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Quantitative Easing versus Austerity – which one wins?
international |
anti-capitalism |
opinion/analysis
Thursday November 11, 2010 23:44 by Luke Eastwood
Two very different methods are being employed to deal with continuing recession and debt, with possible dire consequences for the world economy. The recent decision by the US Federal Reserve to print an extra 600 billion dollars has sent shock waves through Europe and Asia. Meanwhile Ireland is set to slash 6 billion euro in its December budget – an attempt to reign in the national deficit. America’s quantitative easing strategy strongly conflicts with Europe’s solution to deficit (austerity) and begs the question who is making the wrong decision, who is going to emerge the winner? |
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Jump To Comment: 1 2 3' If stupidy got us into this mess, then why can't it get us out ?'.
Looks more and more like a re-run of Weimar economics; beggar ALL your fucking neighbours cos your falling off your high horse and you can't stand to see any replacement (China now, Paris/London/Washington then).
History indicates they wont wake up till they pull the house down again. But maybe thats whats needed before we reform our whole valuation system.
The current accounting is founded on centuries of theft, bloodshed, swindle, war, dog-eat-dog competition.Maybe we can't evolve past our canine/simian instinctual-competitive animality and recognise co-operation as a healthier foundation for a more social commerce till we've exhausted the bucket of bestiality altogether. They aint learnin, and it gets more blatantly obvious by the bulletin. Them squirrels want everybody's fucking nuts in their vaults.
Globalised Haiti, anyone?
You don't have to roll over and accept cuts! Fight back! In Bolivia private companies are being seized. Taking back their natural resources! Now why won't Labour ask for such a mandate from the electorate? The SP and other independents will. But will the PBPA put forward Socialist demands?
Bolivia defends seizing foreign energy firms
Bolivia's government has defended its policy of nationalising companies that it says are vital to the economy. Businesses in the energy sector have been seized by President Evo Morales's left-wing administration.
It follows a trend started by Venezuela's president Hugo Chavez, who has called on all Latin American nations to follow his lead. Bolivia's government has said it is redistributing oil and gas wealth to the country's indigenous population.
In May 2010, four electricity firms, which between them account for more than half of Bolivia's electricity market, were expropriated.
"We're just fulfilling the promise we made when we were elected, to recover all these areas that were in the hands of the state before these privatisations", Vice President Alvaro Garcia Linera told the BBC World Service.
It has taken Latin America a while to get a grip, and they had the Chicago Boys imposing the IMF formula for a while before they got the current set of experiments together. Once Bolivar(2 centuries back) elbowed Spain out, the gringo gardener up north, with considerable assistance from Britannia and other European vampires, kept the arsito landlords under their thumbs, despite intermittent attempts at autonomy. The Euro fringe is still dazed and confused and unaccustomed to challenging its benevolent masters who have maintained them on the crumbs of global pillaging down the centuries. Too many people think this is going to be solved by breaking a few windows. The roots are deep. If it is suddenly up-ended, be very wary of what replaces the status quo.
But I agree that Latin America over the last half-century is the place to look for lessons as to what is going on here at the minute. I'm not sure you realise just how conservative(and thoroughly indoctrinated)Paddy is though. Look at the continuing deference to the Rome. I would suggest a ten-year rather than a ten day forward planning scope.
We cant move here till conditions are ripe in the US and in other continental countries. But dont forget there will be external vultures as ready to scavange on the mess as were Washington and the other imperial centres when Bolivar booted Spain out.
We move unilaterally and we get the Castro treatment. The Irish people are not yet ready, they are still horrified and transfixed by the sand running through their fingers and the prospects for themselves and their kids. And as the current Phoenix cover puts it, we '..aint seen nothing yet ! '.
Somebody else said ' When all else fails to organise the people, circumstances will'.As the girl guide said, bi ullaimh.