Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
Eiro-group Review –The power of trading education - 4th Dec 20
Early Investors set to win big as FDA fast-tracks this ancient medicine - 3rd Dec 20
New PC System Switch On, Where's Windows 10 Licence Key? Overclockers UK OEM Review (5) - 3rd Dec 20
Poundland Budget Christmas Decorations Shopping 2020 to Beat the Corona Economic Depression - 3rd Dec 20
What is the right type of insurance for you, and how do you find it? - 3rd Dec 20
What Are the 3 Stocks That Will Benefit from Covid-19? - 3rd Dec 20
Gold & the USDX: Correlations - 2nd Dec 20
How An Ancient Medicine Is Taking On The $16 Trillion Pharmaceutical Industry - 2nd Dec 20
Amazon Black Friday vs Prime Day vs Cyber Monday, Which are Real or Fake Sales - 1st Dec 20
The No.1 Biotech Stock for 2021 - 1st Dec 20
Stocks Bears Last Chance Before Market Rally To SPX 4200 In 2021 - 1st Dec 20
Globalists Poised for a “Great Reset” – Any Role for Gold? - 1st Dec 20
How to Get FREE REAL Christmas Tree 2020! Easy DIY Money Saving - 1st Dec 20
The Truth About “6G” - 30th Nov 20
Ancient Aztec Secret Could Lead To A $6.9 Billion Biotech Breakthrough - 30th Nov 20
AMD Ryzen Zen 3 NO UK MSRP Stock - 5600x, 5800x, 5900x 5950x Selling at DOUBLE FAKE MSRP Prices - 29th Nov 20
Stock Market Short-term Decision Time - 29th Nov 20
Look at These 2 Big Warning Signs for the U.S. Economy - 29th Nov 20
Dow Stock Market Short-term and Long-term Trend Analysis - 28th Nov 20
How To Spot The End Of An Excess Market Trend Phase – Part II - 28th Nov 20
BLOCKCHAIN INVESTMENT PRIMER - 28th Nov 20
The Gold Stocks Correction is Maturing - 28th Nov 20
Biden and Yellen Pushed Gold Price Down to $1,800 - 28th Nov 20
Sheffield Christmas Lights 2020 - Peace Gardens vs 2019 and 2018 - 28th Nov 20
MUST WATCH Before You Waste Money on Buying A New PC Computer System - 27th Nov 20
Gold: Insurance for Prudent Investors, Precious Metals Reduce Risk & Preserve Wealth - 27th Nov 20
How To Spot The End Of An Excess Market Trend Phase - 27th Nov 20
Snow Falling Effect Christmas Lights Outdoor Projector Amazon Review - 27th Nov 20
4 Reasons Why You Shouldn't Put off Your Roof Repairs - 27th Nov 20
Further Clues Reveal Gold’s Weakness - 26th Nov 20
Fun Things to Do this Christmas - 26th Nov 20
Industries that Require Secure Messaging Apps - 26th Nov 20
Dow Stock Market Trend Analysis - 25th Nov 20
Amazon Black Friday Dell 32 Inch S3220DGF VA Curved Screen Gaming Monitor Bargain Deal! - 25th Nov 20
Biden the Silver Bull - 25th Nov 20
Inflation Warning to the Fed: Be Careful What You Wish For - 25th Nov 20
Financial Stocks Sector ETF Shows Unique Island Setup – What Next? - 25th Nov 20
Herd Immunity or Herd Insolvency: Which Will Affect Gold More? - 25th Nov 20
Stock Market SEASONAL TREND and ELECTION CYCLE - 24th Nov 20
Amazon Black Friday - Karcher K7 FC Pressure Washer Assembly and 1st Use - Is it Any Good? - 24th Nov 20
I Dislike Shallow People And Shallow Market Pullbacks - 24th Nov 20
Small Traders vs. Large Traders vs. Commercials: Who Is Right Most Often? - 24th Nov 20
10 Reasons You Should Trade With a Regulated Broker In UK - 24th Nov 20
Stock Market Elliott Wave Analysis - 23rd Nov 20
Evolution of the Fed - 23rd Nov 20
Gold and Silver Now and Then - A Comparison - 23rd Nov 20
Nasdaq NQ Has Stalled Above a 1.382 Fibonacci Expansion Range Three Times - 23rd Nov 20
Learn How To Trade Forex Successfully - 23rd Nov 20
Market 2020 vs 2016 and 2012 - 22nd Nov 20
Gold & Silver - Adapting Dynamic Learning Shows Possible Upside Price Rally - 22nd Nov 20
Stock Market Short-term Correction - 22nd Nov 20
Stock Market SPY/SPX Island Setups Warn Of A Potential Reversal In This Uptrend - 21st Nov 20
Why Budgies Make Great Pets for Kids - 21st Nov 20
How To Find The Best Dry Dog Food For Your Furry Best Friend?  - 21st Nov 20
The Key to a Successful LGBT Relationship is Matching by Preferences - 21st Nov 20
Stock Market Dow Long-term Trend Analysis - 20th Nov 20
Margin: How Stock Market Investors Are "Reaching for the Stars" - 20th Nov 20
World’s Largest Free-Trade Pact Inspiration for Global Economic Recovery - 20th Nov 20
Dating Sites Break all the Stereotypes About Distance - 20th Nov 20

