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Index October 2012

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2012-10-01: Europe’s Protests: The Times’ False Impartiality Toward Markets and Austerity;
2012-10-02: German bank reform: The axeman cometh;
2012-10-03: Steinbrück promises fun election with jokes;
2012-10-04: Proposed Split of Large Institutions Fight Looms Over EU Plans for Bank Reform;
2012-10-05: On Manichean Worldviews and Effecting Change;
2012-10-06: European Union demands further cuts in Greece;
2012-10-07: around our Capitalism’s Crisis;
2012-10-08: Introduction to The Evil Axis of Finance;
2012-10-08: Ihr lernt das, was Ihr wissen dürft;
2012-10-09: Eric Hobsbawm, great Marxist historian who kept his cool;
2012-10-09: Lust auf neues Geld?
2012-10-10: Thin men acting in small worlds;
2012-10-11: Europe Starts $648 Billion Aid Fund, Rules Out Immediate Use;
2012-10-11: Fiskalpakt, ESM, Abschaffung der Demokratie;
2012-10-12: Slums contribute most to city’s economy but continue to remain eyesores;
2012-10-13: Growth Warning: Top German Economists Say Greece Is Lost;
2012-10-14: Oil Industry Fights Global Progress on Revenue Transparency with Lawsuit Against U.S. Disclosure Regulations;
2012-10-15: some economic links;
2012-10-16: The Zeitgeist Movement TZM – Global Radio;
2012-10-17: Crisis and resistance intensify in Europe;
2012-10-18: New Powers for Brussels: Germany’s Schäuble Presents Master Plan for Euro;
2012-10-19: The lure of apprenticeships in times of crisis;
2012-10-20: Join the Blockade of the Keystone Pipeline;
2012-10-21: German Economy and European Crisis;
2012-10-22: What caused the Greek export surge?
2012-10-23: Asia-Pacific: Quality and quantity of jobs dropping;
2012-10-23: Die Banken müssen schrumpfen;
2012-10-24: Austerity and Counter-Austerity in Britain;
2012-10-25: Money As Debt;
2012-10-26: Political Economics;
2012-10-26: MONETATIVE – Tagung/Conference;
2012-10-27: … what have they done to my money, ma … ;
2012-10-28: The Ferrari-Red Communists: China at a Crossroads in Shift from World’s Factory to Industrial Power, Part 1;
2012-10-28: Gregor Gysi;
2012-10-29: Who Owns the World?
2012-10-30: Greece, Portugal, Spain: EU South on General Strike, Nov 14/2012;
2012-10-30: Pourquoi on ne s’en sort pas: l’Obstination;
2012-10-31: TPP – and a Defense of Marx On Trade.

TPP – and a Defense of Marx On Trade

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Published on political affairs PA, by John Case, Oct. 25, 2012.

Once again the US Left – broadly defined, including a range from the Sierra Club to the Communist Party – is getting ready to oppose a new trade agreement covering many pacific rim nations and peoples.  The Trans-Pacific Partnership TPP negotiations, launched in 2007, and strongly supported by the Obama administration, is envisioned as a new and much expanded multilateral free trade agreement.   Continue Reading…

Pourquoi on ne s’en sort pas: l’Obstination

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Publilé dans Alternatives Economiques, par Thierry Pech, septembre 2012.

Souvenez-vous : “Si la gauche est élue, les marchés financiers feront exploser les taux d’intérêt sur la dette française.” C’était il y a un peu plus de cent jours. Depuis, la gauche a été élue, mais la main vengeresse des marchés ne s’est pas abattue sur l’Hexagone. Mieux : à la surprise générale, la France a emprunté à court terme à taux négatifs ! Dit autrement, des investisseurs ont payé l’Etat français pour qu’il garde leur argent.   Continue Reading…

Greece, Portugal, Spain – EU South on General Strike, Nov 14/2012

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Published on Keep Talking Green, by keeptalkinggreece, not dated.

