Portugal’s economy has rebounded dramatically since its European Union bailout in 2011. Wages are up and unemployment down. What’s surprising is that this happened only as austerity was canceled. It’s the fact … Continue reading Portugal Basks In Post-Bailout Economic Revival : Parallels : NPR
The fiction of financial constraint perpetuated by the budget allows authority figures to treat us like children – but it’s time we understood the facts The government doesn’t operate like a household budget. Every penny the government spends but doesn’t take back in taxes is equal to every penny the private sector, … Continue reading Why do politicians continue to push the zombie creed of austerity?
We now take a break from your regularly scheduled scandals to bring you some not-so-breaking news: austerity was as big a disaster as its biggest critics said it was. That should be … Continue reading Austerity was a bigger disaster than we thought
Dean has one enormous blind spot – his assumption that federal deficits are evil and that the answer is to continue to wage vigorously the long war – … Continue reading Bill Black: Howard Dean Wants to Continue Austerity’s Assault on the Working Class
Well… He was speaking in front of bankers in Frankfurt, so had to pay his allegiance to the banks, which the Greek people have been bailing out over and over again at … Continue reading Schaeuble: Greece is living beyond its means
80% of the population of the USA do not trust and do not appreciate either of the two candidates. The strongest argument for voting Trump is not so much This article describes … Continue reading A more dangerous world is probably coming after the US election!
Welcome to the age of austerity Great article explaining how austerity is not about making countries healthier, it’s about enriching banks. That public, government debt is actually an asset, but we’ve all … Continue reading How the politics of debt explains everything
Nobel Prize-winning economist Joseph Stiglitz predicted in a interview out on Wednesday that Italy and other countries would leave the euro zone in coming years, and he blamed the euro and German … Continue reading Nobel laureate Stiglitz sees Italy, others leaving euro zone in coming years
The agency has been operating without an executive director for nearly a year and has not explained how it will close a $45 million gap in its budget. This is what happens … Continue reading Leaderless and Underfunded, N.J. Transit Had Troubles Well Before Fatal Crash
Rather than casting off the shackles of the EU, eurozone and IMF, the Syriza-led Greek government favors the ‘oligarchs’ it once vowed to tear down and doubles down on austerity measures, leaving … Continue reading In A Mess Of Corruption & Neoliberal Austerity, Syriza Sells Greece Out To The Highest Bidders
There’s a lot of blame to go around for the outcome of the Brexit vote, and I’d put fiscal austerity near the top of the list. Great article in the Washington post … Continue reading The Brexit and budget austerity: What’s the connection? – The Washington Post
Austerity policies not only generate substantial welfare costs due to supply-side channels, they also hurt demand—and thus worsen employment and unemployment. The notion that fiscal consolidations can be expansionary (that is, raise … Continue reading IMF: Neoliberalism – Oversold?