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Heart of Darkness

Heart of Darkness

By Joseph Conrad

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Tag: Austerity


Teknecolor (CC BY-NC-ND 2.0)

Greece’s Birthrate Decreases as Austerity Measures Increase

The number of live births has fallen by a whopping 10 percent in Greece in the last four years as the country suffers the worst economic conditions in the entire European Union, and continues to exercise austerity in order to receive loans from the likes of the European Bank and the IMF.

Posted on Sep 18, 2013 READ MORE



Duda Arraes (CC BY-ND 2.0)

Cries for Economic Independence on Brazil’s Independence Day

People protesting corruption, poor public services and a corresponding heavy tax burden disrupted a Rio de Janeiro military parade Saturday celebrating Brazil’s independence day. Five people were injured and 10 were arrested in the clash.

Posted on Sep 7, 2013 READ MORE



OhioProgressive (CC BY 2.0)

Are You Aware of These Secret Taxes on the Poor?

Local and state governments having a hard time making ends meet are “quietly taxing a group even more cash-strapped than they are: the poor,” writes Leah A. Plunkett at Salon.

Posted on Sep 6, 2013 READ MORE



Pensiero (CC BY-NC-ND 2.0)

Austerity Making It Harder to Cheat on Your Wife

Summer used to be the season of infidelity in Italy. Now, with the European Union enforcing strict measures as a result of the economic crisis, affairs are no longer so simple to maintain.

Posted on Aug 27, 2013 READ MORE



Joe Crimmings Photography (CC BY-ND 2.0)

Obama’s Master Class in Demagogy 101

The aim of the president’s Knox College speech on Wednesday was to wrap the economic program he has been working out with Wall Street investment bankers in democratic rhetoric. It was an exercise in political stealth.

Posted on Jul 27, 2013 READ MORE



AP/Kostas Tsironis

Ignoring the Social Costs of Austerity Is Dangerous for Greek Leaders

The financial governing authorities classed as the “troika” are obsessed with budget targets rather than human needs, and needs are what protests underway in Greece on Tuesday are all about, writes Helena Smith, Greek correspondent for The Guardian.

Posted on Jul 16, 2013 READ MORE



RL Hyde (CC BY-SA 2.0)

Not ‘A Shred of Evidence’ to Support Reinhart and Rogoff

The Harvard professors who led much of the Western world into austerity with their 2010 paper “Growth in a Time of Debt,” debunked in April by a University of Massachusetts grad student, have taken another hit, this time from two economists with the University of Michigan.

Posted on May 31, 2013 READ MORE



sdpurtill (CC BY 2.0)

Marching in Chicago: Resisting Rahm Emanuel’s Neoliberal Savagery

Chicago Mayor Rahm Emanuel’s current attempt to close down 54 public schools largely inhabited by poor minorities is one more example of a savage, racist neoliberal system that uses the politics of austerity and consolidation to further disenfranchise unskilled youths in the inner city.

Posted on May 24, 2013 READ MORE



archer10 (Dennis) (CC BY-SA 2.0)

Hell on Earth for Greeks

Greek victims of austerity are increasingly being forced to sell their bodies for cheap in horrific squalor and to escape painful reality with a new street drug.

Posted on May 22, 2013 READ MORE



dev null (CC BY-SA 2.0)

How America Became a Third World Country: 2013-2023

The streets are much darker now, since money for streetlights is rarely available to municipal governments. The national parks began closing down years ago. Reports on bridges crumbling or even collapsing are commonplace. It’s 2023—and this is America 10 years after the first across-the-board federal budget cuts known as sequestration went into effect.

Posted on May 22, 2013 READ MORE


Economic Murder: How and Why Austerity Kills

Austerity has caused more than 10,000 suicides (including the married couple pictured above) and as many as 1 million additional cases of depression across Europe and the United States, economist David Stuckler and physician Sanjay Basu estimate. Those findings are discussed in their new book, “The Body Economic: Why Austerity Kills.”

