Capitalisms way of dealing with its recurring crises is thus a remarkable two-step hustle. In step one, massive borrowing funds stimulus and bailout programs. In step two, austerity pays for the borrowing. This hustle shifts most of the costs of capitalist crises onto the backs of middle- and lower-income people. The shift occurs through the higher unemployment, lower wages, and reduced government services achieved by austerity programs. It occurs as well in the sustained minimization of tax increases – especially on corporations and the rich. -- CommonDreams.org
Posted on: Sat, 09 Nov 2013 21:47:13 +0000
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