Posted by: quiscus | November 13, 2011

November 13, 2011


1. “Italy and Greece: Rule by the Bankers


“Technocratic governments” ruling on behalf of financial markets


There is an alternative to this misery. I have outlined it in previous posts (see “An alternative programme for Europe”, 11 September 2011). Democratically elected governments in both countries should announce together that they are defaulting on all public sector debt held by the private sector. If that busts their banks (as it would), they should be taken over with customer deposits protected and then run as public enterprises directed to lend to industry and households to boost investment and consumption. Instead of slipping into a debt spiral that leads to economic recession (or continued depression as much of Europe is already in), recovery could be kickstarted by state-led investment. Of course, this is anathema to Europe’s capitalist leaders and capitalist sectors because it would threaten the profit-based economy they preside over. So instead, we shall have the bankers rule.”


2. “Protesters Have the Right to Protest … and to Resist Unlawful Arrest


Top Military Commander and Courts Support Right to Protest”


3. “Reports of Iran’s Nuclear Ambitions Sound Like a Repeat of Iraq Eight Years Ago


“We will not build two (nuclear) bombs in the face of (America’s) 20,000,” said Iranian president Mahmoud Ahmadinejad in response to an International Atomic Energy Agency report this week that accuses Iran of doing just that. He called Yukiya Amano, the head of the IAEA, a U.S. puppet, saying: “This person does not publish a report about America and its allies’ nuclear arsenals.”


Well, that’s true, actually. Amano will never publish a report about America’s nuclear weapons (only 5,133 of them now, actually). He hasn’t said anything about Israel’s, Britain’s, and France’s weapons of mass destruction either. And his report is largely based on information fed to him by Western intelligence agencies.”

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