Archive | European Economy

The Cannibalistic Way to Make Money

The foundations for a new kind of economy are being laid, but the “new normal” bears little resemblance to what is being discussed by the “authorised” opinion makers. Debate still rotates around the theories that were tested to destruction in the run-up to the 2008 débâcle. The black hole in public knowledge will lead to […]

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EU’s biggest Ponzi scheme

The Greek tragedy should be studied for what it tells us about the way governments administer affairs in the EU countries. The policies favoured by the troika of creditors are worse than the deal offered by highway robbers. The deal offered by robbers had a pay-off of sorts: “Your money or your life”. But the […]

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The Coming Euro Crash

It is now too late for Europe to avoid a major implosion. Happen it must, because policy-makers have locked the economy into a death spiral. No, it need not happen. There is an escape route, but the blueprint is ostracised by the power-brokers; for now. If Europe was conforming to the post-recession pattern, its economy […]

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The Suicide of Europe

What comes to mind when you picture Europe’s politicians and policy wonks? I think of the gadarene swine who commit suicide by jumping into the sea. Or the lemmings who rush to the cliff’s edge… But why do they insist on dragging the rest of us down with them? Through their influence on the global […]

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The Canutes of Europe

Critics urge that the euro should be scrapped. Or, at least, the euro-zone should be broken up – either excluding the strongest member (Germany) or the weakest member (Greece). All options, unfortunately, are framed from within an economic paradigm which, one way or another, will lead to further disasters in Europe. The latest plan is […]

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Fiddling the Books Athens-style

It’s Athens, rather than Rome, that’s burning as the politicians fiddle. But this time we are likely to see other capitals going up in flames before the final dénouement of this Depression. And yet, it need not have happened; and nor are the horrors of the coming years inevitable. The corruption of the Greek way […]

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Into the Depression

WHEN I wrote Boom Bust in 2005, I used the word “depression” with care. What was going to happen would not be a recession. What we see unfolding, now, is the beginning of the mid-way phase of the depression. Prepare for the violence, in all its forms, in the Age of Austerity. Instead of adopting […]

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