Friday Movie Night - Debtocracy

hot buttered popcorn It's Friday Night! Party Time!   Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

 

Tonight's video is a documentary on the Greece debt crisis. It's a view from the Populist, not the IMF, the ECB, EU or the banks and it also gives a history on what has been happening as finance controls the globe and countries power and labor power is eroded.

 

Debtocracy

 

Here is the debtocracy website:

For the first time in Greece a documentary produced by the audience. “Debtocracy” seeks the causes of the debt crisis and proposes solutions, hidden by the government and the dominant media.

The documentary is complete with quotes from the IMF's Dominique Strauss-Kahn, who has been charged with attempted rape. Think about that in the context of this documentary. From Wikipedia article:

The documentary traces the roots of the Greek debt back to the revolution of 1821 and the British loans that were issued. The documentary also points out to the fact that Greece, in its 190 years of existence, has only lent money once, during the German occupation of Greece, and has always been the recipient of loans in all other instances. The documentary asserts that the current debt of Greece is due to the creation of a welfare state in the 1980s and the nationalisation of failing private companies, the systematic failure of the state to tax fairly, the restrictions of the Maastricht treaty, the new loans that were issued to pay older debts and the current economic policies of Greece, the IMF and the ECB, which will result to an even higher debt, equal to 167% of the country's GDP in 2013.

We know the title is Friday night and it's Sunday morning, but right at this moment, we have the Greek debt crisis coming to a boil and you will not see the information presented in this documentary in any American media. Watch it!

Dailymotion has more subtitle options, but their embedding was flaky. This link is an alternative for viewing.

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Comments

this is a must watch documentary

Nowhere is how this "debt crisis" and "austerity" explained on the press. How exactly did all of these countries magically overpay their workers and have too much social programs resulting in debt?

Now that does not deny the problems in Greece, but that's not the same thing as austerity demands.

So, in spite of our weekend series, this week we're going "out of order" because we've found some real important gems over the weekend. Information more important that the post sequence I think.

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Krugman calling for Greece Debt Restructuring

Finally, the reality hits home on just how much money this is and how it will kill Greece to repay it all. Krugman Op-Ed.

Nobody bought into the doctrine of expansionary austerity more thoroughly than Jean-Claude Trichet, the president of the European Central Bank, or E.C.B. Under his leadership the bank began preaching austerity as a universal economic elixir that should be imposed immediately everywhere, including in countries like Britain and the United States that still have high unemployment and aren’t facing any pressure from the financial markets.

Folks, do you realize what happens in Greece comes to America? This is why it's such a big deal, we are getting, through things like Paul Ryan's "plan" very similar agendas....believe me, these whoever they ares really are out to destroy any social safety nets, period, privatize everything and the U.S. has a massive deficit also.

Privatization, short term, is enormously profitable for banks, us, not so much.

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Removing the Spin

Well said. What I find frustrating is how even not just sensible pundits but also sensible political figures (even if clearly running on a Democratic ticket and so “partisanship” is ok), talk of the Plutocracy programs as “Ideology” – giving the proposals and programs the façade
of “opinion” or “ideology’ (e.g. “small government”). In fact, the spin applied to those programs (even to their Orwellian titles e.g. the House’s ‘Repeal of JOB KILLING Health Care”) is nothing more than a cover to hide the real intent –
Privatization, Elimination of Regulation (including Environmental), more tax
breaks for the wealthy, etc. Call it out for what it is. Thankfully we’re seeing a LITTLE of that on the Ryan Plan; yet even there it’s been timid and has been led more by the electorate.

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