Who would ever thought that even his Masters and Producers voice can be obfuscated or de facto censored in the EU?
IT happened to the Financial Times. The article of a brief and accounting view of the real net amount of the so praised miracle of the EU Recovery Fund real net worth was disregarded by all media, charlatan economists, politicos in search of the Author, etc.
Normally, the Financial Times, the voice of the masters, is used for any argument to prop up the current debt driven economy model.. This time, no.
First conclusion is, that even the freedom of information and discussion is ending, right now in the EU. Regardless that maybe because of divergencies made by Brexit, the Anglosaxon wing of the debt driven economy producers is sending signals to the Ordoliberal EU counterpart demystifying the spin oracle recovery fund narrative.
As the myth of the Next gen recovery is established as the only myth available for the masses in the EU, the censorship starts to eliminate even the friends of the rulers.
Here is the Financial Times text, 12, 2, 2021 by Emiliano Brancaccio, Professor of Economic policy (University of Sannio, Italy)
Riccardo Realfonzo, Professor of Political Economy (University of Sannio, Italy) ;
“Mario Draghi’s new adventure as leader of the Italian government has been charachterised as finding the best “technocrat” to optimally manage the “enormous” amount of money that will arise from the European recovery plan. In this happy Techno-Keynesian narrative, however, something may not work.
In Italy, the advent of “technocrats” has always coincided with an opposite trend: the need to weaken parliamentary forces so as to increase government’s autonomy in managing the few resources available in economic downturns. This was the case in both the 1992 currency crisis with the Amato-Ciampi governments and the 2011 eurozone crisis during Mario Monti’s premiership. Will Draghi’s be any different? We have some doubts. If we examine the €209bn that the EU recovery fund will allocate to Italy for the next six years, €127bn is made up of loans that only create savings on the spread between national and European interest rates. Even with pessimistic forecasts on Italian rates, this amounts to no more than €4 bn per year. As for the remaining €82bn in grants, the net amount will depend on Italy’s contributions to the EU budget. With an agreement on relevant pan-European taxes looking unlikely, member states will have to contribute as usual in relation with their GDP. Under this formula Italy should pay no less than 40 bn. The net grant is therefore just 42 bn or 7 bn a year. Furthermore, if we consider that in the next round Italy will be a net contributor of the remainder of EU budget for about 20 bn, the total net transfer declines to less than 4 bn a year. Ultimately, Italy will then receive much less than 10 billions a year from Europe for the next six years: a very modest sum when compared to a crisis that destroyed over 160 bn of GDP last year alone, much more than past recessions. It is no coincidence that in his recent report for the G30, Draghi exhorted governments to support a free-market “creative destruction”. This is not Keynes but a laissez-faire version of Schumpeter. If the EU funding of the recovery is not more generous, Draghi’s time as premier may turn out little different from the austerity of the “technocrats” that preceded him.”
Emiliano Brancaccio, Professor of Economic policy (University of Sannio, Italy)
Riccardo Realfonzo, Professor of Political Economy (University of Sannio, Italy)
…..
In his previous posts Witchdoctor showed the “small change peanuts for monkeys” is the real amount of this Savior plan, He did not take into account the accounting budget view of Italy net contributing into the EU budget.
In the light of this fact, recovery Plan is Nothing , definitely. It is more than nothing, it is a scam, since the money given as grants is nothing and the new “debt allowance” of the Recovery Fund is a childish insanity. To give to a retard an allowance in form of debt is not economic politics, it is the beggar banquet.
The part about Charlatan economics “creative destruction” is, if one is living in Italy and reading it, not even a joke. It is the death sentence of the Italian society.
As we all know, this creative destruction of the economy is happening in the midst of pandemics with no light at the end.
To destroy the know how, the industrial capital,THE FABRIC OF ITALIAN SOCIETY thinking that SOME INVISIBLE HAND cargo cult myth will bring it back in due time, is ghastly.
All systems and chains of value which close now, close for ever.
The current complex systems of know how, if they close, they never return. The know how moves away. The brain drain in Italy is massive already, they flee in thousands per month.
The already depleted capital formation in the EU can not restore anything, even in decades to come. The far west cowboy times of Schumpeter charlatan creative destruction are good only for the far west movies of the thirties..
Even the already closed artisans know how in Italy and over the EU, all the crafts and arts which slowly died in last decades, are gone for good.
Wood, leather, ceramic, glass, stone,metal, jewelery, etc, etc, repair, They do not know anymore how to make many things. Only some glass craft is left, but even this is a time travel replica of good old days.
Hundred of thousands of small crafts and arts closed in last decades.. Millions lost the know how.
The idiotic taxation which by unifying small artisans with the multinational companies selling cement helped a lot. The “fashion” corporations pay less taxes than the arts and crafts people.
The new illiterate “brand seeking” mass public foreclosed the arts and crafts.There is no knowledge and know how left after this mindless massification of de gustibus- the mass taste- creative destruction. The Italian brands in arts and crafts are mostly made elsewhere.
They will never return back. Same goes for capital. Only chinese will come. If this is Draghi plan, cheers to all.WD has written it here from the beginning.
DRAGHI DID IT, FIRST
He succeeded in one thing. He normalized the far right. He made the Oligarchy plan B.
The far right is now normalized into the European groupthink. In fact the plan B ,as Witchdoctor wrote here long ago, the exit strategy of the EU Oligarchy was : on what new platform keep doing the same and having some sort of mass support from the rising right populist movements?
OK , lets start from the classic construction of the debt driven economy “civil” oligarchic pilot wave. The trash wave is based on the boundary left, central and right side. The current coalitions in the EU, due to the EU architectural constraint through all the six packs, maastricht criteria, lisbon and all, was, at the beginning, constructed as the majority center leaning governments with clear left and right parties in opposition on both sides of the spectrum, This was the classic capitalist scheme.
