Has the Austerity Cat met his Match?
Greek Kitteh stands up to the Austerity Cat
LoL by: two_kittehs
Austerity Cat is looking out for you
LoL by: two_kittehs (Picture by: Deebrio)
Austerity policies during a recession make matters worse, not better. A lesson that the world learnt in the aftermath of the Great Depression but seems to have forgotten in this century. What ails the global economy is the lack of demand, which the austerity policies have only exacerbated, take it away,Prof. Stiglitz.
With the recent elections in Greece, finally, someone with real political power is standing up to the conventional wisdom that austerity is good for the economy. You can keep track of their progress, on the Greek finance minister’s blog. I wish the new the Greek government all the luck, they are going to need it while navigating the shoals of the economy, including the debt and massive unemployment.