The Greek Tragedy and Great Depression Lessons Not Learned

[polly7]

The Greek Tragedy and Great Depression Lessons Not Learned
By Nomi Prins

Source: Nomiprins.comThursday, February 23, 2012

http://zcommunications.org/the-greek-tragedy-and-great-depression-lessons-not-learned-by-nomi-prins

"Greece has been the most pillaged country in Europe this Depression, among other reasons, because no one in any leadership position seems to have learned lessons from the 1930s. Plus, banks have more power now than they did then to call the shots.

Despite no signs of the first bailout working – certainly not in growing the Greek economy or helping its population - but not even in being sufficient to cover speculative losses, Euro elites finalized another 130 billion Euro, ($170 billion) bailout today. This is ostensibly to avoid banks’ and credit default swap players’ wrath over the possibility of Greece defaulting on 14.5 billion Euros in bonds.

Bailout promoters seem to believe (or pretend) that: bank bailout debt + more bank bailout debt + selling national assets at discount prices + oppressive unemployment = economic health. They fail to grasp that severe austerity hasn’t, and won’t, turn Greece (or any country) around. Banks, of course, just want to protect their bets and not wait around for Greece to really stabilize for repayment.

Prior to the Great Depression, the Greek economy experienced years of growth, a healthy commercial activity spree, and like today, a stark increase in (less-leveraged) bank loans to finance it. When the Depression struck, banks and local businesses faced unpayable loans and declining asset values. (Stop me when this sounds familiar)."...........

[magical thyme]

1. I think the lessons were learned quite well

The wrong lessons, maybe, but well learned.

They are deliberately destroying Greece. It is a lovely country with lovely beachfront property, lovely climate, beautiful islands.

Too good for the Greek people.

The 1% want it for a playground. They will starve out a large portion of the population, allow the "able-bodied" to survive as slaves, buy up the land assets for pennies, turn it into a playground for themselves.

Suddenly their "stupidity" makes sense.

[CAPHAVOC]

2. Answer

CDS players. End of story.

[xchrom]

3. Du rec. Nt