Market Oracle FREE Newsletter

FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

Meanwhile in Greece..

Politics / Eurozone Debt Crisis Aug 09, 2016 - 01:33 PM GMT

By: Raul_I_Meijer

Politics

Everyone gets 15 minutes of fame. Greece had its spot in the limelight last year. It is now no longer famous. We have all moved on to bigger dramas, or so we think. The French feel they are the victims because of terrorist attacks, the British because of Brexit, Americans because of Trump.

Warhol’s 15 minutes of fame line is as much about the average human being’s attention span as it is about anything else, like the proliferation of media. The data in the picture at the top of this article are from 2014. They are what moved Greeks to elect Syriza in early 2015. But the Greeks found out within 6 months that this made no difference; the Troika called the shots, not the Greek people, not its government.


Every single one of the numbers in that pic has gotten worse over the past two years since it was released, often by a lot. There are hundreds of thousands of Greeks who make anywhere from €100 to €500 a month working the only part time jobs they can find. 1.2 million workers must wait anywhere from 3-15 months for their salaries to be paid.

But they’re the lucky ones; at least they have jobs. There are millions who don’t make any money at all. 3 million Greeks have no health care coverage because of this. That’s 30% of the population. A related quote I first put up last year is: “..if you are sick in Greece now, you have an expiration date.”

The IMF report I wrote about recently in Why Should The IMF Care About Its Credibility? states unambiguously that the IMF itself, in cahoots with the EU, is to blame for all this misery. But we haven’t seen one single word that would indicate there are plans to rectify this gross injustice.

The austerity measures forced upon Greece by the EU and IMF squeeze the country itself, and the people who inhabit it, into ever growing desolation, with no way out at all on the horizon. A country and its economy cannot heal or recover when it has a 25% unemployment rate, and 50-60% for its young people. And has seen hundreds of thousands of its best educated people leave the country.

Moreover, with pensions, on which a large part of the overall population depends just to survive, having been cut for the umpteenth time (supplementary pensions were cut between 21% and 46% on August 1), while a wide range of taxes keep rising across the board, consumption is being strangulated, which leads to more companies and stores closing, more unemployment, rinse and repeat. You can find it in the dictionary under ‘vicious circle’. Or in the Greek one under ‘Schäuble’ or ‘Dijsselbloem’.

And then Angela Merkel had the gall not long ago to claim the EU had found the ‘right mixture’ of policies with regards to Greece. These people are so -willingly- blind, and they care so little about what their policies do to people, they couldn’t find a ‘right mixture’ if it drove over them in a truck.

Greece is being ritually slaughtered, and the Brexit referendum has not taught Brussels one single lesson. They’re not going to understand until it’s too late and the EU blows up, but that may still take some years, while for the Greeks it’s already too late now.

