UN Study: Austerity Measures Pushing Global Economy Toward Disaster

[RyanPsych]

GENEVA (Tom Miles) - The pursuit of austerity measures and deficit cuts is pushing the world economy toward disaster in a misguided attempt to please global financial markets, the annual report of the United Nations economic thinktank UNCTAD said on Tuesday.

The report, entitled "Post-crisis policy challenges in the world economy," savaged U.S. and European economic policies and called for wage increases, stricter regulation of financial markets, including a return to a system of managed exchange rates, and a conscious break with market-led thinking."The message here is very pragmatic: we need to reverse our course quickly," said UNCTAD Secretary General Supachai Panitchpakdi.

Supachai, a former head of the World Trade Organization, said the policy response to the crisis, with an emphasis on fiscal tightening, was misconceived and inept. The report's lead author Heiner Flassbeck said the global economic situation was extremely dangerous and, without more stimulus, a decade of stagnation was the best-case scenario.

The current policies were a disaster, said Flassbeck, head of the globalization and development strategies division at the U.N. Conference on Trade and Development, and a former deputy finance minister in Germany.

read more at: http://www.huffingtonpost.com/2011/09/06/un-study-austerity-deficit-cuts-world-economy_n_950551.html

[femrap]

1. No kidding.....

:sarcasm: Who saw that coming?

[RyanPsych]

2. It makes my head explode that even their St. Ronnie Raygun knew this

yet they did their head further and further into the sand in their obession with Ayn Rand's absurd and sociopathic philosophy

[femrap]

3. Back in the '80's,

Ayn Rand's philosophy was nowhere to be seen nor heard. Only since Ron Paul and his son have gained some national attention has her philosophy become somewhat mainstream. Ayn Rand did not invent Greed nor Selfishness....I'd actually put more blame on the "Prosperity Fundamentalist Churches." Clinton picked up his Bible and put those Single Mothers to work while cutting Welfare to five years. (This was not done in the name of Rand.) I always wondered why he didn't place some blame on the Single Fathers??? But then it's a patriarchy and he liked to play around so I guess Morals and Hard Work only apply to Women.

It seems that Democrats (some of them) love blaming all the Greed and Selfishness on Ayn Rand. I don't know why, but there is a significant segment of dems/progressives who do so. I majored in Poli Sci in the mid '70's and she was NEVER mentioned. NEVER. Emma Goldman, yes.

I lived through Raygun....Ayn Rand was NEVER mentioned. He just liked Rich People and did everything he could to give them more. He cut education in CA while Governor because: "Why would I want to educate people so they'll learn NOT TO VOTE FOR ME?"

It's Class Warfare. And Raygun started the WAR AGAINST THE WORKING POOR AND THE POOR....and Clinton continued this war. Obama continues the War. It's only a matter of time before those Budget Cuts hit the fan in 2012 and AUSTERITY hits the US hard. Then, as in history before, will there be blood in the streets. With DHS, we have a mighty Police State in force.

And Ayn Rand had absolutely nothing to do with that. Greed is over...it's now about CONTROL AND MANIPULATION OF THE MASSES....that's what gets The Wealthy Elite all excited. The Evil that lives in the souls of the Wealthy Elite is beyond anything Ayn Rand could possibly imagine....even though she did live to see her father's drugstore taken over by the Soviet State.

I've read some of Ayn Rand's work and she would NEVER support neither Ron nor his f*cked up son. Those two men detest women...all women. They want Liberty for only men. Women will never be allowed an abortion...even if faced with death. Ayn would spit in their collective faces.

Ron Paul is a small-minded, selfish ob-gyn who knows that women will die without legal and safe abortions. If a woman cannot control her body and destiny, how can she have liberty?

Women are more than Producers of Cannon Fodder.