COMMENT: As the election campaign gains momentum in the U.S., it is becoming quite clear that Germany and the Republican Party are engaging in a very real form of terrorism–economic hostage taking.
As indicated in the first of the articles excerpted below, Germany hasn’t budged in its stance that struggling Eurozone economies must surrender much of their national sovereignty if they wish to receive German assistance. In this regard, Deutschland is pushing for the fulfillment of a long-standing blueprint for German economic imperialism, formulated by Friedrich List in the 19th century, undertaken by the Third Reich in its aboveground manifestation and approaching realization by the Underground Reich (which controls corporate Germany.)
It is also condemning the Eurozone to continued recession–in a nutshell, austerity in the face of receded economy is tantamount to putting someone suffering from malnutrition on a crash diet. It’s just what they don’t need.
As seen in the third of the articles excerpted below, the receded European economy is resonating in the U.S., deterring many employers from hiring permanent workers. In this regard, Germany is actively helping The VerMITTler–Romney, who is challenging Obama’s handling of the economy.
At the same time, GOP “austerity” doctrine is leading to layoffs of government workers at the state and municipal levels, thereby exacerbating the unemployment situation. In FTR #747, we analyzed GOP policy against the background of the CIA’s destabilization of the Allende regime in Chile.
At the same time as the GOP is pushing for “shrinking government”, their policies are producing layoffs, thereby padding the unemployment rolls and giving The VerMITTler more campaign ammunition.
In this regard, both are holding the global economy hostage for political goals–a very real form of economic hostage taking. In the past, we’ve discussed the GOP, Germany and their links to the Underground Reich.
EXCERPT: Chancellor Angela Merkel gave no ground on Germany’s demands for more central control over euro member states in return for joint burden-sharing as the region struggles to contain the debt crisis.
The German leader said yesterday she hadn’t softened her stance at last month’s summit in Brussels and that a so-called banking union involving a bloc-wide financial overseer will have to include joint oversight on a “new level.” She chided member states who had sought to slow moves toward greater central control “since the first summit” in the 2 1/2-year-old crisis.
“All of these attempts will have no chance with me or with Germany,” Merkel said in an interview with broadcaster ZDF in the Federal Chancellery in Berlin. . . .
EXCERPT: Companies have been slowly adding workers for more than two years. But pink slips are still going out in a crucial area: government.
In California, the governor is threatening to eliminate 15,000 state jobs. When school begins in Cleveland this fall, more than 500 teachers probably will be out of work. And in Trenton — which has already cut a third of its police force, hundreds of school district employees and at least 150 other public workers — the only way the city will forestall the loss of 60 more firefighters is if a federal grant comes through.
Government payrolls grew in the early part of the recovery, largely because of federal stimulus measures. But since its postrecession peak in April 2009 (not counting temporary Census hiring), the public sector has shrunk by 706,000 jobs. The losses appeared to be tapering off earlier this year, but have accelerated for the last three months, creating the single biggest drag on the recovery in many areas.
With the economy expanding, albeit slowly, state tax revenues have started to recover and are estimated to exceed prerecession levels next year. Yet governors and legislatures are keeping a tight rein on spending, whether to refill depleted rainy-day funds or because of political inclination.
At the same time, costs for health care, social services, pensions and education are still rising. Fourteen states plan to resolve their budget gaps by reducing aid to local governments, according to a report by the National Governors Association and the National Association of State Budget Officers.
So while the federal government has grown a little since the recession, and many states have recently begun to add a few jobs, local governments are making new cuts that outweigh those gains. More than a quarter of municipal governments are planning layoffs this year, according to a survey by the Center for State and Local Government Excellence. They are being squeezed not only by declining federal and state support, but by their devastated property tax base.
“The unfortunate reality is our revenue streams have not rebounded,” said Timothy R. Hacker, the city manager of North Las Vegas, which has cut its work force to 1,300 from 2,300 and is about to lay off 130 more. “Shaking this recession is becoming increasingly difficult.” . . . .
EXCERPT: . . . . Economists worry that even modest acceleration in job growth could be derailed by additional shocks both abroad and at home.
Corporate profits fell in the first quarter of 2012, the first decline since 2008, the Commerce Department reported last week. The overall drop was entirely because of falling profits abroad. While there are challenges across the developing world, including China, the primary foreign drag on the American economy is still coming from Europe’s protracted sovereign debt crisis. . . .