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Message Subject THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Poster Handle RoXY
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Euro-US Cold Winter - Seething Anger
By Eric Walberg

The eviction of demonstrators last week is an ominous metaphor for ruling elites, whose own days are surely numbered, ponders Eric Walberg

As protesters fed up with the increasing injustices of the global economic system get chucked out of their latter-day Hoovervilles, Euro-American elites might consider when their turn will come. For the financial crisis facing Greece, Ireland, Italy, Spain and who-knows-where next is really about who pays for the past three decades of largesse.

The popular perception is that the ordinary people have been living "beyond their means", a false and invidious conventional wisdom which masks the real nature of the crisis. For it is the elites across Europe and the Americas who have benefited most from the European Union, built on Reaganite neoliberalism, which in turn was fashioned to meet the needs of business. The neoliberal policies of all Western governments, "left" or "right" during the past three decades are the direct cause of the current highly skewed income distribution ­ by some accounts, worse than in any previous era of human history.

The supposed generous patriarch of this big happy family is Germany, with its hard workers and tidy streets. But while the Aesopian Greek hares are told they must tighten their belts and make do with less health and education, the fact that the Greek arms imports continue to grow - importing German weapons and "defence" systems (against what threat?) - is not mentioned. And it is not only weapons, but consumer goods from Germany that have displaced Greek products in the anonymous Euro-market, as Greece increasingly becomes northern Europeans' decadent playground, albeit with more than its fair share of un- and under-employed.

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