Posted on May 21, 2013 READ MORE



Flickr/401(K) 2013

The Real Cost of Austerity

A new study paints a sobering picture of the negative consequences austerity is having on the U.S. economy (and shows once more that New York Times columnist Paul Krugman, a consistent voice against austerity, is right).

Posted on May 7, 2013 READ MORE



Screenshot

Krugman Exposes the Hypocrisy of Fiscal Conservatives

In his latest column for The New York Times, the Nobel Prize-winning economists notes that before President Obama took office in 2009, seven of the 10 previous presidents left the Oval Office with debt ratios lower than when they entered it. The three who did not: Ronald Reagan, George H.W. Bush and George W. Bush.

Posted on May 6, 2013 READ MORE



Nanagyei (CC BY 2.0)

The Hungry British Public

Neoliberalism and its brand of response to economic crisis, austerity—both legacies of the recently deceased former Prime Minister Margaret Thatcher—are creating a U.K. where one in five mothers regularly goes without food in order to feed her children.

Posted on May 6, 2013 READ MORE


Dam Austerity

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Posted on May 1, 2013 READ MORE



Capitol Hill image via Shutterstock

Earth to Washington: Repeal the Sequester

What is Washington doing to fix the economy? Worse than nothing. It has now adopted the same kind of austerity economics that’s doomed Europe—cutting federal spending and reducing total demand. And the sequester doesn’t end Sept. 30. It takes an even bigger bite out of the federal budget next fiscal year.

Posted on Apr 29, 2013 READ MORE


The Economic Whodunit

The policy mystery of our time is why politicians in the United States and across much of the democratic world are so obsessed with deficits when their primary mission ought to be bringing down high and debilitating rates of unemployment.

Posted on Apr 28, 2013 READ MORE



A Policy in Search of a Proponent

Now that the foundations of austerity are crumbling because of an Excel coding error, few may be willing to champion the economic theory; sci-fi may become part of the mandatory reading list for West Virginia students; meanwhile, flamenco has become more than a dance—it’s a new way to protest the banks. These discoveries and more after the jump.

Posted on Apr 24, 2013 READ MORE



west.m (CC BY 2.0)

Will the Harvard Austerity Error End Economic Sadomasochism?

“It seems unlikely,” anthropologist and author David Graeber writes. “After all, as I and many others have long argued, austerity was never really an economic policy: ultimately, it was always about morality.”

Posted on Apr 22, 2013 READ MORE


Massachusetts Economists Discredit Influential Austerity Study

Economists from the University of Massachusetts appear to have debunked a Harvard paper that right-wing politicians have used to push economic austerity policies. The challengers explain where the Harvard economists went wrong in an interview with The Real News Network.

Posted on Apr 19, 2013 READ MORE



Shutterstock photo of the euro.

A Right and Proper Death of the Euro

A new “Alternative for Germany” political movement has erupted as a backlash against the euro, and against Germany’s fellow members of the EU.

Posted on Apr 17, 2013 READ MORE



Image via Shutterstock

Why This Is the Worst Recovery on Record

The biggest economic debate is between Keynesians (who want more government spending and lower interest rates in order to fuel demand) and supply-side “austerics” (who want lower taxes on the wealthy and on corporations to boost incentives to hire and invest, and who see government deficits crowding out private investment). Both approaches have problems.

Posted on Apr 16, 2013 READ MORE



David Blackwell. (CC BY 2.0)

Austerity Inflicts Brain Drain on Greece

More than 100,000 unemployed professionals have left Greece amid a shrinking economy and a lack of jobs to seek better opportunities abroad in a trend that will dramatically impact the country for generations.

Posted on Apr 11, 2013 READ MORE



Flickr/401(K) 2013

The Stealth Sequester

So far, the much-dreaded “sequester”—some $85 billion in federal spending cuts between March and Sept. 30—hasn’t been evident to most Americans. Take a closer look, though, and many people are starting to feel the pain. They just don’t know it yet.

