Category: Economic Austerity
The analysis published under this category are as follows.
Tuesday, June 12, 2012
What Will Economic Austerity Look Like for America? / Economics / Economic Austerity
By: EWI
Since the start of the European sovereign debt debacle, the word "austerity" has been bandied about a lot.
It wasn't an everyday word, and may send some people to the dictionary. Merriam-Webster defines "austerity" this way: enforced or extreme economy.
Read full article... Read full article...
Thursday, June 07, 2012
The Day of American conomic Austerity: What Will It Look Like? / Economics / Economic Austerity
By: EWI
Since the start of the European sovereign debt debacle, the word "austerity" has been bandied about a lot.
It wasn't an everyday word, and may send some people to the dictionary. Merriam-Webster defines "austerity" this way: enforced or extreme economy.
But even knowing this definition might leave one wondering how "austerity measures" relate to Europe's debt crisis. The Associated Press (5/13) provided this overview:
Read full article... Read full article...
Wednesday, June 06, 2012
When Economic Austerity Fails / Economics / Economic Austerity
By: Colin_Twiggs
Austerity decimated Asian economies during their 1997/98 financial crisis and similar measures have failed to rescue the PIIGS in Europe 2012. David Cameron’s austerity measures have also not saved the UK from falling back into recession. So why is Wayne Swan in Australia so proud of his balanced budget? And why does Barack Obama threaten the wealthy with increased taxes while the GOP advocate spending cuts in order to reduce the US deficit? Are we condemned to follow Europe into a deflationary spiral?
Thursday, May 17, 2012
Economic Austerity Offers Europe their Only Hope / Economics / Economic Austerity
By: Michael_Pento
The prevailing view amongst Keynesians is that the austerity measures being taken in Europe to prevent a complete currency and bond market collapse is the cause of their current recession. But blaming a recession on the idea that an insolvent government was finally forced into reducing its debt is like blaming a morning hangover on the fact that you eventually had to stop drinking the night before.
Read full article... Read full article...
Wednesday, May 09, 2012
Do You Want To Trigger a Zombie Revolution? Then stick to phony austerity / Politics / Economic Austerity
By: Bill_Bonner
The financial news yesterday was dominated by alarming reports from Europe.
“Backlash,” said The Financial Times…referring to an “anti-austerity wave” that washed over Europe in weekend voting.
If the FT doesn’t mind mixing metaphors, we don’t either. But our metaphors are a bit different. What has happened is not a backlash but a wake-up call. It comes as voters realize that the placebo medicine – phony, half-hearted austerity measures peddled by the Euro elite – don’t work. They want an elixir with more of a kick to it. That’s why the leftists are gaining so much ground.
Read full article... Read full article...
Tuesday, May 01, 2012
Economic Austerity Fires Voter Vengeance Against Euro / Politics / Economic Austerity
By: John_Browne
Over the last few years, as the debt crisis has engulfed Europe, the risk that has most concerned economists has been the possibility that the so-called 'olive growing countries' of Portugal, Italy, Greece and Spain, joined by Ireland (and known as the PIIGS) might leave, or be forced out, of the Eurozone. The possibility that Germany may choose to leave, however, is something that has received far less consideration. Though there can be little doubt the euro would survive without the Greeks or the Spanish, there is greater doubt of the euro surviving without the Germans solidly behind it. As the world's second largest reserve currency, the collapse of the euro would precipitate a major international monetary crisis.
Read full article... Read full article...
Monday, April 30, 2012
Sarkozy's Economic Austerity Gamble: The Failure Of Neoliberal Snakeoil / Politics / Economic Austerity
By: Andrew_McKillop
Outgoing president Sarkozy of France has only a few days to go before his come-uppance. Barring a miracle, pollsters say he is beaten by Parti Soialiste candidate Francois Hollande, but much more than a personal humiliation and a disaster for Sarkozy's fragile UMP party, a victory for Hollande will signal huge challenges for the "only possible policy" of austerity and mass unemployment, forced on the rest of Europe by German chancellor Merkel. In Greece and Spain, and other PIIGS countries this has already had disastrous economic and fiscal impacts - let alone the social damage. For sure and certain failure - either in growth or in recesssion - neoliberalism is above all reliable. Discussing and dissecting this flabby set of laisser-faire slogans and economic horse medecine has become daily fare in French media, throughout the long presidential compaign, almost certainly radicalizing the voting public and intensifying hostility to "Mrs Thatcher's purulent fantasies of 30 years ago", as one leading anti-Sarkozy candidate, Jean-Luc Melanchon has put it.Read full article... Read full article...
Thursday, September 22, 2011
Don't Get Stung by Obama's Deficit-Reduction Plans / Stock-Markets / Economic Austerity
By: Money_Morning
Martin Hutchinson writes:
In the last 10 days, U.S. President Barack Obama has unveiled three distinct deficit-reduction plans to solve the nation's economic problems.
While all three have their good points, each has its own set of problems, too - including the time-consuming political firestorm we can expect to see as the plans are debated in Congress.
Read full article... Read full article...
