Geography Archives: Ireland

Where is this elusive recovery?  The banks, some say, have “recovered.”  Yet they remain dependent on Washington, they do not make the loans needed for a general recovery, and many medium and small banks keep collapsing.  The stock market shows no recovery.  The Dow index was 14,000 in late 2007 when capitalism hit the fan, […]

  Financial crises and uncertainty go hand in hand; some make sacrifices and others plan on having to.  But how many countries stricken by the global crisis actually feel existentially threatened? Iceland does.  Since the start of the kreppa (“catastrophe” in Icelandic) in the fall of 2008, the small island nation of 320,000 has had […]

Executive Summary: This paper looks at the planned austerity measures in Spain, the rationale for the spending cuts and tax increases, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies. It is widely believed that Spain got into trouble because of the over-expansion of government spending.  However, during the economic expansion […]

  Paul Jay: So, first of all, your take on what the G-20 decided, this idea of cuts in Europe and North America and maybe some expansion in China.  And is there some alternative to this? Robert Pollin: Well, the notion of imposing austerity at a moment when we may — may — be slowly […]

  Slavoj Žižek.  Living in the End Times.  Verso, 2010. Reading Žižek has always been as challenging as it is enjoyable, an experience of pleasure and pain that seems at times an intellectual correlate to the operation of objet petit a (little object a).  The concept of objet petit a has been a constant in […]

One thing should be made clear about the situation in the Eurozone economies that is not clear at all if we rely on most of the news reports.  This is not a situation where countries face a “dilemma” because they have overspent and piled up too much public debt.  They do not face “tough choices” […]

Excerpt: The mechanisms of crisis Gains for German capital, losses for German workers and periphery i. Monetary union has imposed fiscal rigidity, removed monetary independence, and forced economic adjustment through the labour market.  Workers have lost share of output relative to capital in Germany and peripheral countries. ii. The German economy has performed poorly, with […]

  Martin Wolf described it as “a bloodbath.”  The Financial Times editorial called it a “chilling read.”  Britain’s budget is one of austerity, the likes of which has not been seen in generations.  A 25 per cent cut in public spending; a quarter of a million or more public sector jobs to be slashed.  It […]

The global financial crisis that began in 2007 was clearly about money, credit, and finance.  For mainstream economists and politicians — from neoliberals like John B. Taylor at Stanford and Tony Abbott, through pragmatists like Barack Obama and Australian prime minister Kevin Rudd, to Keynesians and social democrats like Paul Krugman at Princeton and John […]

  The Fine Old English Gentleman New Version (To be said or sung at all Conservative Dinners) I’ll sing you a new ballad, and I’ll warrant it first-rate, Of the days of that old gentleman who had that old estate; When they spent the public money at a bountiful old rate On ev’ry mistress, pimp, […]

Former UN Assistant Secretary General Denis Halliday said it was imperative that the Obama administration supported Ireland’s call on the Israeli authorities to ensure safe passage for the Irish-flagged Rachel Corrie to carry humanitarian aid to Gaza, the Irish Times reports.  Speaking by satellite phone from on board the Rachel Corrie, Halliday called on Irish-Americans […]

International Solidarity Movement 31 May 2010, Free Gaza Movement Israel Murders at Least 10 Unarmed Civilians on Aid Flotilla to Gaza, Dozens Injured (Cyprus, June 1, 2010, 6:30AM local) — Under darkness of night, Israeli commandos from at least 14 warships and military helicopters boarded the Turkish passenger ship, Mavi Marmara, and began shooting.  According […]

The current turmoil in financial markets around the world is another illustration of the damage that can be done by a bloated and politically powerful financial sector, combined with finance ministers and central bankers who identify with this sector and have their own right-wing policy agenda. Welcome to Europe, which has become the epicenter of […]

  Max Lane, Unfinished Nation: Indonesia before and after Suharto, Verso, 2008. There was a time when everyone seemed to be talking about Indonesia.  Well, they were talking about it on Joe Duffy and Pat Kenny at least, and that’s as near as makes no difference in this country.  As East Timor voted to extricate […]

There’s a funny if intimidating gun-nut bumper sticker you may have seen on the road: “gun control means using both hands.”  It’s clever, invoking and mocking gun control at the same time. This last week the United States government, by its actions, formally adopted this bumper sticker as its de-facto nuclear weapons and arms control […]

Markets can be irrational, as Keynes famously pointed out, and the Eurozone/Greek crisis is a classic example.  “The markets” for months have been demanding more blood from Greece, as the financial press has continuously and often unquestioningly reported: more commitment to spending cuts, tax increases, and “procyclical” policies that the bondholders, EU authorities, and the […]

Perhaps the wild swings in financial and stock markets over the last week will make people give closer scrutiny to what is going on in Europe, which would be a good thing for the world.  According to most news reporting, markets are worried about a potential default by Greece on its sovereign debt, and the […]

With Venezuela’s economy having contracted last year (as did the vast majority of economies in the Western Hemisphere), the economy suffering from electricity shortages, and the value of domestic currency having recently fallen sharply in the parallel market, stories of Venezuela’s economic ruin are again making headlines. The Washington Post, in a news article that […]

The Rachel Corrie Foundation andBreak the Silence Mural Project co‐presentThe Mural Speaks Come celebrate the completion of this dynamic, interactive mural at a free event at 6:00 p.m., Saturday, May 8 at the Labor Temple building, corner of State and Capitol, downtown Olympia.  The Mural Speaks event is more than a mural commemoration; it’s a […]

The political conflicts and street battles in Greece today foretell what is coming to many countries including the US.  The struggles are basically over what the government spends on and who pays the taxes.  In today’s class-divided societies, classes differ over what governments should do and who should pay the taxes.  Governments in such societies […]