“The world faces years of ineffective rebellion and enduring recession
“If a neologism could capture the national and global politics of our time, in the way that “stagflation” captured the combination of stagnation and inflation in the economy of the 1970s, I would propose “turboparalysis” for the combination of vigorous and dramatic motion with the absence of steady movement in any particular direction. At the level of the nation-state and the world as a whole, wheels are spinning furiously and engines are being gunned, to no effect.
“Optimists are an endangered species, now that it appears that we are at best in the end of the beginning of a prolonged crisis of the world economy, not the beginning of the end. Hopes that the global financial crash of 2008 would be followed by a deep recession and then a sharp recovery have faded. Coordinated stimulus programs by major countries in the early stages of the crisis probably helped to limit the damage, but they did not produce a recovery. The alternatives — beggar-thy-neighbor trade policies and budgetary austerity — can only make things worse in the short run.”
In an economic system where money is printed out of nothing, austerity is a hoax and a trojan horse. It’s part of the money changers’ business model: strangle the economy until people are desperate to sell everything for bread. We have jobs to do and people who want jobs. The only barrier is the lack of money in the system.
He says austerity will hurt in the short run. But as long as the inbred money changers control the central banks, the economic depression will last until they’re ready for a new cycle. By that time their hold on power will be unassailable.
See Webster Tarpley’s commonsensical program for avoiding total collapse:
Also see http://www.monetary.org
Make no mistake, if they impose austerity and another depression on us, it will be a matter of malevolent policy which could be reversed at any time.