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IMF, Osborne, UK Austerity, UK crisis, UK debt

The brewing perfect storm, IMF, Osborne’s threat-cocktail and the UK-version of Greek Debt Crisis

George Osborne’s recent warnings of certain threats that the UK is facing in 2016, stirred a noticeable media-attention. Yet, those who would be interested in the whys, are presented with a mere cocktail of contradictions and fear-mongering. Despite the best efforts of a Guardian article we are left without the actual explanation why Osborne’s cocktail of threats and why the crisis in the first place.

The author of above Guardian post only tackles the surface of the reasons, without revealing them in full.

  • The chancellor claims Britain is “living within its means”, but our borrowing from the rest of the world rose to record levels. We have to borrow because we buy far more from the rest of the world than the rest of the world buys from us. And because we’ve borrowed so much money, and sold off so many assets, the payments due to the rest of the world are astronomical. We are borrowing more from abroad than any other developed economy.
  • No, Mr. George Osborne. You ‘have to’ borrow only because that is the diktat of IMF. And because your bosses sitting in New York and Washington decided to push the UK onto the path of Greece. And UK’s record-high levels of borrowing is due to the fact that IMF started to dictate such policy for the UK a while ago.

First of all, there is a big contradiction there to begin with: “living within means ” contradicts the practice “to buy far more from the rest of the world than the rest of the world buys from us”. That is to say, Osborne is already accusing UK as a whole, of living beyond means.
Second, the idea of “a country living beyond means” was exactly the main false accusation – and shift of blame – in the original poison-cocktail that was forced down the throat of Greece.
Third, if any government lives beyond means, as the UK government does – by spending all available funds on private luxuries and expensive wars – that makes a corrupt government rather than an overspending country.
Fourth, at present all countries are facing the same banal accusation, since all of them are in deep debt. Then which country is the “rest of the world”, that is the one that all other countries are buying from? China? Then how come – as it is pointed out elsewhere – that China is also facing the imminent threat to slip into crisis?
Fifth, as one of those who ‘suffer from’ lack of amnesia, I still remember the occasion when Osborne and Lagarde – during one of those cosy gatherings of tycoons, bankers, politicians, etc – began to weave their debt-austerity web over the blue skies of Great Britain. I took a snapshot of the then-headlines to preserve the story for the next generations.

  • The short demonstration of the scheme between IMF’s Lagarde and a country representative like Osborne is presented here.

Mind-boggling cocktail of threats and a system designed to fail

In another Guardian post a mist of mystery is wrapped around the state of world-economy: “On the face of it, there seems no reason why the global markets should remain depressed“. Yet, so we learn, the global version of the “threat-cocktail” includes the possibility of a sort of world-end scenario: “the World Bank warned that a “perfect storm” might be brewing“.

Curiously enough, as it is implied in the title of above Guardian post: “tumble back into crisis”, we must have gone through a boom-stage (just failed to notice it), hence the projected crisis ahead is something anew. But as usual, rather than pointing at the solution for the crisis, a well-trained analyst is supposed to present a yet another handy-dandy alibi for the lack of solution. The eternally frozen global stagflation is explained away via mambo-jumbo about interest rates, stock-exchange, oil price, China, Iran, Russia, North-Korea, Chechen Mafia, Assad, ISIS, Syria, then Assad again, and overpaid gay pirates sailing around the Bahamas – you name it.

Parts from yet another, much more outspoken Guardian-analysis: “Britain’s economy is, in part, a helpless cork adrift on stormy global seas – though it’s worth reminding George Osborne how often he blamed Gordon Brown personally for the greatest postwar global crash. Look how shamelessly he now calls any economic trouble “global” while any success is his own.
Right on. The most typical blaming-scenario is when a country-leader shifts the blame onto another one from the past, most typically onto someone from the “opposition” camp. The author does mention some of the blatant contradictions in Osborne’s twisted rhetoric, but remains oblivious as to the real reasons of Austerity – the designed crisis itself – and fails to point at the actual route to be taken towards Recovery.

Probably the most laughable attempt is when the crisis-makers blame the crisis on the so-called “boom and bust cycles” of capitalism. Firstly, ever since the beginning of present crisis, the economy showed no sign of ‘boom’; it is but one busted free-falling curve into the abyss. Second, the phenomena that might resemble ‘boom and bust cycles’ are experienced only by the elites, who do not work for their living but win their “incomes” by gambling on the financial or the stock markets. Or by the “bankers” who enter $ digits into their computers in endless quantities, and from these digits they buy whatever they wish. These parasites, sucking the blood of the production-sphere, are only experiencing a long-term boom-curve, meanwhile those who earn their income by actual work in the production- sphere, can experience only crisis: falling wages, rising work-hours, rising unemployment, rising prices, disappearing welfare and dismantled public services.

