Skip to main content

Varoufakis' alert: financialized capital may choose to support fascists

Eric Draitser sits down with economist, and former Greek finance minister, Yanis Varoufakis to discuss the shifts in the political landscape of both Europe and the US, and what they mean for political activism and progressive politics. Eric and Yanis discuss the nature of the EU and whether it can be reformed or democratized, as well as the forces at play within it. The conversation also touches on the US election as Yanis and Eric debate the utility of "lesser evil" politics, while also examining the ascendance of the fascist right in Europe and the US, with particular attention to the Brexit vote and its implications. The bond bubble and potential economic collapse, the long view of the 2008 crisis, the importance of addressing climate change, the necessity of internationalism, and many other topics are discussed in this wide-ranging interview with one of the best economic minds in the world today.


Some interesting parts of Varoufakis' comments:

Brexit is also an economic phenomenon. It's not just a political revolt against the elites, against the EU, against the city of London - the bankers. The main reason why the English, not the British, the English working class voted to get out of the EU, is the slow burning recession. The fact that living standards in almost every town outside of London, within England is depressed. You walk through city centers in Doncaster, in Leeds, in York and all you find is misery and desperation. A whole working class feels utterly abandoned by the elites, even by the Labor Party, the Social-Democrats, and this is the reason why Brexit won.

The period between 2010 and today can be seen from a Greek perspective as an experiment. Greece was a laboratory in which the globalized/financialized elites experimented with how they would try to deal with a crisis of their own making. And the experiment produced monsters. One of these monsters is the neo-nazis of Golden Dawn. The Donald Trump experience is also quite intimately connected. The very notion that you have somebody like Trump running as candidate of one of the two major political parties in the US, back in 2010-2012 it would be absurd.

The cruel, vicious austerity policies that were created in the Greek laboratory were then exported to the rest of Europe. This experiment backfired because you can never deal with financial crisis through austerity. This is one thing we've learned from the early 1930s which gave rise to the nazis in Germany. A period of deflation gave rise to the worst kind of xenophobic Right-Wing populism. And this is what we have in the form of the Golden Dawn thugs hitting Greece, Donald Trump in the US, the Right-Wing Brexiters in Britain.

What we have now is a bifurcation, word-wide not just in Greece, we are seeing the formation of two political blocs. One is very similar to the troika of creditors that we had to deal with in Greece last year, who crushed us in the end. It's a technocracy of globalized, financial capital, together with bureaucrats that want to spread their wings and power globally. They also corporate Atlanticists, those who want to utilize brute force in order to become, or remain the policemen of the Cosmos. This political bloc of globalized, financialized Atlanticists have developed a capacity to be more tolerant with minorities, less tolerant with racism, quite relaxed about migration, as long as it doesn't threaten their political capital.

In opposition to that, we have the xenophobic Populist Right, which is investing on racism, fear and nativist myths about the return to some kind of kingship within the nation-state where you erect walls around your country the riffraff away.

It is this toxic confrontation between the nativists xenophobic Populist Right and the financialized, globalized Atlanticists pack who don't even know how to stabilize the world that they aspired to create. This conflict is always going to give rise to rather unpleasant developments for the whole of humanity.

Hillary Clinton never was and never will be part of the Left. The Social-Democrats in Germany are part of the problem, not part of the solution. We have an opportunity now to cease upon the way this global economic and political crisis is developing, in order to do what we failed to do in the 1930s. In other words, to create a solid, internationalist, progressive bloc that opposes the vicious cycle between the globalization elites and the xenophobic populist reaction to it.

Hillary Clinton is part of the problem. Hillary Clinton run an outrageously, scandalously, sinister campaign against Bernie Sanders. Hillary Clinton is in the pocket of the establishment. Hillary Clinton will probably start another war.

The crisis that hit us in 2008 has never gone away. It is simply transforming itself taking different guises and different parts of the world even within our own countries. One day it's the crisis of banks, the next day it's the crisis of real investment, the third day it's the crisis of deteriorating the jobs' quality and so on. But the crisis of Capitalism that hit us in 2008, just like the crisis of Capitalism that hit in 1929 did not go away until the beginning of the WWII.

If you look at the 1920s and 1930s, fascism became dominant, hegemonic and took over governments with mass support, only when industrial capital, at some point, in order to stem the rise of the Left Wing that was antithetical to capital's interests, threw their lot in with the fascists. It was the support of industrialists in Germany and Italy that gave rise to the nazis and the fascist governments. So far, the establishment, the financialized capital, military-industrial complex and so on, have not thrown the lot in with the fascists movements. It's what keeping them from power, but we should not take it for granted that this won't happen and we should be prepared.

Full interview:

Comments

  1. I can see this clearly. So far the Oligarchs have settled for indirect control through a purchased Kleptocracy. Let Sanders or Warren win, and this will change to direct control via marshal law or extension of the Imperial Presidency to fight some supposed crisis. The new president might not even get to take office.

    ReplyDelete
  2. This comment has been removed by the author.

