Wednesday, June 22, 2016

REMAIN?













Belligerent Britain is eager to LEAVE
But the costs will be greater than most can conceive:
We'll need new munitions and rockets and tanks
And young cannon fodder to people the ranks.

Throwing mud, hateful whingeing
Hurts the Brits overseas
Do we want ethnic cleansing?
Xenophobe policies?

Must our live-abroad brethren
File home? (Make some room!)
Liquidating their casa
For the Olde English gloom?

The rich will grow Richer
And the poor will eat shit
Lady Swell will still party
While we proles must submit.

Blame our own megawealthy
Who will keep us in chains
As the dear House of Windsor
Will still swill their champagnes.

(poem)
REMAIN?
by  Genki

Tuesday, June 21, 2016

Understanding Bondage

Some people heartily feel America the beautiful is the Greatest Nation on Earth, and God smiles on her prosperity and the American people.

Others feel we live in a shithole of deeply corrupt systems, with a population willfully ignorant of damages we impose on the environment and the wider world.

Happily I'm somewhere in-between.

But it is important to understand major trends & faults in our society, or risk being damaged. Thus please read these disturbing analyses of what's wrong with the USA today, which provide actionable advice:

"Voting will not alter the corporate systems of power. Voting is an act of political theater. Voting in the United States is as futile and sterile as in the elections I covered as a reporter in dictatorships like Syria, Iran and Iraq." (written in January 2012)

"Con vs. Con"  by Chris Hedges
"The repeated argument of the necessity of supporting the “least worse” makes things worse... build alternative movements and parties to bring down corporate power or continue to watch our democracy atrophy into a police state and our ecosystem unravel... If you want to see what America will look like soon, across the country, shift your focus from the convention halls to the streets in Cleveland and Philadelphia. It is in the streets that our corporate masters will win or lose."

"A Debasing Spectacle: Behind and Beyond the Latest Quadrennial Carnival"  by Paul Street
"The quadrennial electoral extravaganza is no place to go looking for justice...  
Let’s mourn and organize."

Monday, June 20, 2016

One Man, Acting Alone?

The brutal murder of Jo Cox is a multi-dimensional outrage & horror.

As the UK seemed to lurch toward ethnic cleansing, the public murder of a young mother by a disaffected loner (?) may have shifted the tide of public opinion.

The accused killer has been announced as Thomas Mair, though in court he claimed his name to be "Death to Traitors - Freedom for Britain" ... Did his Mum ever called him that? We may never know, but the apple doesn't fall far from the tree. We're told Tommy "appears to have links to far-right groups" and also that there is great political importance in how the story is reported (The Washington Post).















I'm a supporter of the EU, and for Britain to remain. I'm wholly against targeted killings and violence.

Jo Cox may be a rallying focus against an extreme element of society who'd sacrifice anyone or all. But the story within hours was being twisted in various ways. Corporate media spin and greater forces in society were harvesting benefits from the young mum's still-warm corpse.

For example, many media sources published "news" released from the USA about extremist book purchases allegedly made the perpetrator 17 years ago (BBC link). How can a packing slip from 1999 be produced in a matter of hours "proving" the perpetrator's dark thinking? One answer is that public attention span is very short, and the Brexit vote deadline near, so the proofs needed to be generated quickly. Voilà! ? How & why could a private civil rights group in the USA have such information & evidence? Surely extremist publishers & booksellers don't share their data so easily...

Look into the inconsistencies (link) and it's easy to find explanations, but these arguments are dark as the murder, and the multiple forces of law and good and evil all become grey and difficult to discern. So much easier just to cluck at feel sad about the tragedy. Is that truly our democracy in action?


Monday, June 13, 2016

Protection Against Controllers

As Britain debates potential exit from the European Union, it's useful to consider who wins.

The idea that local people will be empowered by relying on corrupt national-level stooges is ridiculous It's still mega-government. Most people are -- sorry to be brutal -- enslaved as sheep.

The fight is truly over checks-and-balances. Who will be the bosses? and how much freedom will the corrupt elite have to suppress us? National-level "elite leaders" are actually forced to maintain minimal standards by organizations such as the EU and UN.

External enemies include huge foreign systems, including corporate systems. The European Union has many safeguards for human rights. Great EU efforts against monopolization and corruption have levied very large multi-billion euro fines on sneaky dirty corporations. These are functions national entities can only mobilize with great difficulty.

Our enemies are global & well-funded.