… So far trade unions in Greece, Portugal and Spain have called for a general strike on that day, while there is informatin that also trade unions in France, Italy, Belgium, Malta and Cyprus will join the Pan-European mobilization whilst apparently more with solidarity actions than with general strikes.

ETUC day of action and solidarity for a Social Compact for Europe – Declaration adopted by the ETUC Executive Committee at their meeting on 17 October 2012:   Continue Reading…

Who Owns the World?

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Watch this video, 13.59 min, published on ZNet, by Noam Chomsky, October 27, 2012: In the week when President Obama and Republican presidential hopeful Mitt Romney debated issues of foreign policy and the economy, we turn to world-renowned political dissident, linguist, author and MIT professor, Noam Chomsky. In a recent speech, Chomsky examined topics largely ignored or glossed over during the campaign: China, the Arab Spring, global warming, nuclear proliferation, and the military threat posed by Israel and the U.S. versus Iran. He reflects on the Cuban missile crisis, which took place 50 years ago this week and is still referred to as “the most dangerous moment in human history.” He delivered this talk last month at the University of Massachusetts in Amherst at an event sponsored by the Center for Popular Economics. Chomsky’s talk was entitled “Who Owns the World?” (full video).  Continue Reading…

The Ferrari-Red Communists: China at a Crossroads in Shift from World’s Factory to Industrial Power, Part 1

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Published on Spiegel Online International, by Erich Follath and Wieland Wagner, Oct. 26, 2012 (Photo-Gallery).

The Chinese are seen as victors in the global financial crisis, and as both a hope and a threat to German industry. Beijing wants to be more than the world’s factory. But the country’s economic engine is showing signs of stalling and it is uncertain what direction it will take in the future … // Continue Reading…

… what have they done to my money, ma …

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videos in german/auf deutsch:

Siehe auch: MONETATIVE – Tagung/Conference.

MONETATIVE – Tagung/Conference

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Sa Oktober 27, 2012, 14.00 – 20.00 h, Urania, Berlin-Tiergarten, An der Urania 17: – /Tagung in Kooperation mit der Urania Berlin: Neue Geldordnung – Ausweg aus der Euro-Schuldenmisere – Programm: … Anmeldung/registration: Urania Berlin, oder/or Tel. (+49) (030) 218 90 91 … //

  • … Sich kaputt sparen oder sich weiter kaputt verschulden, ist das wirklich die Frage? Die Politik hält den Staat in einseitiger Abhängigkeit von den Banken, anstatt die unsolide Geldschöpfung der Banken zu beenden und der unabhängigen staatlichen Zentralbank die uneingeschränkte Kontrolle über das Geld zurück zu geben.
  • Neues schuldenfrei emittiertes Geld käme dann dem Staatshaushalt zugute. Über die Hälfte der Staatsschulden ließe sich so abbauen. Bei dieser Tagung diskutieren engagierte Experten zusammen mit dem Publikum
  • Perspektiven einer soliden, gerechten und nachhaltigen Geld- und Finanzarchitektur … //

Statements:   Continue Reading…

Political Economics

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Published on Real-World Economics Review RWER Blog, by Peter Radford, Oct. 24, 2012.

Like everything in America the economics profession is deeply politicized. The chasm that divides the two sides of the cultural war is mirrored exactly by two sides equally entrenched in economics. This means that nothing an economist says can be taken at face value. The entire profession is now bogged down, failing to move forward, and has lost all pretense of being scientific.   Continue Reading…

Money As Debt

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  • Video: Paul Grignon’s animated presentation, 47.08 min, uploaded by  RadioIlluminaticom, May 9, 2012: … tells in very simple and effective graphic terms what money is and how it is being created …
  • Money as Debt … in Spanish, 47.07 min, uploaded by propan0, April 29, 2011;
  • Money As Debt II: promises unleashed (FULL MOVIE), 76.46 min; uploaded by LivingDead221, April 3, 2011: Paul Grignon’s second presentation of “Money as Debt” tells in very simple and effective graphic terms what money is and how it is being created. It is an entertaining way to get the message out. The Cowichan Citizens Coalition and its “Duncan Initiative” received high praise from those who previewed it. I recommend it as a painless but hard-hitting educational tool and encourage the widest distribution and use by all groups concerned with the present unsustainable monetary system in Canada, the United States and in whole Europe.  Continue Reading…

Austerity and Counter-Austerity in Britain

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Social Protest Movements and Political Organizing On the Rise – Published on The Bullet #714, by Roger Annis, October 22, 2012.

