Michael Hudson in Counterpunch

Europe is committing fiscal suicide... Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain's David Cameron to Greece's George Papandreou... are calling for cutbacks in public spending...

Beyond merely shrinking the economy, the neoliberal aim is to change the shape of the trajectory along which Western civilization has been moving for the past two centuries. It is nothing l...