Saturday, June 11, 2016

American Tyranny - 4 more years?

American Tyranny is scheduled to continue another four to eight years - at least.

If you don't like the way government & megawealthy corporate cronies intrude at your cost into your home & personal life, too bad. Americans are electing people who help the rich, and who help themselves. There's shit left for you.























"Just four more years" before potential reform again becomes possible? The answer's NO. Is it really possible now via voting?  no.

America was bled by the Bush-Cheney regime, and Halliburton-Blackwater milked us dry. But then Obama and the Upper Class gave huge public funds to their rich & powerful 1% friends to maintain controls over housing, the markets and over our lives.

Repression becomes stronger. "The Obama government of Hope" built-up a spying & reconnaissance infrastructure attached to every phone & computer, continued assorted wars & destabilization, and generated enemies by escalating poorly-targeted assassinations (including American citizens abroad).

Clearly the ballot box offers no salvation -- the system's perpetually corrupt. (In the Democratic California primary, millions of ballots remain uncounted three days later). The little we have is being rudely taken -- even illusions of fairness, justice, hope...

Life don't run forever. Fattened by cheap cuts of meat & greasy sweets, Americans are beginning to wake up angry.


Thursday, June 09, 2016

Brexit Opportunity

I don't think the UK should withdraw from the European Union. Boris Johnson (BoJo & co.) irresponsibly counsel for Brexit - my fellow Balliol man's become a driver of dumfux...

Painting neighbors as enemies and becoming more insular is shortsighted -- a favorable scenario only for arms dealers and right-wing extremists.

On the positive side, one group's loss is another's gain.

Sad for Brits with vacation homes on the continent - When many sell & flee, prices will fall. Good for the rest of us hoping for a bargain, but overall a loss to better human understanding.




Wednesday, June 08, 2016

Democrat? Republican? American

TV talking heads tell us Bernie Sanders failed to become Democratic Party nominee for President of the USA. They slice their commentaries in various ways, but avoid a major point: Bernie came into the corporate-controlled Democratic Party and nearly deposed their already-crowned Queen -- and Bernie is not even a member of the Democratic Party.

Corporatism stacked the deck against Sanders. "Superdelegates" favoring Clinton were quickly & overwhelmingly appointed, choices of their party bosses who funneled huge monies to Clinton. Party bosses restricted Sanders campaign access to the national Democratic voter database -- after sharing Sanders supporter data with others (with the NGP VAN database). In some states such as New York, only Party members registered many months previously were allowed to vote at all. As Clinton gradually looked poised to win the nomination, they pressured other candidates to drop out. The crushing Party mechanisms were operated by a creepy 49-year old politico from Florida, Debbie Wasserman Schultz, former co-Chair of Hillary Clinton's 2008 Presidential effort. The Party bureaucracy is now saturated with talking heads and parasitic political operatives, desperately seeking self-enrichment & wholly deaf to progressive change.

Sanders did more than shake things up. Sanders helped us recognize the heavy CHAINS we're forced to wear. Student debt, a predatory financial system, an overseas-based military with procurement spending out of control (but poor veteran support services), an economy with insufficient environmental safeguards, an election system of candidates spouting foolish platitudes & lies.

Sanders was always an INDEPENDENT.

Sanders walked into the Democratic Party and won much support. Now buzzards circle, clucking "Same old, same old" -- But perhaps change may still happen... American independents, not so easily corralled by poor choices & decrepit party hacks, may still generate true change. The awareness built by Bernie Sanders will not easily fade.




Tuesday, June 07, 2016

Fixing Cholera ?

People who suddenly see an unreasonable dimension to American politics are slow to awaken, but perhaps better late than never?

The same corporate crowd who brought the USA to endless expensive illegal & unwise wars in Afghanistan & Iraq, and earlier in Vietnam, are now serving up Cholera to the American people.

Yumbo!

"Promises" made by the heated diseased soon forgotten...
TPP actually OK. Unwarranted spying & endless wars OK.
Bibi Netanyahu, Chief Adviser, OK. Torturing enemies? OK.
Corporate-controlled Cholera.


Saturday, June 04, 2016

Parenting 101

The case of a little darling left in the Japanese woods by his parents after throwing rocks raises many interesting issues. One bright point is that parenting classes could become a new growth industry.

