Wherever and whenever there is economic distress, you can expect fascism to rear its ugly head. The Great Depression led to the rise of fascism is Spain, Italy and Germany and led ultimately to WW2. The prolonged economic distress of the Great Recession has led to the rebirth of fascism in Greece. By prolonging the Great Recession to defeat President Obama and regain power, the GOP are contributing to the rise of fascism in Greece. The GOP state that we are in danger of following Greece into economic disaster, and they are doing everything in their power to make it happen.
Falling gas prices are a temporary blessing. The real story in falling gas prices is that they indicate a weakening global economy. The citizens of Greece, Spain and elsewhere are tightening their belts and buying less gas and the products that require petroleum to manufacture and transport. Falling gas prices are not good news. Pass the word.
- U.S. Gas Prices Continue To Fall (news.slashdot.org)
- Gas prices fall under $4 (sacbee.com)
- Drivers happy with falling gas prices (clickorlando.com)
- High gas prices may be explained by self-organized cartel behavior (phys.org)
Greece will be voting again on Sunday June 17, 2012. Depending upon the outcome, it is possible that Greece will abandon the Euro and enforced austerity. It may be bad for the rest of Europe and the US, but it may be good for the people of Greece. Iceland let its banks go bust and now Iceland is recovering nicely. Greece got into trouble by borrowing more than it could repay from big, Wall Street banks. Greeks also have a history of tax avoidance which is not unique to Greece, but probably more endemic there. I will await Sunday’s results with bated breath. I wish the Greek people well.
- Iceland’s Lesson for the World: Control Your Own Currency and Help Your People (news.firedoglake.com)
- Greece and the Banksters (economicpolicyjournal.com)
- Greece elections pose a crucial dilemma _ Q&A (kansascity.com)
- Fisher: Europe totters on the edge as Greece drama approaches its climax (canada.com)
In french, vive l’austérité . The French and the Greeks rejected continued austerity in sunday’s elections. Francois Hollande will replace Nicolas Sarkozy as President of France. We don’t know yet who will govern in Greece. Even in Germany, the hotbed of austerity in Europe, austerity was defeated in a local election.
Here in the US, the supporters of austerity are Mitt Romney and Paul Ryan. We don’t want to adopt the failed policy of austerity for four more years. The GOP-slowed recovery from the Great Recession during the past 3.5 years has been bad enough without making the situation worse by electing Mitt.
- Austerity is a dirty word in Europe but what next? (sacbee.com)
- Vive Hollande! M. Normal wins the day (leftfootforward.org)
- France’s Hollande focusing on growth, not austerity (radionz.co.nz)
Barack Obama Truth Team report for May 6, 2012.
Barack’s birth certificate, the Fast and Furious scandal, the Solyndra scandal, Obamacare, all these are purely distractions, invented or hyped to give the GOP reasons to attack the President which they intended to do, no matter the circumstances. The real issue this election cycle is the economy and the Republicans have done everything they can to slow the recovery. Today the voters in France and Greece will give their verdict on the austerity that the GOP wants to impose on the US. I’m betting that austerity over there will be voted out, and we don’t want it over here.
Jobs gained in the private economy are being lost in the public sector as cash-strapped states layoff thousands of employees. What this economy needs is more stimulus so that consumers feel confident enough to spend and so that they have money to spend creating demand. In normal times if the GOP were in power, they would be stimulating the economy to win election or re-election. After the election, the GOP usually induces a recession to check inflation at the insistence of the 1%. Then the 99% would suffer through the recession. If the GOP were to win in November and institute austerity, I believe that we will experience the Great Depression 2.
- GOP Senator Blames Obama For Scandals (huffingtonpost.com)