Archive for category Greece

Killer Capitalism – Greek crisis produces fatal medicine shortages

By Michael Collins
Here is perfect example of crony capitalism.  Greek leaders do a very bad deal in secret with the help of the geniuses on Wall Street.  It turns out badly for he Greek people by creating an economic crisis.  As he crisis worsens, predicted shortages of medicine and exponential price increases emerge.  Patients with multiple sclerosis, cancer,diabetes and other critical diseases face drug shortages and out of control price increases.

“On Thursday, the [Greek] multiple sclerosis patients’ association warned that if the problems persisted, sufferers could be ‘led to their deaths’. Associations representing cancer, diabetes and kidney disease patients have also spoken of the gravity of the situation. ‘Finding medicines,’ said the MS association, ‘has become a marathon for people with chronic illnesses.’”  The Independent, June 9

What happens if multiple sclerosis is untreated?

“Conclusions: This first large study in untreated patients with multiple sclerosis (MS) with different disease subtypes shows that brain atrophy proceeds relentlessly throughout the course of MS, with a rate that seems largely independent of the MS subtype, when adjusting for baseline brain volume.” Assessing brain atrophy rates in a large population of untreated multiple sclerosis subtypes, Neurology, January 31, 2012

German Chancellor Merkel and the central bankers who see the need to act tough with Greece and other nations in financial crisis plus all of those complicit with the denial of health care based in economic deprivation are directly responsible for everyone suffering as a result of those efforts. They belong in jail. Unfortunately, they’re the leaders of the advanced economies.

The system is beyond broke. It is assaulting the people it claims to serve.

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Greece left with mandate to create government says NO to bailout terms and illegal debt

By Michael Collins

Wall Streeters, big banks, and their proxies in political office are all reaching for the Xanax tonight.  The Greek left, led by Alexis Tsipras, is saying that there’s no obligation to pay back the rotten deal handed down to the Greek people.  (Image: Oneiros)

“After accepting a mandate to create a multiparty administration following inconclusive elections, Alexis Tsipras sent shock waves through financial markets by announcing the pledges Athens had made to secure rescue funds from the EU and IMF were null and void.

“The popular verdict clearly renders the bailout deal null,” said the politician, whose stridently anti-austerity coalition of the radical left, known as Syriza, sprung the surprise of the weekend’s poll, coming in second with 16.8% of the vote. “This is an historic moment for the left and the popular movement and a great responsibility for me.”  Guardian, May 8, 2012

And what does this mean?

“Alarm in EU capitals is growing, with Germany in particular emphasising that Greece must stick with the terms of the agreements it has signed with lenders who have committed themselves to give a total of €240bn to the crisis-hit country.

“The prospect of protracted political instability has stoked fears that Greece is not just teetering on a political precipice but also laying the ground, however unwittingly, for its own euro exit.”  Guardian, May 8, 201

The Greek left saying that the people are not obligated to pay the debt created by their leaders and Goldman in back rooms in Greece and elsewhere.

“As in the American subprime crisis and the implosion of the American International Group, financial derivatives played a role in the run-up of Greek debt. Instruments developed by Goldman Sachs, JPMorgan Chase and a wide range of other banks enabled politicians to mask additional borrowing in Greece, Italy and possibly elsewhere.

“In dozens of deals across the Continent, banks provided cash upfront in return for government payments in the future, with those liabilities then left off the books. Greece, for example, traded away the rights to airport fees and lottery proceeds in years to come.”   New York Times, February 13, 2010

A debt created through illegal means is not a debt at all.  That is the basic argument.  How can the people be obligated to pay (and suffer) for what their leaders did in secret with Wall Street?

The Germans are whining.  German Chancellor Angela Merkel may need another of those George W. Bush (remember him) back rubs.

Time to liberate ourselves from this useless charade of bogus debt created by the ultimate criminal class, the type that steal everything that isn’ nailed down and are freed to do it again and again … financed with bailouts from we the people.

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