Articles Economic Crisis

  • Who Profited From the $440 Billion Greek Bailout? Not Greeks

    Economic Crisis

    One might think that US$440 billion in loans would have helped Greece recover from the global recession of 2008-09 and the Europe-wide chronic, stagnant economic growth ever since. But no, the US$440 billion in debt the Troika piled on Greece has actually impoverished Greece even further, condemning it to eight years of economic depression with no end in sight.

  • Olympics, debt and repression

    Economic Crisis

    One thing that’s going to happen — it’s already happening in Rio — is that you are going to get a lot more repression during the Olympic Games; you’re going to get a militarization of the streets. Rio will have 85,000 security personnel trying to make sure there is no disruption and it’s going to be very regimented and very harsh.

  • The Looting Stage of Capitalism: Germany’s Assault on the IMF

    Economic Crisis

    The banks don’t want Greece to be able to service its debt, because the banks intend to use Greece’s inability to service the debt in order to loot Greece of its assets and resources and in order to roll back the social safety net put in place during the 20th century. Neoliberalism intends to reestablish feudalism—a few robber barons and many serfs.

  • ‘Everyone’s outraged’: angry Greeks foresee Grexit and drachma’s revival

    Economic Crisis

    Increasingly, Greece is a land inhabited by rich and poor. Sights that were once shocking – middle class men and women rifling through the rubbish cans on streets – are now mundane. That worries Stergiou. Just as it worries Korkidis who foresees more companies fleeing, massive tax evasion returning and the black market flourishing as people try to survive.

  • Majority of US Millennials Reject Capitalism

    Economic Crisis

    Young people in the U.S. are increasingly rejecting capitalism. According to a recent survey conducted by Harvard University, 51 percent of respondents between the ages of 18 and 29 do not support capitalism. Only 42 percent said they were in favor of the current economic system.

  • Looking the Basic Income Gift Horse in the Mouth

    Canadian Politics

    We are in a period when capitalism and the governments that represent its interests are increasing the rate of exploitation and reducing the level of social provision. That is not about to change and any redesign of income support systems we confront will be all about furthering, not limiting, levels of social inequality.

  • The New Global Financial Cold War

    Economic Crisis

    That’s how Germany industrialized and how the rest of Europe did. Bit the aim of the Trans-Pacific Partnership is to reverse and privatize public investment. Its ideology is that the economy should be owned and operated by private owners, private enterprise, whose aim is short-term profit.

  • The US Economy Has Not Recovered and Will Not Recover

    Economic Crisis

    There is no “New Economy.” The “New Economy” is like the neoconservatives promise that the Iraq war would be a six-week “cake walk” paid for by Iraqi oil revenues, not a $3 trillion dollar expense to American taxpayers and a war that has lasted the entirely of the 21st century to date, and is getting more dangerous.

  • Trade Minister Needs to Break Out of Bureaucrat’s Bubble on TPP

    Canadian Politics

    There have been no meetings with NGOs who have taken the time to examine the TPP closely, like the Council of Canadians and the Canadian Centre for Policy Alternatives, with First Nations (whose agreements with governments can be trumped by ISDS) or environmental groups.

  • The TPP: What’s Behind It?

    Canadian Politics

    Will our PM live up to his commitment to Canadians to represent all the people, the middle class and working class, or will he crumble under the weight of the owners of our capitalist system with their unconscionable greed and that of their handmaidens, the racketeers on Wall Street and Bay Street?

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