Economy

xchrom

(108,903 posts)

36. Pain in Spain: Austerity Falls Mostly on the Middle Class, And Yet…

Tue Jan 15, 2013, 10:17 AM

Jan 2013

http://www.commondreams.org/view/2013/01/15

Scratch the surface of any austerity policy, and chances are you’ll see a bank protection program masquerading as good economic policy.

That’s certainly the case here in Spain, where banks are being made whole, while the middle class is getting flayed and spayed.

But curiously, there’s something missing.

The depression-scale economic collapse here isn’t accompanied by the kind of complete unmooring of society one would expect. In short, the economy is depressed, but the people aren’t.

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