Britain is in the throes of a deepening class struggle prompted by attacks on social and democratic rights by the capitalist class. The economic elite is pressing forward with an austerity program of ever-deepening cuts to jobs and social services. A coalition government of Conservatives and Liberal-Democrats has been in power for the past two years and has cut billions of dollars from public services. With the country mired in economic stagnation, the two parties are aiming to cut billions more in government spending, most notably in the social sphere.  Continue Reading…

Die Banken müssen schrumpfen

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die Superbanken sind immer noch viel zu groß, sagt die Ökonomin Susanne Schmidt im Tagesspiegel-Interview. Die geplante EU-Bankenaufsicht will sie noch nicht loben – in Zeit Online, von Henrik Mortsiefer, 22. Oktober 2012.

Frage: Frau Schmidt, liegt das Gröbste der europäischen Schuldenkrise hinter uns?

  • Susanne Schmidt: Mir scheint, in den vergangenen Wochen hat sich die Lage tatsächlich ein wenig beruhigt … // Continue Reading…

Asia-Pacific: Quality and quantity of jobs dropping

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Published on International Labour Organization ILO, by , Oct. 22, 2012.

HANOI (ILO News) – Economic growth has slowed down in many Asia-Pacific countries, affecting labour markets both in terms of the quantity and the quality of jobs available, according to an ILO report.

The October 2012 Asia-Pacific Labour Market Update, says jobs growth in the region has slowed down compared to 2011, although the situation varies greatly among countries.  Continue Reading…

What caused the Greek export surge?

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Published on RWER Blog, by Merjin Knibbe, Oct. 20, 2012.

The regular reader of this blog has for quite some time been aware of the spectacular surge in Greek export. At this moment, people start to pose the question ‘what caused this surge?’. Low wages? Of all (average) EU wages Greek wages declined the most by a long shot (also on this blog). Or was it caused in a ‘modern’ way (well, modern – let’s say the post 1830 way), by investments in technology and production and organization and markets and people – a strategy favoured on this blog by commentors as well as bloggers? The verdict is out and could not be clearer – at least if the data are dependable. Ronald Janssen investigated the composition of Greek exports. And the surge is led by ‘Mineral fuels, lubricants and related materials’, about the most capital intensive sector you can think of. What we need, in the Eurozone, is not savings and cuts – but investment. Savers are afraid of the future. Investors create it … (full text and chart).   Continue Reading…

German Economy and European Crisis

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Watch this video, 10.51 min, uploaded by TheRealNews, Sept. 26, 2012: German Left Party Vice-President Wagenknecht on wage repression in Germany and the European Stability Mechanism (spoken in german, subtitled in english).

Links:   Continue Reading…

Join the Blockade of the Keystone Pipeline

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Published on ZNet, by Chris Hedges, Oct. 17, 2012.

The next great battle of the Occupy movement may not take place in city parks and plazas, where the security and surveillance state is blocking protesters from setting up urban encampments. Instead it could arise in the nation’s heartland, where some ranchers, farmers and enraged citizens, often after seeing their land seized by eminent domain and their water supplies placed under mortal threat, have united with Occupiers and activists to oppose the building of the Keystone XL tar sand pipeline.  Continue Reading…

The lure of apprenticeships in times of crisis

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Published on International Labour Organization ILO, Oct. 15, 2012.

GENEVA (ILO News) – Determined to avert the rise of a lost generation, the world is increasingly looking to apprenticeships as a silver bullet against the global youth jobs crisis.

Any solution obviously would be complex but the renewed focus on apprenticeships and their job-creation potential is welcome at a time when 75 million young men and women are unemployed.

