“We have no doubt that everyone is tired of bad news, but we are compelled to review the facts: Europe is currently experiencing severe bank runs, budgets in virtually every western country on the planet are out of control, the banking system is running excessive leverage and risk, the costs of servicing the ever-increasing amounts of government debt are rising rapidly, and the economies of Europe, Asia and the United States are slowing down or are in full contraction. There’s no sugar coating it and we have to stop listening to politicians and central planners who continue to downplay, obfuscate and flat out lie about the current economic reality. Stop listening to them.“
“(…) we cannot see any positive solutions to this problem other than debt repudiation.” Eric Sprott
By Chris Floyd
November 10, 2011
Hugh Roberts’ new article in the London Review of Books is the best story I have yet read about the war of regime change in Libya. It is meticulously detailed, rich in context — historical, cultural, political — carefully measured and soberly expressed.
The article should be read in full — anyone who cares at all about a deeper understanding of these events would be foolish to miss it — but I want to highlight just one aspect: the deliberate falsehoods — fanned by the media, including many “progressive” voices — which were used as a justification for the Western military intervention.