The U.K. is officially in a second recession as the British economy shrank for the second straight quarter

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Conservative Prime Minister David Cameron whose government has been pushing trickle-down austerity for nearly the last two years called the new economic numbers, “very, very disappointing.” The U.K. joins the long list of other European nations that have pursued trickle-down austerity and watched their economies tank – like Greece, Italy, and Spain.

Meanwhile in France – Conservative President Nicholas Sarkozy is desperately trying to cling to his job against Socialist Francois Hollande who’s running on an anti-austerity platform. And in the Netherlands, the Dutch Government is in limbo after it caved to pressure and failed to pass its own austerity budget.

Over the last year – we’ve seen the devastating consequences of trickle-down austerity – the job layoffs, the riots, and the suicides. And now – the politicians, banksters, and technocrats pushing trickle-down austerity in Europe are feeling the political backlash from their desperate populations. Meanwhile – multi-millionaire Congressman Paul Ryan and the Republican Party here in the United States are pushing the same sort of trickle-down austerity – ignoring the economic consequences on full display across the Atlantic.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 10:59 am


People tend to forget that there are winners and losers in austerity programs. As long as the winners...., banksters and global corporations control governments, guess who will be on the winning side of legislation. The disappearing British middle class is just collateral damage.

When I told a neighbor some months ago that i was going down to join the Occupy Denver folks, he disappeared into his bedroom and came back brandishing a gun. He said he had his own way of dealing with bankers and billionaires when the time came.

In my rather poor neighborhood, that isn't an unusual response. First there was hope things would get better. Then depression that it didn't. Now it's just rising anger. It's kind of scary when you see it day in and day out. I'd really hate to see the results of austerity programs being implimented in the U.S. Too many guns.

Retired Monk - "Ideology is a disease"


Jul. 31, 2007 4:01 pm

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