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Showing posts with the label austerity

UK: Parsing Trussonomics and Class War

“ It seems that today’s Tories – even (or perhaps especially) their most committed ideologues – are once again prepared to ‘pay up’ if it allows them to win a class fight. And let’s not delude ourselves: Chancellor Kwasi Kwarteng’s mini-Budget … shows that a class fight is underway.” Sound money? “Class war is traditionally a term levelled at the left – typically when arguing for radical things such as housing or food – but it is clearer than ever that it is the Tories who wage it.” The class war is upon us

Spain

"Spain has a magnificent primary care system, but its hospitals have been hit by a decade of austerity since the financial crisis. It has  only a third of the hospital beds per capita  that are provided by Austria or Germany. Yet that is still more than the UK, New Zealand or the US." How did Spain get its response so wrong?

UK

Britain as Conservative and imperialist country, and a pioneer of an aggressive form of capitalism. Even Le Monde Diplomatique doesn't include Britain's foreign policy of the contending parties! UK's austerity elections

IMF

In 1998 the Wall Street Journal ran an editorial that said that the IMF ‘has not been fighting financial fires but dousing them with gasoline’. The IMF pours the first tranche of gasoline. Vijay Prashad has an update The IMF does not fight financial fires but douses them with gasoline

Portugal

"The global press have been equally delighted, but with some of the warmest praise gushing from those bastions of “enlightened capitalism”  The Economist  and  The Financial Times , radical progressives may wish to zoom in yet closer on what has been happening on the ground in Portugal." Not different from other European "socialist" parties. When the bastions of "enlightened capitalism" praise such parties, it doesn't mean they are wrong; it means there is something really wrong with those parties which are trying to satisfy both the EU capital and their rank and file whereas in fact neglecting the latter. Europe's magician of the left?
Britain The Labour council, faced with opposition, is cleaving to its “blame Tory cuts” line, sending out self-congratulatory emails about its successful budgets that don’t even mention these closures, and only talk about the services they’ve managed to protect. In a dynamic that has been replicated all over the country, the Labour council has become the hand-wringing instrument of Conservative austerity. "Left-wing" councils enact Tory cuts
"Bolsonaro won mainly because of the disillusionment of the working class with the Workers Party.  After the collapse of commodity prices in resources and agriculture, the economy went into recession. The blame for this and corruption has been laid at the door of the Workers Party." Brazil's Tropical Trump
Portugal "Voters ushered Mr. Costa, a center-left leader,  into power  in late 2015 after he promised to reverse cuts to their income, which the previous government had approved to reduce Portugal’s high deficit under the terms of an international bailout of 78 billion euros, or $90 billion. Mr. Costa formed an unusual alliance with Communist and radical-left parties, which had been shut out of power since the end of Portugal’s dictatorship in 1974. They united with the goal of beating back austerity, while balancing the books to meet eurozone rules. The government raised public sector salaries, the minimum wage and pensions and even restored the amount of vacation days to prebailout levels over objections from creditors like Germany and the International Monetary Fund. Incentives to stimulate business included development subsidies, tax credits and funding for small and midsize companies." Portugal dared to cast aside austerity  ...
England " The analysis of Department for Education figures by researchers at Huddersfield and Sheffield universities shows that since 2010, council areas with the highest levels of deprivation and need have faced the biggest cuts." Another proof that "there is a class war, and they are winning it." (The quote is originally Warrent Buffet's) Poorest areas face biggest cuts in children's services
“all the successive governments of Tunisia after 14 January have devoted themselves to the same economic and social choices of the Ben Ali regime, the rich are getting richer, the poor are getting poorer. (…) We are fed up with false promises and can no longer wait. We can no longer live without social welfare, without free access to healthcare, free education and social housing. We can no longer live without hope for change.” Tunisians oppose the IMF  The IMF in a few words