tagged w/ Austerity Measures
-
It’s not technically hard to put millions of unemployed workers back on the job—the real challenge is political, says Nobel Prize-winning economist Paul Krugman. Even returning the public-sector jobs that have been slashed at the state and local levels could lower the unemployment rate to nearly 7 percent or under, he said.
Krugman spoke this week at the Economic Policy Institute (EPI) and on a variety of media outlets around the nation to promote his new book, End This Depression Now! In short, says Krugman:
One party that has run off the deep end and is not interested in running this country at all.
Hmm. Wonder which one that could be?
Taking issue with the Washington consensus that the economy is faltering due to “structural unemployment”—economist-speak for “more need the right skills to fill jobs,” Krugman said the structural problem is not with the economy but with politics.
In fact, a recent EPI report projects that the education and training levels necessary for the labor force of 2020 “shows that jobs will not require a significantly greater level of education or training than workers currently possess.”
Another falsehood being passed off as truth is that cutting spending improves the economy—when instead, it depresses it. This turn toward austerity measures—cuts to jobs, social services and needed repair work to our schools and roads—is bad economics. Just look at Europe, Krugman said.
We’ve had one hell of an experiment in austerity and the results are in. European countries are on a downward slope.
Meanwhile, our nation’s own experiment in austerity has resulted in an “unprecedented fall in public employment and a fall in goods and services.
Krugman, who writes a column and blog for The New York Times, applauded new media for its ability to engage readers and provide interaction. But content on such platforms disappears too quickly, he says. So Krugman pushed forward with the book to create a more permanent account and to offer solutions to the nation’s economic morass. The most urgent question, as Krugman sees it, is if you’re in a bust “what can you do about it?”
There’s no good reason to waste a large amount of your productive capital. The question is, what do we do now.
http://www.aflcio.org/Blog/Economy/Krugman-Challenge-to-Nation-s-Economy-Political-Not-TechnicalIt’s not technically hard to put millions of unemployed workers back on the... more
-
-
kvb1
-
added this
-
23 days ago
- |
-
Occupy Grand Rapids holds first rally of 2012, sets date to ‘re-occupy’ downtown,New occupation is Financial District sidewalk,Occupy wall street calls for divest from Bank of America,Chicago activist urges ECC community to protest NATO summitOccupy Grand Rapids holds first rally of 2012, sets date to ‘re-occupy’... more
-
-
Fiscal austerity policies being implemented by countries are driving the global economy towards a recession, the United Nations trade and development body warned today, stressing that greater attention should be paid to high unemploymentFiscal austerity policies being implemented by countries are driving the global... more
-
-
Fascistas. Keep fighting people of Italy.
-
-
World Bank chief urges “definite steps” by Europe
Animals Loose in Ohio: Town Under Lockdown
No “Hope” or “Change” but Obama campaign HQ buzzesWorld Bank chief urges “definite steps” by Europe
Animals Loose in Ohio:... more
-
-
RT t.v. video; http://rt.com/news/london-police-officers-cut/
In this report a look at the riots and police cuts that are likely to deepen given the austerity. A youth worker gives voice to one of the reasons these riots have occurred and a govt. representative speaks about returning their troupes from two "pointless wars". I noticed in one picture a Panasonic store had been looted but not others in the area. No focus of the riots? I also suggest that the big fire that was set was not all it seemed to be. Could some landlord had it set to collect insurance and then sell the property to developers at a high price? No! that would never happen! Right?
