Thread: The people of Ireland, Greece, Spain, and Portugal "get

The Irish "get it"

Politics / Economic Austerity
Nov 28, 2010 - 06:14 AM

By: Michael_T_Bucci

The people of Ireland "get it". The people of Greece, Spain, and Portugal "get it". It's the American who doesn't. What do they "get"? They realize the austerities imposed upon them are to shield, protect and defend the profits of the bankers, the traders, the market speculators, hedge funds, bond holders and entire investment class who will suffer little if at all from their market loses - the people will bear their loses.

The American will blame the poor, the food stamp recipient, the welfare queen, the non-working non-taxpaying "bum" for conditions that have been perpetuated by the current and past administration in league with the wealth and multinational sectors. Their crimes are against all people and against the state, crimes that continue to go unchecked, immune from prosecution and concealed by America's ruling class and mass media who are now fully in the saddle after the elections of November 2.

The Irish have more at stake. As the Irish Times explained on November 18, "Having obtained our political independence from Britain to be the masters of our own affairs, we have now surrendered our sovereignty to the European Commission, the European Central Bank, and the International Monetary Fund."

Speaking of the men who died in 1916, The Irish Times asked: "Was it for this?"

The Irish "get it". When will the American?

When enough people "get it", this savage raping and looting of Western societies for the benefit of "capital" will be stopped and turned on itself - for extremes produce opposite extremes, very often after sad, tragic and bloody conflict.

Will the American see through the Iron Curtain its media has erected against the plain and simple truths behind the meltdown, who caused it and who is to blame? Behind the bail-outs and who was made richer and who poorer? The alert American should keep his or her eyes on Ireland, Europe and Great Britain; for, beginning soon, "austerity" (IMF style) will be arriving here. The investor class - being the determining factor in whether nations sink or fall, whether people eat, starve, live or die - will dictate those terms. But the investment class will bask for only a short duration in this, its "last hurrah". For enough of the people inevitably will "get it". There promises to be little mercy for the wealthy in the end. Do the wealthy "get it"?

For today, the Greek, Spanish, Portuguese and Irish do. Will ever the American ever "get it"?

By Michael T Bucci

http://www.marketoracle.co.uk/Article24611.html

The Double Edged Sword of Euro-zone Debt Crisis and Unrest in Korean Peninsula

Currencies / Global Debt Crisis
Nov 28, 2010 - 12:38 PM

By: Bari_Baig

Two perfect storms seem to be brewing up fast, one in Far East and the other in Western Europe with both having the potential of becoming category 5 storms[Maximum rating for a storm] and at their mercy lies the global investment world. These storms are bigger and meaner and their head on collision with one another is expected to take place sometime this coming week. Each storm system has a different impact on majority of the investments however; there is one exception and that being of Euro’s fate.

There is a growing concern that Irish Bank Bailout by the IMF and EU is going to be at a premium from that of Greece bailout in May, which would cause a massive selloff in the bonds market however, it is not the threat of a [massive selloff] in the bond markets which we are worried about but to us the classic rule of “Buy on Rumor and Sell on Factâ€