DPC “Car ferry Michigan Central turning in ice, Detroit River” 1900 • Yellen Confronts Economists’ Ignorance (Bloomberg) • How The Eurozone Could Tear Apart (Telegraph) • Greece, The Euro And Solomon’s Wisdom (Kathimerini) • Greece Says Eurozone Deal Won Time As Cash Bled From Banks (Reuters) • The Real Battle Over Greece Still Lies Ahead (Bloomberg) • From Greek Warriors To Battered Soldiers – In A Week (Observer) • Germany Set To Approve Greek Deal If Promises Met: Merkel Ally
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John M. Fox Window display of imported and domestic cheeses, New York 1948 When it comes to the ongoing Greek question, I see a lot of people eagerly jump to conclusions, after the ‘debt deal’, that I don’t think are justified; certainly not yet. The overall conviction in the press seems to be that Syriza has given in on just about all fronts, and Germany and Dijsselbloem are the big winners. But since that may well be the exact position
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Russell Lee “Yreka, California. Magazine stand” 1942 • German-Led Bloc Willing to Let Greece Leave Euro: Malta (Bloomberg) • A Lawyer’s Mindset Where An Economist’s Is Needed? (Steve Keen) • Greece Should Not Give In to Germany’s Bullying (Legrain – Foreign Policy) • Tentative Deal For Extension Agreed At Eurogroup (Kathimerini) • The Euro’s Up In Smoke (Beppe Grillo) • Eurozone Chiefs Strike Deal To Extend Greek Bailout For Four Months (Guardian) • Greece Bends To Eurozone Will To Find
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NPC “Witt-Will motor truck plant, 52 N Street N.E., Washington, DC” 1915 • Greece, Eurozone Close To A Deal Before Friday’s Eurogroup (Reuters) • Greece-Eurozone Positions Move Much Closer after Deputies’ Meeting (MNI) • Why Greece Won’t Ever Be Able to Pay Off Its Debts With Austerity (Bloomberg)
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Wyland Stanley Boeing 314 flying boat Honolulu Clipper. 1939 A few days before I arrived in Melbourne, The Automatic Earth’s Nicole Foss was one of the key speakers in The Great Debate, which this year took place on February 13. It’s sort of the main event in Melbourne’s annual Sustainable Living Festival, which in 2015 runs from February 7 to March 1. Apart from Nicole, other speakers included George Monbiot and David Holmgren. In an impressive ‘take no prisoners’ speech,
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DPC Snow removal – Ford tractor Washington, DC 1925 As Germany is set to reject a Greek loan extension request (and no, international press, that is not the same as an extension of the bailout program), Steve Keen uses proprietary numbers issued by the OECD – which is supposed to be on Germany’s side?! – to show how dramatically austerity has failed in Europe- that is, if the recovery of the Greek and Spanish economies was ever the real target.
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Russell Lee “Yreka, California, seat of a county rich in mineral deposits” 1942 • The US Will Have To Bail Out Greece (MarketWatch) • Greece – It’s a Revolution, Stupid! (Mathew D. Rose) • Germany Rejects Greece’s Application To Extend Its Loan Agreement (CNBC) • Europe and Greece Are at War Over Nothing (Bloomberg ed.) • How I Became An Erratic Marxist (Yanis Varoufakis) • For Greece And Many Others, Economic Reform Kills Economic Health (Steve Keen) • February 24
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DPC Engineer at his post, Michigan Central RR 1904 In Other News, I’m about to leave on a 30+ hour trip on planes, trains and automobiles that will, or so is the idea, take me to Melbourne where I will meet up with Nicole. That means in all likelihood there will be no Debt Rattle tomorrow, unless planes have upped their wi-fi systems when I wasn’t looking. Nicole and I are still looking for openings to do talks and/or stay
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NPC Storm of July 30, 1913, Washington DC 1913 So what happened there yesterday? What we know is that European Economic Affairs Commissioner Pierre Moscovici delivered a communiqué, ostensibly coming from European Commission President Jean-Claude Juncker – he at least knew of it – to Greek finance minister Yanis Varoufakis, who later called it ‘splendid’ and said his government had been’ happy’ with it and he had been ready to sign. The European Commission, the day to day ‘directors’ of
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Byron On the streets after a New York blizzard 1899 • How Central Banks Have Lost Control Of The World (Telegraph) • Draghi QE Plan Seen Challenged by Hoarders Amassing Bonds (Bloomberg) • Athens Rejects ‘Unacceptable’ Eurozone Demands (Guardian) • Greece Rejects Eurozone’s ‘Absurd’ Offer As Time Runs Out On Talks (Telegraph) • Greece Defies Creditors, Seeking Credit But No Bailout (Reuters) • Brussels’ Blunt Bargaining Presents Austerity As Greece’s Only Option (Guardian) • Greek Brussels Defiance Means Hope at
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