This analysis continues on from my last articlein light of the recent French and Greek elections where voters rejected economic austerity in favour of money printing Inflation stealth debt default as politically an smoke and mirrors Inflationary depression is being seen as far more palatable for populations than a deflationary depression slow motion economic collapse. However to be able to print money inline with the true state of the respective competitiveness of euro-zone economies, then these countries governments have no choice but to exit the euro-zone, or be forced out as they one by one fail to follow through on agreed austerity measures.
Greece Slow Motion Economic Collapse in Progress
What may be lost in the noise that is the mainstream press is the fact that Greece has not been in a recession or even a depression, Greece has been in a state of slow motion economic collapse on the scale of past economic collapses such as that of Argentina but so far without the ability to default, devalue and inflate.
As the below graph illustrates that following the financial crisis of 2008, Greece had been following a similar economic trend trajectory to that of most western economies including that of the UK, US and Germany, however the real crisis began in late 2009 when the economic recovery from the pit of the Great Recession of 2008-2009 evaporated and the Greek economy began a slow motion collapse that has so far seen Greek GDP in real terms contract by 16% since the 2008 peak, with no end in sight Unlike the V shape of the more regular debt default economic collapses such as that of Argentina’s of 2001 and more recently Iceland.
full article at source: http://www.marketoracle.co.uk/Article34625.html
Sent in to us this morning
America‘s true reason for intervention, and missile attacks against
Libya has become very clear today with a sudden creation by the rebels of a new
central bank on March 29th.
The rebels in Libya are in the middle of a life or death civil war and Moammar
Gadhafi is still in power and yet somehow the Libyan rebels have had enough
time to establish a new Central Bank of Libya and form a new national oil
company. Perhaps when this conflict is over those rebels can become time
management consultants. They sure do get a lot done. What a skilled bunch of
rebels – they can fight a war during the day and draw up a new central bank and
a new national oil company at night without any outside help whatsoever. If
only the rest of us were so versatile! But isn’t forming a central bank
something that could be done after the civil war is over? According to
Bloomberg, the Transitional National Council has “designated the Central
Bank of Benghazi as a monetary authority competent in monetary policies in
Libya and the appointment of a governor to the Central Bank of Libya, with a
temporary headquarters in Benghazi.” – The Economic Collapse via Uruknet
Continue reading on Examiner.com America’s true reason for attacking Libya becomes
clear with new central bank – National Finance Examiner | Examiner.com
I don’t find myself in agreement with the general thrust of this article but I do respect the
possibility of some truth in it as we all know that America always looks out for itself and its interests first. Just look over at Bahrain and Saudi Arabia the democracy movement was crushed and Saudi Arabian forces invaded Bahrain and nobody in the west said anything indeed the news media just went silent. There are still reports seeping out about torture and summary executions and the world media are ignoring these reports why because Saudi Arabia in the American sphere of interest and is a no go area for the established media that is mostly controlled by American interests !
Take a look of a simple for the actions of the government in this country