Thursday, 2 May 2013

Debt Reduction Leads To Debt Increase!!

     It's amazing how the fascist Troika stepped in, in 2011 with a cure to sort out Italy's debt and economic woes. It swept aside the elected government, installed a technocrat, “economic expert” Mario Monti, to rule according to their dictates. Severe debt reduction “austerity measures“, large lay-offs, wage freeze/cuts, the usual savage attack on the living conditions of the ordinary people, pushing Italy towards that corporate dream of a sweatshop economy. Now here we are in 2013 and according that other bunch of “economic experts”, the Organisation for Economic Cooperation and Development, Italy is now in a worse state than when the fascist Troika stepped in, in 2011. When Magic Monti stepped in Italy's debt was 120.8% of GDP, with the expertise of the Troika at the helm, it is expected to reach 131.5 for 2013 and up again to 134.2 for 2014. So many “experts” getting it so wrong, all that has happened is that the public purse has been plundered, slashing living conditions, and the coffers of the financial mafia have been enhanced. This rising debt is another excuse to introduce even more severe “austerity measures”, slash public spending and raise taxes. Of course to you and I, that looks like a failure, but to the corporate world, everything is going fine. Another country in Europe is going the road of Greece, heading for deprivation, fertile ground for a sweatshop economy, to rival those similar conditions else where in the world. To corporate Europe, the only way to compete with Eastern sweatshops is to slash wages and conditions here in Europe, and they are well on the way, with Greece, Spain, Portugal. Ireland, Cyprus and Italy all on the rapid conveyor belt to deprivation, with other countries gaining momentum in the same direction.
     How far they will get with their profit crazed dream, will depend on you and I. Do we struggle to get them to slightly modify their desire for our deprivation, asking for a little bit better deal for us? Or do we realise that it is impossible to have “compassionate capitalism” and start to dismantle this exploitative greed driven system and create an economic system based on the needs of all our people? We have the resources, we have the numbers, we have the ability and imagination, I know we have the desire, all we are lacking is the will to start.

ann arky's home.

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