Sunday, September 18, 2011
The Architects of Economic Collapse: The Case of Latvia / Politics / Economic Austerity
By: Michael_Hudson
Prof. Jeffrey Sommers and Prof. Michael Hudson write: Anders Åslund and other austerity cheerleaders tout Latvia as a poster child for huge cuts. Nothing could be further from the truth
This past month's economic data reveals the global economic crisis continues to worsen, and by its duration and severity threatens to become known as the Great Depression II. Yet, even though it is evident to most that our problems arose from finance run wild, several media commentators claim the fault lies with its victim, the public. Instead of curbing finance, they advise governments impose radical austerity measures, which, in this economy, is tantamount to throwing the drowning victims an anchor, while tossing the perpetrators a life-preserver in the form of cash.
Thursday, September 15, 2011
Greek workers plunged into social misery / Politics / Economic Austerity
By: Global_Research
Robert Stevens writes: With Greece verging on a default of its debt of around €330 billion, and facing a forced exit from the eurozone, the PASOK government of Prime Minister George Papandreou is escalating its austerity programme against an already pauperised population.
Since its election in October 2009, PASOK has initiated a social counter-revolution, destroying the living standards of the working class.
Read full article... Read full article...
Sunday, August 07, 2011
The Stock Market Has Spoken: Economic Austerity Is Bad for Business / Economics / Economic Austerity
By: Ellen_Brown
It used to be that when the Fed Chairman spoke, the market listened; but the Chairman has lost his mystique. Now when the market speaks, politicians listen. Hopefully they heard what the market just said: government cutbacks are bad for business. The government needs to spend more, not less. Fortunately, there are viable ways to do this while still balancing the budget.
Tuesday, July 19, 2011
Economic Austerity, The right to know why and for whom / Politics / Economic Austerity
By: Michael_T_Bucci
I don't like an acquiescent democracy. And that is exactly what the American people have become: a people who stand in line, keep their mouths shut and do what they're told.
Read full article... Read full article...
Wednesday, June 22, 2011
Economic Austerity Is Good for the Greeks / Politics / Economic Austerity
By: Gary_North
Have you noticed the media reports on the intolerable nature of austerity in Greece? Have you read anything that praises this austerity and calls for more? You're about to.
The austerity we read about is a code word for "government spending cutbacks." In a media world run by Keynesians, the thought of cutbacks in government spending is a nightmare scenario. Keynesians believe that government spending is the source of both stability and growth in an economy. Any suggestion that the government has been spending far too much money is regarded as heretical.
Read full article... Read full article...
Monday, April 11, 2011
One Man's Fiscal Austerity is Another's Economic Prosperity? / Politics / Economic Austerity
By: Paul_L_Kasriel
Fiscal austerity is all the rage these days in the developed economies. The proponents of fiscal austerity argue that it will lead to economic prosperity. The opponents of fiscal austerity argue that it will lead to poverty. Who is correct?
Read full article... Read full article...
Tuesday, April 05, 2011
Republican Budget Plan Targets Medicare With $4 Trillion in Total Spending Cuts / Politics / Economic Austerity
By: Money_Morning
Kerri Shannon writes:
House Republicans will release their 2012 budget plan today (Tuesday), proposing more than $4 trillion in cuts over the next decade and trimming billions of dollars from Medicare expenses.
House Budget Committee Chairman Rep. Paul D. Ryan, R-WI, prepared the spending outline for the fiscal year beginning Oct. 1.
Read full article... Read full article...
Saturday, April 02, 2011
Jobless Economic Recovery, Drowning in Debt, Austerity Suffering Working Class / Economics / Economic Austerity
By: John_Mauldin
- Can You Say Jobless Recovery?
- Drowning in Debt but Getting No Growth
- The Cancer of Debt
Clowns to the left of me, Jokers to the right,
Here I am, stuck in the Muddle Through Middle with you! –With thanks to Stealers Wheel
Friday, March 18, 2011
Europe's Economic Austerity: a Grimm's Fairy Tale / Politics / Economic Austerity
By: Submissions
Conn Hallinan writes: In the Greek town of Aphidal, people have stopped paying road fees. In Athens, bus and metro riders are refusing to cough up the price of a ticket. On Feb. 23, 250,000 Greek protesters jammed the streets outside the nation's parliament.
The Portuguese nominated the protest song "A Luta E' Alegria" (The Struggle is Joy) for the Eurovision song contest and, when judges ignored it, walked out in protest. They also put 300,000 people into the streets of the country's major cities on Mar. 12.
Monday, March 07, 2011
How Wisconsin Can Turn Economic Austerity into Prosperity / Economics / Economic Austerity
By: Ellen_Brown
As states struggle to meet their budgets, public pensions are on the chopping block; but they needn’t be. States can keep their pension funds intact and leverage them into many times that sum in loans, just as Wall Street banks do. They can do this by forming their own banks, following the lead of North Dakota, the only state either to have its own bank or to have a major budget surplus.
Thursday, December 23, 2010
Economic Austerity Fails in Euroland: Time for Some Deficit Easing? / Economics / Economic Austerity
By: Ellen_Brown
“Doubtful it stood, as two spent swimmers that do cling together, and choke their art.” --Shakespeare, “Macbeth”
The Greek bailout was supposed to be an isolated case, a test of the EU’s ability to quarantine an infected member, preventing it from spreading “debt contagion.”
Read full article... Read full article...
Thursday, December 16, 2010
U.S. Economic Austerity May Result in Unrest on America's Streets / Politics / Economic Austerity
By: Danny_Schechter
William Shakespeare put a key question this way; “To Be Or Not To Be?” Today’s economists and policy makers pose a different choice: to spend or not to spend.
Governments throughout the west are in a panic as debt mounts and economies contract.
Read full article... Read full article...