Austerity is making the whole world poor (which is what they used to warn us about communism)

Austerity is bringing on a global recession – War Room –
Wednesday, Aug 17, 2011 08:45 ET
U.S. and European economies are sputtering. If we keep cutting public spending, we’re doomed
By Robert Reich

This originally appeared on Robert Reich’s blog.

Not only is the United States slouching toward a double dip, but so is Europe. New data out Tuesday show even Europe’s strongest core economies — Germany, France, and the Netherlands — slowing to a crawl.

We’re on the cusp of a global recession.

Policy makers be warned: Austerity is the wrong medicine.

Read more.

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