Don't you find it almost insulting by now? Insulting to your intelligence? Every time the markets go up, all the news outlets, like parrots, repeat the same inane reasons for it. Every time the markets go down, they do the same thing. Literally, like parrots. They don't (really) know jack shit. It's almost sad. It's obvious they are just getting some pablum from somewhere; some propagandist info they can use to explain the events of the day--even if they don't know they are doing so.
Eventually, after the upheaval and revolutions, etc., when we rework our economies, we're going to have to address the downside of "capitalism" whereas entire groups of people are force to become "whores" for the system, selling their intellect, their values, their ethics, to the highest bidder.... But, that's further down the line.
In a nutshell... Let's use Greece as a template: A group of Oligarchs control the government, and took over the media. With their control of the government they rig the system so wealth and power moves towards them, and away from the citizenry. With the control of the media, they manipulate a large portion of the populace.
The criminal Oligarchs then use their power to avoid paying taxes. As the wealth is transferred to them, then the government has less revenue to properly operate and serve the citizenry.
These Oligarchs are part of a international cabal that makes up the ruling elite in the U.S. and Europe. They use a criminal financial system which helps them set up the socio-economic infrastructure necessary to re-create some sort of neo-feudalistic new world order: This international criminal ruling elite's meme relies on an economic framework that says that a more equal distribution of income, wealth and resources is "government waste" and a massive accumulation of same is the proper function of a market economy.
They use their control of the levers of governmental power, and media control to convince a large portion of the citizenry that that's the way it has to be. But in the final analysis, it's a scam (of major proportions).
Let me interject here and point out that I've written several diaries touching on this subject...
Anyways, what we are witnessing with the implosion of the Eurozone (Greece, Italy, and the rest to come) is some kind of sophisticated coup by the international criminal ruling elite: World Bank, IMF, European Bank, and the ruling elites of European and American governments.
Put all the bullshit aside... All the earnest analysis by the Wall Street Journal, the Financial Times, Bloomberg News, PBS, BBC etc. Follow the money (and hence, the power).
Greece, Italy, Spain, and others, will default. The markets are going to collapse. Fear and confusion will ensue. Lot's of news, analysis, reporters repeating all kinds of bullshit fed to them by the sophisticated propaganda machine of the criminal ruling (financial) elite. On that, there could be one of two reasons: The "journalists" are stupid or lazy, or they are just going with the flow securing their own paychecks. But, that's another conversation...
Do you know what's a sure way to ascertain whether I'm right, or not, in the final analysis? Very easy: As these "financial" shock waves rock the European and American economies, with each shock, the populace will be more disenfranchised (less access to education, social safety net, pensions, etc.), and the ruling elites in these countries will gain more wealth and power, in direct proportion.
It's a scam folks. You (we) are choosing to go along with it.
Again (as I've written in several diaries before): At this point, the international financial system is insolvent. The banks have been looted, and the bill has been left at the feet of the populace.
The countries' economies need to be decoupled from these criminal financial enterprises. There has to be a temporary nationalization of the banking system. The criminal oligarchs should be left to bear any loses. Pension funds, retirement accounts, and savings of regular people need to be protected, an guaranteed. The printing presses need to be started up and sensible economic policies need to be implemented to fund the proper function of government(s).
This stuff is not that complicated. Do not accept the framework being put in place by these criminal oligarchs; if you do, you'll be accepting your own enslavement.
Occupy Wall Street need to set up an international network and come up with a "master" plan to counteract this massive scam. People in Greece, and England, and New York, and Madrid, and San Francisco, should be in daily contact planning and organizing ways of pushing back against this tiny group of sociopaths.
It's a massive scam. Do not accept it.