Destructive Neoliberal Austerity

[Joanne98]

For OpEdNews: Stephen Lendman - Writer

Destructive Neoliberal Austerity - by Stephen Lendman

Instead of vitally needed stimulus, Washington and European governments dictate austerity. The pretext of deficit reduction is being used to transfer more wealth to those already with too much, plus the usual canard over the urgency to save national banking systems.

In other words, make ordinary people bear the burden of bailing out banking giants responsible for the severest economic crisis since the Great Depression. How? The usual IMF solution, involving preservation of capital at the expense of workers - a package including wage and benefit cuts, less social spending, privatization of state resources, mass layoffs, deregulation, lower "onerous" taxes, maintaining corporate debt service, and harsh crackdowns against resisters.

In the 1980s, it was called Reaganomics, trickle down, and Thatcherism. Today it's destructive "shock therapy" called austerity, the same scheme pitting capital against people - disposable workers tossed out for big money's gain.

It's how predatory capitalism works, destructively for so many to enrich an elite few - snake oil peddled as an economic elixir, corrupted politicians and central bankers forcing harmful policies that, in fact, don't work.

http://www.opednews.com/articles/Destructive-Neoliberal-Aus-by-Stephen-Lendman-101122-573.html

[xchrom]

1. Recommend - it's sad to see both labour parties abroad and

The party of unions -- the democratic party here --
Take up where Reagan and thatcher left off.