Thursday, July 14, 2011

Related to economic issues, work and labour, and poverty issues in the Connexions Online Library.

One of the more recent articles featured on the Connexions website under the Connexions resource centre: Focus on economy, poverty, and work is A World at Financial War by Michael Hudson. This article was posted on June 6, 2011.

This article's main focus is on whether or not Greece will let the EU Central Bankers destroy democracy, and it takes us back to Greece's transition towards using the Euro in 2000. The main issue of "whether Europe should succumb to centralized planning" is the main focus of this article.

The crisis for Greece – as for Iceland, Ireland and debt-plagued economies capped by the United States – is occurring as bank lobbyists demand that “taxpayers” pay for the bailouts of bad speculations and government debts stemming largely from tax cuts for the rich and for real estate, shifting the fiscal burden as well as the debt burden onto labor and industry. The financial sector’s growing power to achieve this tax favoritism is crippling economies, driving them further into reliance on yet more debt financing to remain solvent.

Other headings that this article includes, and discusses are: promoting the financial sector at the economy’s expense, the Greek budget crisis in perspective, the intellectual deception at work, paying higher interest for higher risk, while protecting banks from losses, and making governments pay creditors when banks run aground.

To read the full article go to: http://www.connexions.org/CxL-ECO.htm

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