    ReplyDelete
    Replies
    1. courtesy of ClubOLov.blogspot.gr, :
      " A 2014 study, “Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens” by Martin Gilens and Benjamin I. Page conclusively showed how the preferences of average citizens matter not a whit, while those of moneyed elites and interest groups certainly do."

      Delete
  3. Anonymous4/8/16 21:57

    Πάλι πέταξε την μπαρούφα του ο Μπαρουφάκης.

    ReplyDelete
  4. Πόσο πραγματικό είναι το παρακάτω:
    Varoufakis: The Anti-Russian Trojan Horse Exposed

    ReplyDelete
    Replies
    1. Θεωρία συνωμοσίας που δεν μπορεί να επιβεβαιωθεί.

      Delete

Post a Comment

Popular posts from this blog

It has started: Big corporations institutionalize land-grab to control the global food production

globinfo freexchange   As we were writing back in 2014:                        Having secured the new labor force through fully automated machines, what has left for the dominant elite now, is to take all the resources. Big corporations are grabbing huge cultivable areas especially in the developing countries in order to control food production.  We have come now to the point where big corporations literally institutionalize land-grab to control the global food production.   As The Grayzone recently revealed [emphasis added]:  In June 2019, the office of UN General Secretary António Guterres, without previous discussion in the General Assembly or any other intergovernmental process, signed a strategic partnership with the World Economic Forum. [...] The 2021 UN Food Systems Summit was initiated through a partnership with the World Economic Forum, with limited participation of other UN bodies, such as the Food and Agriculture Organization or the Committee on World Food Secu

Fifty years from Nixon's shock: The moment the gates of hell opened to release neoliberalism and financial capitalism

globinfo freexchange   Half century passed from Richard Nixon's economic reform. The "Nixon shock" included " the unilateral cancellation of the direct international convertibility of the United States dollar to gold. Although Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange, the suspension of one of its key components effectively rendered the Bretton Woods system inoperative. While Nixon publicly stated his intention to resume direct convertibility of the dollar after reforms to the Bretton Woods system had been implemented, all attempts at reform proved unsuccessful. By 1973, the Bretton Woods system was replaced de facto by the current regime based on freely floating fiat currencies. "   And so, one of the worst presidents in the history of the United States opened the door to the domination of financial capitalism and the correlated destructive neoliberalism.    Two years after Nixon's s

Corruption in Britain - ‘City of London at Forefront of Tax Evasion & Money Laundering Industry’

Going Underground   Lord Prem Sikka discusses the neoliberal structural problems in the economy that neither the Labour or Conservative Party are willing to address, the privatisation by stealth of the National Health Service (NHS) and the subsequent decline of the NHS’ standard of healthcare provision, the government’s main priority being to provide tax cuts to corporations and the rich as the poor lose out, corporate and super-rich tax avoidance in Britain as the #PandoraPapers are leaked, the auditing industry and the government’s refusal to crack down on malpractice, the refusal of both Keir Starmer and Boris Johnson to address income inequality and call for redistribution, ties between elected MPs and the financial sector, and how London is at the forefront of tax evasion and money laundering. 

US drone killed 10 Afghans including aid worker & 7 kids after water jugs were mistaken as bombs

Democracy Now!   Reporter Matthieu Aikins on how his investigation for The New York Times found an August 29 U.S. drone strike, which the Pentagon claimed targeted a facilitator with the militant group ISIS-K, actually killed 10 Afghan civilians, including seven children and Zemari Ahmadi, an Afghan engineer who had worked since 2006 for an American aid group.  A review of video evidence by the Times shows Zemari loading canisters of water at the charity’s office, after the Pentagon claimed surveillance video showed Zemari loading what they thought were explosives into a car at an unknown compound earlier in the day. “ We put together evidence that showed that what the military interpreted as a series of suspicious moves from the sky was, according to his co-workers and colleagues and video evidence, just an ordinary day for this aid worker, ” says Aikins.

Το Μητσοτακικό καθεστώς ετοιμάζεται να χαρίσει 23 δισ. στα αρπακτικά ταμεία βουλιάζοντας βαθύτερα τη χώρα στη χρεοκοπία!

globinfo freexchange   Ούτε τώρα απαντήθηκε η ερώτηση του Γιάνη Βαρουφάκη προς τον υπουργό οικονομικών του Μητσοτακοκαθεστώτος, Χρήστο Σταϊκούρα. Η ερώτηση αφορούσε, για άλλη μια φορά, τον σκανδαλώδη και κατάπτυστο νόμο "Ηρακλής" του καθεστώτος Μητσοτάκη. Ο Βαρουφάκης ρώτησε αν η κυβέρνηση προτίθεται να εγγράψει στο δημόσιο χρέος τα δισεκατομμύρια με τα οποία θα αποζημιωθούν από το Ελληνικό δημόσιο τα αρπακτικά ταμεία για τα κόκκινα δάνεια.    Όπως αποκάλυψε ο Βαρουφάκης:                       Σήμερα, έχουμε πληροφορίες - το γνωρίζουμε πολύ καλά αυτό - ότι η Eurostat εξέτασε την επισφάλεια των δανείων του πακέτου του "Ηρακλή" και απαιτεί να γραφτούν τα 12 συν 11, 23 δισεκατομμύρια στο δημόσιο χρέος. Δεν ξέρω αν θα γίνει. Ξέρω ότι υπάρχει μεγάλη πίεση και ξέρω ότι έχετε χάσει τον ύπνο σας κύριε Σταϊκούρα γι'αυτό. [...] Αν προσθέσετε σ'αυτό, τον δανεισμό που έχετε προγραμματίσει, των 15 δισεκατομμυρίων για του χρόνου, μιλάμε για συνολική αύξηση του δημόσιου χ