Society suffers from the high costs of delinquency & crime. Many housewife-mothers could be fruitfully employed to help parents with advice on how to raise their spawn. Japanese society needs more kids, women need more jobs. Government can spend funds on human services instead of on foolish construction projects or another wasteful national defense boondoggle. Parents might be given a tax incentive upon successfully completing a carefully designed Parenting course.

Number of births in Japan has slid dangerously in past decades. As recently as 1973 there were 2,092,000 children born in Japan. Last year may have been under a million births (they're still counting), but anyway, approximately half the newborn kids compared to the early 70s. This is far below replacement rate; the Japanese population is aging and citizen numbers are dropping.

Character for "Parent" - (elements mean stand by a tree watching)


RIP Muhammad Ali

















Muhammad Ali.  Cassius Clay.  He surely riled The Man.

Listen (*) to his political speeches & banter.

Then, Ali was struck-down. After 1984 Ali could barely talk.
Unnaturally convenient...

Let's understand Truth: a strong & glib politically-astute leader, antiwar, actively seeking to overturn America's animosity against his race. We know for a fact Ali was illegally monitored and labeled Threat to the State by J. Edgar Hoover and the FBI, and branded an enemy by Nixon's corrupted White House .

"World leaders marveled at the spell he cast over the crowds. "If you were a Filipino," joked Ferdinand Marcos, "I'd have to shoot you."" (quote from Esquire, June 1989).

Now imagine an American government unit being ordered to
chemically castrate Muhammad Ali - 
" Don't kill him, just shut him up! "

When did it happen? Who did it? Ali was erased long ago.
Far Too Convenient to happen naturally...
Was Muhammad Ali poisoned by the US Government? 
  ... more likely than not ...

Bloggers can only speculate (as here, link)...

Where might someone leak a truly dark story?







Wednesday, June 01, 2016

CHOLERA? or TYPHUS?








Our Great Choice USA®
Toxic Twins for Tyranny

   Enjoying Democracy since 1776
      "Best Nation on Earth"
     GOD BLESS AMERICA

Cholera ...?  or  Typhus ...?     Choose Now or Can't Complain?
Americans can stop being bitch-slapped by corporate megawealth.



 
 



Tuesday, May 31, 2016

Europeans !

Much news focuses on the problems of Europe. Let's think of our Progress.

We're not at WAR. Please understand the arms dealers and big-money militarists are disappointed their munitions markets have largely evaporated. The Germans are not arming themselves against the French, the Greeks against the Brits. Our young people are not conscripted for military service, then thrown into battle to be butchered.

We do not suffer from arbitrary search & seizure at each of Europe's internal borders. Those of us who remember passport controls & inquisitive customs officials are very happy those days are gone.

We can holiday easily around Europe and the wider world. We enjoy foods and products from most everywhere. We exchange information and combine our energies to minimize abuses.

I look at this Merci Zlatan! link, of a Swedish footballer in France, and recognize Europeans have much to be proud about:
Merci Zlatan!      Here's more inspiration:   Names of the World  


















Of course, the Grand-père with connections seeks to boost his kin...

Sunday, May 29, 2016

Non-Violent Dividend

Disparities in society are severe and dangerous.

Those on the butt-end can look forward to lives nasty, brutish & short.
 -- quoting Thomas Hobbes from Leviathan (1651)

Rich folk best invest to keep the proles from violence

Hopelessness breeds Dangerous Animosity & Destructive Action.
It's time we carefully consider the idea of a basic income (link).

Otherwise, my wealthy friends risk the sharp edge of a guillotine...
Tragedy! 


Crimes of the Condor

A few government criminals, of many hundreds, were successfully prosecuted in Argentina as part of the US-led Operation Condor. They were responsible for torture, murders, and other crimes across South America in American-supported dictatorships: Argentina, Bolivia, Brazil, Chile, Paraguay & Uruguay.

The terror killed 60,000+ people, while 400,000 were arrested, tortured & imprisoned. Of course the Yankee strategists and criminal funders can still be prosecuted, but corruption runs deep. Most politicians are just puppets -- the destructive tools of monstrously dirty capitalists who can live anywhere - or nowhere. Mega-yachts vs. farmers and activist laborers.

Find those truly Guilty... Convicted criminals should imprisoned, if possible, and purged of social honors. The town squares, bridges, and city streets named after these killers should be renamed.




Friday, May 27, 2016

Native Hawaiian Determination

Native Hawaiians are not self-governing.

We are Occupied -
Yankee military took huge tracts of land
Outsiders push agendas & profit scams.