The Troika should really -certainly after the IMF report- be forced to repeal their ‘policies’ versus Greece, but who’s going to force them? They’re not accountable to anyone. Well, except for the IMF executive board, but they are just a bunch of …. And the other Troika side, the EU, is a lost case.

On top of the country’s internal problems, there are now 57,000 refugees stuck in Greece. 21,000 of them have requested asylum. Plans to relocate them through the EU have been miserable failures. Most of the refugees live in one of dozens of improvised camps in below-par conditions. Those who don’t have papers are often de facto prisoners.

More misery is on the way. The Troika has forced through a law that will make it much easier to foreclose on homeowners who can no longer pay their mortgages. It’s not hard to see that there are many of them. The country must therefore prepare for another epidemic of homelessness, a scary prospect for a society that’s already been hit so hard.

As you will know if you’re a regular reader of the Automatic Earth, I started the “Automatic Earth for Athens Fund” last spring when I first went to Greece to see what the Syriza ‘revolution’ would bring (we now all know what it brought). The donations from Automatic Earth readers into the fund went far beyond what I could have dreamed of.

After donating some of it to two volunteer clinics and am institute for streetchildren (see links to articles below), I decided to focus on donating the funds to O Allos Anthropos (which means The Other Human), a group of impoverished Greeks who feed other poor Greeks, and do so by cooking in the street. The movement is led by someone who has become a dear friend, Konstantinos (Kostas) Polychronopoulos.

Konstantinos (Kostas) Polychronopoulos

I have been back in Athens for a few months now, talked to Kostas quite a bit, and donated more of your money. So much so that there is nothing left. I paid the rent for the ‘nerve center’ in May (€2,054 per 3 months) and a total of €2,500 in May and June to repair Kostas’ car, without which the entire organization would grind to a halt. And then paid the rent again this Thursday, another €2,054.

My administration indicates that you have donated $24,370 to date, and I have given away $26,694. The numbers can’t be exact, because donations come in in USD, EUR and CAD, and exchange rates vary. Also, Paypal takes ‘its share’, which also varies. But one’s thing’s sure: the money’s been spent, and well spent. Actually, two things are sure, the second being that more money is needed.


Kostas was so happy to have his car running again, and you made that possible. It’s taken him ‘twice around the whole country’ in the past year. 13 different cities. It costs €500 to get a return ticket on the ferry to Lesbos with the car…

I am hesitant to ask the same people repeatedly to donate, but I will, because at this moment I have no choice. After I paid the rent two days ago Kostas told our friend and translator Tassos that he had two euros left in his pocket. And that’s not good. Of course I’ve known all along that the money could run out, but also that it won’t be for my lack of trying. And yes, this has become personal over the past year.

And now, not only will there be another wave of homelessness, other things deteriorate as well. A few weeks ago Kostas told me that donations of food, his by far most important kind of donations, are down by over 40%. People in Greece simply don’t have the money anymore to afford donations. While he has 13 ‘social kitchens’ running all over Greece which together prepare 3-5000 meals every day, and would like to do more, but can’t because he doesn’t have the means.

Another issue too has raised its head. Volunteer clinics like the ones I donated to a year ago are now coming to Kostas to see if he can get them medicine and various medical accessories. So he’s looking into that, with doctors to guide the process. There are people who donate unused medication, it’s starting up and the need there is great too.

Meanwhile, increasingly people come to O Allos Anthropos to be fed, who used to donate food themselves. Society is changing for the worse rapidly. The ‘nerve center’ I paid the rent for a few times allows some 100 homeless people every day to get a shower, have breakfast, do laundry, and have their children get help with schoolwork, often with pens and paper and books and schoolbags that are also donated.

According to Kostas, there are 155 NGOs operating in Greece. And while some undoubtedly do some good, it’s hard not to wonder what most of them do. Some of the issues with NGOs coming to Greece are obvious: for the big ones it’s their corporate structure, and for many it’s that they come from abroad and don’t know the culture. Though I don’t want to say anything negative about this, fact is there must be millions of euros flowing through this ‘industry’, and it’s hard to see where it‘s going.