By slow debt driven economy collapse, the ex center ,social democratic, liberal and conservative parties made coalitions together, leaving Left and far Right out of the govt. The wild bunch was together keeping the power for the Oligarchy. This is the neoliberal scheme of things.
The collapse needed the plan B. Solving the question on How to normalize Le Pen in France or any Italy populist right or seemingly left parties and make them accept the debt driven Money creation, Austerity as a final,currently sold rhetorically working as a gradual and not sudden goal for the balanced budget and the EU technofeudal architecture.
The Pandemic did the job and the Draghi Savior united finally all the right, with the fake exception of the protofascist right into one Bunch.
The protofascist right was clever or intentionally left out of govt to reap new votes of the dissatisfied and so enforce the new right EU rule..
The classic Oligarchy rainbow of demi-cracy eliminated the left. The EU moved to the definite right. Draghi did it. They swore to the Myth. The Polish, Hungarian , Slovenian model of authoritarianism is not opposed, but functional for the EU rule. They are slowly, Le Pen included, all moving into the same mindset with small patriarchal nuances.
The left disappeared, first into the Grosse Koalition,then The Von Ursula Coalition, greens included, then everywhere. They all believe in same.
There was never an opposition since, as all the monkeys , they had no other game to play.They pretended to have the alternative game, they faked, and the pandemic showed it.
The populist right had no need to fake. They were the same seed.Gone the anti Euro rhetoric, all what was left was sexism, racism and all phobias they all share, more or less.
The right always loves the creative destruction, it is so macho looking.
They accepted the model. It was the plan B for the current EU construct survival.
CUL DE SAC
Before leaving the ECB, mario Draghi vehemently stated that all is ok. All EU vital functions are on Automatic Pilot, the Automatic Stabilizers are in place and the Euro is irreversible. His own words.Yeah, it was and it is not true at all and his entering the Italian govt as the savior is the proof as is the proof the wild bunch coalition he is leading.. If the Autopilot was working, he was not needed.
Only Christine Lagarde is keeping up the shack by QE, which is out of the treaties. QE is not the economic policy and so the EU shack is out of balance.
The EU techno feudal model of government, is slowly showing the contours.The supra body living in the Brussels EU quarters and in the tax heaven Luxembourg Court of Justice (see Perry Anderson on this) is pretending to work on Automatic Pilot. The local feuds , the ex EU States are governed by the authoritarian wild bunch, which is pretending to be nationalistic but is a globalized cover up scam. The Authoritarian virus is spreading from Poland, Hungary Slovenia, Balcans, Greece, to the EU core. At this moment the EU old west part core is playing the wild bunch coalitions (Germany is leading the way) as the way to survive, currently without the Authoritarian “nationalistic” scam twist for the localistic use as the fata morgana, smokescreen of the motto of “we are boss on our own land” regardless that the real situation is that this feud- the ex State- is completely outsourced…
The Mimicry of staying behind some paleolithic fake concepts is the new way to perpetuate the current affairs in the EU.
The Cul De Sac, the blind alley is in the nature of the so constructed Pilot Wave. Being all of them in the Government without the left and right stabilizer out of the govt provokes the centripetal and centrifugal forces in the wild bunch to collide and clash. The way out, as history shows is to control the wild bunch all in one coalition with the Authoritarian tools. At the end this construct needs a police state and after, the military , to preserve itself.
The normal thing to do, if the ruling oligarchy is a civil oligarchy, is to invent and construct the left and right parliamentary parties as “impostors” which stabilize the system status quo on both sides of the spectrum which absorb the shocks and give system dynamics or which are allowed to bring minor changes to it.
But that, in the current pilot wave history trash would be a time reversal, and there is no time reversal in the history trash wave.
Mind, the Witchdoctor proposals on solving the debt driven economy collapse and the climate crash in a circular- capital and money creation- perpetuum mobile way are currently in the constitutional and democratic perimeter and this is not a revolutionary overthrowing of the Oligarchy.
The violent overthrowing will come as a logical answer from this cul de sac the EU Oligarchy is cooking for themselves. Later than sooner.
DRAGHI WENT ONE STEP Further
Draghi Governement went one step further by leaving out of the Govt a protofascist legal Parliamentary party which is taking over all discontent, malcontent in the voting populace and is already traveling at 20% support. That is the effect of the plan B. Having only the far right stabilizer and no left party worth mentioning ( none at all) to match it on the other side, The Pilot wave is centripetally engulfing itself in its centrifugal movement to the right and , as we see, the balance is lost and the new Authoritarian solution is in the cards, and after, with the unpredictable development of the pandemic and the social economic effects on the EU Feuds, the rise of the police state is in the cards.
Same situation may be seen in France, not to mention the ex socialist feuds.-States in the EU. OR Spain, where freedom of speech is getting very limited.
Hopefully Catalunya is showing its resilience, keep unite!
Mario Draghi, a believer and the maker of the European Automatic Pilot stabilizer is , since the Italians think of him as a Savior, the best technomind of Europe, then it must be intentional, making this Italian plan B.
Ok, one could say, he works with the tools at hand that he has. The same.
The result is as WD shows.
That is why they obfuscated and censored the emptiness of the Recovery Fund Myth. The Authoritarian regimes live on very few myths, if this myths fail, they fail.
It was too much to fail on the Recovery Fund Myth so soon, when, just in time, they normalized the whole politics to accept their rule.
The next step is even deeper denial, which means the EU democracy is in peril.
Witchdoctor