EU Infrastructure Undermines Sovereignty By Michael Hudson

10 July 2015 — Michael Hudson

The major financial problem tearing economies apart over the past century has lain more with official inter-governmental debt than with private-sector debt. That is why the global economy today faces a similar breakdown to 1929-31, when it became apparent that the volume of official inter-government debts could not be paid. The Versailles Treaty had imposed impossibly high reparations demands on Germany, and the United States imposed equally destructive demands on the Allies to use their reparations receipts to pay World War I arms debts to the U.S. Government.

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Reasons To Be Uncheerful By S. Artesian

19 June 2015 — The Wolf Report: Nonconfidential analysis for the anti-investor

Three months ago, the Hellenic Parliament in Greece decided to establish the Truth Committee on the Public Debt to examine the origin of the accumulation of that negative value, of capital’s anti-matter called debt, that has, pretty much, sucked Greece into a black hole.

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The Shorty Long of It By S. Artesian

5 March 2015 — The Wolf Report: Nonconfidential analysis for the anti-investor 

1.  The Short

Submit the “reform package” agreed to by Syriza government to the parliament for a vote
No to the “reform package” agreed to by the Syriza ministers
–No confidence in the Syriza government
–Repudiate the debt, the MFFA, and the reforms in their entirety.

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The Cat in the Box: Quantum Social Democracy and the Uncertainty Principle By S. Artesian

28 February 2015 — The Wolf Report: Nonconfidential analysis for the anti-investor

Richard Seymour, VIB, wrote on SIP Louis Proyect’s chat-list:

No formal count was taken at this meeting, but according to Stathis Kouvelakis, 30 MPs were out of the room when the vote was taken and 40 abstained or voted against.  If this is right, then a third of those present voted against.  He recounts that most speakers – some 80 MPs – criticised the deal, in an emotional and turbulent meeting that went on for 12 hours.

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Yani and the Hand Jive By S. Artesian

27 February 2015 — The Wolf Report: Nonconfidential analysis for the anti-investor

I know a cat named Doctor Yani…

He’s got a real cool job, jivin’ for money
He knows just what makes the eurozone tick
He does that hand jive just for kicks

On Tuesday, February 24, 2015,  the Syriza government of Greece presented its “first comprehensive list of reform measures” to the president of the Eurogroup.  The Eurogroup is what  the committee made up of the finance ministers of countries using the euro as currency is called when it actually meets.

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24 hours late, and € 240 billion short

24 February 2015 — The Wolf Report: Nonconfidential analysis for the anti-investor 

1. A day late and more than a dollar short, Yanis Varoufakis submitted a “program” of reforms to the Eurozone finance ministers (Eurogroup) regarding the Greek government’s development and implementation of tax policies, public finance management, revenue administration, public spending, social security reform, public administration and corruption, instalment schemes, labor market reforms, product market reforms, better business environment, judicial system reforms, banking and non-performing loans, privatisation and public asset management, statistics, and last and certainly least,  the humanitarian crisis where Yanis sums it up perfectly, puts a cherry on it, wraps it with a bow, seals it with a kiss

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Bruiseology By S. Artesian

23 February 2015 — The Wolf Report: Nonconfidential analysis for the anti-investor

The Syriza government has postponed submitting its proposed list of “reforms” to the European Union.  The “reforms” were due on Monday, 23 February, but the Syriza ministers won’t be ready until tomorrow.  Indeed.  That–“won’t be ready until……”– describes Syriza’s leadership perfectly.

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US: Retail Death Rattle Grows Louder

27 May 2014 — WashingtonsBlog

The definition of death rattle is a sound often produced by someone who is near death when fluids such as saliva and bronchial secretions accumulate in the throat and upper chest. The person can’t swallow and emits a deepening wheezing sound as they gasp for breath. This can go on for two or three days before death relieves them of their misery. The American retail industry is emitting an unmistakable wheezing sound as a long slow painful death approaches. Continue reading this...

Michael Hudson: The New Cold War’s Ukraine Gambit

16 May 2014 2014 — Naked Capitalism

By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “The Bubble and Beyond.” This article is from a new book, Flashpoint in Ukraine, edited by Stephen Lendman. It is currently available from Clarity Press as an e-book, and soon to be printed.

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Can the Top 10% Prop Up the Whole Economy? By Charles Hugh Smith

15 May 2014 — Washington’sBlog

Is the top 10% up to the task of borrowing and blowing enough money to prop up a debt and bubble-dependent economy?

Since the entire economy depends on consumption for its “growth,” and discretionary consumption is financed with either cash or debt, that leads to two questions: 1) who has cash to spend on non-essentials and 2) who is credit-worthy enough to borrow money for non-essentials?

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We can end the despotism of finance, at a price By Ann Pettifor

24 February 2014 — OurKingdom

To mark the publication of Ann Pettifor’s e-book, Just Money: How Society Can Break the Despotic Power of Finance, OurKingdom are running a series of articles that explore the nature of money and the politics of the financial system. Here Pettifor launches the series and introduces some of its key themes.

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Video: Indebted citizenship – an interview with David Harvey in Teatro Valle

24 February 2014 — OpenDemocracy

Austerity doesn’t make sense economically: but it does make sense as a politics of autocracy and the securitized state. Europe should learn from China and Latin America, interviewed by Andrea Mura. (Video, 17 minutes).

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How the Credit Card Gravy Train Is Running Over You By Ellen Brown

18 February 2014 — Ellen Brown

The credit card business is now the banking industry’s biggest cash cow, and it’s largely due to lucrative hidden fees. 

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The Debt Matrix: Consumption and Modern-Day Slavery By Timothy Alexander Guzman

1 December 2013 — Silent Crow News

“Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt” – Henrik Ibsen

According to Oxford Dictionary the term Slave is defined as “a person who is the legal property of another and is forced to obey them” as in the case of the United States during the 18th and 19th centuries where slavery was a legalized institution.  Oxford dictionary also defines slavery as “a person who works very hard without proper remuneration or appreciation” as in today’s world of a person working for a company or corporation where their efforts are usually under appreciated.

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