[pp.int.general] Tyrant banks, walk the plank!

[Richard Stallman]

    I don't think that austerity is
    the biggest problem, rather it is corrupt and incapable politicians that
    can not be voted out of office (like in Spain, Italy or Greece) and budget
    cuts that hit social welfare and education rather than infrastructure,
    politicians' wages or saving 'important' industries like banks, car
    manufacturers and the likes.

Austerity for the sake of deficit reduction leads to depression
regardless of how the cuts are made.

Austerity causes economic contraction which means a decrease in tax
revenue.  This increases the deficit again, so the banksters demand
more cuts, and the cycle repeats.  Greece has gone through this cycle
several times, and I think several other countries in Europe are doing
the same.

It keeps getting worse until they get out of the spiral.
Greece will probably get out by dropping the euro.

Basically, a country that tries to balance the budget when there is a
recession makes the recession worse.  A recession calls for deficit
spending and borrowing.  You repay some of the loan when good times
return, by running a budget surplus.

The 1% are running a class war in the affected countries, and the 99%
in those countries are waking up to it.  If Pirates don't take the
side of the 99%, they will vote for a party that does.  It's not only
the right thing to do, it is also necessary to win elections.

--
Dr Richard Stallman
President, Free Software Foundation
51 Franklin St
Boston MA 02110
USA
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