Labor “reforms.” Giggle. Nice euphemism for stripping workers of their rights:
Hundreds of thousands of protesters were marching throughout Spain on Sunday in the first large-scale show of anger over new labor reforms that make it easier for companies to fire workers and pull out of collective bargaining agreements.–Priyanka Boghani, Associated Press
Yes, because in a country with 23% unemployment (!) firing people is …
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The BBC’s Paul Mason reports.
There’s no future for us. We can’t dream. We can’t live.
Finance achieves today what military invasion used to do in times past. So the new mode of warfare is financial, not military. It’s much cheaper and it’s much safer–for the country doing the attack.
Having forced unprecedented budget cuts on the Greeks, the EU “troika” (grim humor in that name, again) are demanding that the Greek government abrogate democracy. Oh, they are more genteel than to demand that outright, but listen to the conspiracy the EU is demanding of the Greek political parties against their own voters:
The “troika” of institutional lenders – the EU, the International
Excellent photos series from clashes in Athens at The Atlantic.
“Stimulus worked, simple as that.”–David Blanchflower, The Guardian
Facts are facts, and Blanchflower shows (for the umpteenth time) that those economies that avoided “austerity” are climbing out of the “lesser depression.” Those that followed the advice of the budget scolds?
If we take the first quarter of 2008 as the start of the recession, output is still markedly lower in Denmark
by Nick Glossop on February 14, 2012
by Matthew Payne on February 10, 2012
Despite announcements in Athens and Frankfurt that Greece’s government had yielded to savage new terms from the eurozone to qualify for the bailout, it was unclear whether the complex new rescue package would be finalised at the parties’ meeting in Brussels.
“Savage new terms.” But these new terms, savage though they might be, are
This document is the ur-text of economic policymaking for the Obama Administration.–Ryan Liza, The New Yorker
Yes, of course it is. And what it shows is that Larry Summers, that living embodiment that the Peter Principle is no impediment to a truly gifted incompetent (I mean seriously, how do you manage to get fired from Harvard? Has that ever happened), seriously under-estimated the seriousness of the economic …
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by Matthew Payne on January 18, 2012
via The Independent,
A group of hedge funds is threatening to block a last-ditch attempt to save Greece from defaulting on its huge debt pile, unless they are guaranteed a significant payout.
At least the Establishment Press is calling it “greed” instead of “a reasonable return on investment.”
In the midst of 2011′s transition from the Great Recession to a global economic slump, this site has highlighted lucid and accessible analysis from Steve Keen, David Harvey, Costas Lapavitsas, Nouriel Roubini, and Richard Wolff. Capitalism Is the Crisis is a feature length documentary that synthesizes such analyses, using short interview clips with leading critical thinkers such as Naomi Klein, Chris Hedges, Leo Panitch…
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