Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Monday, August 20, 2012

Austerity Doesn't Work, vol 17652


The difference between Ireland and Iceland is more than a consonant and a stretch of frigid ocean.

Iceland avoided austerity and  - despite being the epicenter of the 2008 crash - has recovered nicely.  Meanwhile, the PIIGS are being savaged by the Austerians.

Stupid reality...Always gets in the way of the theory.

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