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View Diary: The U.S. has learned nothing from Europe's deadly obsession with austerity (105 comments)

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  •  This bizarre concept (4+ / 0-)

    has even spread to Australia, which has the 3rd lowest debt to GDP ratio in the world. When money has never been this cheap, Australian politicians are fretting about the deficit! This would normally be a time for a country like Australia to initiate some really big projects like national broadband, building out high speed rail, decarbonizing the economy, etc. But all they can do is sit in the corner and quiver in fear. If a vibrant, truly strong economy like Australia is doing this, what hope elsewhere?

    For if there is a sin against life, it consists perhaps not so much in despairing of life as in hoping for another life and in eluding the implacable grandeur of this life. - Albert Camus

    by Anne Elk on Sun Apr 07, 2013 at 08:24:11 PM PDT

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