Third, you just have to love it when capitalists are blaming capitalism for the crisis that capitalists create.

  • Because the one single genuine reason for the global crisis is the lack of will and lack of appropriate action of the country-leaders to turn the trend around via proper fiscal and monetary policy.

For heaven’s sake, it must be crystal clear why there is crisis in the UK and in the West in general. Because financing is a world-monopoly of the unelected Fed, IMF, World Bank and ECB, who appointed themselves to decide on what countries, continents and what sectors to finance, and they stopped financing the production in the Western sphere. Instead, whenever they “invest” in a country, it is merely for the purpose of “smash-and-grab” agenda to indebt governments which has many goals make the unsuspecting citizens responsible for the debt they never endorsed and never benefited from. For this unholy purpose the banks behind private organisations like the IMF issue new money, several monetary billions/trillions, every time when they extend “loans” to corrupt governments. But these governments do not invest these “borrowed” funds in domestic production. They use it for private riches, wars, police forces, and for privatisations, ie, for fire-selling and buying the publicly owned values, lands, businesses, resources, etc. It is equally possible that these governments might invest these “borrowed” funds in other countries and continents, such as China and Asia. Who knows?

In their desperate attempt to cover up what’s going on, the capitalist class managed to sink as low as making use of the knowledge they acquired from the critiques of capitalism. So whenever they pull the strings in order to trigger or intensify the crisis, they make the outcomes of their work appear as a series of incidental catastrophes inherent in the crisis-generating flaws of capitalism. Sometimes the elites go as far as to admit the half-truth that the non-random derivative, no-value representing fictitious financial transactions are not exactly beneficial to economy. However, what they are silent about, consistently and permanently, is their most scandalous scam, by which private banks are producing phantom $ trillions from fairy dust – by their finger-exercise of entering the respective digits into their ledger – and they demand real values in exchange for such fairy dust $ trillions.

If anyone had a shred of doubt that the case of Greek-debt crisis is not a Greece-specific story but a globally unfolding financial war, such doubt is expelled when we look at the list of the IMF-debt by countries. Or when we take a look at UK’s debt: at present it is over £ 1 trillion and counting, increasing with every nanosecond. Those who are still in doubt regarding the foul play, may want to read a recent research uncovering the criminal background of the IMF executives. The fact that a Western super-power like the UK, or Belgium, the country in the very epicentre of EU, are in higher debt than ever, might also offer a clue. Of course, the bank-owned mainstream media consistently keep the debt-austerity targeted countries in division, isolation and under deception. Unaware that the same criminal process is going on on global scale, the citizens of each country are made believe that they are responsible for the alleged “overspending” of their country, hence they fail to identify the common origin and nature of the problem.

The hidden, main question is of course: why on earth would the elites gear economy towards Recovery? In other words, why would these banks and governments opt to undo their global “smash and grab” neoliberal heist, which they have planned and executed so successfully? Why would they start gearing the economies to recovery after they deliberately pushed these economies into crisis?

By now only the very deep sleepers could dodge the fact that all forms of wars and crises are parts of a much greater agenda pursued by the global alliance of capitalists. The only difference we can spot between the present and former forms of the crisis is in the mainstream rhetoric about the excuses, explanations, rationalisations of the crisis. A few years ago the number of the word ‘crisis’ printed in media exceeded the number of comas and connecting words, whereas recently we are presented with an odd pessimistic-optimistic mix of having a crisis, yet not having one.

  • So let’s be perfectly clear on this and call the spade spade: the localised versions of the global crisis – in either UK, Greece, Spain, Belgium, Ireland – are not manifestations of inherently economic issues, but different variations of the same theme, with different “stories” attached to the same scheme.

Reading between the lines: the next IMF-scheme is looming

However, if we wish to take a glimpse into the actual future, we can do so – after pulling a sizeable bucket by the chair – by examining George Osborne’s year-end and year-starting statements on  his  Twitter timeline. Osborne’s utterances reflect either an unstable mind or someone with a dubious agenda. His language is evidence that the elite classes have really perfected the devious art of saying x while they are actually saying -x.

