Austerity Kills: How the EuroCrisis is Being Used to Break the Social Contract « naked capitalism

Since economists all know that the way to get out of recession is to increase spending, one truly has to conclude that economic recovery is not the austerity proponents goal….

One aspect of the Eurocrisis that has not gotten the attention it deserves is the way it is destroying not just jobs, but the very underpinnings of society. People who took actions that were prudent at the time are increasingly at the mercy of forces beyond their control. And this isn’t a tsunami-type disaster but a man-made one whose severity is worsened by the callous attitudes of the European elites.

more at Austerity Kills: How the EuroCrisis is Being Used to Break the Social Contract « naked capitalism.

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