******************** POSTING RULES & NOTES ******************** #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. *****************************************************************
who is this guy? I certainly would not contribute to his crowdfunding appeal! On Mon, Jul 13, 2015 at 9:50 AM, Louis Proyect via Marxism < marxism@lists.csbs.utah.edu> wrote: > ******************** POSTING RULES & NOTES ******************** > #1 YOU MUST clip all extraneous text when replying to a message. > #2 This mail-list, like most, is publicly & permanently archived. > #3 Subscribe and post under an alias if #2 is a concern. > ***************************************************************** > > This is my initial reaction to the deal proposal by Greece: it is more > austerity -harsh austerity at that - and many of the measures are > recessionary. Distribution of the burden seems to me fairer than before. If > the upside is access to a significant stimulus package (front-loaded), a > smoothing of the measures (back-loaded) and substantial restructuring of > debt, to make it definitively viable, it will probably be seen as worth it. > It is certainly capable of being sold as worth it. > > Essentially, everyone managing to keep their position/perks/income in the > context of an economy which is in the middle of a death spiral, is > meaningless. If the economy begins to recover, then things which were > unbearable, become bearable. Austerity becomes a background noise, rather > than a preoccupation and a progressive government will be able to offset > the damage. It is a delicate balance. > > Market confidence is a strange creature. There is a lot of money sloshing > around at the moment, taken out of China which is in free-fall. Money which > is bulging to be invested. All it takes is an intangible notion that Greece > has hit the low point, for investment to return. Whether this package > achieves that balance or not, will have to be assessed over time, as the > detail of each measure becomes known and away from the adrenaline and > hysteria of negotiation fever. > > Instant, dramatic, pantomime reactions of the type "Tsipras just destroyed > Greece" and "Tsipras just saved Europe" are numerous and deeply unhelpful. > He has done neither. This isn't a booing or cheering moment. He simply has > tried to balance his two basic mandate commands to a. end austerity and b. > stay within the Euro, which turned out to be pretty much mutually > exclusive, in an ideologically propagated, German-controlled climate. As > that became clear, one had to be prioritised over the other. It is fair to > say that a shrewder assessment at the start may have revealed them to be > mutually exclusive, but shoulda-coulda-wouldas are also not particularly > constructive. > > full: https://www.byline.com/column/11/article/155 > _________________________________________________________ > Full posting guidelines at: http://www.marxmail.org/sub.htm > Set your options at: > http://lists.csbs.utah.edu/options/marxism/acpollack2%40gmail.com > _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