As one of those who suffer from lack of amnesia, I still remember the occasion when Osborne and Lagarde began to weave their web of debt and austerity over the blue skies of Great Britain.

But George Osborne, who generated a significant portion of UK’s forever-rising debt, is conveniently ignoring the fact of UK’s forever-rising debt. On the face of it, everything seems honkey-dory. As the timeline is approaching old year’s holiday season, Osborne is delirious. He is echoing IMF’s praises of the UK economy: employment is record high and deficit down. For a moment we experience the miracle that amidst UK’s worst economic turmoil since WW2, the UK economy achieved nirvana. But when we look again, we realise Osborne is re-branding the bombastic failure of UK’s 2015 economy as ‘bombastic success’.

Meanwhile Osborne’s timeline is hailing IMF and Lagarde’s leadership. Their duo is indeed a match made in heaven, and that is all that matters. Never mind that – thanks to the IMF-imposed razor-wheels of Austerity, Cuts and Privatisations over the UK – large masses are starving and end up homeless. Osborne, who is responsible for such atrocities, is rejoiced over these “achievements”. In addition, we can learn from Osborne that the UK government is an affiliate of IMF and the US. Anyone who thus far denied the fact of secret agreements among all countries to follow the same route, may want to research the Washington consensus. Then they may start to wonder, if there is no such thing as conspiracy among elected governments on a globally uniform economy-busting policy to implement, then why on earth would the US be interested in UK’s domestic affairs? Why else would the US Congress rejoice over the fact that Osborne has agreed to slaughter UK on the IMF-altar?

Nevertheless, as we depart from the old year’s champaign-popping cheers, the New Year starts with a sudden shift into sobering cacophony. Mission is not accomplished yet, warns us Osborne; there is a cocktail of threats that UK is facing, but the ‘reasons’ we are presented with – as always – remains a cocktail of mysteries and threats. We can only guess what the real threat means in their mind. Not all of UK is owned by their global banks (yet) – there are still  remnants of UK’s democratic institutions. But once the ‘threat’ of democracy is removed from the way, all of UK will rise to “paradise”, exactly like Greece did. The mission will be achieved only when feudalism as such is reinstated in full scale, when every inch of the country is privatised by the lords, and when indeed nothing else remains in society but lords and their serfs.

So, upon the IMF command, Osborne promises to continue the Greek crisis-cocktail: austerity, cuts and debt-accumulation, and since Osborne projects the ‘predicted’ disaster for 2016 that he is preparing for UK as ‘guaranteed success’, 2016 might be the year when the IMF-backed banks are planning to annex the whole of UK under a perfected state of neofeudalism.

Thereafter, without no detectable reason, Osborne’s timeline suddenly starts hailing the UK Police Forces and we can read Osborne’s generous promises to allocate more funds to them. Osborne, and his boss Lagarde, are apparently aware that the continuing austerity-policy will soon invoke UK-wide discontent and unrest, especially after Westminster demolished NHS and all the remaining public services. Hence the elites’ intention to reinforce the police state, which they find necessary to sustain the predicted cocktail of catastrophes.

The big picture in front of our eyes

Unsurprisingly therefore, those who are aware of the actual story regarding the reasons for the ongoing crisis both in the UK and on global scale, really need a large bucket to handle the official narrative.

  • In reality the one single actual reason for the global crisis is the lack of will and lack of appropriate action of the country-leaders to turn the crisis around via proper fiscal and monetary policy.

There is no reason for the economy to be depressed anywhere; not now, and not ever. The New Deal is empirical evidence that Government intervention is key to a functional economy. When there is a democratic Government observing the needs and demands of the 99% – without the Capitalist bribery and control above the elected bodies – even the dysfunctional and inefficient free-markets can be regulated towards Recovery. If the Great Depression could be turned around via the appropriate economic policy, the present recession could be reversed overnight. Instead, the country-leaders have been persistently pushing the West economies onto a declining curve for almost a decade now, and there is no sign that any actual step is taken towards actual Recovery. Only lip-service, and even that is filled with contradictions.

We have heard the insane fiction, echoed by the bank-bribed brigade of charlatan “technocrats” and treacherous politicians, how the Economy-busting, Debt-boosting Austerity will boost the Economy and bust the Debt. Thereafter, when the Economy-busting, Debt-boosting Austerity, as any sane mind would expect, busted Economy and boosted the Debt, the resulting crisis was blamed on those who suffered most under the Crisis.

