Telegraph international business editor now Communist

Post Reply New Topic

Ambrose Evans-Pritchard, International Business Editor for the Daily Telegraph, had this to say about the Greek "bailout" on his Telegraph blog.


"... I don’t think the fiscal squeeze of 16pc of GDP being imposed on Greece — without off-setting monetary or (internal EMU) exchange stimulus, and with a further accumulation of debt to 150pc of GDP — will lead to a stable Greece. It will destabilize Greek society.

It is an evil policy. Greece is suffering the entire burden of adjustment: the banks are being entirely bailed out. Our sympathies should be with the Greek people.

It is enough to turn me into a Communist."

As this is what is being planned by the masters of world capitalism I think it's time to join the party.

In my uneducated opinion, they should just kick Greece out of the EU.

Greece's terms under which is borrows has deteriorated during this manufactured panic - many countries have worse debt to GDP ratios but these deteriorating terms serve to make things worse and worse, a snowball effect. Then they demand deflationary policies that would make Greece even less able to pay. I don't see why they this manufactured panic couldn't have been stopped before it started - that it happened has to do with the pro-deflation neoliberal mindset running the EU, its institutions, and the global financial structure in general. The irrational "market" is seen as a strict schoolmarm whipping bad kids, imposing discipline, which is always deflation and privation which is bad for the economies of these places. It's the encouragement of bad policies by these crazy people.

Never forget that deflation brought Hitler to power.

Had they let Greece alone it could have gone into growth and with it improve its debt to GDP ratio. Instead they are ordered to do the opposite - shrinkage with worse debt to GDP ratios.

Dictatorial rule in Germany started under Chancellor Brunning and continued under the other pre-Hitler chancellors. It was called presidential rule. The mechanism used was to pass a presidential decree over the will of the parliament and then invite parliament to pass a law undoing it. The second part was to dissolve parliament whenever it did undo it. The example was set in 1930 and the Social Democrats suffered heavy losses in the next election to Nazis and Communists. As a result, the Social Democrats did not vote to undo the austerity bills after the government passed the decrees knowing this would cause another election and more losses.

The whole setup with Hindenberg and the decrees is not unlike Yeltsin's second term run from the sanitarium.