Archives for posts with tag: Japan

This week, the Crown O’ Polished Turds has thousands of worthy recipients: anyone and everyone who still pushes Austerity as a solution for an economy in recession. It hasn’t worked, doesn’t work, and won’t work in the future. Like Supply-Side economics, it is a theory with no supporting evidence and lots of information proving it wrong.

Recent examples include Greece and the rest of the EU, as well as Great Britain. The record pretty clearly proves that Austerity Does. Not. Work.

So to all the s*** heads pushing yet another reverse-Robin-Hood scam, we present even more s*** to put on top of your noggins. Wear it with pride, and to warn the rest of us of your approach.

Mr. B & C

PS: remember the huge 1991 Japanese recession, where they tried Austerity to fix the economy? They are STILL in a recession, 22 years later.

This past Sunday, people died in Japan when a highway tunnel collapsed: http://www.cnn.com/2012/12/02/world/asia/japan-tunnel/index.html     The highway department was short of money, and had kinda sorta maintained, repaired, and inspected the tunnel. Unfortunately,  the people who were killed are not kinda sorta dead. They are just plain dead.

Not long ago, a railroad bridge in New Jersey collapsed, and toxic chemicals spewed into a creek and beyond. The bridge is old, and had been kinda sorta patched up after the last time it collapsed in 2009 : http://www.reuters.com/article/2012/11/30/us-usa-train-derailment-idUSBRE8AT0PF20121130   Unfortunately, the people living a few yards from the bridge, the companies who depend on getting their goods to market, and the animals and plants in the stream aren’t kinda sorta messed up: they have been well and truly screwed.

All around the world, governments are putting our safety, health, and indeed our very lives at risk by neglecting our infrastructure. Yes, yes, money’s tight; but they seem to have no difficulty coming up with megabucks for their bagmen, contributors, family members, or themselves. They just ignore the unglamorous things that don’t feed their egos and bank accounts, and hope that somebody else will deal with them.

News Flash, a**holes: it’s government’s f***ing job to take care of government’s responsibilities. How many people have to die; how many jobs must be destroyed; how much of our world has to be trashed before we, the citizens of planet Earth hold our “representatives” accountable for their greed, arrogance, and criminal negligence?

Do us all a favor and pass this message along to them: it is their job to take care of their jobs. And no one else will do it. And until they do it, people are going to keep on dying.

And the needless, wasted, tragic blood of those innocents will forever stain the hands of governments.

Mr. Blunt and Cranky

Not quite a century ago, America had the Great Depression. The government at first tried to let the free market fix everything, used a tiny amount of stimulus, imposed austerity measures, and made things even worse.  A subsequent administration used huge amounts of stimulus, which helped the economy to recover and made it possible for the United States to avoid being taken over by the German Empire later on. Only a few fringe theorists think that we should have stuck with austerity in that case.

A decade or so ago, Japan had a pretty severe recession. The government decided to impose strict financial discipline and imposed drastic austerity measures. Japan’s economy has not yet gotten back to where it was before the recession, even after all these years, and independent economists have pretty much reached a consensus that austerity didn’t work in that case.

A while back, China had no particular economic issues but DID have huge honkin’ political issues. The government used unnecessary stimulus to distract the populace and is now realizing that they are about to have a recession. Neither austerity nor stimulus should have been used in that case.

A year or four ago, America and Europe got whacked with the Great Recession. America hedged its bets and went with a small dose of government stimulus, and the EU went with drastic austerity measures. Today, America’s economy is slowly (very slowly) recovering while Europe’s is circling the drain. Once again, independent economists are saying that the Yanks’ stimulus approach helped to stop the bleeding, and  the Europeans’ austerity measures have made a bad situation even worse.

So why, despite its lousy track record, do so many of us still think that austerity is a good tool to use in fixing our current financial mess?

Mr. B & C