Hawai'i's environment includes Hawaiians
Hawai'i's environment always includes Hawaiians
Hawaiians protect the homeland, our islands.

Don't steal our Land
Don't You ripoff Aloha

Let's celebrate Together
Not Rich tourist Served by Da kine...

Listen to the voice of Israel Kamakawiwo'ole (link)
A Great Peaceful Force boosting Hawaiian sovereignty.
Here's his Tribute (1min 15 sec) Final Voyage
:
https://youtu.be/b9ixtdjzIjw

IZ -- now dead 19 years -- Hawaiians still shit upon.
Rest in Peace IZ  -- Always Hawaiian !
Native Hawaiian Self-Government NOW





Wednesday, May 25, 2016

Pardon Fascism?

Henry Kissinger was never charged with crimes by the USA.
Dick Cheney still spews deadly poisons.
Richard Nixon was pardoned.

Why no pardon for those helping Americans understand our government?

Ed Snowden    •   Chelsea Manning    •   Julian Assange

The answer's clear:  Our Government is Brutally Corrupt
Snowden  •  Manning  •  Assange
Proved Our Empire's Leaders are Dirty
Pardon these Activists NOW



Tuesday, May 24, 2016

Sport Cheats & Frauds

The USA is now critical of Russia because some of its athletes have used banned performance-enhancing drugs.

But the USA can't speak out against others, because America still shelters the notorious self-admitted cheat Lance Armstrong.

The US Postal Service sponsored Armstrong & his cycling team for many years, paying millions of dollars in support. American beauty Lance has not spent a day in prison for his admitted corruption, drug trafficking, conspiracy, threats, slander and other crimes. The Feds are still slowly seeking to recover some of their misspent millions (link). But Armstrong severely damaged the nation's reputation -- a horrible disappointment & dirty symbol to millions of former fans, a slimy embarrassment to his family and the great state of Texas. Perhaps corrupt political connections & wealth keep him from prison?

Many American cheats & frauds have been apprehended - some belatedly (such as Marion Jones) - but we can imagine many dozens, hundreds, or perhaps thousands have avoided being caught. The USA is clearly a bad judge for others when American Lance Armstrong, the most notorious sport cheat in history, has not been criminally prosecuted and continues to live fat on his ill-gotten gains.




Monday, May 23, 2016

3 Reasons We Need Bernie

Various pundits are criticizing Sen. Bernie Sanders for staying active in the U.S. Presidential race although behind Sec. Hillary Clinton for the Democratic nomination.

Here are three of many Reasons Sanders Should Continue:

Basic Problems with America
Sanders highlights many fundamental problems with American society, and pledges to fix them. High student tuition harms mobility and makes our social class system more rigid. Limited access to medical care shortens American lives, as does endless overseas warfare. The influence of Big Finance on the political process is corrupting. Sanders makes a strong point that many of these problems, and the reforms he proposes, are being discussed only as long as he's a candidate. If Sanders drops out, corporatists Clinton & Trump and the lapdog corporatist media will ignore such topics.

Long & Winding Road
The U.S. election process is unduly long, painful, and fundamentally unreasonable. A great many mechanisms such as gerrymandering and insider manipulations (such as the superdelegate system) are undemocratic. Voting places are poorly operated. Voters are treated with disdain - and we've become too accustomed to bad treatment by government and social services. The integrity of American democracy is simply an imaginary fiction. The voting machine scandals of Florida (2000) and Ohio (2004) are likely to recur in other states. American politics is dirty and corrupt - look carefully: it's clear we're being suckered. Sanders is drawing attention to the flawed election process, and the more we see, the more chance for true reform... as we sheep awaken.

Clinton Might Collapse
If Clinton were to be elected she'd finish her first term aged 73. She's certain to face strong opposition and frictions throughout her term. Why bother? Half or more of the nation seem to hate her. Even many of her supporters believe she's a corporate shill. Can they pay her enough? Life is short... And who knows about accidents, etc. -- Until the National Convention (and of course afterward) there are hundreds of possible misfortunes that could negatively influence any candidate. Better there's an available alternative, such as Senator Sanders, prepared to take up the torch.



Artikel 48

Few Americans are familiar with the mechanics used by Hitler & the National Socialists to grab and maintain power. Using legal loopholes such as Artikel 48 and Notverordnung (emergency decree), they were able to bypass the rule of law.

Similar processes now exist in the USA. Top officials claim the US legal system is now being dangerously manipulated (link).