Good apprenticeships provide young people with the skills they need to enter the marketplace and match the supply of skilled labour to the needs of employers. They can help reduce the incidence and duration of unemployment, while supporting economic growth.  Continue Reading…

New Powers for Brussels: Germany’s Schäuble Presents Master Plan for Euro

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Published on Spiegel Online International, Oct. 16, 2012.

German Finance Minister Wolfgang Schäuble is determined to end the euro crisis once and for all. On Sunday he effectively ruled out a Greek bankruptcy, and is now proposing far-reaching reforms to stabilize the currency union. Under his plan, Brussels would be granted far greater powers over national budgets … // Continue Reading…

Crisis and resistance intensify in Europe

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Published on Socialist, by JONAH BIRCH AND ALAN MAASS, October 16, 2012.

THE ECONOMIC crisis wracking Europe–particularly the countries concentrated in the south that have borne the brunt of a catastrophic debt crisis–is producing dramatic new confrontations between governments and financial officials intent on imposing further austerity and masses of working people.

The growing tensions are shaking the foundations of the Eurozone–the 17 countries that use the euro as their currency–and the European Union, with implications that will be felt around the world.   Continue Reading…

The Zeitgeist Movement TZM – Global Radio

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Watch this video, 55.25 min, uploaded by TZMOfficialChannel, Oct 10th 2012, Host: Jen Wilding [The Zeitgeist Movement]: … this show is a panel of US state coordinators in a two-part discussion of the TZM chapter structure, activism, challenges and how we relate to other organizations …


The Zeitgeist Movement TZM:

Watch these 2 videos on YouTube, uploaded by CGPGrey (C.G.P. Grey’s channel/London, complex things explained:

some economic links

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Oil Industry Fights Global Progress on Revenue Transparency with Lawsuit Against U.S. Disclosure Regulations

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Published on Earth Rights International, Oct. 12, 2012, (found via Humanitarian News).

In an attempt to turn back worldwide progress on mandatory transparency requirements, the oil industry took a swing this week at a U.S. law that requires extractive companies to publish the payments they make to governments. In a lawsuit filed in the federal courts in the District of Columbia on Wednesday, the American Petroleum Institute API and other trade associations are seeking to strike down the law and the rules that implement it, insisting that mandatory disclosure is unconstitutional, arbitrary and capricious.  Continue Reading…

Growth Warning: Top German Economists Say Greece Is Lost

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Published on Spiegel Online International, by cgh — with wire reports, October 11, 2012.

Several top German economic institutes on Thursday warned that German growth is slowing as the country continues to be hampered by the ongoing euro-zone debt crisis. And Greece, they say, will be unable to “free itself from its debt burden” and will need another haircut … //

… Bad News for Germany and Europe:  Continue Reading…

Slums contribute most to city’s economy but continue to remain eyesores

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Published on Socio Research and Reform Foundation SRRF, by team, Oct. 9, 2012.

Slums are part and parcel of most cities. In fact in India slums cover 30-50% of the population. Different governments have tried to solve the problem of slums in their own ways, for example, Madhya Pradesh started with grant of tenure or ‘’patta’’, hoping that entitlement to ‘title’ would give access to essential services. Similarly, the UP government has declared allotting of free houses to BPL families and have declared that the scheme would allot homes in 60 different towns and cities of UP. Problem is that most schemes, however, have seldom crossed the realm of political rhetoric. Funds are too meagre and the numbers who benefit are always far too small than needed and hence really not replicable.  Continue Reading…

Fiskalpakt, ESM, Abschaffung der Demokratie

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Linked with today’s Europe Starts $648 Billion Aid Fund, Rules Out Immediate Use, with Ihr lernt das, was Ihr wissen dürft; and with Lust auf neues Geld? – Find Andreas Popp on YouTube – exemples:

