Tag Archives: Austerity

The Recovery Meme and Why It’s Just Talk

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“The top people in Britain announce the ‘recession’ is over … and then the powers-that-be attribute its ending to the Diamond Jubilee and the English-hosted Olympics.  These are fairytales. The world’s current downward spiral is the quite deliberate result of money printing that causes first booms and then busts. Too much money always distorts the economic system. It’s an old banking trick, from what we can tell, but aided immeasurably by modern monopoly central banking. irst they expand. Then the economic rubber band snaps back, leaving people dazed and bleeding. And then those responsible begin to point fingers.”

http://www.thedailybell.com/28204/The-Recovery-Meme-and-Why-Its-Just-Talk

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Catalan politicians ask for EU help against Spanish army

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“Four Catalan MEPs have asked the European Commission to tell Spain it cannot use military force to stop Catalonia from splitting away.  The letter says: ‘We are writing to you to convey our deep concern over a series of threats of the use of military force against the Catalan population … In these circumstances, the EU should intervene preventatively to guarantee that the resolution of the Catalan conflict be resolved in a peaceful, democratic manner.’  Spanish MEP Alejo Vidal-Quadras had said: ‘They [the government] should be briefing a general of the Civil Guard … the government should think of intervening in the rebellious region if they persist.'”

http://euobserver.com/institutional/117998

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Amid Austerity, Greek Doctors Offer Help to Poor

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“Until recently, Greece had a typical European health system, with employers and individuals contributing to a fund that with government assistance financed universal care. Things changed in July 2011, when Greece signed a supplemental loan agreement with international lenders to ward off financial collapse. Now Greeks must pay all costs out of pocket after their benefits expire.  The changes are forcing increasing numbers of people to seek help outside the traditional health care system. Elena, for example, was referred to Dr. Syrigos by doctors in an underground movement that has sprung up here to care for the uninsured.”

http://www.nytimes.com/2012/10/25/world/europe/greek-unemployed-cut-off-from-medical-treatment.html?_r=3&nl=todaysheadlines&emc=edit_th_20121025&&pagewanted=all

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The most powerful person in the global economy

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“The most powerful person will soon be the president of the European Central Bank, the Italian banker Mario Draghi.  In the last few weeks, we have seen an extraordinary expansion of the European Central Bank’s powers. It can now set interest rates, control financial markets, and effectively dictate tax and spending policies across what remains — despite its current difficulties — the world’s largest single economic bloc.   But history suggests that when you concentrate too much power in a single pair of hands, and even worse when the person who wields that power is not limited by any form of accountability, the results are catastrophic.”

http://www.marketwatch.com/Story/story/print?guid=39085726-1D31-11E2-B624-002128040CF6

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An assault on living standards set to run and run

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“Sir Mervyn King, Governor of the Bank of England, warned this week that the next generation may have to live under the shadow of today’s economic correction ‘for a long time to come’.  The Governor is still as reluctant as ever to concede the central bank’s own culpability in the crisis.  In his own speech, Sir Mervyn makes a clear distinction between what he calls ‘good’ money printing of the type the Bank of England is already practising through quantitative easing, and ‘bad’ money printing of the ‘helicopter’ variety.”

http://www.telegraph.co.uk/finance/comment/jeremy-warner/9631876/This-is-an-assault-on-living-standards-set-to-run-and-run.html

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Firings Highest Since 2010 as Ford to Dow Face Slump

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“Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales.  North American companies have announced plans to eliminate more than 62,600 positions at home and abroad since Sept. 1, the biggest two-month drop since the start of 2010, according to data compiled by Bloomberg. The reductions coincide with a majority of U.S. companies missing analysts’ third-quarter revenue estimates and a focus on jobs in the final weeks of the U.S. presidential campaign.”

http://www.bloomberg.com/news/2012-10-24/firings-reach-highest-since-2010-as-ford-to-dow-face-sales-slump.html

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Spanish unemployment tops 25 percent

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“Spain announced Friday that its unemployment rate broke the 25-percent barrier for the first time as austerity cuts squeezed the recession-struck economy.  Tens of thousands of jobs were destroyed in the third quarter, even as Prime Minister Mariano Rajoy’s government raised taxes, cut spending and pondered whether to snatch a eurozone rescue line.  Among workers aged 16-24 the jobless rate towered at 52.34 percent in the third quarter, only slightly down from 53.27 percent in the previous quarter, the institute said.  After more than a year of recession, the soaring jobless figures and biting cuts have prompted growing street protests.”

http://www.rawstory.com/rs/2012/10/26/spanish-unemployment-tops-25-percent/

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Nigel Farage: We Are Headed To A ‘One World Government’

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“We’ve reached a point in this where, despite the massive economic the massive economic, political, and social problems that exist within the eurozone, and indeed an argument that the North and the South of Europe are diverging by the day, despite all of that, the political class have got so much the upper hand in Brussels, that, actually, they are moving to more and more extreme tactics. (This is being done) to lock countries in to a new form of government which is so far removed from any concept of liberal democracy that I think it’s quite frightening.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/24_Nigel_Farage_-_We_Are_Headed_To_A_One_World_Government.html

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/10/25_MEP_Nigel_Farage_files/Nigel%20Farage%2010%3A25%3A2012.mp3

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Greek government loses track of, asks again for stolen Swiss account data

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“Greece has asked France to re-send it a list of Greeks with Swiss bank accounts, Finance Minister Yannis Stournaras said on Wednesday, after an original list delivered in 2010 apparently went missing.  The list was originally acquired from France’s then finance minister Christine Lagarde two years ago and is part of account data leaked by an HSBC bank employee in Switzerland.  The first recipient of the data, former finance minister George Papaconstantinou, on Wednesday told a parliamentary committee that he did not know what had happened to the original version.”

http://www.thelocal.ch/page/view/greece-hones-in-on-swiss-account-data

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Secession Fever Sweeping Europe Meaningless Without Debt Repudiation

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“It is time for the restoration of formerly independent countries, each with their own unique cultural and ethnic heritage, that were forced at gunpoint into larger empire states. Venice wants out of Italy, Catalonia out of Spain, Bavaria out of Germany, Scotland and Wales want to leave the United Kingdom, the Flemish want out of Belgium. Even Vermont and some in the South want to regain their former status as sovereign republics separate from the most debt-ridden empire in world history, the U.S.  Just as important, Greece, Italy, Ireland, Spain and Portugal – with demands in Germany itself – want to leave the EU and euro witches’ brew created by their leaders.”

http://www.thedailybell.com/28196/Ron-Holland-Secession-Fever-Sweeping-Europe-Meaningless-Without-Debt-Repudiation

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