IMF (Politely) Confirms: Austerity Doesn't Work

Wow, it just doesn't get much more stark than this. Via Paul Krugman: On Tuesday, the International Monetary Fund came out with a new report which states, albeit in dry, fact-based bureaucratese, that the world's governments (particularly though not exclusively those in the Eurozone) ought not continue down the path of fiscal consolidation (debt-reduction), lest they risk slowing the world's...

Greece Today

Greek MPs pass austerity measures. Oddly, at the same time, Greek people weigh in on the idea of years of crushing recession to pay for politicians' profligacy & central bankers' unwillingness to make investors actually lose any money: Cause, meet effect. Dammit.