Tag: european-union

An Examination of the Political and Economic Crisis in Ireland

On By southwerkIn Economic Justice

I very much enjoyed this documentary. I find it insightful. A citizen of Ireland who worked as a foreign correspondent returns home and looks at his country with some perspective.

It’s easy to see the very similar problems in both the United States and Ireland. In both cases, the government baled out the banks without asking any serious questions nor taking into account the actual value of the bank loans. In both cases, a real estate bubble that was clearly propelled by speculation was considered to be a safe and continuing source of prosperity for the country. And in both cases, the taxpayers wound up footing the bill, while unemployment doubled and services were reduced.

In other words, the well connected walked away and discussed with great seriousness their loss of reputation and minor financial irritations, while the great majority of the nation’s citizen’s suffered for their crimes.

James Pilant

Ireland The Rise and Fall of the Economy, Real Estate, Development – YouTube

 

Enhanced by Zemanta

Greeks Enraged as the Parliament is set to approve Austerity plan (via )

On By southwerkIn business ethics

I believe Greece should default. I would rather live on a planet where investors have to make intelligent investment decisions than one where their investment decisions are protected by United States, the EU, the World Bank and the IMF.

I would love to hear more in the media about Goldman Sachs involvement in this debacle.

For instance, here, here, here, and here.

James Pilant

Greeks Enraged as the Parliament is set to approve Austerity plan Thousands of Greeks arrive at the Parliament’s building to press their representatives to reject the new austerity package. Reuters June 28, 2011 Anti-austerity protests turned violent in Athens on Tuesday as the European Union warned Greek lawmakers the country faces immediate default unless they back an unpopular economic plan this week. Hooded youths throwing stones and wielding sticks set fire to garbage bins and a telecoms truck outside parl … Read More

via

Bankers Order the Looting of Greece (via )

On By southwerkIn business ethics1 Comment

I think that this is a highly likely scenario. The practice of American entrepreneurs of exploiting disasters for big bucks has made them experts in extracting the last dime from the crisis victims.

But I have to admit, it was the picture of Snidely Whiplash that got my attention. He is a perfect example of the modern international capitalist – greedy, proud, unashamed, forever on the make, and having a damn good time.

James Pilant

Bankers Order the Looting of Greece According to Max Keiser, people of the kinds of Forbes are already in Greece to get its assets for pennies on the Euro. It is now clear the rest of the countries will come next. That is the plan. Reuters June 18, 2011 A restructuring of Greece's 340 billion euro ($481.5 billion) debt is not on the agenda and would damage the country's credibility on bond markets, the European Union's internal markets commissioner said on Saturday. Forcing Greece' … Read More

via