Naturally, there are strings attached. In this case, the austerity measures demanded
by the EU and the IMF include a 10% forfeiture of savings bank deposits.
The bankers and politicians fail. Innocent people pay the price, as they have
throughout the global economic crisis.
First, they lose their equity in stocks and in their own homes. Now they are being penalized again for their own
hard work and thrift.
And so the greatest wealth transfer in modern
history continues apace. How soon before
austerity comes home to roost in the United States? How will we respond?
I truly want to believe that there would
finally be a backlash against the plutocrats, a true occupation of Wall Street,
but I cannot. Sadly, the public will do
what it’s done since 2008. It will blame
the Democrats, shiftless welfare cheats, and spendthrifts who owe more than
they can ever pay. In the end our false
consciousness, our willingness to be capitalism’s useless idiots, will be our
undoing. We’ll lick our masters' boots even as they kick us into our
graves...
© 2013 The Unassuming Scholar
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