Kidnapping, assassination and a London shoot-out: Inside the CIA's secret war plans against WikiLeaks

Zach Dorfman, Sean D. Naylor and Michael Isikoff   Part 1 - Some in the White House worried that the campaign against WikiLeaks would end up “weakening America”   In 2017, as Julian Assange began his fifth year holed up in Ecuador’s embassy in London, the CIA plotted to kidnap the WikiLeaks founder, spurring heated debate among Trump administration officials over the legality and practicality of such an operation. Some senior officials inside the CIA and the Trump administration even discussed killing Assange, going so far as to request “sketches” or “options” for how to assassinate him. Discussions over kidnapping or killing Assange occurred “at the highest levels” of the Trump administration, said a former senior counterintelligence official. “There seemed to be no boundaries.” The conversations were part of an unprecedented CIA campaign directed against WikiLeaks and its founder. The agency’s multipronged plans also included extensive spying on WikiLeaks associates, sowing discord a

Iran at UN: ISIS would be Europe's neighbor if not for Iran, Syria, Iraq

Moderate Rebels   At the United Nations, Iranian President Ebrahim Raisi called US intervention " the biggest hindrance " to peace and stability, denouncing murderous American sanctions and the new cold war.  https://benjaminnorton.substack.com/p/iran-at-un-isis-would-be-europes  

Kidnapping, assassination and a London shoot-out: Inside the CIA's secret war plans against WikiLeaks

Zach Dorfman, Sean D. Naylor and Michael Isikoff   Part 3 - The immediate question facing Pompeo and the CIA was how to hit back against WikiLeaks and Assange   On April 13, 2017, wearing a U.S. flag pin on the left lapel of his dark gray suit, Pompeo strode to the podium at the Center for Strategic and International Studies (CSIS), a Washington think tank, to deliver to a standing-room-only crowd his first public remarks as Trump’s CIA director. Rather than use the platform to give an overview of global challenges or to lay out any bureaucratic changes he was planning to make at the agency, Pompeo devoted much of his speech to the threat posed by WikiLeaks. “ WikiLeaks walks like a hostile intelligence service and talks like a hostile intelligence service and has encouraged its followers to find jobs at the CIA in order to obtain intelligence, ” he said. “ It’s time to call out WikiLeaks for what it really is: a non-state hostile intelligence service often abetted by state actors like

How US media misrepresent the Wuhan Institute of Virology’s laboratories and safety protocols

Even if we were to accept all the accusations against the WIV regarding their alleged subpar safety standards, none of it has any relevance to the Covid-19 pandemic unless it can be shown the WIV possessed SARS-CoV-2 in its lab before the outbreak, and there is no evidence of that.   by Joshua Cho    Part 2 - State Department cable a ‘nothing burger’   The claim that the WIV was conducting its experiments in substandard or unsafe working conditions started gaining mainstream acceptance when Washington Post columnist Josh Rogin published an op-ed based on redacted State Department cables from 2018. Rogin claimed that the redacted cables were evidence of “safety issues” at the WIV:                                    Two years before the novel coronavirus pandemic upended the world, U.S. Embassy officials visited a Chinese research facility in the city of Wuhan several times and sent two official warnings back to Washington about inadequate safety at the lab, which was conducting risky s

Water as weapon of war: Activists say Israel is drying out the West Bank to drive out Palestinians

What was billed as a cooperative venture between Palestine and Israel is merely the occupation of water in disguise   by Jessica Buxbaum    Part 2 - Soldiers aiding settlers in water attacks   Saturday’s protest was calm and without clashes, but the event was underscored by earlier violence. Tuesday of that week, at least 60 masked Israeli settlers raided Mfakara — throwing stones, turning over cars, cutting water pipes and slitting the throats of sheep. Five children were injured during the attack, including a four-year-old boy who was sent to the hospital after being pelted in the head with rocks. Israeli soldiers watched from the sidelines — during what activists are describing as a “pogrom”– intervening only to fire tear gas, stun grenades and rubber-coated steel bullets at Palestinians. Earlier in September, a CFP protest to deliver water to Palestinian communities was met with violence from Israeli soldiers. Six Israelis and two Palestinans were injured — including Rabee, who was