Posts Tagged ‘austerity’

Class warfare in Europe is getting ugly #noausterity

Posted: 2015/03/18 by Punkonomics (@dearbalak) in Links/Articles/Video
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via Costas Lapavitsas: The Syriza strategy has come to an end.

Tariq Ali said about this development:

The Troika decided today to debar Greece from going ahead with its anti-poverty projects. The Euro-elite is determined to use its economic muscle to humiliate Syriza politically. The response can only be to fight back, taking the people into confidence and a referendum. But till then capital outflows have to be stopped. Costas’ interview is very strong. There is no alternative left and capitulation must be unacceptable to a large majority of the base and one presumes the leadership.


Note: The term Troika, which comes from the Russian meaning ‘group of three’, was increasingly used during the eurozone crisis to describe the European Commission, International Monetary Fund and European Central Bank, who formed a group of international lenders that laid down stringent austerity measures when they provided bailouts, or promises of bailouts  for indebted peripheral European states – such as Ireland, Portugal and Greece – in the financial crisis.

The Confidential Memo at the Heart of the Global Financial Crisis | VICE United Kingdom.

Beyond Deficit Scare-Mongering | Dollars & Sense

Posted: 2013/07/02 by Punkonomics (@dearbalak) in Uncategorized
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Whose Housing Recovery? | Dollars & Sense.


Jesse and I chatted about some of the exciting things happening lately. Here are the notes i mentioned having on the show… which we didn’t exactly follow of course ;)

  • I mentioned my post (June 21st) where I spewed the following witticism in response to this whole drug tests for welfare recipients BS which is so pathetically petty, hateful, and beside the point that it makes me very angry! …well, i admit that lots of things make me angry ;)

If bankers had to take a drug test before getting THEIR welfare (bailouts, tax cuts and loopholes, etc etc) we would not be in a deficit >:/

    • The good old American tradition of hating on the poor
    • 25% of children in the US today live in poverty (currently $23,050 total yearly income for a family of four!)
    • This also has a racist dimension: what people like Paula Dean and several Supreme Court justices would call “lazy poor n___”. man this shite makes me even angrier!
  • Latest salvo from the class-wars: Student loans are set to double next month to 6%
    • Hurrah! Fear not! Conservatives have a wonderful solution to the cost of education and opportunity that hearkens back to those good-old-days of the 18th and 19th centuries: Rich people (the 1%) will pay the educational expenses of selected regular people (the %99) in exchange for owning a share of their future income! YES YOU HEARD RIGHT! Indentured slavery is back!
  • On the bright side:
    • Some people are NOT taking this shite like we do (taking our happy pills and watching mind-numbing TV and superhero movies), THEY are out on the streets raising hell by the millions against socially-conservative corporate kleptocratic crony-capitalism in Turkey, Brazil, Egypt, and other places.
    • They are rallying against the destructive class-war fake economic idea of budget cutting when the economy is down and millions are unemployed with little or no economic opportunities: aka austerity that has already destroyed the Greek economy (even the IMF all but admitted it).
    • This is especially criminal when vast amounts have been transferred from the public to the %1 since they crashed the economy in 2008. The total numbers are many times larger than the budget deficit all the fake hysteria is about: $6-12,000,000,000,000 that’s $6-12 trillion.
  • Finally: Edward Snowden the young america hero who sacrificed his ticket to joining the 1% and became a political refugee in order to tell the American people what their government is really doing in the digital frontier. This is critical since too few people realize how in a big data world, control over information is tantamount to control over our bodies: slavery!


“Chicago is bracing itself for a large, potentially disruptive demonstration on Wednesday involving acts of mass civil disobedience against the largest proposed round of school closures in recent memory.

The city last week announced plans to close 54 schools affecting more than 30,000 students, primarily in low-income black and Latino areas. The proposals, which had already sparked huge, rowdy protests at hearings throughout the city before the announcement, mark mayor Rahm Emanuel’s second major confrontation over education in less than six months, following the teacher strike in late August.

The Chicago Teachers Union, which emerged with considerable public support last year after it blunted Emanuel’s attempts to tie teachers’ pay to test scores, has pledged to engage in a campaign of non-violent disobedience to oppose the closures.”