Take a page from the EU
I’m tired of hash and rehash of austerity as if it’s inevitable. These nib-nosed snobs from our highest financial sectors have led the U.S. and Europe down the garden path of dicey bonds and faulty recommendations of financial policies that led the unsuspecting to austerity has finally met their match in the EU’s new policies.
It appears that everyone, especially the financial and capitalism pukes, has had a loss of memory regarding what led up to the travails Greece is experiencing financial and with austerity. A number of years ago, Goldman Sachs was invited to Greece to advise them on how to best join the EU. After Goldman Sachs took their $120 million fee and left Greece on a sure track to failure and then be at the mercy of the IMF, World Bank, other lenders and investors who have sold their souls to the devil, capitalism, austerity has reared its ugly head with all of its ramifications, especially for the worker, unions, the poor, the old, the sick, and the young.
Trying to bounce the Euro out of the monetary system has failed and the Euro seems to be surviving. Now, the new paradigm of the EU is to lay the responsibility and accountability for banking disasters at the feet of the players, hustlers, and fraudsters and not on the backs of the citizens as in the past.
Hurrah for the EU! Wouldn’t it be a miracle if the U.S. followed suit? This is wishful thinking.
Eugene A. Diclemente