Comments by "Xyz Same" (@xyzsame4081) on "Bloomberg Television"
channel.
-
2:32 320 billion Euro debt, that is 320,000 millions - 10,8 million people * - so that's roughly 30k per citizens which would not be that scary in a strong economy. In Greece it is around 180% of GDP - the GDP has been SHRINKING since 2007 !! - maybe some small growth last year.
They also had DEFLATION.
Well done TROIKA, EU, Germany with a colluding IMF - ruining such a small economy. But then the other small and struggling economies would ask for their Marshall Plan as well, the wealthy nations would get ideas, too.
The elites would end up with a quite uppity plebs, that does not accept the master/subverient game of the 19th century anymore.
The numbers show a loss in population of around 0,4 % per year in the last few years, so 40,000 people per year (it started with 2011). - so 200 - 250,000 people. Does not sound that dramatic, but when that might be more young people leaving.
Maybe even some Greek pensioners, they might do better in countries like Thailand with their 700 Euro pension than in Greece. Which means they will come back when they need healthcare but spend the little money into another economy as long as they live elsewhere.
8
-
6
-
Merkel and her gang are fucking morons - and they (the Germans, and the rest of the neoliberal cabal) risk, literally risk the EU, the EURO. Under their "watch" Europe becoming more and more far right and rightfully negative about the EU.
Germany got bullied over debt in the 1920s, all of Europe did austerity after WW1, and again after 1929. The situation was worse in Germany and Austria because of high war reparations (and economic sanctions).
Especially France relentlessly demanded payments (Britain would have been more reasonable, after Germany had been eliminated as competitor).
That laid the grounds for the rise of the Nazis (French invasion in the Saarland to enforce the payment of reparations in the mid 1920s). Ongoing depression in Germany - rise of the Nazis.
The U.S. did not have that much open economic struggle after WW1 (ever rising productivity, but the gains not shared with the workforce, so stagnant wages, and trouble for the investors to find productive investments - meaning producing something, the consumers did not have enough purchasing power to keep up with the industrial output. Which got them to the idea to speculate on the stock exchange instead. There are similarities to the build-up to 2007).
After 1929 the U.S. got into major trouble, too. In 1933 FDR got into office and pushed !! the U.S. to the moderate left. (against substantial resistance of his own party. But he was a very unusual figure, he actually intended to make good on the campaign promises and strongarmed the representatives in Congress that had a mind to not vote for the unheard of proposals. And he tried things out (we can always tweak a program or try something else if it does not work). And was willing to listen to economists outside the mainstream - like Keynes. The mainstream guys had messed up roayally after all.
(Some more similarities to what our situation would require).
The Left and the unions had rosen from the ashes after 1929 (they had been beaten down by the robber barons before - one of the many occasions in the labor history of the U.S.). The left and far left quickly became very strong, in the U.S. enough of the rich thought of the Russian Revolution in 1917 and decided that FDR as moderate leftie was their best shot.
That is why the U.S. did not go the fascist route. There were tendencies, even Nazi groups and promoters - but the improving economy kept such groups at the fringe.
But most of Europe went to the right even the fascist route - a few to the left.
5
-
Greece has 10,8 million people and was hanging in the ropes. (Again: in 2009, in 2011, in 2015, in 2016, in 2017 - sometimes it was a big row, or they got more EXTEND AND PRETEND loans, new loans to pay for the old loans, and ever more crippling austerity, to satisfy the EU elites - Germany's warning to other nations, and Greece as neoliberal petri dish)
4
-
3
-
2
-
1
-
1