Coordinated Sanctions Aim at Russia’s Ability to Tap Its Oil Reserves

New York Times, By Peter Baker, Alan Cowell and James Kanter, July 29

Washington — The United States and Europe kicked off a joint effort on Tuesday intended to curb Russia’s long-term ability to develop new oil resources, taking aim at the Kremlin’s premier source of wealth and power in retaliation for its intervention in [...]

The nagging fear that QE itself may be causing deflation

The Telegraph, By Ambrose Evans-Pritchard, June 4

The way we are going, the whole world will end up with zero interest rates or some variant of quantitative easing before long. Such is the overwhelming power of deflation in countries with burst credit bubbles. Such too is the implication of a global savings rate that has [...]

Saving Europe with MMT, or as goes Europe, goes the World…

Ian Welsh wrote, and we’ve commented, because while Ian provides penetrating analysis, there is no suggestion of solutions, for example those on which Marine Le Pen campaigns, which seem cogent: Restore the Franc, Restore Sovereignty, and Control Multiculturalism.

[...]

Eurosceptic ‘earthquake’ rocks EU elections

BBC, May 25

Eurosceptic and far-right parties have seized ground in elections to the European parliament, in what France’s PM called a “political earthquake”.

While the French National Front and UK Independence Party both appear headed for first place, the three big centrist blocs in parliament all lost seats.

The outcome means a greater say [...]

Former German Chancellor Celebrates 70th Birthday with Putin

Given the current Ukraine crisis, former German chancellor Schröder felt it was inappropriate to invite Putin to his official 70th birthday bash in Germany. So instead he opted for yet another birthday party with his friend in Saint Petersburg (link to German news article).

Putin, who is fluent in German, hugs his friend Schröder [...]

The PIIGS and MMT – An Exit Strategy for German Financial Colonies

This essay assumes the reader has some knowledge of Modern Monetary Theory (MMT). For a primer on MMT please refer here.

Taking Ireland as an example, how would Modern Monetary Theory (MMT) fix the Problem?

[...]

“It’s not Russia that is destabilising Ukraine”

Russia’s foreign minister Sergei Lavrov pens a “Comment is free”…

The Guardian – The profound and pervasive crisis in Ukraine is a matter of grave concern for Russia. We understand perfectly well the position of a country which became independent just over 20 years ago and still faces complex tasks in constructing a sovereign state. [...]

We Don’t Even Have to Lift a Finger

Someone buy this poor destitute man a shirt, please!

The morons in Conservativeville have been braying their lust for President Putin, the overweight exhibitionist who shoots sedated tigers and calls himself a hunter (no wonder rightwingers love him: he shoots guns at defenseless animals then calls himself a man). In turn, they call Obama [...]

Back in the USSR

Well, it sure seems like things haven’t changed much in 25 years:

[...]

News Around the World

Cairo – Six people have been killed and some 100 others wounded in a series of explosions in the Egyptian capital, Cairo.

Ukraine – A Ukrainian Journalist Explains 10 Things The West Needs To Know About The Situation In Kiev

Poland – The hidden history of the CIA’s prison in Poland

The U.P. ;) [...]

Ukraine protests turn violent as more than 100,000 demonstrate

Protesters angry that leaders refuse to sign an EU trade agreement are calling their demonstration a ‘revolution’

Al Jazeera America, December 1

More than 100,000 demonstrators chased away police to rally in the center of Ukraine’s capital on Sunday, defying a government ban on protests on Independence Square, in the biggest show of anger over [...]

EU Immigration: Only the Rich Are Welcome

Spiegel Online – Hundreds of poverty-stricken refugees are drowning in the Mediterranean, while at the same time, many European Union member states issue residence permits to wealthy Chinese, Arabs and Russians. Anyone is welcome who can pay the asking price.

When the shutters come up inside Latvia’s immigration office at 8 a.m., they are waiting: [...]

As Germans Push Austerity, Greeks Press Nazi-Era Claims

NYT – AMIRAS, Greece — As they moved through the isolated villages in this region in 1943, systematically killing men in a reprisal for an attack on a small outpost, German soldiers dragged Giannis Syngelakis’s father from his home here and shot him in the head. Within two days, more than 400 men were dead [...]

Greeks protest against Golden Dawn attack on Communists

Guardian story here

ekathimerini story here

A-Z on how to turn a liberal democracy into a proto-fascist state-

just take away people’s food, lodging, and jobs to pay back the international bankers of the IMF.

Note the non-response by the ruling party in the linked stories.

(originally posted Sep 13)

Update1: Greece moves [...]

Greece: A week of strikes against IMF-imposed “austerity”

Guardian Online – Police fired tear gas at demonstrating school guards amassed outside the administrative reform ministry in Athens. Three protestors were subsequently rushed to hospital suffering respiratory problems. The decision of authorities to resort to using toxic chemicals so early in the day appears only to have reinforced the resolve of unions in [...]

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