This isn't just "thugs" this is an animal who is trapped, that has cried out for months without being listened to, chewing its own limb off. This is not random or unprovoked. I deplore the cries of "criminality" and "thievery" being bantered about in the msm yet this is from the same mouths who didn't say a word against the robbery and usury of the elite and Banking systems of the world.RT t.v. video; http://rt.com/news/london-police-officers-cut/
In this report a look... more
-
-
Thousands of Spain’s “indignant” protesters reoccupied Madrid’s main square a day after riot police swooped down on demonstrators who rallied at the interior ministry to protest its closure.Thousands of Spain’s “indignant” protesters reoccupied... more
-
-
Washington, D.C.- Dean Baker, co-director of the Center for Economic and Policy Research (CEPR), issued the following statement on the Gang of Six deficit plan:Washington, D.C.- Dean Baker, co-director of the Center for Economic and Policy... more
-
-
An emergency meeting of European leaders in Brussels on Thursday to discuss another Greek bailout will decide the future of the euro. If they do what they have done so often since the crisis first began in Greece some 18 months ago,An emergency meeting of European leaders in Brussels on Thursday to discuss another... more
-
-
Secretary of State Hillary Clinton says the United States “unequivocally” supports the economic recovery plan of Greek Prime Minister George Papandreou. Clinton held talks with top Greek officials in Athens in advance of a critical European meeting Thursday on a second financial bailout for Greece.Secretary of State Hillary Clinton says the United States “unequivocally”... more
-
-
A health check of European banks is expected to show that as many as 15 lenders need more capital to withstand a prolonged recession, with criticism growing that Europe has been too slow to repair the industry.A health check of European banks is expected to show that as many as 15 lenders need... more
-
-
I personally believe this plan is a violation of the basic human rights of the Greek people. Privatizing water will lead to the poor and disadvantaged not being able to afford it. Denying anyone water based on commoditizing and privatizing it is a human rights abuse. The Greek government needs to tread very softly in looking to cover their own mistakes by laying the brunt of any recovery upon their people. The people of Italy just recently voted down a referenda on privatization of water. The people of Greece need to fight this hard.I personally believe this plan is a violation of the basic human rights of the Greek... more
-
-
In this era of austerity we all have to look after our pennies. Here's ten movies to help us do just that. http://www.top10films.co.uk/archives/7213In this era of austerity we all have to look after our pennies. Here's ten movies... more
-
-
When other nations' governments go off track, their people do something about it. In Tunisia and Egypt people have nonviolently claimed power in a way that has inspired Americans in Wisconsin and other states, as well as the people of Spain and the rest of the world.
Washington, D.C., is the weakest point in our democracy, without which state-level reform cannot succeed. Most Americans want our wars ended, our corporations and billionaires taxed, and our rights expanded rather than curtailed. We want our money invested in jobs and green energy, not a global military that can't stop itself. Our government in Washington goes in the opposite direction, opposing popular will on these major issues, regardless of personality or party.
On October 6th, a Thursday, the Afghanistan War will complete its first decade as the United States goes into its 2012 austerity budget. Tahrir Square in Cairo Egypt translates as Liberation Square. We have in Washington, D.C., a square with the similar name: Freedom Plaza. This square is located between the Capitol and the White House along Pennsylvania Avenue, and built into its surface is a map of downtown Washington on which nonviolent resistance actions can be conveniently planned.
Today a coalition of organizations and prominent individuals is announcing at http://october2011.org a plan to begin a people's occupation of Washington, D.C., on October 6th, to build it into something larger on the 7th, 8th, and 9th, and to not leave until we are satisfied. There is absolutely no reason that our government must be permitted to continue functioning on behalf of Wall Street and a war machine. In Afghanistan, the people protest our bombing of their homes. We sit inside our own homes complaining about our economy, our banks, our schools. Instead, we now have a chance to have a say, in solidarity with others around the world, with success just as likely -- if just as shocking to those in power -- as with past U.S. people's movements and the recent advances in Tunisia and Egypt.
This will not be another rally and march on a Saturday, make home movies, pat ourselves on the back, and go home. We are coming to Washington to stay. Today's announcement is an open invitation for all kinds of organizations, national and local, to join in the early planning stages of this campaign. We need not agree on political ideology or party or much else. We need only agree that nonviolent resistance to a government that routinely ignores the will of its people is appropriate in our nation as well -- even above all, given our nation's impact on the environment, global finances, and wars.
Over this past weekend Wikileaks revealed that the U.S. government had been quite upset with Britain's Prime Minister Gordon Brown for pulling troops out of Iraq, and had accused him of something even worse: of having pulled the troops out in order to please the British public and win an election. What, we might ask, would be wrong with the U.S. government occasionally doing what the U.S. public demands? When I'm in London later this week I will be pleased to let them know we're alive over here with exciting plans for October, and in fact to ask them to join in on October 6th -- they have plenty of good squares over there too.
On the new website http://october2011.org , which lists an impressive number of groups and individuals already committed, you can sign a pledge to be there on October 6th and to stay. But how can you be sure you want to make that commitment? How can you agree to travel great distances and make great sacrifices? Sure, to be part of history, to be able to tell your grandchildren you were there for the most famous event of the new century, you could do it. But how can you be sure that's what this will be? Well, nothing is strictly guaranteed, but you can sign up right here http://october2011.org/besure committing to be there and to do this only if at least 50,000 other people do the same. With that number of dedicated people, we will be able to kick start a process of nonviolent change the likes of which we haven't seen in this country in many years. Sign up there and we'll let you know how many others are with you.When other nations' governments go off track, their people do something about it.... more
-
-
Some 25,000 Spanish protesters have defied a government ban and camped out overnight in a square in the capital, Madrid. The protesters are angry with the government’s economic policiesSome 25,000 Spanish protesters have defied a government ban and camped out overnight... more
-
-
You've got to hand it to this group of extortionists. After playing a major role in nearly bringing the US Financial system to its knees not once but TWICE, in 2000 and 2007, they have the audacity to tell the Citizens of the country; "You're too expensive".
http://www.blankwebpage.com/
From MarketWatch,
"Standard & Poor’s cut its ratings outlook on the U.S. to negative from stable on Monday, lighting a fire under Washington’s deficit-reduction debate and sending stock markets sharply lower.
The rating agency effectively gave Washington a two-year deadline to enact meaningful change, just days after House Budget Committee Chairman Paul Ryan and President Barack Obama each outlined their plans for slashing debt."
http://www.marketwatch.com/story/sp-cuts-us-rating-outlook-to-negative-2011-04-18?dist=countdown
And so in one fell swoop Wall Street tells America that they wholeheartedly support the bought-and-paid-for Congress in conjunction with the President of the United States to begin negotiating "slashing debt". Then there are our new international regulators (dictators?), the IMF:
A top IMF official warned on Saturday that the United States must start down a budget deficit-cutting path relatively soon or face crushing debt service costs as interest rates rise.
"Time's a-wasting," John Lipsky, first deputy managing director of the International Monetary Fund, said in an address at the annual American Economics Association conference here. "It is critical to lay out the basis for credible medium-term fiscal adjustment," he said.
http://uk.reuters.com/article/2011/01/08/uk-economy-imf-usa-idUKTRE70717920110108
Time's a-wasting indeed. The IMF suddenly seems quite antsy to get the US fiscal house in order. If you’re wondering why that is, it’s because they now have the authority to tell the representatives that the US Citizens elected, how to do their job. After 12 years in August 2009, the President approved the IMF's Fourth Article to finally take the SDR supranational reserve currency truly global:
"The Fourth Amendment, which was proposed in September 1997, required approval by three fifths of the IMF membership with 85 percent of the total voting power. This threshold has been reached following the recent approval by the United States."
http://www.imf.org/external/np/exr/cs/news/2009/cso79.htm
And so now it's in “everybody's interest” (except yours) to cut programs until we resemble the rest of the developing world......and that's just what they're going to try to do. In addition to cutting everything except the War, Intelligence, and Surveillance departments of our government, did I mention that the people that get most of the benefits (money) now from the Government's largesse, aren't going to be paying for it?
Which brings me to this:
In 12 Years, Income For Richest 400 Americans Quadruples, Tax Rate Nearly Halved
"New data released by the IRS reveals that, over a period of 12 years, tax rates for the richest 400 Americans were effectively cut in half. In 1995, the richest 400 Americans paid, on average, 29.93% of their income in federal taxes. In 2007, the last year for which the IRS has released data, the richest 400 Americans paid just 16.63%."
http://www.truthout.org/12-years-income-richest-400-americans-quadruples-tax-rate-nearly-halved/1303016400
And on that note,
Happy Tax Day Everyone!
-SchnookumsYou've got to hand it to this group of extortionists. After playing a major role... more
-
-
UK economy contracted by 0.6% in last three months of 2010 | The Guardian
Office for National Statistics stuck to its view that the harsh winter weather in December – the coldest December on record – contributed 0.5 percentage points to the decline.UK economy contracted by 0.6% in last three months of 2010 | The Guardian
Office... more
-
-
Worldwide revolt against banker occupation?
-
-
By Gerard Ange'
THE SCAM OF AUSTERITY:
As we look around us today... we see a war zone. A war against the Middle Class ! A covert war that has been going on for years! A war with a battle plan. A plan to finance politicians like (Governor Scott Walker of Wisconsin ) to take over our Government and with an agenda to give the final death blow against Labor and the Middle Class.
WHAT WE SEE IS... A war to steal the money out of the hands and pockets of hard working families'. A war that takes food from children's mouths. A war that sucks the heat from our furnaces on the coldest winter's days.
THIS IS OUR REALITY.... THIS IS WHAT IS GOING... HERE & NOW!
I ASK THEN... Where is all that money going? Money doesn't disappear nor does it dematerialize. it had to go somewhere.
It went into the huge bank vaults of the bankers and, The 2% of the population who intentionally sucked all the money from our country and created all the job loss and the home foreclosures in the first place.
The same bankers and, the 2% of the population who were bailed-out by the US Tax Payers with over $700 Billion dollars.., from hard working people.
These same 2% and same Wall Street Bankers who took our Bail-Out money and didn't re-invest it in the people to create jobs as they had promised. But, they kept the money and continued to foreclose against families and then rewarded themselves with lavish million dollar bonuses as "job well done".
~ Proving again that: "TRICKLE DOWN ECONOMICS" was a Scam.!
These Bankers and, the 2% who now sit comfortably on piles money, now have all the time in the world to wait... Wait and watch as the citizens, families and workers squirm in pain and misery fighting poverty just for the basics in life... as they continue to lose their homes and jobs.
> IT IS TIME WE ALL ~ FOLLOW THE MONEY!
What we are seeing is a process leading this country down the same economic path as Turkey, Mexico, Greece. "A country with NO middle class!" A country with only the VERY RICH and The VERY POOR. What we are witnessing is the Resurgence Economic Principals dating back to the "PRE-INDUSTRIAL ERA"!
~ HENERY FORD CREATED THE MIDDLE CLASS IN AMERICA ~
Henry Ford in 1914 Set an Example for all of us to follow. Breaking with the long on-going "Industrial Era" Mentality ... When He Broke the Greedy On-Going Practice of Rich Industrialists: of paying their workers (a pittance!) ~ as little as possible...
Henry Ford made a bold deliberate move to "think outside the box" ! To pay twice the going labor rate to his workers. With an Idea so that this workers could then afford to buy his automobiles... His workers bought automobiles and more... houses and refrigerators and life got better for everyone... It was then...The Middle Class was born.
**Henry Ford's one bold act changed the world forever... And today has proven one very important economic principal for all us to follow into the future.
BUT TODAY:
We see that there is a plan in the works to turn back the clock! To reverted back again to those old failed economic principals of the Industrial Age ~ Once again paying people as little as possible... (a pittance!) While "The New Industrialists" once again horde huge profits on the backs of poor exploited labor. These are greedy people, this slash and burn industrial age thinking is destructive to the global economy as it is to our families our neighbors and to the fabric of our society.
** The Future is before us: **
But before we can move forward... We must learn from the past.
We must act,,, to plant the seeds of the future and stimulate growth to grow a strong "global economy" an economy that gives "all workers" a fair "World Wage" And basic global worker's rights. Rights, that regulate and protect the global work force. We need to level the playing field world-wide for long-term global growth and stability. To put and end to the Greedy Destructive Short-Term Profits and Exploitation of Labor that is destroying the world around us.
THE LESSON LEARNED:
Henry Ford's proved by example that in order for a populous to contribute to the economy they must be paid a fair living wage. It is in everyones best interest! A fair " Wage" globally expands the market place for all goods stimulates all commerce allows all people to be better their lives and contribute to a healthy economy and future for all of us everywhere.
~In a Democracy it is important that we.. FLOAT ALL BOATS ~
More about Henry Ford & Trickle UP Economics
http://www.newamerica.net/node/8628By Gerard Ange'
THE SCAM OF AUSTERITY:
As we look around us today... we see a... more
-
-
Austerity measures drive 100,000 protesters to the streets of Ireland, another 100,000 in Italy as Europeans continue to rage against the international banking machine.
The international bankster machine seeking to colonize Western nations through debt is now meeting resistance from Greece, to France, to Ireland, to Italy, to Spain, to Portugal, and to the U.K.
These new protests in Ireland and Italy follow a crippling 2-week strike in France where citizens took over fuel refineries and other vital infrastructure, more strikes in Greece which took over the Acropolis, and a massive student protest in the UK that caused physical damage to government buildings. All of these protests were sparked by governments reducing benefits or increasing fees and taxes on a population that had little to do with the private gambling of banks.
These European protests are intensifying as the international bankers move to collect their "pound of flesh" through austerity and sale of public assets. As Europeans are becoming acutely aware of the dubious plan to loot them and the anger at their corrupt elected officials for bowing to banks has reached a boiling point. In all cases the governments are enforcing austerity measures on the people after the private banks over-leveraged themselves to the breaking point, threatening to bring down entire nations.
For years the bankers churned out easy credit to these nations while they invested public and private funds into worthless credit default swaps and derivatives. As if orchestrated to perfection, they pulled the plug on those toxic assets, essentially bankrupting the more fragile developed countries, followed by calling their debts due. Now they're demanding that European governments be forced into IMF bailouts that impose drastic austerity measures on the populace.
By forcing tax increases and reducing benefits for the citizens of sovereign nations, the IMF is essentially rewriting their laws. Well, it appears that the citizens of Europe have had enough. The massive protests, strikes, and riots that have swept through the streets of many European countries have resulted in growing calls to reject the bailout money used to prop up failed banks and corrupt governments. The Irish people prefer to default on the debt which drove the EU 'completely mad'.
The protesters are getting support from someone who is experiencing the outcome of resisting public bailouts of private banking debts. The President of Iceland recently remarked that they're in much better shape than Ireland because they let the private banks fail and their currency naturally devalued, allowing them to regain some competitiveness relative to their neighbors:
“The difference is that in Iceland we allowed the banks to fail,” Grimsson said in an interview with Bloomberg Television’s Mark Barton today. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.”
UK's Libertarian politician, Nigel Farage, once viewed as a fringe player, is now getting international recognition for forewarning his European comrades about the troubles in the system. He's quickly becoming a hero to the banker resistance as his credibility reaches new heights for being proved right -- much like his U.S. counterpart Congressman Ron Paul. His rants in the European Parliament are going viral on YouTube as the people are waking up to their servitude to banks and a lack of true democracy and sovereignty.
Read More: http://globalpoliticalawakening.blogspot.com/2010/11/citizens-of-europe-rage-against-machine.htmlAusterity measures drive 100,000 protesters to the streets of Ireland, another 100,000... more
-
