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How Austerity Economics Is Fraying Europe’s Social Contract


How Austerity Economics Is Fraying Europe’s Social Contract

Conn Hallinan

On one level, the recent financial agreement between the European Union and Greece makes no sense: Not a single major economist thinks the $96 billion loan will allow Athens to repay its debts, or get the economy moving anywhere but downwards. It’s what former Greek Finance Minister Yanis Varoufakis called a “suicide pact,” designed to humiliate the left-wing Syriza government.

Why construct a pact that everyone knows will fail?


When Iceland chose not to bend to the international banking cartel, McDonald's left. Good move Iceland!


“We’re in an era in which the winners become ever stronger and weakest move even further behind,” Italian economist Matteo Caroli told the Financial Times.

This is the trouble with the whole phoney science of economics. Forget strong and weak - you mean rich and poor. But if things are analysed in terms of money, and money becomes the gauge of what matters, it is obvious that those who control money have won any debate before it begins. Money does nothing but control minds and therefore people's behaviour. Economics - ANY economics - is therefore about how to control people. That's not science. It's manipulation.


Apart from its winters, between North Dakota's state bank--which weathers the fiscal storms wrought by deregulation across numerous sectors and its wisdom in blocking the big Drug Retailers from monopolizing its state markets, this just might be the best state in the union to live in!

More power to you, North Dakota!

This is a pretty accurate picture of employment inside the Homeland Security State, today, too:

"After years of rising poverty rates, the Spanish economy has finally begun to grow. But the growth is largely a consequence of falling energy prices, and the jobs being created are mostly part-time or temporary, with considerably lower wages than before the recession. As Daniel Alastuey, the secretary-general of Aragon’s UGT, one of Spain’s largest unions, told the New York Times, “A new figure has emerged in Spain: the employed person who is below the poverty threshold.”

This IS the globalists' new model and TPP and TIPP will enshrine 21st century attempts at serfdom into binding international laws. Coming soon to a state or city near you:

"In 1995, temporary workers made up 7.2 percent of the jobs in Italy. Today, again according to the Financial Times, that figure is 13.2 percent, and 52.5 percent for Italians aged 15 to 24. It’s extremely difficult to organize temporary workers, and their growing presence in the workforce has eroded the power of trade unions to fight for better wages, working conditions, and benefits."


Published on Aug 30, 2015

German Finance Minister Wolfgang Schauble slammed Greece in Berlin, Sunday, accusing the country's society of being incapable of dealing with the requirements of a globalised economy.

Schauble is clearly incapable of being human.


Massive financial contractions were the major reason for Europe's world wars. So now, as Central Bankers use their own magical formulae of wealth to impoverish too many of their fellow citizens, add in the "refugee problem" that is both a result of purposely ignited war flames and global climate destabilization, and a dangerous political recipe is in place:

"Italy and Spain are microcosms for the rest of Europe. The EU’s own south — Italy, Portugal, Spain, Greece, Cyprus, and Bulgaria — are characterized by high unemployment, deeply stressed economies, and falling standards of living. While the bigger norther economies of France, the United Kingdom, the Netherlands, and Germany are hardly booming — the EU growth rate over all is a modest 1.6 percent — they’re in better shape than their southern neighbors."

It is inordinately difficult to BE generous when one's own rent is insecure, nor is there any guarantee of food on the table.

This insecurity can be easily whipped up into jingoistic frenzies. And right wing "leaders" have a dark gift for doing just that. The millions of desperate souls fleeing Yemen, Iraq, Syria, and other inflamed "ports of call" make for perfect targets to those sociopathic zealots who always manage to find their niches during disastrous times. And the Shock Doctrine disaster capitalism devotees have worked overtime to spread disaster, depravity, and despair.

Like the forests of the American northwest, all that's needed to spread old flames of hatred are a few sparks... acting as strategic triggers.

Excellent and fair-minded analysis, Mr. Hallinan... but don't forget that TROIKA has its bankster equivalent on this side of the Atlantic and both are working cahoots to set up the same system:

"And while the troika has enormous power, it’s finding it increasingly difficult to rule over Europe’s 500 million people — a growing number of whom want a say in their lives."


White males... they see the world through the same prism!


Our oligarchy has been waging economic war against the EU for years. Just as they have undermined and attacked the New Deal. Treachery on a global scale. The god of profit and war reign. We have crossed our Rubicon and 2016 is either Armageddon or Waterloo. Sanders 2016. End the neolib, neocon threat to the world.


What do you expect from a Hun?

Germany, or at least some influential Germans in Germany, seem to be incapable of dealing with the requirements to be decent human beings, as proved by events in 1914-1918 and again in 1939-1945.


You are wrong.