The Troika is comprised of the Eurozone, the ECB (European Central Bank), and the IMF (International Monetary Fund). Massive collusion between the three resulted in destruction of the Greek economy and no chance to recover from it due to the onerous terms of the agreement. Note there was resistance within the IMF to what the EU intended but the video documents how and why it was ignored.
Perhaps you consider 'massive collusion' to be an over-statement but more than 90% of the billions sent from the EU to Greece as a so-called assist for the Greek people went, in fact, to French and German banks in Greece which had extended what have been termed 'sub-prime loans' to the Greek government which was known to have little to no ability to repay the money. Hardly any of the money sent to Greece went anywhere near the Greek people.
The premise is documented by the research presented in this video and also by that of Die Anstalt, presented previously, which corroborates every word of it and which was researched by and developed by an independent source.
This is important work due to the conceptual flim flam surrounding growing economies in that the prevailing philosophy in the West is the idea that austerity will reduce government spending thus permitting the business world to grow unencumbered by burdensome taxes, etc, etc. We've heard the pitch many times.
However, the actuality of it in practice is nowhere more evident than what has happened to the southern countries of the European Union, most particularly Greece, which, if you'll forgive a bit of CNN style, was gang-raped by multiple countries, only in part through massive arms sales to Greece during the same period it was breaking down. It's not a question of whether Greece has a submarine but rather how many. Now perhaps you ask what the hell Greece would do with a submarine.
The Greek government is not blameless and is really guilty of unbelievable stupidity but that's been attributed as the sole source to the collapse of their economy and whereas the larger dimension of it is that, as documented thoroughly in this video and that of Die Anstalt previously, more powerful nations gathered around in a blood feast to drain the country before it died altogether.
The fundamental flaw to any austerity program anymore is that an economy can grow by reducing spending but obviously it can't as no money is being spent and thus jobs disintegrate because there is no need for them to make the products people can no longer buy.
I despise purple journalism so you can take as you will presentation of this material. What I can tell you is that it's meticulously researched and the journalistic standard in this and Die Anstalt has only one peer in U.S. journalism: John Oliver. No-one else researches much of anything and frequently 'journalists' copy content from one news release to use in their own without any validation.
At last report, there were 46.5 million people on SNAP (i.e. food stamps) in the United States. If you call it ten million people in New York City, that means you could stretch that megalopolis to Washington, D.C, and every single person in it would be hungry. Some call that recovery but I view that as utter rubbish and the video along with Die Anstalt document the patent falsity and cynical administration of austerity programs.
As with Greece, the GOP blames all the problems of the poor on the poor but "On the Trail of the Troika" goes into considerably greater depth on how the poor got that way and why they stay that way. Greece is far from the only country in the world being looted.
This is important work due to the conceptual flim flam surrounding growing economies in that the prevailing philosophy in the West is the idea that austerity will reduce government spending thus permitting the business world to grow unencumbered by burdensome taxes, etc, etc. We've heard the pitch many times.
However, the actuality of it in practice is nowhere more evident than what has happened to the southern countries of the European Union, most particularly Greece, which, if you'll forgive a bit of CNN style, was gang-raped by multiple countries, only in part through massive arms sales to Greece during the same period it was breaking down. It's not a question of whether Greece has a submarine but rather how many. Now perhaps you ask what the hell Greece would do with a submarine.
The Greek government is not blameless and is really guilty of unbelievable stupidity but that's been attributed as the sole source to the collapse of their economy and whereas the larger dimension of it is that, as documented thoroughly in this video and that of Die Anstalt previously, more powerful nations gathered around in a blood feast to drain the country before it died altogether.
The fundamental flaw to any austerity program anymore is that an economy can grow by reducing spending but obviously it can't as no money is being spent and thus jobs disintegrate because there is no need for them to make the products people can no longer buy.
I despise purple journalism so you can take as you will presentation of this material. What I can tell you is that it's meticulously researched and the journalistic standard in this and Die Anstalt has only one peer in U.S. journalism: John Oliver. No-one else researches much of anything and frequently 'journalists' copy content from one news release to use in their own without any validation.
At last report, there were 46.5 million people on SNAP (i.e. food stamps) in the United States. If you call it ten million people in New York City, that means you could stretch that megalopolis to Washington, D.C, and every single person in it would be hungry. Some call that recovery but I view that as utter rubbish and the video along with Die Anstalt document the patent falsity and cynical administration of austerity programs.
As with Greece, the GOP blames all the problems of the poor on the poor but "On the Trail of the Troika" goes into considerably greater depth on how the poor got that way and why they stay that way. Greece is far from the only country in the world being looted.
3 comments:
Greece us in this position because Greece lived in never never land Living a lifestyle they could not afford Now it is everyone elses fault when it is time to pay it back.
Economics is simple spend less than you make.
And you will never have to worry about the money lenders
And yes the Troika is very similar to Cash Advance once you do business with them you are screwed for life.
And government spending can not generate a lasting economic recovery Jobs must come from the private sector to be real The spending must be from the private sector in the from of capital improvements
The government is just meant to create an environment to allow that to happen.
And the problems of most of the poor result from themselves. When I was poor, I didnt ask the government to take care of me. I got a second job I did not worry about the wage but whether or not I came home with more money than I left with If so the I was making progress
On an individual basis, all this is true. If you fall down then get your ass up. However, manipulation of populations is a different thing. If you'll check the video you'll find a whole lot of people wound up poor through no fault of their own. There really is a gigantic bank fraud taking place and they have all the documentation you could want to prove it.
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