The medicine being used to cure the financial contagion spreading throughout Europe is killing the patient.Government austerity when the economy is spiraling down is like trying to stave off starvation by going on a strict diet. It's sort of like the old joke that "our congregation is so poor that our rabbi would starve to death if he didn't fast every third day."
For nearly two years, the richer countries of the region have pressed harder for spending cuts and tax hikes from poorer countries like Greece, already struggling under a crushing debt accumulated when the global economy was booming.
Those measures have sent the entire euro zone sliding into recession, pushing Greece’s neighbors closer to default and European banks that are holding that shaky debt closer to insolvency.
Elsewhere in the world, Russia and China stood up for the right of a brutal dictator to use his army to massacre his own people. Because they may feel the need to do the same thing.
2 comments:
I want to ask, how did the whole world go wingnut at the same time? But I know the answer.
It isn't a Republican/Democrat thing. Not even a conservative/liberal thing. It's a push by those that believe in totalitarianism, and they are winning against lovers of freedom.
They know how to benefit from it. They know how to get enough of us to fight for them. They know maybe all of what they need to turn the whole world into a feudalist hellhole.
2000, give or take, was the pinnacle of human social evolution, at least for this part of the timeline. The fall will be rapid.
Comrade, I think of austerity as similar to the old medical practice of Bleeding. If the first round doesn't work they come back and administer another and another until the problem no longer exists. Much like the Austerions are doing in Europe.
The trouble with this country is we are a bunch of patsys who would rather vote in the people trying to bleed us rather than riot like the Greeks.
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