But we have seen it all over again how it is in reality. The actual order of cause and effect is the exact opposite of what these banks and their mass-media present to the public. It is not our low productivity and overspending that generates the crisis, but the very policy that all IMF-puppet governments impose on our countries. Whenever IMF, World Bank (or their European equivalent ECB) set foot in a country or continent, that country or continent is flushed down the drain. After destroying and becoming owners of the 3rd world, the US and IMF-backed global banks successfully enclosed Ukraine and Greece, meanwhile they simultaneously target all countries all over the West via the same scheme. Within the EU the process is much simpler than outside. Outside the EU a Government has a slight chance to say no to IMF – and Iceland did say no – but within the EU, all EU-states are obliged to obey the diktats of Brussels. And it is one of the primary diktats of EU that each national government is obliged to enter the same debt-generating IMF-corruption that has led to the crisis and annexation of Greece.

We have seen it all over again how stupefyingly transparent the EU-lie is. Madam Merkel, the omnipotent ruler of EU was “unable” to raise funds to rescue Greece when it was mercilessly annexed by the German “creditor” banks as collateral for the accumulated corrupt government-debts. Merkel, as a leader of EU, is evidently acting as servant of banks and corporations.

The same is true, not only regarding Merkel, but about EU en masse. We have seen how shamelessly the EU leaders blackmailed Greece’s Syriza government when its leaders attempted – or pretended to attempt – to rescue Greece from the ‘bankruptcy’ that the Troika and the corrupt Greek governments imposed onto Greece. But Madam Merkel and her EU, who were ‘unable’ to raise funds to save Greece – an EU-state – from the predatory claws of the Banks’ mega-corruption, have been able to raise endless funds to open the borders of Europe and sponsor an endless flood of mass-immigration into Europe.

EU’s “refugees welcome” propaganda is an especially nauseating factor in the socio-path cruelty of the global neo-aristocracy. What can infer from the elites’ relentless propaganda to encourage a global mass-migration amidst an austerity-package imposed on all countries, is their agenda to eliminate all nation states, to remove all elected governments, to reduce the planet’s population via artificially induced abject poverty and to mix the few survivors (slaves) into one global village. Then – as it is projected in Agenda 21 – to lock them into strictly controlled mega-citices. Under a worse-than-Orwellian system of “security” marked by DNA-tracking, bank-account control and mass-surveillance.

  • Another important note: when the Western elites bomb and impoverish the 3rd world, they do kill many birds with one stone.  They invite the war- and/or poverty-survivors into the West, so that a minority of the 3rd-world migrants would work as slaves for the Western corporations, while the majority of them can die as victims of austerity – along with the native Western tribes – without job and welfare.

Fool me once, shame on you; fool me twice …

When after the long streak of bribery and corruption that destroyed and allowed the banks to own the 3rd world, IMF targeted the first 1st-world victims: Greece, Spain, Portugal, they pushed these countries, with the assistance of their corrupt governments, into debt and permanent economic downturn. The ‘explanation for the crisis’ was the usual reversal of cause and effect: those schemers who triggered the crisis, blamed the unsuspecting hard-working citizens for the crisis. IMF and their phony economists slandered these nations via labels of “laziness”, irresponsible overspending aptitude, and lack of productive strength. The elites went as far as attributed these assumed “character-flaws” to the overheated climate of the crisis-countries. Meanwhile, when the North-located Ireland ended up in the same debt-gutter as their South-European companions in distress, the financial elites, unable to apply the same geographic, anthropological, ethnographic explanation to the Irish debt-crisis, conveniently abandoned the original narrative.

One can really start wondering what sort of odoriferous alibi the IMF and accomplices shall construct now when a Western super-power like the UK, or Belgium in the very epicentre of EU – both located in a bloody cool climate – are in higher debt than ever. And how will these governments keep justifying austerity after the decade-long crisis they triggered via austerity? How long can they pretend that they are trying to eliminate the effects of austerity by imposing more austerity? Mind-boggling.

Paul Krugman, Nobel Prize laureate in Economics also takes the stance that Austerity shrinks economy at an exponential rate. Stanford, Harvard, Yale -trained distinguished Professor of Economics, Richard D. Wolff explains how Austerity shrinks economy and how it eliminated the middle class in the US. What they say is exactly what we can see in front of our eyes. What else is needed?