  • Widerstandsrecht gegen Fiskalpakt und ESM, mit Andreas Popp, 18.55 min, von WissensmanufakturNET, am 23. Juni 2012 aufgeladen;
  • ESM: Abschaffung der Demokratie, mit Andreas Popp, 13.35 min, von MrInfokrieg, 12. Sept. 2011.
  • Sahra Wagenknecht zum Fiskalpaket/ESM, 14.14 min, auf Hetzenjagd am 30. Juni 2012 aufgeladen: Sahra Wagenknecht hälz einer ihrer besten und überzeugendsten Reden im Bundestag und warnt die Heuchler aus der SPD und die dem Kapitalvirus Verfallenen aus der Koalition von CDU/CSU-FDP davor, nicht für den Fiskalpakt zu stimmen … (mein Kommentar: und natürlich haben die Volksvertreter mit ja dieser Schande zugestimmt. Aber ich blamiere hauptsächlich das Volk, welches sich immer wieder von neuem einlullen und Angst machen lässt mit dummen Sprüchen zu Fakten, welche längst wiederlegt sind. Haben wir also diese Diktatur gemeinsam verdient? Nun, wir haben sie mitgeschaffen, indem wir Vertreter wählen, welche ja dazu sagen).  Continue Reading…

Europe Starts $648 Billion Aid Fund, Rules Out Immediate Use

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Published on Bloomberg, by James G. Neuger and Stephanie Bodoni, Oct. 8, 2012 – European governments set up a full- time 500 billion-euro ($648 billion) fund to aid debt-swamped countries and, not for the first time in the three-year crisis, expressed confidence that the extra financial muscle won’t be needed anytime soon. Finance ministers from the 17 euro countries declared the European Stability Mechanism ESM operational, while saying that Spain, its biggest potential near-term customer, isn’t on the verge of tapping it. Decisions were also put off on Greece’s next aid payment and on an assistance program for Cyprus … (Linked with today’s Fiskalpakt, ESM, Abschaffung der Demokratie).

  • Video: ESM – The New European Dictator, 3.51 min, on YouTube (spoken in german, subtitled in english), uploaded by chich234, Oct. 23, 2011: On 11 July 2011 a new European treaty has been signed. You probably haven’t heard of it. It has not been in the news. Incredible, but true!   Continue Reading…

Thin men acting in small worlds

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… or why economic models are both unreal and irrelevant - Published on RWER Blog, by Lars Syll, Oct. 7, 2012.

In The World in the Model (reviewed here) Mary Morgan characterizes the modelling tradition of economics as one concerned with “thin men acting in small worlds”‘ and writes:

Strangely perhaps, the most obvious element in the inference gap for models … lies in the validity of any inference between two such different media – forward from the real world to the artificial world of the mathematical model and back again from the model experiment to the real material of the economic world. The model is at most a parallel world. The parallel quality does not seem to bother economists. But materials do matter: it matters that economic models are only representations of things in the economy, not the things themselves.

Now, a salient feature of modern neoclassical economics is the idea of science advancing through the use of “successive approximations”. Is this really a feasible methodology? I think not.  Continue Reading…

Lust auf neues Geld?

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Video: Vortragsreihe, 20.18 min: längerer Zusammenschnitt der Veranstaltung “Lust auf neues Geld?” in der Arena in Leipzig vom 09. Juni 2012:
Webseite: Lust auf neues Geld – Finanzkrise, Arena Leipzig.

Beilspiele der aktuellen Mainstream-Antworten auf diese Thematik:  Continue Reading…

Eric Hobsbawm, great Marxist historian who kept his cool

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Published on People’s World, by Norman Markowitz, October 3, 2012.

I was saddened to hear of the death of Eric Hobsbawm, one of the great Marxist historians writing in the English language of my lifetime. Hobsbawm died Oct. 1 in London at age 95 … // Continue Reading…

Ihr lernt das, was Ihr wissen dürft …

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Ihr lernt das, was Ihr wissen dürft … und nicht das, was Ihr nicht wissen solltet. Ganz einfach

Siehe dieses Video, 128.48 min, von MainstreamSmasherTV, am 15. Januar 2012 auf YouTube aufgeladen: Wissen, welches normalerweise nicht an Schulen gelehrt wird und oft nicht gehört werden will;

Siehe auch:

Introduction to The Evil Axis of Finance

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The US-Japan-China Stranglehold on the Global Future – Published on Dissident Voice, by Richard Westra, October 6, 2012.