Posted on Apr 10, 2013 READ MORE



SparkNotes No More—Your Teacher Will Know

With e-books, educators can see whether you’ve skipped pages or even bothered to open your textbook; a Spanish study claims there will be fewer people living on earth in the next century than now; meanwhile, although Portugal’s government has failed to impose austerity, it’s now come up with equivalent replacement measures. These discoveries and more after the jump.

Posted on Apr 10, 2013 READ MORE



ssoosay (CC BY 2.0)

Where the Opposition Is Going

As austerity pushed by Britain’s Tory government whittles away jobs and benefits and increases poverty and despair, many Brits are asking where the resistance is. Journalist Laurie Penny knows: “There was resistance, and it was brutally and systematically put down.”

Posted on Apr 4, 2013 READ MORE



L'Orso Sul Monociclo (CC BY 2.0)

The Confirmed Insanity of Austerity

Austerity threw the 17 countries that use the euro back into recession in the third quarter of 2012. As a result, unemployment is expected to rise 12.2 percent, leaving half of young people in Spain and Greece without jobs, and public debts—the expressed target of the reductions—are growing as well.

Posted on Mar 19, 2013 READ MORE



Flickr/Tony Alter

Ryan’s Regressiveness Redux

Republicans lost the election but they still shape what’s debated in Washington—the federal budget deficit and so-called fiscal responsibility.

Posted on Mar 11, 2013 READ MORE


Obama and GOP Snow Angels

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Posted on Mar 10, 2013 READ MORE


GOP Austerity Swamp

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Posted on Mar 10, 2013 READ MORE



sillygwailo (CC BY 2.0)

Starbucks CEO Compels Workers to Do Political Bidding

The coffee company’s chief executive, Howard Schultz, conscripted “countless low wage workers into the austerity army” in asking his Washington, D.C.-area employees to promote the billionaire-backed Fix the Debt campaign by scrawling the words “Come Together” on customers’ cups.

Posted on Mar 5, 2013 READ MORE



Flickr/401(K) 2013

Austerity and the Threat to Democracy Around the World

The “sequester” is actually, of course, the American form of austerity, or cutbacks in government spending during a recession. Austerity, or stingy government in Europe has kept employment extremely depressed compared to what it would have been with government stimulus, as Paul Krugman argues.

Posted on Mar 4, 2013 READ MORE



AP/stf

Sequestration Nation, and Remembering Robert Kennedy

With the sequester now beginning, I find myself thinking about Robert F. Kennedy—and 46 years ago when I was an intern in his Senate office. 1967 was a difficult time for the nation. America was deeply split over civil rights and the Vietnam War. Many of our cities were burning. The war was escalating.

Posted on Mar 4, 2013 READ MORE



Two Rats, One Mind

Scientists connected the brains of a pair of rodents—one in Brazil, the other in North Carolina—via computers; an Italian jeans maker has trademarked the word “Jesus” thus holding exclusive rights to clothes bearing Christ’s name; meanwhile, a police officer is on trial in New York on suspicion of planning to rape, torture and cannibalize women. These discoveries and more after the jump.

Posted on Mar 1, 2013 READ MORE


Europe After 3 Years of Austerity

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Posted on Mar 1, 2013 READ MORE


While Republicans Warn Against ‘Greece,’ That Is Exactly Where Austerity Budgeting Will Lead U.S.

Indebted America is in danger of turning into destitute Greece, or so congressional Republicans and conservative commentators have been warning us for years now. For many reasons, this is an absurd comparison—but it may not always be quite so ridiculous if Washington’s advocates of austerity get their way.

Posted on Feb 28, 2013 READ MORE



Rand Paul Gives Money to Treasury, McCain Gets Heckled at Town Hall, and More

A look at the day’s political happenings, including a prominent Republican’s endorsement of same-sex marriage and the fight over the looming sequester heats up on Twitter.

