The Birthplace (Greece) vs. the Farce (the United States) of Democracy by PAUL STREET

Democracy is among other things the rule of majority public opinion. Plutocracy is the rule of the wealthy few over and against the popular majority. To understand the different meanings of these two terms, you can consult a dictionary. You can also look at the very different decision-making processes on display regarding major political-economic policies in Greece (the ancient homeland …

The Dream of the Machine – John Michael Greer

As I type these words, it looks as though the wheels are coming off the global economy. Greece and Puerto Rico have both suspended payments on their debts, and China’s stock market, which spent the last year in a classic speculative bubble, is now in the middle of a classic speculative bust. Those of my readers who’ve read John Kenneth …

Financial Bombshells: Greece and JPMorgan By Bill Holter

Not that almost any and all news today is enough to make you scratch your head, two pieces of news yesterday were bombshells!  I am talking about Greece’s stance of staying IN the Eurozone and the Zerohedge article regarding JPMorgan “cornering” the global commodity markets. Let’s first start with Greece, who could have seen this one coming?  They are taking the …

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Alternative Visions – Greece’s Challenge to Euro Neoliberalism – 07.04.15

Jack Rasmus explains the northern Europe Neoliberal origins of the current Greek Debt crisis, and why the Troika cannot and will not accept Greece’s proposals which would upset the Euro-wide Neoliberal consensus. Greece’s proposals represent a return to traditional, pre-Neoliberal, European social democracy—which has been replaced with a new Neoliberal regime Europe-wide since 2000 with the creation of the Euro …

Are European authorities trying to force regime change in Greece? – MARK WEISBROT

It’s ironic but not surprising that the European Central Bank decided Sunday to limit its credit to Greece by enough to force the Greek banking system to close. This has pushed Greece closer to a more serious financial crisis than the country has had in the past five years of austerity-induced depression. Why did the ECB decide to take this …

EuroZone Profiteers: How German and French Banks Helped Bankrupt Greece – Pratap Chatterjee

Alexis Tsipras, the prime minister of Greece, has called a national referendum this Sunday to call the bluff of the European Union and International Monetary Fund who are trying to force his country to accept severe austerity in return for effectively rolling over much of the countries’ debt. Today Greece owes its creditors €323 billion ($366 billion), some 175 percent of the country’s …

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Goldman Sachs Doesn’t Have Clean Hands in Greece Crisis By Pam Martens and Russ Martens

Are Goldman Sachs executives Lloyd Blankfein, Gary Cohn and Addy Loudiadis losing any sleep over elderly pensioners waiting outside shuttered banks in Greece, desperately trying to obtain their pension checks to pay their rent and buy food? Are these Goldman honchos feeling a small pang of conscience over the humiliation by creditors of this once proud country? Perhaps Blankfein, who …

OECD report documents growth of financial parasitism By Nick Beams

A report issued by the Organisation for Economic Cooperation and Development (OECD) last Wednesday is confirmation that the financial crisis of 2008 was not a temporary downturn in the world economy, but arose from fundamental contradictions at the very heart of the global capitalist system. Seven years on, those contradictions are deepening. They have been exacerbated by the policy pursued …