Tuesday, August 11, 2015

The Plunger Protection Team

The Very Serious People think 25% unemployment signals a thriving economy.
Even if it becomes final, the bailout deal — agreed to in principle last month but only now drafted in extensive detail — would grant Greece billions of euros in fresh aid to avoid an imminent default but would not help revive the Greek economy, which has plunged into a deep recession.

The bailout deal doesn't grant Greece billions euros, it gives free money to the people who lent them money. It's a bankster bailout. It's debatable whether defaulting would be better for Greece, but it isn't a bailout of Greece. It's a bailout of the banks.