After the decade-long crisis the elites have left the world without any detectable attempt to effectively address this ongoing issue – to the contrary they keep making it worse. I do wonder, how much more evidence we need in order to get in touch with reality and start seeing how we are being lied to and robbed blind. The difference between the past and present oppressed populace is that the contemporary surfs are proud of their serfdom. The present serfs feel to be very clever, smart, strong, apt and fit while being duped to the level of vegetation. Mind-boggling.

We might wonder as well, would it shake society out of the catatonic zombies’ coma, if they learned that
– the IMF-brigade – who are the effective owner-candidates of the world – is a group of individuals with criminal record
– whatever is claimed to be “saved” by measures like austerity is the fake money some privileged individuals enter on PCs when “giving loans”
– privatisation, austerity and cuts are there only to multiply the countless monetary trillions these tricksters already stole from the world
– the purpose of blaming governments for the crisis is only to demolish the public sphere, to do away with remnants of democratic institutions and governments, since only real democratic governments can pose obstacles to the free-riding savagery of the contemporary lords.

And the questions just keep rolling, one after another. How much longer can the society of proud Libertarians and corporate mugwumps be duped via the non-aggression principle, which principle allows all forms of aggression for the aristocracy to grab all financial and natural resources, meanwhile disallows it as “theft” when society attempts to restore justice by at least taxing these predators? How long can the useful “right-wing” idiots be seduced by no-free-lunch flimflam preached by the top free-lunchers of the world?  How much longer can the world be kept under media-anaesthesia while they are being shortchanged by endless repetitions of the same con-tricks? How much longer shall we tolerate the ongoing financial heist (in fact conquest or war) carried out under the hoax of ‘austerity’, ‘bailouts’ ‘debts’ and ‘privatisation’? How much more can we take of the deceptive nonsense pouring from Lagarde and her apprentices like Osborne, and their bribed charlatans posing as “experts”? The technical term: “bullshit” is a miserably unfit term to describe the quality of their rhetoric. A properly calibrated BS-barometer would assess the credibility of their mantra via expressions like “endless flow of a sewage-mix of all sorts of foul excrements”.

Even if some, at least temporarily, fell for the bald-faced crookery-dupery of the pro-austerity orators, had to experience the diametrically opposite reality when such policy literally annihilated Greece. We could all witness how the banks that foisted austerity on Greece seized the country as their private property. Are we really at the level that we are going to endure the same stunt to be pulled in every single country? Are we really going to tolerate that those who create $ trillions out of thin air when “lend” to puppet-governments, would take over all countries of the world upon the demand that these digits are to be ‘repaid’ by those citizens who have nothing to do with it?

It has been my conclusion – as stated in several earlier posts on the topic – that it is idle to expect such thing as a “perfect storm”.  For the elites it is much safer to pursue a gradual and invisible process via the methods of austerity, debt and crisis. It is much more convenient for the elites to keep their talented serfs “motivated” while they work for their own obliteration. This gradual genocide is much more painful for the individuals when it reaches them one by one. Under austerity the victims of the scheme can be blamed rather than the schemers.

If it so happens that there will be a final collapse – as ‘predicted’ in mentioned Guardian post – then obviously the one and single cause will be the global capitalist alliance who will arrange for such “perfect storm”. The Fed, World Bank and Troika (IMF, EC, ECB) who already generated many storms over Greece, Ukraine, the PIGS countries and in many countries in the 3rd world, are certainly in the position to trigger a simultaneous meltdown all over the West – and all over the world – if they wish to. But then again, such ‘armageddon’ would be blamed on those who have nothing to do with it other than being the victims of the scheme.

The brewing perfect storm: blame it on the toilet paper

There are certain parts in the documentary “On Trail of the Troika“, whereby we are confronted with the utter absurdity of the IMF claims as the “reason” for the crisis in the debt-ridden countries.

As far as a future perfect storm that shall bring the global economy onto its knees and/or shall wipe out the bank-accounts of the 99%, we can conclude – following the ‘logic’ of the IMF/bank-narrative on the Greek debt crisis – that the ‘explanation’ for a final financial armageddon will be something extraordinary. The EU and IMF will blame those who, upon reaching the retirement age will be deprived of pension, so they will make the attempt to survive by taking up the job of operating public toilets. The decadently luxurious monthly £10 payment these elderly toilet-operators shall receive from government, as well as their odious overspending on toilet-paper, compared to the collected pennies from the occasional wanderer, and ultimately the lack of privatising public toilets will produce such an intolerable crack on the IMF balance sheet, that the issue shall call for an emergency IMF-meeting. Then, as we shall be informed, these a$$es gathering in the IMF-headquarters will do their very best to prevent the final sh*t-storm, but they will prove to be helpless.

