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Technology & Innovation

Austerity Breeds Disaster

Massive budget slashing can lead to economic disaster, violence and repression. The DC-Wall Street power circuit is blindly pushing an agenda that could lead to massive social upheaval.

The Washington-Wall Street power circuit has already decided for the rest of us that “austerity” will define the 2011 political agenda. Austerity is what the oligarch-sponsored Tea Party demanded, what the Republicans are promising to deliver now that they’re in control of drafting the budget in the House, and what the Obama administration is going to try to enact as part of its neo-Clinton triangulation strategy. What has happened in modern history after the austerity drive is finished? These measures almost always end in the worst worst-case-scenario imaginable: economic disaster, violence and repression.


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