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Tag: Austerity


Demonstrators at May Day Rallies Worldwide Demand Workers’ Rights

In the U.S., “there’s manufactured ignorance that prevents us from knowing about May Day,” one historian says.

Posted on May 1, 2016 READ MORE


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Louisiana Sheriff Accuses Ex-Gov. Jindal and the GOP of Impoverishing His State

Conservative Louisiana Sheriff Newell Normand last month publicly criticized “that idiot,” former Gov. Bobby Jindal, saying he had led his state off a fiscal cliff, and the law enforcement official went on to admonish his fellow Republicans for following obstructionist leaders and resisting tax increases aimed at covering budget problems the Republican governor left behind.

Posted on Mar 23, 2016 WATCH & LISTEN



Poisoned City: Flint and the Specter of Domestic Terrorism

Flint provides a tragic example of what happens to a society when democracy begins to disappear and is surpassed by a state remade in the image of the corporation.

Posted on Mar 4, 2016 READ MORE


VIDEO: Austerity Man









Award-winning animator Mark Fiore weighs in on the recent lead poisoning disaster in Flint, Mich.
Posted on Jan 21, 2016 ENLARGE



Budget Cuts and Negligence Poisoned the Drinking Water in Flint, Mich.

Calls for the resignation of Gov. Rick Snyder are intensifying in the face of evidence that he allowed the city’s 100,000 residents to continue cooking, drinking and bathing in water known to be contaminated with lead.

Posted on Jan 16, 2016 READ MORE



Will Yanis Varoufakis Find a New Role on the World Stage?

Together with “a variety of good folks across Europe,” the former Greek finance minister is working to build “a pan-European democratic movement, call it a party, call it what you will,” that transcends national political parties.

Posted on Dec 26, 2015 READ MORE



Malnutrition and ‘Victorian’ Diseases Are Soaring in England ‘Due to Food Poverty and Cuts’

Cases of malnutrition have doubled and other “Victorian” diseases are soaring in the U.K., in what campaigners say is a direct result of Tory government austerity measures.

Posted on Oct 28, 2015 READ MORE



Austerity 101: The Three Reasons Republican Deficit Hawks Are Wrong (VIDEO)

Keep these three principles in mind and you won’t be fooled by scare tactics of the deficit hawks. And you’ll understand why we have to raise the debt ceiling, end the sequester, put more people to work, and increase rather than decrease spending on vital public investments like education and infrastructure.

Posted on Oct 16, 2015 READ MORE



An Accounting Trick Is the Basis of Phony Claim That U.S. Faces a Public-Sector Debt Crisis

Senate Budget Committee Chairman Mike Enzi’s claim that “rapidly growing public sector debt threatens America’s economic future” is based on dishonest accounting rigged by congressional austerity hawks, reports The Nation.

Posted on Oct 15, 2015 READ MORE



Sonali Kolhatkar in L.A. Times on Turmoil at KPFK Pacifica Radio: ‘A Micro-Version of Greece’

If management at KPFK Pacifica Radio were to pick a comparison inspired by recent world events to illustrate the current status of their operation, they probably wouldn’t settle on Greece. But that’s just the route that an op-ed article by Sonali Kolhatkar took.

Posted on Sep 24, 2015 READ MORE



Looks Like Greece’s Progressive Syriza Party Has Been Elected … Again

Most of Sunday’s snap general election results are in—and it seems Syriza has claimed another important victory in Greece and Alexis Tspiras will continue to lead the country.

Posted on Sep 20, 2015 READ MORE



Jeremy Corbyn Set to Become Leader of the U.K.’s Labour Party, Against Huge Odds

Long marginalized by his party’s establishment, the unlikely outsider is set to usher in a return to Labour’s more radical values.

Posted on Sep 11, 2015 READ MORE



Investors and Their Bankers Want Everything From Puerto Rico

Billionaire hedge fund managers have demanded that Puerto Rico lay off teachers, close schools, raise taxes, sell billions of dollars worth of public buildings and drastically cut public spending in order to repay loans and avoid financial default.

Posted on Jul 29, 2015 READ MORE


VIDEO: Civil Servants Want Greece to Leave the EU, ‘Which Is Like a Noose Strangling People’

As Greek lawmakers prepare to vote on EU austerity demands attached to a new bailout, civil servants announced a 24-hour strike, and hundreds of protesters gathered in Athens to show their opposition to the terms.

Posted on Jul 15, 2015 WATCH & LISTEN



The IMF Gets Behind Greece With Debt Relief Demand

In a move that looks at once like a boost for Greece’s economic cause and grounds for further complication among eurozone member countries, the International Monetary Fund on Tuesday warned that it might pull its support for the proposed bailout plan unless other nations agree to whittle down some of Greece’s debt.

Posted on Jul 14, 2015 READ MORE



Tsipras Pushes Greeks to Take Bailout Deal

Greece’s Prime Minister Alexis Tsipras on Tuesday continued the diplomatic high-wire act that his country’s economic crisis has obliged him to attempt by working hard to persuade members of the Greek Parliament and the general population to accept the bailout package he was just offered in Brussels.

