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Reading the Greek Deal Correctly


Reading the Greek Deal Correctly

James K. Galbraith


The REAL elephant in the room is that which is never named in US/NATO/EU-captive media… BRICS.

Syriza, and more importantly, its potential alternative backers (Russia, China, BRICS Bank) are not quite ready to invoke the Grexit option. Recall what happened when Russia last extended a more favourable deal than the EU/IMF… in Ukraine.

The New Silk Road runs most conveniently through Greece, but like Ukraine as pipeline corridor, a stable, EU/SCO straddling country is preferable to one inflamed by civil war and social duress.

So Putin and Xi will move slowly and carefully here. In 4 months the EU will be that much more desperate over Ukraine/sanctions and the US will have ISIS/Saudi-oil-price turkeys coming home to roost. Syriza is the mouse preparing to roar… with a dragon and a bear rampant behind it.


A captured media is a media that pushes narratives amenable to the goals and game plans of the 1%.

Often, these elites sandwich people into impossible circumstances and then criticize their “choices.”

A few examples come to mind:

  1. Inner cities gutted of industry and good jobs lead to unemployment, despair, and black market style local economies. Public schools are part of this depressed “infrastructure,” but then the Privateers rush in and claim that these schools have failed… (and along with them, blame teachers) rather than the wider truth: that inner cities are this nation’s (under Mars’ rules) collateral damage (and/or sacrifice) zones.

  2. Young poor women find it harder and harder to obtain birth control and in what to them are emergency cases, abortions. Instead of making sure that Family Planning is part of public health and appropriate resources made available, women searching for reproductive sovereignty are being blamed for their moral laxity and/or life “choices.”

  3. The Shock Doctrine’s religious corollary–promoted as an End Times view of the future–leads many people into doing little to ensure against Global Warming’s catastrophic shocks in coming years. Conditioned to think that destruction is God’s will, faithful followers flock to congregations that give them hope for an After Life in a manner that befits earlier church melded with state eras where Indulgences (guaranteed spots in heaven) were sold to the deep pocketed faithful.

Lies are to mass communication what bio-tech fraudulent substances are to agriculture. Both are being disseminated in such mad rushes as to taint the currencies of nutrition along with “food for thought.”

Those who control the narrative, control MUCH in the way of human behavior, belief, expectation and realm of the considered possible.


I have read JK Galbraith and I am aware of James Galbraith’s general thoughts on economics and politics, so I’m inclined to believe the title of this piece. I recall being shocked by the seeming coordination of the Russian negativity during the Winter Olympics, with David Remnick often leading the way.
I unsubscribed from the New Yorker some time ago because I thought the “quality” had diminished.
Something truly Big Time is going on in international economics and politics, and I wish I knew what it was. BRICS is surely part of it.


Let’s see:

Uprising in Tunisia. Check.
Uprising in Hong Kong. Check.
Uprising (Indignados) in Spain. Check.
Uprising in Iceland. Check.
Uprising in Greece. Check.
Uprising in Egypt. Check.
Uprising in U.K. (street demonstrations) Check.
Uprising in U.S. (Occupy Wall St., Ferguson, the big climate event in NYC). Check.
Uprising in Chile (students). Check.
Uprising in Canada (Idle no more). Check.

This IS happening… and it is spreading like a contagious fire that the mercenary militaries obedient thus far to elites (who write their paychecks) are working to put out, fire by fire.


Add: War in multiple African nations. War all over the Middle East. War in Ukraine. War on China, Myanamar border. The common point is our MIC is in the middle of all of them overtly and covertly. Our biggest export is arms. And mayhem.


Fascinating, Mr Galbraith. Your father was a genius and you are evidently, a ‘chip off the old block’. Your ‘take’ sounds a magisterially subtle and insightful analysis.


That is an excellent complement to the article, thank you, Siouxrose.

Cassidy is an economist. Often better than most, yet, as almost every economist, devoid of any comprehension of authrity. Who is not devoid of any understanding of authority? The US political and economic bosses violate their nominal authority routinely, and their official authority as if it were expected of them. Cassidy is not an independent economist. He answers, as does the New Yorker staff, to Conde Nast, another viciously war-against-nature vulture capital enterprise. Like Halliburton. So Cassidy said all the right things for his bosses. Sounds as if he has given up on maintaining any respect as an economics reporter.


The new Greek government and the Greek population would do well to read about how Ecuador and their president Raphael Corréa challenged their illegitimate depts that foreign banks and investors have burdened their country and population with.


The author is an academic colleague and advisor to Varoufakis, which I think should have been mentioned, as it affects my perception of the objectivity of this piece.