Political Eh-conomy: Syriza buys four months of breathing room

Belatedly, here is an article I wrote on Greece’s agreement with the Eurozone for Ricochet. It focuses on the next four months with their opportunities and pitfalls. Given that the list of reforms authored by Yanis Varoufakis looks to get the approval of the Eurogroup member states, the article remains relevant, the breathing room actually in place. Assuming ...

Political Eh-conomy: Creditors forcing rapprochement within Syriza?

I’m starting to cautiously think that the Varoufakis and Lapavitsas “approaches” to the crisis might end up not too far away from each other even though the strategic direction they have advocated is very different. The situation, especially after today’s hardening of the creditors’ stance at the Eurogroup, may simply force it. The other option ...

S&P on downgrade: “…the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”

Just in case you didn’t get that the first time around. This is a point the Democrats (and progressive media/bloggers need to hammer) for the next few weeks. But they won’t. The right is massed with talking points blaming the left for the defeat. But the text of the S&P downgrade doesn’t specifically call out the Democratic party or ...

RedBedHead: Republocrats Agree To Sodomize Americans, Fund Israel

…and I don’t mean sodomy in the fun frolicky sense of the world. What I mean is that they’ve agree that the deficit will not be “fixed” by raising taxes on the wealthy – whose tax breaks (along with multiple unwinnable and expensive wars & a defence budget that is unspeakably high) caused the deficit ...

Americans can’t seem to apply Greek style austerity measures to stave off default, while Republicans flush their country down the toilet

If I was in U.S. House Speaker John A. Boehner’s shoes I would have agreed to President Obama’s terms in raising the country’s debt ceiling. Why? Well I think it’s because the proposals which Mr. Obama presented to Mr. Boehner were actually very good. They included, “over a trillion dollars in cuts to discretionary spending, ...

RedBedHead: Italy Votes To Kill Its Economy To Save Its Debt Rating

The parasites and rumour-mongers who run the debt ratings agencies, having done their work getting the Greek government to screw their population, have moved on to Italy. Let’s be honest, the ratings agencies are just the propaganda arm – fully funded – of the American financial “services” industry. They issue reports and recommendations entirely based ...

RedBedHead: Obama’s Phoney Budget War

There’s a fairly decent chance that the morons who run the American Empire will let the country slip into default at the beginning of August, causing a cascade of penalties and blowback that will kill the barely breathing recovery. Greek politicians can at least claim that their hands have been forced by the dictatorship of ...