It’s precisely because of such issues that I have chosen to support Kostas and O Allos Anthropos. They are Greek, they don’t make money from their involvement, so every penny goes towards those who need it most, and they are themselves as poor as those they help. And Kostas is the little engine that could who holds it all together, and holds everyone together.

Here is a video featuring Kostas from 2 years ago. What struck me when seeing it again is that he’s proud of going from handing out 20 to 200 meals per day. Since then, he’s gone to 5000 per day. And yes, I also do get the irony in the role that your donations to the Automatic Earth for Athens fund have played in making that development possible. I would deeply regret having to bow out now, and leave Kostas to himself. Not that he wouldn’t make it, but we, you and me, have made a big difference. But I can’t do it alone, it has to be as much of a community effort as O Allos Anthropos itself is. So please help.

I’ll get back to you about this soon. I’ve been breaking my head trying to figure out how to collect more funds to continue supporting O Allos Anthropos, lying awake at night over it. Yeah, we could turn to crowdfunding perhaps, but I think it’s important that it would have to be done right, and this is not my expertise.

Kostas is a bit of a difficult ‘customer’ to work with, but for good reasons in my eyes. He doesn’t want the group to become an official organization, he doesn’t want to become an NGO, and he doesn’t want to apply for government support. Because all these things would lead away from what he thinks is essential: people helping people.

He refused an award from the EU last year saying ‘you guys are responsible for this mess and this misery, I want nothing from you’. ‘Official’ support comes with conditions, with people wanting to tell you what to do and how to do it. But yes, it makes it harder to keep things afloat, and to help where help is needed.

Kostas has many ideas for how he would like to change and expand his operations, but for now just holding on to the basics is a battle. He was talking the other day about villages in the mountains where mostly older people live, isolated and in dire need of food and medication, of how he would like to set up a way to reach out to them.

I’ll leave this here for now. If anyone has ideas about for instance a crowdfunding campaign, please contact me at contact •at• TheAutomaticEarth •dot• com. For anyone in the medical profession, if you have ideas about how to get medication here from abroad, please let me know. There is a great need for insulin, various cancer drugs are not available in the country at all anymore, and then there are things like blood pressure tests, blood sugar tests, hearing aids and wheelchairs.

I’ll get a full list from one of the hospitals soon. Everything medical will run through them too.

For donations to Kostas and O Allos Anthropos, the Automatic Earth has a Paypal widget on our front page, top left hand corner. On our Sales and Donations page, there is an address to send money orders and checks if you don’t like Paypal. Our Bitcoin address is 1HYLLUR2JFs24X1zTS4XbNJidGo2XNHiTT.

To tell donations for Kostas apart from those for the Automatic Earth (which badly needs them too!), any amounts that come in ending in either $0.99 or $0.37 (don’t ask), will go to ‘The Other Human’.

Please give generously.

I made a list of the articles I wrote so far about Konstantinos and Athens. Not sure if it’s complete.

June 16 2015

The Automatic Earth Moves To Athens

June 19 2015

Update: Automatic Earth for Athens Fund

June 25 2015

Off to Greece, and an Update on our Athens Fund

July 8 2015

Automatic Earth Fund for Athens Makes First Donation

July 11 2015

AE for Athens Fund 2nd Donation: The Man Who Cooks In The Street

July 22 2015

AE Fund for Athens: Update no. 3: Peristeri

Nov 24 2015

The Automatic Earth -Finally- Returns To Athens

Dec 25 2015

Help the Automatic Earth Help the Poorest Greeks and Refugees

Feb 1 2016

The Automatic Earth is Back in Athens, Again

Mar 2 2016

The Automatic Earth for Athens Fund Feeds Refugees (Too)

By Raul Ilargi Meijer
Website: http://theautomaticearth.com (provides unique analysis of economics, finance, politics and social dynamics in the context of Complexity Theory)© 2016 Copyright Raul I Meijer - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Raul Ilargi Meijer Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules