G20: Doves on finance reform, hawks on austerity

Rob Johnson: Real cause of massive debt was caused by finance sector, not people's social programs

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[audadvnc]

Deficit, schmeficit! Of course they're hawks on other people's austerity! The PTB wants to take all our money, and they'll say and do anything to get it. They intentionally broke the bank, got us to bail them out, now they want to cut all the other programs to cover their butts.

[iknownothingnow]

TRNN and Paul Jay. An excellent interview and interviewee. Mr. Johnson is credible, articulate and it appears that he truly understands the issues. It would be fantastic if Mr. Johnson would periodically contribute in future segments.

Thank you Mr. Johnson, this crisis was engineered by the elite. And they benefited too.

The issue in the U.S. is that there are no incentives for the politicians to remove their hands from the financiers. The two protect each other with money and laws.

[blackiron60]

"Austerity" is the religion of the elite and it's not new. Throughout history elites have traditionally done little or nothing to alleviate the burdens of the common people, they only do it when forced to and, for the most part, that's only happened over the last two centuries as people mobilize and take action for change. Austerity on a global scale requires a global response from the masses and it's already started.

[wcropp1]

Thank you for talking about things that actually matter. I don't understand how people watch television news anymore, not when there are so many better options.

[55ella2007k]

Great coverage, REAL NEWS ! The only way such a corrupt system can prevail is through increased repression. This repression will not necessarily take the form of bullets, but it will entail the dismantelling of social safety nets for ordinary citizens, which made it possible to organize in the first place. Moreover, the citizens will be led to believe, that the austerity measures are in their own best interest. And most will fall for this lie, because this is all they hear via the MSM.

[nhseag]

Fuck the IMF

[james9689]

The Canadian police and private security were detaining people and banning people from entering Canada, check out wearechange and cveitch.

[NicosNicosNicosNicos]

@sirellyn I agree with 'never a borrower nor a lender be' if possible.

[sirellyn]

If you are dependent on borrowing every year because you vastly overspend every year. The creditors are the ones who will say no more, and you become more eager to please them than the people. They can say no at any time, the people only get the chance every 4 years. And you get the chance to spend big and butter them up just before then.

If you underspend every year, the people become more important. No borrowing and could care less what creditors think of you.

[workwillfreeyou]

Thanks R.N., Paul and Rob, If addressing the debt- to G.D.P. is the issue than a open honest national discussion is in order. First the global capitalists ship all manufacturing jobs out of the U.S.. The thinking gos that only the executives get any share of the profits. That real production of wealth is what is needed to pay public debt. Then blame the poor, unemployed or underemployed for the debt problems. Transferring all wealth to the richest people in the plantant.

[thetimman00]

Financial servants doing Gods work need to be godlike not humanlike. Reform to new currency laws and sound currancies and maybe the masses have a chance to do better. Go to a world system, like the big guys want, and we all become financial serfs.