The dirty secret behind right-wing austerity

Posted in the Lockport Forum

Typical

Lockport, IL

#1 Apr 26, 2013
The motivation behind the world-wide economic con of austerity has been discovered. And, the source is none other than Pete Peterson - the debt-obsessed billionaire who stands to make billions off the privatization of our social safety net. Just days ago we told you how a 28-year-old grad student debunked the Reinhart-Rogoff study used to push austerity throughout the world. Well, now we know why Republican "fuzzy math" was used in the first place. Pete Peterson's organizations bankrolled that study.


Kenneth Rogoff, one of the study's leading authors, is a member of the Advisory Board at the Peterson Institute, which published the pro-austerity study. And, Carmen Reinhart is a regular participant of Peterson Institute functions, along with the likes of Paul Ryan and Alan Simpson. While the now-debunked study's math might have been written off as a mere error by the authors, the link to Peterson indicates that ideology, rather than incompetence, is the cause.


The austerity-induced human suffering and economic destruction should have been evidence enough for democrats to stop believing in budget-cut myths. But, the link to Peterson proves that "high debt causes slow growth" theory is nothing more than right-wing manufactured hysteria. Peterson and the corporatist machine have created this problem, and the so-called solution, to perpetuate the myth that government spending - not historically low tax revenue - is the real problem. And they have even gotten democrats to believe it.


It's time for President Obama and Democratic leaders to see the writing on the wall and take a formal stand against austerity. No nation, in the history of the world, has ever cut it's way to prosperity, and no fabricated economic study can change that.
Barry Goldwater

Lockport, IL

#2 Apr 27, 2013
The downturn is most connected to the age of a countries population. The borders will stay open because the only fast way to bring younger population in is import them. Anglo-American birth rates are at all time lows. Japan has had this stagnant economy for two decades because of aging population and no immigration. People always look for political sales jobs between the parties, when in reality there is little difference between your only two choices. Obama and Bush are both incompetent puppets owned by the highest bidder. Eventually, this does limit economic performance further than intended. Just enjoy your military strength, it is second to none while Americas internal fabric rots. Keep waving that flag and blaming anyone that scares you. I know our enemy and it is us.

Since: Sep 08

Neon City Oh.

#3 Apr 27, 2013
Austerity is just another far right lie.
There is not one nation in the history of the world, that became prosperous through austerity.
Barry Goldwater

Lockport, IL

#4 Apr 27, 2013
The problem is that no party in America is preaching austerity. Both parties continue to feed the beast, military spending and disguised military spending (foreign aid). At some point you have to keep the money internally for middle class growth and spending. The wealthy bank it and the corporations invest worldwide where labor is cheap and regulations don't exist. Bottom line is that government spending does not spur growth whether it is Lindsey Graham giving money to Israel and GE or Obama funding Head Start.
Sigmund Freud

Naperville, IL

#5 Apr 27, 2013
The original poster of this thread is living proof that liberalism is indeed a mental disorder.
liberal slayer

Joliet, IL

#6 Apr 28, 2013
True that.

Since: Dec 12

Location hidden

#7 Apr 28, 2013
WDRussell wrote:
Austerity is just another far right lie.
There is not one nation in the history of the world, that became prosperous through austerity.
Austerity alone does not make one prosperous true, however getting government out of being the answer for everything does. Keep in mind that when the government is involved in any private sector economy it crowds out private investment. Why? The government does have to show a profit all government needs to do is raise taxes to generate revenue. That issue there though is eventually the rates are raised so high no private investment occurs. Look at Europe as a whole show me one country that is experiencing an economic growth aside from Germany. You cannot.
Germany is the only one

Lockport, IL

#8 Apr 28, 2013
EJCDad wrote:
<quoted text>Austerity alone does not make one prosperous true, however getting government out of being the answer for everything does. Keep in mind that when the government is involved in any private sector economy it crowds out private investment. Why? The government does have to show a profit all government needs to do is raise taxes to generate revenue. That issue there though is eventually the rates are raised so high no private investment occurs. Look at Europe as a whole show me one country that is experiencing an economic growth aside from Germany. You cannot.
I totally agree that you are correct. Reading about the countries I see the same thing.
Jenny

Lockport, IL

#9 Apr 28, 2013
Germany is the only one wrote:
<quoted text> I totally agree that you are correct. Reading about the countries I see the same thing.
Yes, Germany is the only one.