One thing is for sure, Austerity in itself is a guarantee for a “perfect storm”. The vicious cycle triggered by the spending cuts and the cascade-effects thereof, is an accelerating hurricane that will sweep away the middle class in all countries. The facts listed in mentioned documentary – and a highly recommended interview with a leading economist – provide ample evidence, that the segment hit the hardest by Austerity in every country, is the middle class. Under the neoliberal measures, millions have lost their businesses due to the shrinking demand upon the spending cuts and rising unemployment. Hence the once-middle-class members will become the poorest among the poor: after losing their businesses they remain without jobs, without income, without welfare, healthcare and any possible means to survive. But, as pointed out earlier, the elites’ intended purpose is exactly that: to drop the middle class from the social-economic equation, so that the new feudal lords would be left alone with their serfs, without a horizontal, economically viable bulk of society who would pose the ‘menace’ of democracy to the lords’ total freedom to plunder and rule the world.

  • The only remaining question we can pose in this context: has UK arrived at the stage to realise that the only way to survive as a country is via shutting down the UK by permanent general strikes until the corrupt-to-the-core Westminster will resign, or shall we wait until the whole country will be privatised, impoverished and evacuated, ie shut down by the governments and their fellow-schemers called “creditors”?

Highly recommended sources

Conversation with economist Michael Hudson, author of the new book “Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy”
http://store.counterpunch.org/michael-hudson-episode-19-2/
Link to the book: http://store.counterpunch.org/product/killing-the-host-digital-book/
Link to the podcast: http://store.counterpunch.org/?powerpress_pinw=14287-podcast

Reaganomics Killed The Middle Class – RT interview with distinguished economics professor Richard D. Wolff
https://www.youtube.com/watch?v=ZdCNGkZoIZw

A Brief History of Neoliberalism by David Harvey
https://www.youtube.com/watch?v=PkWWMOzNNrQ

References / Related Posts

The shortest demo of the ongoing global financial fraud: phony Crisis, Debt, Austerity, Privatisation, Crisis
https://globalpoliticalanalysis.wordpress.com/2016/01/13/the-shortest-demo-of-the-ongoing-global-fraud-phony-crisis-debt-austerity-privatisation-crisis/

Is 2016 the year when the world tumbles back into economic crisis?
http://www.theguardian.com/business/2016/jan/09/2016-world-tumbles-back-economic-crisis

George Osborne’s ‘cocktail of threats’ will leave us with a hangover
http://www.theguardian.com/commentisfree/2016/jan/08/george-osborne-cocktail-threats-economy-government-borrowing

George Osborne warns UK economy faces ‘cocktail of threats’
http://www.theguardian.com/politics/2016/jan/07/george-osborne-warns-uk-economy-faces-cocktail-of-threats

George Osborne has tied a knot of fear and optimism – but is it unravelling?
http://www.theguardian.com/commentisfree/2016/jan/07/george-osborne-fear-global-storms-austerity-economic

“Has The Crash of 2016 Now Begun? What Can & Should Be Done?” – Prof. Wolff on The Big Picture with Thom Hartmann
http://www.rdwolff.org/content/has-crash-2016-now-begun-what-can-should-be-done-prof-wolff-big-picture-thom-hartmann

The Commanding Heights (interview with Michael Hudson economist)
http://michael-hudson.com/2016/02/the-commanding-heights/

Conversation with economist Michael Hudson, author of the new book “Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy”
http://store.counterpunch.org/michael-hudson-episode-19-2/
Link to the book: http://store.counterpunch.org/product/killing-the-host-digital-book/
Link to the podcast: http://store.counterpunch.org/?powerpress_pinw=14287-podcast

Talking to Paul Krugman (Harald Schumann on the trail – the complete interview)
https://www.youtube.com/watch?v=x5dk9Tlsa_4

The “Dirty Work” of the International Monetary Fund, Lays the Groundwork for Worldwide Financial Conquest
The criminal behavior of IMF executives
http://www.globalresearch.ca/the-dirty-work-of-the-international-monetary-fund-lays-the-groundwork-for-worldwide-financial-conquest/5498234

