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Well if at first austerity makes most people miserable, blame the same people and give money to the banks…blather…rinse…repeat. Ta-dah!
A bailout of up to €100bn for Spain‘s ailing banks failed to calm nerves about the future of the euro on Monday amid confusion over the plan’s details…But Spain’s borrowing costs rose on Monday, nudging closer to levels that are considered unsustainable and dragging Italy towards the danger zone. Europe‘s stock markets fell slightly, despite an early bounce, the FTSE 100 in London finishing down 0.05%.
Clearly the problem is not enough suffering and not enough given to the banks.
But don’t worry it won’t happen too many more times:
…one of 2012 GOP presidential nominee Mitt Romney’s economic advisers appeared in a German newspaper. In the piece, Glenn Hubbard criticized the Obama administration’s approach to Europe’s ongoing economic woes, instead calling for the adoption of more austerity
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Restore Our Failure will put out the fire with gasoline.
Austerity is not a mistake! It is a deliberate strategy to increase the power of the 0.01% and, within Europe, to strengthen the dominance of the German government.
Agreed. However crushing for ordinary people, the austerity regimes don’t disturb the comfort of the elites who impose them.
perris agrees with caleb
assumes facts not in evidence, they ARE succeeding, simply put, their goal is not their stated goal
And what could possibly go wrong…?
ouch
Good morning ,
Insatiable greed ,How much is enough? Enough is never enough !
When do we quit trying to satisfy these most greedy among us?
Good morning, pups. We’ve got Brooks, Nocera and Bruni this morning. Now Bobo has turned into an art critic. In “The Follower Problem” he gurgles that some of our more recent national memorials expose a modern inability to describe and proclaim an authority that is just. Mr. Nocera has a question in “How Not to Solve a Problem:” Wasn’t Europe paying attention when Lehman Brothers imploded? The response to the euro-zone crisis makes you wonder. Mr. Bruni, in “An Election Half Empty,” says the 2012 presidential race isn’t about how to soar but how not to slide.
Here they are.
The coffee and tea are ready, and I’ve got warm apple cranberry muffins. We had drenching rain last night, and more is forecast for this afternoon. This is the wettest spring that I can remember in the 23 years that I’ve been down here. But I’m sure it has nothing at all to do with climate change… Have a great day.
What? Over? Did you say, “over”? Nothing is over until Restore Our Failure decides it is. Was it over when the Germans bombed Pearl Harbor?
In case you didn’t hear this all over the news on the teebee (snort), here’s an article from the NYT telling us that family net worth has dropped to the level of the early 90s.
When it gets to the level of the early 1890s, maybe the 1% will be happy….
When someone tells you that we had to, and have to, bail out the banks, tell them no, we didn’t have to, and no, we don’t have to.
Bailing out the banks prevents a true recovery from happening. Bank bailouts only ensure that the 99% will pay for the bust — by giving up their jobs and homes.
It’s quite obvious now that the insolvent TBTF banks should have taken at least a 40% haircut — which would have driven them out of business for good.
That will mean you still have something. Why would they be happy with that inequity?
No, they won’t be happy even then.
Or, more accurately, they don’t know when to stop… or even how to stop.
Reprehensible Bill Daley on Morning Joke trashing bloggers.
“Quiet under the bus!”
Chicken shit Jeb Bush only now decrying the dysfunctional nature of the R party.
Somebody shut Jeb up. The only reason we still democrats (or democrat-like critters) in congress is because they have worse leadership and more backbiting than we do.
Boxturtle (can you imagine Pelosi facing someone competant, given the job she’s doing with Boehner?)
They used to call it “shared sacrifice” but people saw the lie of “shared” so they changed it to “austerity” (as in Obama’s book “Austerity of Hope”). I believe they should be done with all that propoganda speak and just call it “Starvation for you, Riches for me…hahahhaahaa All the way to the Bank”
Collusion, perhaps? At this point, I wouldn’t put anything past Nancy–or most putative Dems.
Well the great Spanish Experiment is over! 35 years after Franco and then the King, of course, these people need some retraining in Fascism and its’ controlling mechanisms. This will teach these ingrates. Time to dug up Franco’s remains and put them on display for all to understand what’s coming to their neighborhood cafe. Something to chat about before curfew, I suppose. Short live the revolution, eh? Is moving to Latin America an option?
Not forever. Desperation tends to make desperate people become…well, desperate. Like it has never been known before.
As a whole, the people in this country are clueless. I’d bet a large amount the majority don’t know or care that they are being butt-fucked on a regular basis. They are too fat, lazy, and stupid to do anything about it no matter how bad it gets. As long as they have their iPods, Smart Phones, reality TV, TGI Fridays, a GPS and enough cup-holders in their car, they’ll go blissfully unaware to the ovens.