I have been writing about the stupidity of "Austerity" alone for quite some time
Mon Sep 06, 2010 at 07:57 AM CEST
A Morning Muse: Economic D-Day
The song from the top 1% is that we cannot afford our social policies, they are correct as long as we support their excesses. Austerity will only drive our post WWII advances backwards and will not benefit anyone but the already excessively rich.
Mon Jun 21, 2010 at 08:09 AM CEST
** Austerity **
This is our wealth not some global virtual monopoly game played by a few. Yet we are all subject to its vicarious whims and politics.
We paid for them on the way up, we paid for them when they failed, and now we will pay for the virtual debts they created.
Fri Nov 26, 2010 at 07:09 PM CET
We Are Suckers.
We are being taught to be small minded and petty; and in the meantime our societies so hard fought for are being eviscerated and sacrificed at the fallacious alter of 'fiscal responsibility'. Our common dreams are turning into a collective nightmare.
I can also point to quite a few others with a common theme http://www.dailykos.com/...
Looks like someone else agrees
The news that the credit ratings agency Standard & Poor's has downgraded nine of the eurozone area governments' debt is another pyrrhic victory for the "austerity" party and another defeat for economic logic.
S&P cites reduced bank lending, higher government yields, lower spending by governments and households, weaker growth and political infighting and paralysis for its decisions.
However the results of this downgrade will raise interest rates, once again profiting those at the top end of the heap and hurting those at the bottom.
Austerity has failed, since it was designed to fail.
It is time for a fundamental change in Europe away from these right wing policies, if you want the European dream to work, then stop throttling it incessantly.
Think of the credit ratings as a score card, the score austerity has received is a Fail.
We better start doing something adventurous soon and bail out those who can stimulate the economy, it is time to bail out the 99%.