From the Huffpo: "U.N. Study: Austerity Measures Pushing World Economy Toward Disaster"

"The pursuit of austerity measures and deficit cuts is pushing the world economy toward disaster in a misguided attempt to please global financial markets, the annual report of the United Nations economic thinktank UNCTAD said on Tuesday.
The report, entitled 'Post-crisis policy challenges in the world economy,' savaged U.S. and European economic policies and called for wage increases, stricter regulation of financial markets, including a return to a system of managed exchange rates, and a conscious break with market-led thinking."

When the "structural adjustment programs" were screwing third world countries in the eighties, this kind of thinking was applauded. Now that its consequences are affecting bwana, everybody cries foul.

Unfortunately the global economy is too interconnected for something like this to happen and not affect everyone; if it weren't for that, my only remark would be: screw you.


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