare Call It Conspiracy, defined
things perfectly when he wrote, “It must be remembered that the first job of
any conspiracy, whether it be in politics, crime or within a business office, is
to convince everyone else that no conspiracy exists.”
― Donald Jeffries, Hidden History: An Exposé of Modern Crimes, Conspiracies, and Cover-Ups in American Politics
“It will change everything. We won't need governments and corporations. The very concepts our economic and social systems are based on: money, wealth, privilege, will be meaningless. What use is money when everyone can build everything they need?'...
'These are people who've spent their whole lives fighting their way to the top and you're just going to tell them that there is no top anymore?... it's you that doesn't understand: they only care about material things as status symbols, to show that they're better than everyone else, that they've beaten everyone else, that's what drives them. They'll never give that up.”
― K. Valisumbra, Mortlake and Other Stories
It worth pointing out that Greece is one of the few member nations of NATO that meets the goal of 2 percent of GDP spending on the military.
Indeed military spending climbs.
This was done at the insistence of EU member nations and in particular Germany .
German firms that produce Military goods are one of the largest suppliers of arms to Greece.P
Frank Herbert wrote a corollary to Acton's axiom: "Power attracts the corruptible."
In fact, I think Acton's axiom is the corollary to Herbert's, despite the difference in timeline.
Definition of Conspiracy in Law. an agreement by two or more persons to commit a crime, fraud, or other wrongful act.
I am a conspiracy realist. I defy anyone to find a large corporation that has not been convicted, paid a fine in lieu of prosecution or had to pay judgements in class action or individual suits for criminal behavior, The executives of those corporations meet in secret. Therefore corporate capitalism is a vast criminal conspiracy. Corporations are legal constructs authorized by government for the good of the nation. They once had charters that had to be renewed after a limited time. We should return to that practice so that criminal corporations can easily be shut down.
Agencies of justice will have to fall to the people who fall upon the sword as martyrs for a revolution against something so deep and dark, ugly, profane and self consuming...in the movies, super heroes win. In real life, human don't survive.
Seems like the Five Star Movement in Italy could fit well into a pan-Democratic Europe as envisioned by Veroufakis and his group.
Austerity in its current form seems like a more sophisticated and cruel version of what the IMF has been building up for decades - see Diary of an Economic Hitman by John Perkins.
Thanks to James Galbraith for this essay. In "The Devils Chessboard", David Talbot describes in detail the Dulles Brothers manipulations involving Germany at Versailles, and the result is very similar to the German/Greek treatment today. I think that clear thinking and writing by able economists like Varoufakis and James Galbraith could finally expose this international fraud and set the world on a more peaceful route. One can only hope...
Read Michael Hudson
Also this: YANIS VAROUFAKIS | NOAM CHOMSKY, NYPL, 26 April - YouTube
In this video he tells the story of his meeting with Wolfgang Schäuble.
Varoufakis starts telling his story of the meet with Wolfgang Schäuble in which tells him as a patriot he would not sign it at 46:10.
Puerto Rico and Greece are not responsible for corrupt debt incurred by crony capitalists and pirate colonists. This is US law.
The flaw in an otherwise brilliant analysis occurs here (and it was the same mistake made by Yanis Varoufakis, who also attempted to design a solution around borrowing ability for growth.
"Italy alone is interesting: It is in the midst of a banking crisis whose only solution is stronger growth; this requires the government to defy Eurozone doctrine or it may lose power to the radical Five Star movement soon."
Budgetary balance is a modern progressive position, by Garrett Connelly
August 8, 2016 was Earth Overshoot Day. That is the day when the world economy overshoots Earth’s ability to resupply and recycle wastes. Earth overshoot day occurs earlier each year. Greenhouse gasses, water pollution and specie extinction are among the more dangerous overshoots.*
The world economy requires 1.6 Earths. If every one on Earth lived like the US, the world economy would require 4.8 Earths — 5.4 Earths if we all lived like Australians. France and the UK operate at about a three Earth consumption level. With this in mind, imagine if every working age person on the planet was busy 40 hours a week making updated iGizmos to keep their company sales growth on target.
Additionally, it is well known that the greatest life-style ecological damage is at the highest wealth; eliminate the lower income 85% of humanity and the change in ecological damage will not be sufficient to avert impending environmental collapse.
Humble living as an educated and active person in a loving family and fun neighborhood that leaves Earth healthy is one good way to live. A life that considers the goal of education and Earth healing grace as ultimate success can also be an exemplary citizen in a society and economy that reaches for star travel. Super wealthy individuals are not needed for humanity to become space travelers. Cosmic powered biology manifest as human already travels the cosmos, just as water already runs down hill.
Humanity is riding an accelerating cosmic expansion. Earth is traveling very fast in an unknown direction — Cosmic powered biology manifest as human surfing big-still-banging took a wrong turn at life speed and hurt Earth for money. Now humanity is awakening and becoming apologetic, perhaps a bit ashamed.
Many thinking people seriously consider methods of reducing economic intensity to less than one Earth. The proposal here is to heal Earth with human rights using real cultural tools available to humanity as a biological facet of big bang — Autonomous democracy and distributed intelligence.
Autonomous democracy is an ancient human tool used to focus distributed intelligence. The mutual task explored here is how to formulate a prosperous culture that includes a gently declining population accompanied by a reduction in economic intensity and an end to ecologically unacceptable war pollution.
Demand for a balanced budget is central to modern progressive thinking even if most progressives don't yet realize it. This statement appears counterintuitive at first glance only because the textual smoke and mirrors of Oz purposefully obscure reality. Rather than explain how and why the balanced budget idea became so muddled in economic mumbo jumbo, this brief manifesto starts with an old US constitutional provision to lay out today’s practical and political reasons for budgetary balance.
Do you remember when your middle school civics teacher explained to the class why the house of representatives has the shortest term? Two years. Remember? It is because US representatives are in charge of the budget. If your elected representative spends too much money and your taxes go up for something unwanted, one can vote that representative out. Pronto.
This simple idea was worked out in the US constitution 240 years ago ±. It stands as an uncanny intergenerational communication of a subject that encompasses modern basics of the information-age. On the largest scale, today, we measure gravity waves. And at the quantum level we study atomic and sub atomic events that are wave or particle depending on the observer. The idea of a balanced budget fits in here because US national founders have directly communicated reasonable and salient information to the present across time at a moment of dire need in the information age.
Deficit government spending destroys democracy by avoiding discomfort to voting taxpayers. Elected representatives are thus able to spend freely on group-think purchases from crony capitalists. Voter retribution is side-stepped and grateful campaign contributors buy electoral victories that turn two years into a career for life. Democracy is destroyed in this way; government spends imaginary money on real and often secret things intelligent people wouldn’t pay for.
A balanced budget was accepted as a fact of life by the writers of the US constitution. The remedy for excess spending remains the ballot box. US founders knew there would be times when major improvements cost more than the annual taxes could afford. A ballot proposal to create a public bond to finance a large project is an exercise of democracy. Exercise of democracy as a continuous act that includes examination of bond proposals. That is a constitutional expectation of a balanced budget. Current budgetary practices by the house of representatives is contrary to this expectation and thus destroys democracy. Therefor, a totally new congress is high priority.
The underlying purpose of these ideas as laid out is to help define those steps needed to eliminate corruption, reverse austerity, and establish that deficit spending to enhance growth with green jobs contains major intellectual problems that need to be thought out.
Yes. There is need for good trains and mass transit. Oppositely, eternal war and a trillion dollar modernized nuclear weapons arsenal are not needed or wanted by voting taxpayers. Deficit federal spending destroys democracy by funding projects which taxpayers would object to when they paid the tax for it. Remember. That is why US founders placed primary budget responsibility with two-year representatives.
Humanity also needs small-scale organic food production to provide protein from legumes in order to cut back on red meat. How do we utilize this wide-spread knowledge and introduce eco-agriculture widely? Autonomous democracy is a tool to focus distributed intelligence.
There is much talk of jobs for millions yet no discussion of corporate agriculture and its use of semi-slave migrant labor. Industrial agriculture uses trainloads of poison chemicals sprayed in California according to a calendar schedule hanging on a wall street wall. Distributed human intelligence knows that corporate agriculture is socially archaic and among the very largest polluters, antibiotics included.
How many tens of millions of unemployed would gravitate to small-scale ecological agriculture to raise a family as Earth preservation grows too expensive for corporations? Tens of millions of formerly under employed over educated citizen scientists will turn to ecological agriculture. They will tend to have smaller families which result as an unintended benefit of education, just as their urban counterparts, many of whom will be helping with boosting quality of life for an aging population. A gentle population decline will put less stress on Earth and distributed human intelligence can design a sustainable new way that does not require endless capitalist expansion.
Intriguing topics that are not discussed by national media monopolies are the very soul of complex ideas that distributed human intelligence brings to focus with gusto. Especially on the bio-net of direct communication. For example, humanity knows the US military is number one polluter, followed by US national government. Autonomous democracy is more than a binary yes or no.
Many people have noticed all of life’s facets discussed thus far, plus an infinitude of ideas distributed in individual brains around the world. Autonomous democracy is an ancient organic tool humans use to focus distributed human intelligence and then tell the government what to do. This possible course to reverse global climate collapse cannot happen under dictatorship or totalitarian empire. A well functioning uncorrupted republic staffed by elected officials and dedicated public servants is required for modern civilization to concentrate, focus with autonomous democracy, and save Earth.
Autonomous democracy has grown along with distributed human understanding from fire-lit caves to here and now, the information age. Science and the dawning of Aquarius illuminate autonomous democracy as part of being human.
A military empire that attempts to direct the human biological aspect of big-still-banging is doomed to everlasting hubris on a treadmill. Followed by bankruptcy.
- Earth overshoot day resource link http://www.france24.com/en/20160807-earth-overshoot-day-resources-depleted-quickest-rate-ever-2016
Simply wonderful Garrett_Connelly, thanks so much...
Thanks. I worked on this quite a bit.
Very wonderful work too Garrett_Connelly, it could be the beginning of a real rational discussion that may be something like post-Keynes?