Friday, July 10, 2015

Friday lay day – Surrendering to the Recession Cult

Its my Friday lay day blog and I have been working on various things today. But for this little blog I am still trying to work out an impression of what is going on in Greece and the Brussels. There is little uncertainty on the Troika side although the various elements of that position are still nuanced. The sheer antagonism of the Baltic States towards Greece is a newly revealed element which is interesting. If their logic prevails then it really is a race to the bottom unless the nation is Germany. Representing the desired benchmark by massive mediocrity if not near disaster (as in Latvia, Lithuania etc) seems to be the new normal in EU debates. Spare the thought. The Baltics should be joining Greece in a solidarity pact to oppose austerity and seek fundamental changes to the EU Treaties instead of siding with the Troika’s death wish for Greece. But there is quite a bit of uncertainty in trying to guage the Greek position. One is led to the most obvious, simple and consistent interpretations of that position – that Syriza is a fractured coalition and those currently in positions of authority (Prime Minister etc) are surrender monkeys who have miscalculated dramatically. But that would tell us that they are so acting with such venality towards their people as to be almost an unbelievable narrative. Looking deeper into the plot doesn’t provide anything consistent, just dead ends and speculation. We are close to finding out though.…
Then Bill lists the record of stupidity and cupidity. This is what a real smackdown looks like. Good on Bill.

Bill Mitchell – billy blog
Friday lay day – Surrendering to the Recession Cult
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

3 comments:

Random said...

Link to wrong article I think ;)

Tom Hickey said...

Yes, sorry. Link fixed now.

It's a must-read. Bill excoriates just about everyone involved. Brilliantly.

Dan Lynch said...

I've been known to disagree with Bill on some issues, but give him credit for being spot-on about Syriza from day one.