US National Security Agency (NSA) whistleblowers, and now a top official from the Department of Defense Inspector General's Office (John Crane) are frighteningly critical.

According to William Binney, former NSA official: "They’re saying, 'We’re doing this to protect you' -- I will tell you that that’s exactly what the Nazis said in Special Order 48 in 1933 – we’re doing this to protect you. And that’s how they got rid of all of their political opponents."

A recent article from The Guardian speaks of the whistleblowers and puts their efforts into perspective:

"These are strong statements – comparing the actions of the US government to Nazi Germany, warning of an emerging “police state” – so it’s worth remembering who made them. The NSA whistleblowers were not leftwing peace nuts. They had spent their professional lives inside the US intelligence apparatus – devoted, they thought, to the protection of the homeland and defence of the constitution. They were political conservatives, highly educated, respectful of evidence, careful with words. And they were saying, on the basis of personal experience, that the US government was being run by people who were willing to break the law and bend the state’s awesome powers to their own ends. They were saying that laws and technologies had secretly been put in place that threatened to overturn the democratic governance Americans took for granted and shrink their liberties to a vanishing point. And they were saying that something needed to be done about all this before it was too late."

Perhaps already TOO LATE? Electing Clinton or Trump can't help.
Think they got your back? You know the answer...


 

Thursday, May 19, 2016

Infecting Pigs

The keyword of this week's news is infection. Antibiotic resistance is in the news as "superbugs" (link) and via the U.S. National Microbiome Initiative (link).

It's great there's movement to better recognize the simple mechanics of antibiotic danger. Using broad spectrum medicines "clears the table" for a wholly open playground: where any opportunistic or resistant organisms can reproduce & thrive.

The infecting Pigs in this headline are the drug companies. Our system and their business models do not allow patents and exclusive licensing of naturally-occurring antibacterial agents. Phage biology has been ignored far too long. The upcoming deaths from antibacterial resistance we bring piggishly upon ourselves.



Tuesday, May 17, 2016

Hawaiian Delegation

A range of people want Hawaiian independence. Some claim or 'demand' independence, but do nothing to rebuild the Hawaiian Nation other than criticize. Some weasels surely seek to stifle Hawaiian self-governance while claiming otherwise.

"Indigenous" as an organizing mechanism?
Some Hawaiian Kingdom supporters fight Native Hawaiian & indigenous self-government efforts. They argue the multi-ethnic Hawaiian Kingdom existing at the 1893 overthrow is supremely important. But the fight to regain indigenous rights and lands is much more than a globally recognized organizing mechanism. Those who claim to be patriots yet sacrifice Native Hawaiians are deceptive - perhaps even deceiving themselves. If their ancestors were loyal to the crown, surely justice-minded Hawaiians can & will recognize such facts.

Recognize as well that the Hawaiian community controversially integrated for a few brief decades before losing control of our nation. This happened after many centuries of our people being regional stewards to the grand Hawaiian land, seas, and surroundings.

The violent overthrow of Hawai'i's Queen Lili'uokalani was instigated by outsiders, mainly Americans. Mainstream Hawaiians actively but peaceably resisted: signing petitions, struggling to survive, regrouping elsewhere when displaced by Yankee industry or military.

The illegal Provisional Government, the Republic of Hawaii, and the subsequent US Occupation are a dark shadow over the Hawaiian archipelago. Their continuing violence and atrocities leave many imbalances. Never forget: they brought violence and a foreign military.

Hawaiians have grown distrustful. We've learned the need to carefully monitor government. But we should be able to delegate responsibilities.

Native Hawaiians have been caretakers of the islands for many hundreds of years. It is our right and our responsibility to continue. We cannot rely upon the US government in faraway Washington D.C. We're obstructed by the Yankee military machine, leaking poisons, grossly sprawled everywhere. We need a self-governing Hawaiian nation. Allowing self-government for Native Hawaiians is just, fair, and smart. 

"Citizens Guard" could be visiting foreigners - They terrorized native citizens.
Yankee used their "Citizens Guard" to keep local Hawaiians subdued  (link)



Thursday, May 12, 2016

Shady Business

Donald Trump & Co. have four or more major corporate bankruptcies. What does this mean? It fundamentally means he's UNDEPENDABLE. He's shown 4+ times he'll fuck you over with no remorse.

I'm a businessperson, and highly trained in business. Agreements & honor are important, and it's best whenever possible to avoid the shadier edge of business.

