Greece’s and the European Union’s economic and political crisis will not be resolved through a new debt deal between the government in Athens and the European authorities. It will be merely one more stop-gag “solution” to a problem whose nature is endemic to the current ideology and politics of State-Power and collectivism. Its real solution requires something deeper and more comprehensive: a revival of the classical liberal ideal of individualism and the economics of free market capitalism. This, unfortunately, is not likely to occur any time soon.
Greece is only the beginning. Greeks driven out of their country by the collapsed economy, demise of the social welfare system, and extraordinary rate of unemployment will take their poverty to other EU countries. Members of the EU are not bound by national boundaries and can freely emigrate. Closing down the support system in Greece will drive Greeks into the support systems of other EU countries, which will be closed down in turn by the One Percent’s privatizations. The 21st century Enclosures have begun.
We have now reached the point where the euro does not have a problem – the euro is the problem. De-risking it should be a priority for European leaders, as it now poses a chronic risk to global financial stability. Either the outliers need to leave or the countries inside the eurozone needs to move down the pathway to full political, economic and monetary union.
A Greek exit from the euro would change everything. The greatest change being simply doubt and fear regarding the outlook for other vulnerable EU nations, EU banks and the EU banking and financial system. We discuss short and long term considerations, best and case outcomes, and wealth preservation strategies.
Haven’t you ever sat there in hindsight, drinking history down retrospectively like an already-bad whisky that has been mixed with some equally worse soda and a couple of rocks thrown in for good measure and wondered what life would be like if this or that event hadn’t actually happened?
An increasingly desperate Greek government is once again playing the war reparations card, this time by looping video clips of the Nazi occupation on public transportation (because no Greek commute is complete without a bit of anti-German agitprop). Meanwhile, Varoufakis says he wishes Greece would have never entered the monetary union.
Is it even plausible that China would go all nuke on the U.S. over Taiwan?
"...choosing to raise your children to be independent thinkers who don’t automatically want to control others by force, can sometimes lead to tension with family and friends, especially older ones. I find most of them to be just innocent victims who happily reside within the matrix, merely repeating thoughts they were subliminally conditioned to believe."
The endgame has indeed arrived. At the very least, the international elites seem to think success is within their grasp, for they now openly expose their own criminality. But they do so in a way that attempts to divert blame or to rationalize their actions as being for the "greater good." All signs and evidence point to what the IMF calls the "great global economic reset.”" The plans for this reset do not include U.S. prosperity or a thriving dollar.
Vladimir Putin holds his annual live Q&A event where, over the course of more than four priceless hours, the Russian President takes questions from across the country and discusses everything from foreign relations, to military might, to his sleeping habits, to not wanting to be cloned.
Hillary rose to fame delivering an idealistic commencement address at the beginning of her career. But like the generation she represents, she has betrayed those grand ideals over a lifetime of compromise, expediency, self-promotion and complacent acquisition of power, wealth and fame. She doesn’t deserve another stint at the podium - let alone the bully pulpit.
Is it possible that capitalism’s underlying focus on profits, and the necessity for endless purchases of goods and services, has a practical limit?
Debt, Distraction, Currency Wars, Itchy Fingers
Russia must get aggressive in the economic war. You can win this economic contest in 24 months, if certain special zones in Russia simply are allowed to copy Swiss banking rules and regulations, as wealth will always flow to secure locations where taxes are low. You know what banking privacy and security did for Switzerland, it made a poor country with few natural resources the wealthiest nation in the world.
Israelis will elect a new parliament March 17. As WaPo notes, the main contest pits the right-wing Likud party of Prime Minister Benjamin Netanyahu against a surprisingly strong challenge from the Zionist Union, a center-left political alliance led by Isaac Herzog of the Labor party. Polls place Herzog's bloc ahead of Likud, but that's no guarantee of victory. Since Israel's first election in 1949, no single party has ever won an outright majority in the 120-seat Knesset, the name for the Israeli parliament. That means smaller political parties -- and there are 26 in total -- play a significant role in shaping the ruling coalition that forms the Israeli government after the ballots get counted. There appear to be three main scenarios for Israel's next coalition...