Tightening other peoples belts

Austerity, the prescription for the economic woes of the world.

Although  the elites don't admit it, the world is now in the grips of a depression.

Unemployment within the EU is over 10%, it probably is here too.

In places like Spain the unemployment rate for the under thirties is at over 50%.

The USA is little better - despite the spin unemployment there is around the 11% mark.

The elites have squandered and are still squandering the wealth built up by preceding generations.

It is part of a never ending cycle - resources and energy are ploughed into the wrong things, bubbles form, those who accrue wealth and power unto themselves grow greedier and greedier  and then the bubbles burst.

And as they burst those who built them and prospered from them protect their own by imposing austerity on other people - the powerless who as ever suffer the consequences.