Since: Dec 12

Location hidden

#10 Apr 28, 2013
EJCDad wrote:
<quoted text>Austerity alone does not make one prosperous true, however getting government out of being the answer for everything does. Keep in mind that when the government is involved in any private sector economy it crowds out private investment. Why? The government does not have to show a profit all government needs to do is raise taxes to generate revenue. That issue there though is eventually the rates are raised so high no private investment occurs. Look at Europe as a whole show me one country that is experiencing any economic growth aside from Germany. You cannot.
Grammar edits
Danille Soloude

Lockport, IL

#11 May 2, 2013
EJCDad wrote:
<quoted text>Austerity alone does not make one prosperous true, however getting government out of being the answer for everything does. Keep in mind that when the government is involved in any private sector economy it crowds out private investment. Why? The government does have to show a profit all government needs to do is raise taxes to generate revenue. That issue there though is eventually the rates are raised so high no private investment occurs. Look at Europe as a whole show me one country that is experiencing an economic growth aside from Germany. You cannot.
So you are saying that it's the wealthy that should be the answer for everything? Yeah, that will work out. FOR THE WEALTHY. Just look at how they are already able to slant our government their way. Their greed has already killed the American Dream.

Since: Dec 12

Location hidden

#12 May 2, 2013
Danille Soloude wrote:
<quoted text>
So you are saying that it's the wealthy that should be the answer for everything? Yeah, that will work out. FOR THE WEALTHY. Just look at how they are already able to slant our government their way. Their greed has already killed the American Dream.
Spoken like a Keynesian http://townhall.com/columnists/thomassowell/2... http://blogs.the-american-interest.com/wrm/20... http://www.heritage.org/research/reports/2011... Please stay off HUFF PO and Media Matters Read this http://bastiat.mises.org/2012/04/applying-cap...
Barry Goldwater

Lockport, IL

#13 May 3, 2013
You have touched on the subject of driving up costs. Look at the three big issues of our time. Education costs, medical costs and the housing bubble. All artificial price increases were caused by government money in the market that killed competition and rewarded corruption. You would think Republicans and Democrats alike would run from these practices, They don't, because their campaigns are paid by the profiteers. It works the same way with military spending and foreign aid. The only people that address these truisms are labeled as out of the mainstream. It will be tough to correct this path because your mainstream media (both left and right) are owned by the profiteers.

Since: Dec 12

Location hidden

#14 May 3, 2013
Barry Goldwater wrote:
You have touched on the subject of driving up costs. Look at the three big issues of our time. Education costs, medical costs and the housing bubble. All artificial price increases were caused by government money in the market that killed competition and rewarded corruption. You would think Republicans and Democrats alike would run from these practices, They don't, because their campaigns are paid by the profiteers. It works the same way with military spending and foreign aid. The only people that address these truisms are labeled as out of the mainstream. It will be tough to correct this path because your mainstream media (both left and right) are owned by the profiteers.
I highly recommend the book Investor Politics by John Hood for a great explanation of how government involvement in those three areas you mentioned has caused much of the issues we are faced with today.
Danielle Soloude

Lockport, IL

#15 May 8, 2013
More truthful books would be:

Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon
By Gretchen Morgenson and Joshua Rosner

Or:

The Fifteen Biggest Lies about the Economy: And Everything Else the Right Doesn't Want You to Know about Taxes, Jobs, and Corporate America by Joshua Holland

Or:

Screwed: The Undeclared War Against the Middle Class - And What We Can Do about It by Thom Hartmann

Or:

Who Stole the American Dream? by Hedrick Smith

Or:

Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich--and Cheat Everybody Else by David Cay Johnston
Barry Goldwater

Lockport, IL

#16 May 11, 2013
Thanx for some great reading tips. I just wonder if we will ever have control again or better yet, did we ever?

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