Posted on Jul 14, 2015 READ MORE



We Are All Greeks Now

What is happening in Greece in the name of austerity has already happened to the poor and the working class in the United States. If the global financial elites continue in power, the misery of the Greeks will become our own.

Posted on Jul 12, 2015 READ MORE


AUDIO: ‘Left, Right & Center’: Greece, Hacks and Trump on Top

Truthdig Editor-in-Chief Robert Scheer and the other “Left, Right & Center” panelists discuss Greece’s pursuit of another bailout from the EU, two major security breaches of U.S. government databases and whether Donald Trump could win America’s Latino vote.

Posted on Jul 11, 2015 WATCH & LISTEN



VIDEO: Tsipras Permitted Untold Damage to Be Done to the Greek Economy for Nothing

“There is no end in sight to the suffering of the Greek people,” writes Guardian editor Larry Elliott following the prime minister’s capitulation to European demands.

Posted on Jul 10, 2015 READ MORE



Why the Greek Victory Inspires Us

While Greece is not the first country to defy the IMF’s prescriptions, it is uniquely poised to underscore, once and for all, capitalism’s incompatibility with democracy.

Posted on Jul 9, 2015 READ MORE


There Will Be Blood









Posted on Jul 8, 2015 ENLARGE



The Greek Crisis Marks ‘the Beginning of the Collapse of Capitalism’

Missing from the mainstream debate over the Greek economic crisis is “the damaging role that the endless quest for economic growth plays,” writes journalist Jennifer Hinton at The Guardian.

Posted on Jul 8, 2015 READ MORE



World Leaders Huddle, Haggle Over Greece’s Future

Aside from monetary considerations, time is clearly the most important commodity in the ongoing crunch sessions between Greek and European leaders as they hash out a potential rescue strategy to keep Greece in the eurozone and out of financial free fall.

Posted on Jul 7, 2015 READ MORE



Is Greece’s ‘No’ on the Debt Referendum Another Youth Revolution?

In the past five years, the old political categories—left, right, center or capitalist and socialist—have been challenged by a new category: youth.

Posted on Jul 6, 2015 READ MORE



Greek Voters Send Decisive Message to European Leaders: No Deal (Updated)

If there was any lingering question about where the majority of Greeks stood on the deal drummed up by European creditors to try to contain Greece’s ongoing financial crisis, Sunday’s referendum on the bailout package soundly dispelled it.

Posted on Jul 5, 2015 READ MORE


VIDEO: Chomsky on Greece: A ‘Savage Response’ for Standing Up to Austerity ‘Class War’

In an interview for “Democracy Now!” Noam Chomsky comments on the challenges faced by Greece’s leading party, Syriza.

Posted on Jul 1, 2015 WATCH & LISTEN



Don’t Cry for Greece—Argentina Sets the Example for Surviving After Default

In Argentina, there’s a name for what Germany and other troika members who’ve attempted to profit from Greece’s austerity-induced suffering have become: “buitres,” the Spanish word for vultures.

Posted on Jul 1, 2015 READ MORE



Economists Krugman and Stiglitz on Why Greeks Should Vote ‘No’ on the Referendum

Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman maintain that Greece must keep going it alone and vote “no” on the upcoming referendum on the bailout.

Posted on Jun 30, 2015 READ MORE



Joseph Stiglitz, Thomas Piketty and Other Renowned Economists Demand an End to Greek Austerity

Twenty-six of the world’s most distinguished economic minds proclaimed their solidarity with Greece’s ruling anti-austerity party in an essay published in the Financial Times in early June.

Posted on Jun 12, 2015 READ MORE



Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success

Iceland’s insistence on following a different drummer after the global economic collapse is evidence that a more ethical approach can work.

Posted on Jun 11, 2015 READ MORE



A Magical Mystery Tour of American Austerity Politics

Numerous cities and school districts in Michigan are now run by single, state-appointed technocrats. This arrangement not only strips residents of their local voting rights but also gives appointees of the state’s austerity-promoting governor the power to do just about anything, including dissolve the cities themselves, all in the name of “fiscal responsibility.”

Posted on Jun 10, 2015 READ MORE



Look What Austerity Does to a Child’s Brain

The stressful conditions of poverty—“overcrowding, noise, substandard housing, separation from parent(s), exposure to violence, family turmoil”—can permanently diminish the ability to think clearly and calmly.

Posted on Jun 7, 2015 READ MORE



Five More Years of Tory Government: What Fresh Hell Is This?

Now free to pursue a radical agenda, David Cameron will lead Britain even further down the murky path of austerity, privatization, increased surveillance and jingoism.

Posted on May 8, 2015 READ MORE


Greek Finance Minister Says Austerity Is Bad Medicine

Greece’s new left-wing, anti-austerity Syriza Party raises concerns over international creditors’ demands to restructure the country’s labor market and curtail its pension system in exchange for a new package of bailout funds scheduled for release Friday. Greek Finance Minister Yanis Varoufakis speaks with “Democracy Now!”

