Unrestrained Stimulus and Draconian Austerity: Two Sides of the Same Coin
by George Washington
The Elite Financial Players Are Manipulating the Game So that They Get the Stimulus … and the Little Guy Gets the Austerity
Liberal economists and financial wonks say that we need to learn the lesson from the 1930s and stimulate more to unnecessarily avoid falling back into a very deep economic abyss.
Conservative economists and financial gurus say that we need to tighten our belts and live within our means, or the tsunami of debt will wipe out our prosperity, and that of our children and grandchildren.
We’ve repeatedly noted that neither stimulus or austerity can ever work … unless and until the basic problems with the economy are fixed.
But stimulus and austerity are not only insufficient on their own … they are actually 2 sides of the same coin.
Specifically, the central banks’ central bank warned in 2008 that bailouts of the big banks would create sovereign debt crises. That is exactly what has happened.
Remember, it is not the people or Main Street who are getting bailed out … it is the giant banks.