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Tag Archives: austerity
World watching as Canada casts aside austerity and gambles on a fiscal surge
World watching as Canada casts aside austerity and gambles on a fiscal surge A global economic debate plays out in Canada as our government goes from miser to spendthrift Canada’s Prime Minister Justin Trudeau and Finance Minister Bill Morneau are taking Canada into unknown waters, betting that spending will do what austerity has not. (Reuters) […]
How Iceland Escaped From The One Bank
How Iceland Escaped From The One Bank What have the governments of the corrupt Western bloc spent most of their time doing since the Crash of ’08? We can answer this question in three parts: 1) Creating increasingly falsified “statistics” to fabricate the illusion that their economies were not on the verge of all-out economic collapse; 2) Hacking and slashing every […]
Spain Says “No”
Spain Says “No” For the third time in a year, the tight-fisted, austerity policies of the European Union (EU) took a beating, as Spanish voters crushed their rightwing government and overturned four decades of two-party reign. Following in the footsteps of Greek and Portuguese voters earlier this year, Spaniards soundly rejected the economic formula of […]
Europe – Here we GO Again
Europe – Here we GO Again The European economic crisis just keeps getting worse. The European Commission is now planning to pool all money for bank bailouts among nations. That means the funds set aside in Germany to weather German bank failures can be used in France. Meanwhile, the EU is preparing for relaxing the stability policy (austerity) because […]
New Socialist Government Keeps Portuguese People Under The Whip
New Socialist Government Keeps Portuguese People Under The Whip Portuguese Revolution Falls Far Short The austerity imposed on the Portuguese people by the One Percent has resulted in the election of a coalition government of socialists, communists, and a “left bloc.” In the 20th century, socialism and the fear of communism humanized Europe, but beginning […]
“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt
“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt One thing that became abundantly clear after Alexis Tsipras sold out the Greek referendum “no” back in the summer after a weekend of “mental waterboarding” in Brussels was that the public’s perception of the once “revolutionary” leader would never be […]
Ex-World Bank chief economist exposes “failure” of austerity, deregulation
Ex-World Bank chief economist exposes “failure” of austerity, deregulation Joseph Stiglitz, a senior OECD expert, slams OECD’s own policies to prevent global slowdown In a little-known speech at the United Nations University, renowned Nobel Prize-winning economist Joseph Stiglitz criticised Western approaches to addressing the global economic crisis for being obsessed with market solutions that cannot […]
Is the Troika About to Lose Control of South-Western Europe?
Is the Troika About to Lose Control of South-Western Europe? The Price of “Austerity” Passos Coelho, who was until Tuesday Prime Minister of Portugal, knew “what to do.” After signing along the dotted line for a €78 billion bailout he embraced the Troika’s austerity agenda with abandon. Public spending was slashed, taxes were hiked, wages […]
Visualizing The Demise Of The Once Mighty Euro
Visualizing The Demise Of The Once Mighty Euro The European Union has always been primarily a political project. The idea of the union was to take peoples that had long and complicated histories, and to place them in a situation where they must work together and shed their differences in order to achieve success. From the […]
Austerity Good or Bad?
Austerity Good or Bad? QUESTION: Martin, The ‘Austerity’ argument seems a bit confusing. Surely, “Austerity” means reducing the size of Government and is an understanding that we can’t keep funding zillions of civil/public servants and on the other is a reduction of the Social Security Bill – healthcare, social benefits, the cost of the un and […]
Austerity or Hyperinflation. Which is the Precursor to Revolution?
Austerity or Hyperinflation. Which is the Precursor to Revolution? QUESTION: Mr, Armstrong; I recently read an article claiming to be a case study that it was somehow the French hyperinflation that led to the revolution. It seems that as you say they are again mixing facts to support a rise in gold with hyperinflation. I am a […]
A Hapless Brazil Incurs Massive Losses On FX Swaps Amid Currency Carnage
A Hapless Brazil Incurs Massive Losses On FX Swaps Amid Currency Carnage As we’ve documented extensively of late, a host of idiosyncratic political factors have served to exacerbate what was already a very, very bad situation for emerging markets. This dynamic is most readily apparent in Brazil and Turkey, and although Ankara probably has a […]
Peak Oil Ass-Backwards (part 3): Forget Austerity and Grexit – it’s Time for a Gretaway!
Peak Oil Ass-Backwards (part 3): Forget Austerity and Grexit – it’s Time for a Gretaway! “Taaaaake myyyyyy moneeeeey! Pleeeeeease!” So here we are on this precipice of sorts, staring upon the twilight of the industrial economy due to peaking energy supplies and thus peaking credit supplies (as explained in part 2 of this 3-part series). Simply put, being on […]
Whitewashing the IMF’s Destructive Role in Greece
Whitewashing the IMF’s Destructive Role in Greece This autumn may see anti-austerity coalitions gain power in Portugal, Spain and Italy, while Marine le Pen’s National Front in France presses for outright withdrawal from the eurozone. These countries face a common problem: how to resist the economic devastation that the European Central Bank (ECB), European Council […]
Co-operatives Need to Confront Climate Chaos
Co-operatives Need to Confront Climate Chaos The challenges for 2015 are the same ones we’ve failed as a movement to find solutions to, or even act on, for a very long time: climate change and the neoliberal politics of austerity. The co-operative movement needs to work internationally to stop oil companies extracting, and governments and […]