Below is a disturbing news article about shady business. How can a company be suddenly bankrupt, but "not affected, still hiring, still growing"... ?

Unfair? How is bankruptcy fair to those whose unpaid services you've abused?

The true bottom line is to compete with such a firm is toxic. They're able to undersell when they've no intention to pay creditors. They run-up debts, and run away. They are harmful parasites. They hurt those around them and the larger community cause they cheat, and their manipulations run-up costs for everyone. They then spin vague stories excusing their self-indulgence and failure to perform properly. If a large unpaid account damaged your firm (for example), at least explain full details. Otherwise, you're a bum.

The Donald Trump has shown multiple times he's that type of parasite: BUM


http://www.capecodtimes.com/news/20160511/disposal-company-with-cape-contracts-files-for-bankruptcy

SOLID WASTE

Disposal company with Cape contracts files for bankruptcy
ABC Disposal has signed more than half a dozen Cape towns for trash disposal services

By Mike Lawrence  The Standard-Times
Posted May 11, 2016

NEW BEDFORD — ABC Disposal Service has filed for Chapter 11 bankruptcy protection but the financial maneuver won’t affect trash removal in southeastern Massachusetts or the more than 200 people employed by the company and affiliates, a company official said Wednesday.

"Our customers are not affected and our employees are not affected. In fact, we’re still hiring," ABC CEO Michael Camara said. "We’re still growing and still charging forward."

Plans remain on track to open ZERO Waste Solutions — the company’s new, $27 million, 100,000-square-foot waste recycling plant — next year in Rochester, Camara said.

More than a half dozen Cape towns, including Harwich, Mashpee, Orleans, Wellfleet, Provincetown, Barnstable, and Dennis, had signed up over the past several years to ship solid waste to the new plant but its opening has been repeatedly delayed.

"They will not be affected," Camara said. "We are not for sale. We are not going out of business."

The filing announced Wednesday was made in the Massachusetts district of U.S. Bankruptcy Court. It affects ABC Disposal Service, Inc., New Bedford Waste Services, LLC, and other affiliates. Camara said ABC and New Bedford Waste have some of the same owners. ABC Disposal handles trash removal — with more than 100 trucks operating in southeastern Massachusetts and Martha’s Vineyard, Camara said — while New Bedford Waste handles waste recycling and transfers. New Bedford Waste owns a construction and demolition debris recycling facility in Sandwich, which was destroyed in a fire in 2014 but later reopened. ABC Disposal operates out of several regional locations and is headquartered on Shawmut Avenue in New Bedford’s North End, near New Bedford Regional Airport.

While ABC has "been working on the refinancing for a while," he expected the issue to be resolved in the near future, Camara said.

"I have several investment bankers working on this," Camara said. "We expect to start to see term sheets and letters of intent very soon."

Rumors of financial challenges for ABC have circulated for several months. But Ken Blanchard, New Bedford’s director of facilities and fleet management, said in February that he wasn’t aware of any problems.

"The city’s contract with them is solid, and their performance is solid," Blanchard said at the time. "From what I see, everything’s going along pretty smoothly."

Blanchard said ABC is responsible for all of the curbside trash and recycling collection in New Bedford, in addition to its contracts across the region. City officials could not be reached after Camara’s announcement of the filing early Wednesday evening.

ABC Disposal has been in business in New Bedford for 49 years. Combined employment for ABC and New Bedford Waste can reach 230 people in the summer months, Camara said. When asked in February about potential financial troubles, Camara said "rumors" of layoffs or litigation were false and "very disturbing." No layoffs or legal disputes have arisen as a result of the Chapter 11 financing, he said.

"This doesn’t stop us," Camara said. "This just gives us the time to reorganize the company and get our financing finished."

Sunday, May 08, 2016

Poor Greece

Everyone knows Greece has been in serious financial trouble.

Most people have not understood the so-called "Greek bailout" was designed to assist private creditors, especially French & German banks. Greek creditors had to accept a "haircut" of €107.1 billion in exchange for their debt essentially being transferred to the public sector (€215.9b disbursed, mostly from the EU, 15% from the IMF - see data here).

Greek banks got only 17% of the recapitalization money. Below 5% of total funds were aimed elsewhere, such as lowering the annual fiscal deficit.

So the Greeks are still in serious trouble - by design. Implosion was delayed. Greece's former Finance Minister Yanis Varoufakis has labeled the process "extend & pretend!" The pockets picked were OURS - the Greeks had little to do with it.

The Bank always wins.