… The capitalist economy may appear to be orchestrated with an “invisible hand,” to take Adam Smith’s much used metaphor, or to function like a “fetish,” endowed with extra human powers before which we prostrate ourselves, as Karl Marx famously put it. But ultimately it is our human agency or the purposive actions of real people that set “the economy” in motion. This basic understanding then permits us to easily envision human agency of other sorts stopping Smith’s hand dead and discarding the fetish along with our habit of prostration, freeing us to transform our economic life in fashions which better engender genuine human flourishing.  Continue Reading…

around our Capitalism’s Crisis

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Watch these videos:

European Union demands further cuts in Greece

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Published on World Socialist Web Site WSWS, by Christoph Dreier, October 5, 2012.

Last weekend, representatives of the troika—the European Central Bank (ECB), European Commission (EC) and the International Monetary Fund (IMF)—returned to Athens to discuss a third package of budget cuts with the Greek government.

Officially, the troika has the task of preparing a report on Greece’s budgetary situation for the European Union (EU) and IMF as the basis for agreeing to a further bank bailout to Greece’s creditors, amounting to €31.5 billion (US$41.6 billion).  Continue Reading…

On Manichean Worldviews and Effecting Change

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Published on naked capitalism, by Yves Smith, Sept. 27, 2012.

Aside from the rise of concerted trolling (which Barry Ritholtz discusses in a post today), it has been hard not to notice what amounts to an increase in collective pissiness among the NC commentariat. One might ascribe it to a multitude of influences: elevated stress produced by a lousy economy, the utter distastefulness of the
Presidential campaign, the offhanded corruption among our ruling classes and their minions, the nagging worry that another big shoe might be about to drop (Iran? Europe?) … // Continue Reading…

Proposed Split of Large Institutions Fight Looms Over EU Plans for Bank Reform

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Published on Spiegel Online International, by Stefan Kaiser, October 3, 2012.

Until recently, calls to forcibly split up European banks were dismissed as a radical leftist idea. Now even an EU panel of experts is recommending dividing up dangerous financial giants. But the banking lobby, which would face major cost increases as a result, has the power to water down the ideas.

Europe’s major banks have never been in quite this much peril. Even when they tore entire economies into chaos and had to be bailed out with taxpayers’ billions, their core structure was never called into question.   Continue Reading…

Steinbrück promises fun election with jokes

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Published on The*, by AFP/jcw, October 1, 2012.

Former finance minister Peer Steinbrück Monday slammed Chancellor Angela Merkel’s government as one of the worst in modern German history as he won unanimous party backing to challenge her at next year’s elections.

I think that the … vast majority of the cabinet – I admit there are maybe two exceptions – is one of the worst, maybe the worst cabinet in the history of the federal republic, he told supporters and reporters.
This should not be a boring election campaign. This should not be a humourless campaign. There must be fun and a few jokes, said the feisty father-of-three from Hamburg
Continue Reading…

German bank reform: The axeman cometh

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Published on The Economist, Sept. 27, 2012.

CALL it Germany’s Bankenschlacht (“battle for banks”). On one side is Peer Steinbrück, the social-democrat former finance minister, who demands a clear separation of investment-banking from commercial and retail banking. On the other side is almost everyone else, insisting on the virtues of one-stop-shop, universal banking which has served Germany well for decades.   Continue Reading…

Europe’s Protests: The Times’ False Impartiality Toward Markets and Austerity

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Published on New York Times eXaminer NYTX, by Chris Spannos, September 28, 2012.

Watch the video The General Strike in Greece, 3.23 min … //

… In “Markets Falter in Europe Amid Protests on Austerity,” Liz Alderman and Niki Kitsantonis place markets above people as tens of thousands took to the streets this week to protest government imposed austerity measures in Greece and Spain.    Continue Reading…