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Monday, January 26, 2015

All the Tsipras that the lamestream media continues to hide from you


They love calling him a "radical communist", but they don't love giving Tsipras even 30 seconds to speak his mind. Instead they'd rather quote neofascists like Weidmann and ignorant propagandizing clowns like George Osborne.

Can't let the commie speak directly to the people of the world, can we? I mean, they might listen to him!

So here's a couple Tsipras quotes for you that the lamestream media has never bothered to print:

"There are no winners and losers. Those who have been defeated are the elite and oligarchs, the vested interests that destroyed our country.”

and

"The verdict of the Greek people, your verdict, annuls today in an indisputable fashion the bailout agreements of austerity and disaster."

And meanwhile, here's Kruggie's take on the whole affair:

Krugman - Greece has already gone through a 16% internal devaluation. And they've had to because they don't own their currency, and Germany has no interest in inflating their own internal economy to rebalance flows. Oh, and because the EZ is a currency union with no internal fiscal transfers, unlike real monetary unions like Canada.

Basically, the oligarchs know they screwed up, and are prepared to do whatever it takes to paper it over for as long as they can, til they can move all their money to a new offshore tax haven.


Krugman - they call Syriza "radical". But the real radicals were the EZ officials who ignore basic economics. Quote:
As we head for the big Greek face-off, Francesco Saraceno makes a point I’ve also made on a number of occasions: although many of the press reports describe Syriza as “far-left”, it’s actually preaching fairly conventional economics, while the supposedly responsible officials of Brussels and Berlin have been relying on radical doctrines like expansionary austerity and a growth cliff at 90 percent. The same has to a certain extent been true in the US context.

Once again: textbook macroeconomics says that focusing on deficit reduction in a depressed economy, where the zero lower bound constrains the effectiveness of monetary policy, is a very bad idea. And although nobody will believe it, textbook macro has actually been a very good guide to the economy since the financial crisis, as Jared Bernstein also emphasizes.

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