JPM: "The political systems in the periphery were established in the aftermath of dictatorship, and were defined by that experience. Constitutions tend to show a strong socialist influence, reflecting the political strength that left wing parties gained after the defeat of fascism. Political systems around the periphery typically display several of the following features: weak executives; weak central states relative to regions; constitutional protection of labor rights; consensus building systems which foster political clientalism; and the right to protest if unwelcome changes are made to the political status quo. The shortcomings of this political legacy have been revealed by the crisis."Neoliberalism at its best. Harkening back to the good old days of fascism. Democracy? Who needs it.
PRIME — Policy Research in Macroeconomics
Whale of a Nerve! JP Morgan tell Europe's States, your anti-fascist Constitutions are Unfit for Purpose
Jeremy Smith
1 comment:
Democracy? Who needs it. Tom Hickey
Is deposit creation by the banks democratic? No, it isn't. The existing deposit owners CANNOT vote on whether or not new deposits are created even though it will be their deposits that are diluted, permanently in many cases.
If not for the government-backed credit cartel there would be plenty of democracy - at share holder meetings - because the large corporations would be broadly owned.
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