Tag: austerity

Austerians Create Unemployment

On By southwerkIn Economic Justice

 

Two Standards of Justice
Two Standards of Justice

Austerians Create Unemployment

Austerity Has Cost The U.S. Economy 2.2 Million Jobs: Study

Austerian doctrine states that if we can get the deficit down even during periods of economic slowdown and massive unemployment, we shall see an economic upturn. So far this hasn’t happened anywhere on earth. (There are some claims that two former states of the Soviet Union have done okay with it. I don’t believe that. If you want to, that’s okay. It’s just that I don’t go to the former Soviet Union for my economic data.)

But they have managed to move the economy. Their philosophy has resulted in the destruction of 2.2 million jobs and that’s only in the United States. Ideas move the world, and here we have solid evidence that bad ideas can move the world in the wrong direction.

James Pilant

The Real Cost of Austerity

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Bankers Order the Looting of Greece (via )

On By southwerkIn business ethics1 Comment

I think that this is a highly likely scenario. The practice of American entrepreneurs of exploiting disasters for big bucks has made them experts in extracting the last dime from the crisis victims.

But I have to admit, it was the picture of Snidely Whiplash that got my attention. He is a perfect example of the modern international capitalist – greedy, proud, unashamed, forever on the make, and having a damn good time.

James Pilant

Bankers Order the Looting of Greece According to Max Keiser, people of the kinds of Forbes are already in Greece to get its assets for pennies on the Euro. It is now clear the rest of the countries will come next. That is the plan. Reuters June 18, 2011 A restructuring of Greece's 340 billion euro ($481.5 billion) debt is not on the agenda and would damage the country's credibility on bond markets, the European Union's internal markets commissioner said on Saturday. Forcing Greece' … Read More

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