[syndicate] \\ history repeating itself

[| f | | | 3]

Begin forwarded message:


> From: | f | | | 3 <n2o at ggttctttat.com>
> Date: February 27, 2009 5:58:37 AM CST
> To: reklame list <nettime-ro at nettime.org>
> Subject: \\ history repeating itself
>
>
>
> World Bank, EBRD to Give East Europe $31 Billion Aid
> (complete article below)
>
>
> Note this:
>
> East European nations are struggling to refinance foreign- currency  
> loans taken out by borrowers
> during years of prosperity through 2007, when economic growth  
> averaged more than 5 percent.
>
>
>
>
> Constrast with:
>
> (re: loans made in 1970's which ultimately led to the shortages,  
> rations + 'revolution')
>
> Had the Eastern European debtor regimes united to default  
> simultaneously on their Western loans,
> which in 1981 stood at over 90 billion, they could have brought  
> down the capitalist
> financial system and realized Khrushchev's threatening prophecy (We  
> will crush you) overnight
> -- quote from 'what was socialism and what comes next'.
>
>
> In other words if Ceausescu wasn't so simply romanian to pay the  
> debt he would still be alive.
> On the other hand fast forward 20 years later and the capitalist  
> financial system is in its death throes.
>



part 2 in next email - ;1yc7	e77a70808x x  sympa mf