Economics for Dummies: How the IMF ate Greece

An excellent, succinct interview with Michael Hudson, who explains how the European common market helped to tank the Greek economy, and then sold it out to the IMF. One jarring moment is when he says that all the historical assets of Greece, that used to require whole armies to steal, are now being taken by foreigners just by way of a flimsy bank transaction. Another is when Dr. Hudson describes the exact economic conditions that led to the Greek catastrophe: the very same conditions currently pertain in the United States, as well. That ought to be extremely worrying to my many US-based readers.

And, as an ethnic German, I’m especially disgusted at the way the German banksters led the “PIGS” (Portugal, Ireland, Greece and Spain) over the cliff. They will end up trashing Germany as well, once there are no weaker economies to pick off, unless someone stops them. Reckless lending and predatory speculation, which Dr. Hudson calls “casino capitalism”, have been not liberating, but ENSLAVING. Libertarian economic policies, in other words, have led to the very serfdom their crapagandists claim to decry.

And on that note, welcome to another new category on my blog. I’m calling this one EuroPeons, since the Eurozone may end up full of them before too long!

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This entry was posted in Confessions of a Bad German, Economics for Dummies, EuroPeons, Greek Salad, Isn't It Ironic?, Isn't That Illegal?, Under the Name of Spain. Bookmark the permalink.