IMF boss Christine Lagarde quizzed by detectives in France over £270million corruption case involving French businessman
http://www.dailymail.co.uk/news/article-2584378/IMF-boss-Christine-Lagarde-quizzed-detectives-France-270million-corruption-case-involving-French-businessman.html

Reaganomics Killed The Middle Class – RT interview with distinguished economics professor Richard D. Wolff
https://www.youtube.com/watch?v=ZdCNGkZoIZw

A Brief History of Neoliberalism by David Harvey
https://www.youtube.com/watch?v=PkWWMOzNNrQ

The crisis could be turned around overnight. Visual demonstration on the Tory neoliberal policy versus the Keynesian social-democratic version of Capitalism:
https://globalpoliticalanalysis.files.wordpress.com/2013/11/crisis-vs-recovery-new.jpg

The great austerity shell game
http://www.theguardian.com/commentisfree/2013/nov/04/great-austerity-shell-game
Center-right governments in Britain and Germany do it. So do the center-left governments in France and Italy. Obama and the Republicans do it, too. They all impose “austerity” programs on their economies as necessary to exit the crisis afflicting them all since 2007. Politicians and economists impose austerity now much as doctors once stuck mustard plasters on the skins of the sick. … With few exceptions, major political parties everywhere have imposed capitalism’s two-step hustle.

IMF Article IV 2015 concluding statement: remarks by the Chancellor of the Exchequer
https://www.gov.uk/government/speeches/imf-article-iv-2015-concluding-statement-remarks-by-the-chancellor-of-the-exchequer

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About Sky Wanderer

Global Political Analysis, Research & Commentary. Multidisciplinary research and analysis revealing the big picture of the global status quo versus the mainstream myths. Searching the way out of the global financial tyranny and slavery, before the system ends up in a full-blown version of global fascism.

Discussion

9 thoughts on “The brewing perfect storm, IMF, Osborne’s threat-cocktail and the UK-version of Greek Debt Crisis

  1. Reblogged this on sdbast.

    Posted by sdbast | January 12, 2016, 6:25 pm
    • Hello, Sky Wanderer! Hope you don’t mind me reading your blog? I cannot say I know too much about finance and the economy as I am not an expert in these areas and I do agree that uncontrolled capitalism has created a world of a handful of super-rich and super-powerful and many millions more impoverished but it hasn’t all been bad, surely? Many countries have growing infrastructures which is key to trade and raising domestic standards. The Chinese are a fantastic example of how it has pulled China from being a country of ‘peasants’ with the communist elite living in comparable luxury to a super-power in only a few decades. Millions now enjoy luxuries like cars, tv, smart phones, fridges, live in marvellous new towns and cities and so on… sometimes it isn’t all black and white?Of course there is corruption but that will always be the case; what political system has brought real advancement to the masses? It certainly didn’t happen under communism…I know, my family lived under communism in Poland and had no access to food, medicine, real education, all t offered was full employment but were vassals of the State. When I was young we used to send over boxes of medicine, clothes, food – all kinds of things. Several of my relatives died because they had no access to medicine and treatment that was freely available in the UK. After the fall of the Berlin Wall Poland began to enjoy the fruits “capitalist” Europe and global trade. Yes, it comes with a price tag but none not worth paying if you asked the Poles. The EU is providing billions to invest in extremely poor countries such as Rumania…I’m sure having state of the arts farming machinery, access to sanitation, medicine, education and more is truly welcomed. Does the ruthless face of capitalism need changing? Do our governments need holding to account? Yes, of course they do but that doesn’t mean we replace it despotism or anarchy.

      Posted by Hirst4W.YorkshirePCC (@hirst_west) | January 26, 2016, 10:01 am
      • Hello,
        Thank you for reading and for sharing me with your thoughts and insights :)
        I will reply in detail at a later time.
        For now, two points – since your central topic seems to be EU’s
        role in Europe’s development:
        1) Latvia, for example, is another victim of EU/Troika’s imperial austerity-policy.
        2) The very purpose of EU is evident from the manner of its inception.
        Please read article on EU’s role in the migrant crisis:
        https://globalpoliticalanalysis.wordpress.com/2015/09/10/the-truth-behind-the-refugeescrisis-the-war-monger-empire-strikes-again/
        and this one posted earlier:
        A historical fact buried by the mass media: the EU has been USE since the end of 2007
        https://globalpoliticalanalysis.wordpress.com/2013/12/02/a-historical-fact-buried-by-the-mass-media-the-eu-has-been-use-since-the-end-of-2007/

        Posted by Sky Wanderer | January 28, 2016, 2:26 pm
      • Hello again Hirst :)

        If I understand your main points correctly, in your comments you present reasons that you see as ‘benefits’ of Capitalism, and recommend to take a more balanced stance on how to view this system. However, such “balanced” view is like praising someone as a hero who had thrown thousands of people into the river, then rescued several of them.

