Beware “Austerity”
Another look at the economic shenanigans taking place in Europe right now: “Eurozone Crisis is Self-inflicted” by Mark Weisbrot.
And we might as well take this opportunity to recognize “austerity” as the buzzword of the day: code for economic raiding of public assets by private interests. Basically, it means “everyone else tighten your belts, while we raid the cookie jar.”
This standard Milton-Friedman-esque IMF-ish ploy, first perpetrated in far distant lands (Latin America, Asia, Africa), is now coming home to roost in the “western” countries (Iceland, United States, Greece).
Now that the rich boys have scoured the globe, I guess they’ve decided to target the really big prizes, before the whole charade falls completely apart. This could be a good sign, perhaps the end of this economic horror show is fast approaching.