To be very honest, I have not kept a close eye on what has been going on in the EU or, even less so, Greece. I also get a strong feeling that there is a lot of smoke and propaganda around all this. I would like to share with you two very different outlooks on this topic: the analyses of investment banker Marshall Auerback and French economist Franck Biancheri. They are both ‘heavyweights’ in the field, they both speak very convincingly, and yet they both totally disagree, in particular on what the Greek crisis means for the EU, the UK and, eventually, the USA.
Listen to Biancheri here:
As for Auerback, you can listen to his very interesting interview by George Kenny by visiting the website Electric Politics:
http://www.electricpolitics.com/podcast/2010/05/i_euro.html
If you know of any good articles, audio or video recordings or books which you believe could help me make sense of what is going on in this latest economic crisis, please let me know.
Thanks,
The Saker
UPDATE1: L. just reminded me of these most interesting YouTube videos of Peter Schiff – the chief economic advisor for Lew Rockwell and Ron Paul. Also very interesting!
UPDATE2: another very interesting take on all this: Michael Hudson, Chief Economic Advisor to Dennis Kucinich in 2008, just published “Drop Dead Economics: The Financial Crisis in Greece and the European Union – The Wealthy Won’t Pay Their Taxes, So Labor Must Do So” at GlobalResearch.ca.
The Fall of Greece
Yes, It Really is a Capitalist Plot
By Diana Johnstone found at http://www.globalresearch.ca/index.php?context=va&aid=17937 offers another perspective. Are US Taxpayers Bailing Out Greece? http://www.house.gov/htbin/blog_inc?BLOG,tx14_paul,blog,999,All,Item%20not%20found,ID=100216_3645,TEMPLATE=postingdetail.shtml offers more. Then there is YouTube – Alex Jones on Greece: Battle against Oligarchs
http://www.youtube.com/watch?v=-iHHx6naoT8&playnext_from=TL&videos=uwDodYn-gUM&feature=grec
All of these are trusted sources yet may differ. As an accountant, I can truly say that economics is Greek to me!
The Fall of Greece
Yes, It Really is a Capitalist Plot
By Diana Johnstone found at http://www.globalresearch.ca/index.php?context=va&aid=17937 offers another perspective.
Are US Taxpayers Bailing Out Greece? http://www.house.gov/htbin/blog_inc?BLOG,tx14_paul,blog,999,All,Item%20not%20found,ID=100216_3645,TEMPLATE=postingdetail.shtml offers more.
Then there is YouTube – Alex Jones on Greece: Battle against Oligarchs
http://www.youtube.com/watch?v=-iHHx6naoT8&playnext_from=TL&videos=uwDodYn-gUM&feature=grec
All of these are trusted sources yet may differ. As an accountant, I can truly say that economics is Greek to me!
Look at the data at hand. Greece has been the top 3 arms buyer for sometime now. Turkey has been #10 (yes both have been competing on arms race). If Greece is bankrupt today it’s because of all the money invested in the arms. Guess who was the top arms seller to Greece? Germany.
The mass media keeps portraying the protesting workers as the culprit and that they want to evade taxes. I support the workers because why should they keep sponsoring a system that favors a minority in their country while they are paying for it?
Saker, pal, I have been busy and quiet but the Kurdish cause is taking up most of my time. I am lurking though. ;-)
Zerkes
@Zerkes: glad to see that you are still with us. Listen, if you have any interesting info about Kurdish issues, don’t hesitate to post them here in the comments section, ok? There is no such thing as ‘off topic’ on this blog :-)
There are two episodes of the Nationalist Report dedicated to the crisis in Greece. Of the two I would recommend the second part.
The Nationalist Report
(scroll down to see coverage of Greece).
Michael Hudson appeared on Al Jazeera to talk about this. He does a fairly good job of covering the European debt Crisis:
Michael Hudson on Greek & European Debt Crisis – AlJazeera
Hudson does a good job of exposing Americans to classical economic thinking about minimizing extractive costs – a policy that was employed with great success by national socialism. Unfortunately the Friedman School shills who dominate the American economics departments and who wrote the accreditation requirements for economic dept’s throughout the USA, have eliminated this crucial distnction.
The number 1 commentator on the Global Financial Crisis in my opinion is Michael Hudson.
Go to his website immediately:
http://michael-hudson.com/
and subscribe to his sitefeed.
Here is his latest article on Greece and the Euro:
http://michael-hudson.com/2010/05/euro-bankers-to-greecethe-wealthy-won%E2%80%99t-pay-their-taxes-so-labor-must-do-so/
His book Super Imperialism
http://www.amazon.com/Super-Imperialism-Origin-Fundamentals-Dominanc/dp/0745319890/ref=pd_sim_b_4
is also a must read to help understand the dominant position of American financial power in the post-war era.
The whole book can be downloaded in pdf from from his website:
http://michael-hudson.com/wp-content/uploads/2010/03/superimperialism.pdf
At the very least read the preface and introduction, which summarize the argument.
@Bernard: yes, I also have the same feeling. I have heard many interviews of Hudson on “Guns and Butter” and each time I was really impressed by the man. I did not know that he had a website, so thanks a lot for that pointer!
@Bernard. Wow, his book is rather pricey on Amazon. It’s even more wonderful that the guy made the full thing available down download. I just downloaded the entire thing and I will read it all. Thanks a lot again for that pointer!