Greece Circles The Drain

Bad times behind and ahead for Greece and the rest of Europe too, us in the UK particularly. Predictably enough to everyone except politicians, apparently, the austerity neasures adopted first in Greece and then here in the UK have resulted not in Greece leaping like Prometheus unbound from the depths of the recession but finding themselves in even worse straits instead.

http://www.spiegel.de/international/europe/0,1518,712511,00.html

We’re next!
All this is inevitable as austerity measures are a two-edged sword; not only do they reduce public spending on the one hand but they also reduce private spending as its implementation means people simply haven’t got the money to spend. The one thing it does do is make the rich richer by comparison by making the poor even worse off than they were previously. It’s difficult not to think that the motley crew of public schoolboys and old Etonians in government aren’t fully aware of this even if the broader public aren’t.

BB

One Reply to “Greece Circles The Drain”

  1. there were a lot of police prreucatvoos there, also how will a gold standard save the fed? glass steagall to give the banks back their toxic drivel first is the only way to save us no? gold useless with out glass steagall

Leave a Reply

Your email address will not be published. Required fields are marked *