Austerity usually leads to social instability

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Some had hoped that recent elections in Greece and the formation of a new government may bring some stability to the financial crisis gripping the nation. But nearly two weeks after the vote, that’s clearly not happening, as austerity pushed Greece deeper and deeper into desperation. This week, a group of armed gunman broke into the Microsoft’s Greek headquarters and set the building on fire. Also, the Greek Supreme Court had to be evacuated twice after bomb threats, and this year suicide rates in Greece have doubled.

As the Center for Economic Policy Research warned in a recent report, “"From the end of the Weimar Republic in Germany in the 1930s to anti-government demonstrations in Greece in 2010-11, austerity has tended to go hand-in-hand with politically motivated violence and social instability." Clearly – this storm is far from over.

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

Comments

The only way to solve this problem is to move all the world's poor people to Antarctica. This is where the U.S. and Venezuela can cooperate. Everybody who goes will be guaranteed 1) an igloo making kit 2) a lifetime supply of sunscreen and 3) a share in a not-for-profit internationally-chartered sardine fishing operation. or a job converting ice into freshwater for export.

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nimblecivet
Joined:
Jul. 31, 2007 4:01 pm

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