        Certainly, if you consider the view of those who maintain this system and who are bribed (‘rescued’ at least temporarily) it is very different from the objective facts of this system. You wrote ” Millions now enjoy luxuries like cars, tv, smart phones, fridges, live in marvellous new towns and cities and so on… sometimes it isn’t all black and white?”
        Am not sure which ‘millions’ you have exactly in mind. Maybe you are following the pro-Capitalist propagandist Capitalist media? I follow the real news, so am aware, in Asia the vast majority are working in sweatshops working for ca $20 per month for the Western Capitalist class. I can send you links to show the inhuman circumstances within which the majority of the Chinese people are working NOW.

        Certainly, a minority: the overpaid CEO’s, managers, stock brokers, bankers, speculators, politicians and their circles, UN and media-representatives, the royal families and other segments of the bribed and the privileged part of society, enjoy the luxuries you cite and they will always be willing to take a very positive view of Capitalism. What matters is however not their view but the objective facts about this system.

        And it is objective fact that the 3rd world circumstances are imported to the West. In Britain our youth are starving and are without hope for the future.

        Then there are some in the former generations who see themselves as beneficiaries of Capitalism, but they aren’t. They benefited form the era of past democratic Governments that implemented Socialist brakes into Capitalism – they are the remnants of the middle class. A more recent post explains this in detail.

        Those who hail the “achievements” of Capitalism fail to consider that these achievements are not due to the system, but to the diligence and hard work of those who are exploited by this system. If the very best of our societies would gear the future of mankind, we would not face an imminent extinction.
        And those who hail this system are unaware that more than half of the world’s population have access to no flush toilets. No one in his right mind could find such system functional and benevolent in the objective sense of the word. By the same token we could praise slavery, as it has made erecting structures like pyramids possible.

        And I haven’t yet mentioned how the Western Capitalist class keeps other continents in abject poverty, how they loot their resources, and when some of them resist, like Syria’s Assad, the Capitalist “genius” invents fake Islam terrorist groups to destabilise and bomb the Mideast Capitalist-resisting nations, such as Syria, Iraq and Palestine, into dust.

        Meanwhile Capitalists are manipulating the bribed segments and their serfs to build nice cages (those modern cities you find so compelling) for an Orwellian global police state. If left alone by the Capitalist greed we ourselves could decide how we wish to live. In rural areas we had our control over our food – we could certainly avoid eating GMO-products. Once locked into the cities you admire so much, we will forever have to accept whatever the capitalist greedy class will offer, at any price. Or do you think an Orwellian or a Hunger Games sort of future is an acceptable price for enjoying your electronic kitchen and fast cars today? I didn’t think so either …

        For all details and references to support my statements – also as a more comprehensive reply to your comments – please see these posts:
        Rethinking the future beyond Left and Right: “We are in trouble, we all need to pull together on this

        Pt2 – Rethinking the future beyond Left and Right: #Socialism, the Actual Road to Freedom

        Posted by Sky Wanderer | February 16, 2016, 10:09 am
  2. Reblogged this on paul8ar.

    Posted by paul8ar | January 13, 2016, 8:09 am
  3. Just listening to On The Trail of the Troika… it appears to be more about the corrupt and unelected officials of the EU and elected, naive and ‘corrupt’ governments of some Member States. Germany and France have by far too much control over the financial and political decision-making of the EU. It is the great EU political project and greater fiscal union that has failed but it was essentially borne out of a desire for a more peaceful, prosperous Europe – no-one can be condemned for that. The UK will have its chance to vote in the EU Referendum but whether or not that will be fair is yet to be seen. Ireland voted “No” and then were coerced with ‘sweeteners’ to have another vote which was favourable. Bizarrely, this whole project appears to be unravelling due to the massive influx of migrants into Europe…freedom of movement is a principle which underpins the EU, and Member States are starting to batten down the hatches.

    Posted by Hirst4W.YorkshirePCC (@hirst_west) | January 26, 2016, 11:07 am
  4. Reblogged this on Sid's Blog and commented:
    Great read

    Posted by Sid | March 27, 2016, 6:41 am

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