by Brandon Smith
In order to understand what is really going on around the globe in terms of the collapsing economy, we must set aside false mainstream versions of reality. When it comes to the EU and its current fiscal turmoil, it is very important to, in some respects, ignore Greece entirely. That’s right; forget about all the supposed drama surrounding Greek debt obligations. Will they find a way to pay creditors? Will they default? Will they make a deal with Russia and the BRICS? Will there be last-minute concessions to save the system? It doesn’t matter. It’s all a soap opera, an elaborate Kabuki theater run by international financiers and globalists.
It is most important to remember the fundamentals. Greece will default on its debts. Period. There is no way around it. Maybe Greece makes a deal today, maybe it makes a deal tomorrow; but eventually, the country’s ability to stretch out its resources in order to meet its exponential liabilities will end. It is inevitable, and no last-minute “deal” is going to change the math at the core of it all.
Why are so many economists so worried about a little country like Greece? It’s all due to a great lie: a dishonest narrative being perpetuated by the establishment that if Greece falls, defaults or leaves the EU, this could trigger a domino effect of other nations hitting a debt wall and following suit. The lie embedded in this narrative is the claim that Greece will cause a “contagion” through the act of default. Let’s be clear – there is no contagion. Multiple countries within the EU have developed their own debt problems in spite of Greece over the past couple of decades, not because of Greece. Each of these countries, from Italy, to Spain, to Portugal, etc. has its OWN sovereign debt disasters to deal with caused by its own fiscal irresponsibility. The only legitimate reason for a so-called contagion is the fact that these countries have been forced into socialist interdependency through the EU structure.
Never forget this: The EU is in trouble not because of Greece, but because of forced supranational interdependency. The EU by all rights should not exist, nor should any centralized supranational single currency system.
It’s true that economic collapse is coming regardless of what happens with Greece,too much debt,too much owed in pensions,too much welfare,banks making loans that will never be repaid-both commercial and private-too many derivatives,etc.held by banks.
Same here in FUSA-too many banks too close to insolvency,too many businesses too close to failing,too many cities,counties,and states that owe far too much in pensions because of public sector unions-it’s all gonna implode any time now.
Like the man said-“the center can not hold”.
Add US jobs shipped by politicians over the decades via Premature/Unconstitutional Trade Treaties
politicians have allowed borders to swing wide open for decades with the invasion of 50 million illegals
*Sorry about the length-I had to provide the context and history*
NAFTA and prior to that Japan,India,Pakistan,and China dumping cheap steel, a few countries dumping cheap tires, the U.S. importing textiles, cheap electronics,cheap cars and motorcycles was the beginning of the end of manufacturing here in the U.S.
I was going to college in Cleveland,Ohio in the 70’s,and saw firsthand the effects of dumping cheap steel on the good paying steel mill jobs.
Akron,Ohio is only 25 miles or so from Cleveland,and the good paying jobs at Goodyear,Firestone,and the other tire and rubber companies disappeared real quick.
My uncle is a retired electrical engineer,he worked most of his career at RCA-then all the mergers,buyouts,etc. happened,he retired from G.E. and was one of the lucky ones-he got his full pension.
The entire NE Ohio area used to have high paying jobs in steel mills,tire factories,auto manufacturing- Ford,GM,and Chrysler all had assembly lines here,there were engine manufacturing plants,stamping plants,and all the assorted supply chain manufacturers,Alcoa has a huge plant that’s still in Cleveland,not much left of the auto manufacturing,steel manufacturing is somewhat coming back due to all the drill pipe etc. for the oil and gas industry.
In the 80’s I was pounding nails on the Outer Banks,building custom homes-the ones on pilings almost on the beach-then the work just came to an end,nowhere to build more homes-went from $15.00 an hour building the last home we built in Corolla Light,N.C.-to 7 bucks an hour in Indian Rocks Beach Florida,where I went to stay with my mom for a while.
Florida had way too many illegals back then,who would work a full day for $50.00 cash.
Yet people still claim that illegals are doing jobs Americans don’t want to do. I saw it first hand in multiple states while working in the building trades-illegals working all day as carpenters,bricklayers,roofers,drywall hangers,cement finishers,tile setters-for what would have been a couple hours pay for those of us with the skills and experience.
The illegals drive wages down for the rest of us,or the jobs simply disappear for the rest of us.
Manufacturing follows the cheapest labor-ask the guys at Goodyear Aerospace-formerly Cleveland Pneumatic Tool-a company that made landing gear for military aircraft-their jobs went to Ukraine.