Posted on Apr 22, 2015 WATCH & LISTEN



442 Mental Health Experts Call for an End to Austerity

Austerity cuts and “neoliberal thinking” among policymakers are having a “profoundly disturbing” effect on Britons’ psychological and emotional well-being, say hundreds of counselors, psychotherapists and academics in a letter to The Guardian.

Posted on Apr 19, 2015 READ MORE



Greece Submits Reform Proposals and Warnings to Eurozone Creditors

Their country would stop cooperating with creditors if negotiations failed and aid was not forthcoming, government leaders said as they submitted a long-awaited list of 18 policy reforms to eurozone administrators.

Posted on Mar 28, 2015 READ MORE



House Republicans Approve $5 Trillion in Budget Cuts

House Republicans on Wednesday night passed a budget that eliminates nearly $5 trillion from social welfare programs over the next decade and envisions regressive tax reforms and calls for the repeal of President Obama’s health care law.

Posted on Mar 26, 2015 READ MORE



Brain Drain Is Crippling Eastern Europe

Ivan Krastev, chairman of the Center for Liberal Strategies in Sofia, Bulgaria, notes that economic austerity is driving away his country’s best and brightest.

Posted on Mar 25, 2015 READ MORE



Protesters Assail Austerity Policies at Madrid ‘Dignity March’

Thousands took part in a “march for dignity” and against austerity measures in Madrid on Saturday on the eve of a closely watched regional election in southern Spain.

Posted on Mar 22, 2015 READ MORE


In Germany, Dozens Wounded and Police Cars Set Afire in Anti-Austerity Protests

Thousands participated in anti-austerity “Blockupy” demonstrations that turned violent outside the opening of the new headquarters of the European Central Bank in Frankfurt, Germany.

Posted on Mar 20, 2015 WATCH & LISTEN



Ukrainian President: Enormous IMF Loan Won’t Help Ordinary Ukrainians

Petro Poroshenko admits that a $17.5 billion International Monetary Fund loan and its associated austerity measures won’t improve the lives of ordinary Ukrainians—but will help pay foreign creditors and fund the country’s ongoing civil war.

Posted on Mar 15, 2015 READ MORE



Addressing the Senate, an Anti-Austerity Economist Criticizes U.S. Budget Policy

There is much confusion, politically sown, about what debt is, what it does and what it costs. This includes the false ideas that the government deficit is unsustainable, that “entitlements” are bleeding us and that paying interest on the national debt displaces money that would otherwise be spent on public programs.

Posted on Mar 13, 2015 READ MORE



The Noose Around Greece: How Central Banks Harness Governments

It seems the European Central Bank has made good on a threat by Goldman Sachs to cut off liquidity to Greek banks in the event the nation elected an anti-austerity government.

Posted on Mar 11, 2015 READ MORE



Greece Can’t Do It Alone: Austerity Victims of the World, Unite!

For the anti-austerity struggle in Greece and elsewhere to become effective and sustainable, it must be raised from the national level to the international level.

Posted on Mar 6, 2015 READ MORE


Greek Finance Minister Varoufakis Wants Austerity ... for the Rich

“The finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich,” says economist Michael Hudson (not pictured) of the ongoing confrontation over the Greek debt crisis.

Posted on Feb 25, 2015 WATCH & LISTEN



Europe’s Millennials ‘Suffered Disproportionately’ From the Financial Crisis and Austerity

Europe’s youths have shifted their views and feel increasingly powerless to effect change. In a world filled with so much socio-economic instability, can we blame them?

Posted on Feb 25, 2015 READ MORE



Scourge of the Greeks: German Finance Minister Wolfgang Schauble

After the financial troika triumphed over the Greek government in debt negotiations last week, Germany’s veteran minister “indulged himself with some patronizing comments,” observed economics correspondent Phillip Inman at The Guardian.

Posted on Feb 22, 2015 READ MORE



Can the Greek Tragedy Be Rewritten?

The world is watching to see if the anti-austerity party Syriza can turn things around for Greece. Success may inspire hope in the economically desperate across the globe—and fear among the elites.

Posted on Feb 19, 2015 READ MORE



From ‘Demos’ to ‘Podemos’: Popular Uprisings in Greece and Spain

Like Greece, Spain has been wracked by the global recession and could soon elect an anti-austerity government.

Posted on Feb 18, 2015 READ MORE



Kostas Koutsaftikis / Shutterstock.com

The Pro-Workers, Pro-Growth Experiment in Greece Is Under Threat

While the wealthiest 85 individuals on the planet own more wealth than the bottom half of the world’s population—and when the top 1 percent will soon own more wealth than the bottom 99 percent—the people of Greece and the anti-austerity party, Syriza, they elected to lead them are struggling to rebuild their economy so that ordinary people there can live with a shred of dignity and security.

Posted on Feb 18, 2015 READ MORE


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