Publicado el 07/06/2011  Michael Hudson   , , ,

How financial oligarchy replaces democracy

How financial oligarchy replaces democracy

The Greeks gathering in Syntagma Square seem to need no culture shock to reject their Socialist government’s cave-in to European bankers. It looks like they may follow Iceland in leading the ideological pendulum back toward a classical awareness that in practice, this rhetoric turns out to be a junk economics favorable to banks and global creditors.