Bill Mitchell — EMU Member States should ignore Brussels and do whatever it takes

Last Thursday (March 26, 2020), the European Council met to discuss the way in which the European Union would deal with the coronavirus crisis. Not much happened. Well that is not exactly true. A lot happened in the sense that even when faced with the worst health crisis in a century that is already devastating the populations in Italy and Spain and creating economic havoc throughout, the leadership split along familiar lines and failed to come up with any solution. There was a lot of talk about solidarity and all the buzz words that the European leadership frequently outputs in their wordy statements. But very little action and lots of acrimony, division and back to form behaviour. My view is that the Member States should now just do whatever they consider it takes to bolster their health systems and protect their economies, which will involve significant fiscal deficits (multiples of the allowable limits under the Stability and Growth Pact), and trust that the ECB’s unlimited bond buying spree will back them. And when the Brussels technocrats start talking about Excessive Deficit Mechanisms and the rest of the blather, they should just show them the door. And if push comes to shove, they just should exit the whole rotten structure. But now is the time for defiance and disobedience. Now is the time that democracy fought back and told the elites to be quiet....

Yanis Varoufakis already blew the whistle on the EZ elite based on his dealings with them as finance minister of Greece. The wisest course would be to exit this toxic environment as soon as possible before they do any more damage. 

Same goes for NATO. It is no longer fulfilling its original purpose, which was questionable anyway and has has become a tool of white power and empire. Radical, you say?  I was a US naval officer serving in the Western Pacific during Vietnam. I was gung ho until I learned what was really going on. When I got out I became an anti-war activist and an opposer of liberal interventionism.

Two of the most significant warnings to American were issued by American presidents. The first was George Washington's warning against party factionalism in his farewell address (1796), written with the assistance of Alexander Hamilton. The second was Ike's warning in his farewell address (1961) about the military-industrial complex that he was instrumental in creating post WWII. 

Also worthy of mention is Truman public regret for having created the postwar CIA as the successor to the wartime OSS as a standing intelligence/operational service that would spearhead the creation of a deep state as a shadow government. In fact, the CIA, which then grew into the combined intelligence services that now includes a "department of homeland security" may have the widest and deepest influence, but we can only glimpse this through the courage of whistleblowers.

Of course, all this is dismissed as "conspiracy theory" by elites, their minions and those brainwashed by propaganda from complicit media, but the facts speak for themselves. From ancient times, elites have shown that when it comes to governance they are it for themselves their cronies and when push comes to shove their class as they put elite factionalism on the back burner to put down a rising "rabble."

Bill Mitchell – billy blog
EMU Member States should ignore Brussels and do whatever it takes
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia