Y'all better start paying attention to this shit - if you have even the slightest interest in the future of your own and your family's economic well being that is.
The eurozone countries — above all, Germany — must face up to the economic and political logic of the single currency they have signed up to: that they stand or fall together and must do whatever it takes to support any and all of its members in difficulty. That means a recapitalisation of troubled banks and the European Central Bank able to act — like the Bank of England can in Britain — as a lender of last resort to support banks and countries in the euro area.
As long as that doubt remains, market confidence will not be restored and this crisis will not be resolved. That deep uncertainty is why last weekend’s bail-out of Spanish banks has not restored market confidence. And it is why, without a proper firewall to stop contagion spreading to other troubled economies such as Spain and Italy, a disorderly Greek exit would be catastrophic not only for Greece but for the rest of Europe and the world economy.
There is no easy option for Greece, given its problems. Difficult reforms are vital. But how can an austerity plan — which has seen recession turn into depression, youth unemployment soar to more than 50 per cent, the economy shrink by six per cent in the last year alone and the national debt grow further — be seen as a success? As even the credit rating agencies now recognise, as Standard and Poor’s puts it, that “austerity alone risks becoming self-defeating”.
I will give you the layman's translation of those three paragraphs above: "Austerity," forcefully strapped to the already lash-scarred backs of the middle class and working poor, in conjunction with idiot governments delivering truckloads of cash to the Banksters and their criminal friends on Wall St. and the European financial institutions, has, simply put, been one giant cluster fucking
FAILURE. The only people disagreeing with that assessment are the Banksters and financial institution parasites themselves since they're the ones laughing all the way to their own banks.
And now the austerity con men are trying to bring European style austerity to the U.S. And guess who's just chomping at the bit to shove it down American's throats whether they want it or not? Oh yeah - our good and patriotic friends in the Republican party - along with gleeful help from their little goose-stepping army of Teabagging dickheads whose collective knowledge of economics and history would get them knocked out in the first round of the TV game show - 'Are You Smarter Than a 5th Grader?'
You know -- in a macabre, mischievous and resigned sort of way, I hope Romney wins in November and I hope the Teabaggers gain control of the Senate and Congress. I'm thinking along the lines of what George Carlin said years ago --- that in order for Americans to get a true understanding of just who it is that owns this country and who it is that also owns them, they are going to need to, unfortunately, suffer terribly - something along the lines of The Great Depression of the 1930's. Americans are going to need the biggest, widest, hardest red, white and blue dick shoved so far up their asses that it punches a hole right through their belly buttons. And believe me, it does not take a rocket scientist to come to the realization that the people most capable of pulling off such an incredibly vicious ass fucking are the Republican party, the Teabaggers, the Koch Brothers and the Wall St. criminals all working in unison.
Therefore -- sad as it might be - perhaps it is that kind of sphincter damaging pain which will wake Americans up to the reality of how badly their voting decisions are screwing their own selves over.
Perhaps...
http://www.standard.co.uk/comment/comment/ed-balls-austerity-has-failed-in-europe--we-must-all-now-go-for-growth-7858045.html
----TFG