Posted on Feb 22, 2013 READ MORE



Eric Vernier (CC BY-SA 2.0)

Greek Unions Hold Strike Against Austerity Policies

Greeks are resisting a combination of government spending cuts and tax hikes—which some believe will result in an unemployment rate of 30 percent—imposed by international bailout creditors.

Posted on Feb 20, 2013 READ MORE


What’s Working in Ecuador

Ecuadorean President Rafael Correa responded to recession in his country with increased spending on education, health care and infrastructure, and the economy is rebounding fantastically.

Posted on Feb 19, 2013 READ MORE



Budget Report Proves Krugman Right, Coulter Says ‘Screw You’ to Obama, and More

A look at the day’s political happenings, including a Republican flip-flop on immigration reform and Chris Christie pokes fun at himself on “The Late Show with David Letterman.”

Posted on Feb 5, 2013 READ MORE



Gruenemann (CC BY 2.0)

The Politics of Debt in America

In 2013, you can’t actually be jailed for not paying your bills, but ingenious corporations, collection agencies, cops, courts and lawyers have devised ways to ensure that debt “delinquents” will end up in jail anyway. With one-third of the states now allowing the jailing of debtors (without necessarily calling it that), it looks ever more like a trend in the making.

Posted on Jan 30, 2013 READ MORE



Randy Son of Robert (CC BY 2.0)

The Anti-Economist: Misleading American History

By ignoring the historic role government played in enabling economic growth, the prevailing myths about how the U.S. became prosperous allow lawmakers, officials and lobbyists to craft policies that prevent the majority of Americans from taking their rightful share of the national wealth, Jeff Madrick writes in Harper’s Magazine.

Posted on Jan 29, 2013 READ MORE


Krugman on Austerity: ‘How Many Times Do People Like Me Have to Be Right?’

The New York Times columnist has consistently been a strong voice in the argument against making dramatic spending cuts in tough economic times. On Monday, Krugman was once again forced to defend his position during a discussion about the current financial crisis on MSNBC’s “Morning Joe.”

Posted on Jan 28, 2013 READ MORE


GOP Catfishing the Public

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Posted on Jan 28, 2013 READ MORE



pixelasso (CC BY-SA 2.0)

The New Extremism

The debate in both Washington and the mainstream media over austerity measures, the alleged fiscal cliff and the looming debt crisis not only function to render anti-democratic pressures invisible, but also produce what the late sociologist C. Wright Mills once called “a politics of organized irresponsibility.”

Posted on Jan 25, 2013 READ MORE



DonkeyHotey (CC BY 2.0)

The Trillion Dollar Coin: Joke or Game-Changer?

The trillion dollar coin represents one of the most important principles of popular prosperity ever conceived: the creation of money by sovereign governments, debt-free.

Posted on Jan 18, 2013 READ MORE


Economist Galbraith on Why Public Welfare Programs Are Sustainable

Is there ever a good time to cut “entitlements”—the code word used by austerity hawks to refer to and demean publicly funded social welfare programs—host Andrew Ross Sorkin asked University of Texas economist James K. Galbraith on CNBC’s “Squawk Box” on Friday.

Posted on Jan 18, 2013 READ MORE



AP/Rich Pedroncelli

A Temperature Check From Sen. Sanders

“Despite such terminology as ‘fiscal cliff’ and ‘debt ceiling,’ ” writes Sen. Bernie Sanders, I-Vt., “the great debate taking place in Washington now has relatively little to do with financial issues. It is all about ideology.”

Posted on Jan 9, 2013 READ MORE



The National Guard (CC BY 2.0)

Political Football Over Disaster Relief: Another Argument for Public Banking

As the legislature’s latest scrapping over a $60 billion Hurricane Sandy relief bill shows, disaster victims are now being expected to shoulder relief expenses that used to be shared publicly.

Posted on Jan 4, 2013 READ MORE


Life of Greece

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Posted on Dec 26, 2012 READ MORE


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