Greece a Dress Rehearsal for United States
What's happening in Greece in the last week is exactly what's happened in Minnesota with the close-down of government. And the demands of privatization--Greece sell off its roads, its land, its port authority, its water and sewer--is just what Illinois's been doing, what Chicago's been doing, what Minnesota's been told to do, and what American cities are trying to do.
Real News - July 11, 2011
PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Washington. In Greece, the Parliament has passed the austerity measures. And judging by the reaction of the stock markets and investors, everyone was rather pleased with that. Stock markets shot up for the next few days. The euro went up. There was even optimism about the future of the economy. But that's kind of the whole point. It was all optimism on the stock markets and bond investors. In fact, that's how the whole story's been covered. It's all from the point of view of speculators. But what does what's happening in Greece have to do with ordinary Americans? Now joining us to talk about this is Michael Hudson. Michael is a distinguished research professor at the University of Missouri-Kansas City. He's the author of Super Imperialism: The Economic Strategy of American Empire. And he joins us now from New York City. Thanks for joining us, Michael.