You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Call it what it is: a depression by Paul Krugman [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
Hatchling Donating Member (968 posts) Send PM | Profile | Ignore Tue Dec-13-11 02:59 PM
Original message
Call it what it is: a depression by Paul Krugman
Advertisements [?]
It's time to start calling the current situation what it is: a depression. True, it's not a full replay of the Great Depression, but that's cold comfort. Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege.

On that last point, I am not being alarmist. On the political as on the economic front it's important not to fall into the "not as bad as" trap. High unemployment isn't OK just because it hasn't hit 1933 levels; ominous political trends shouldn't be dismissed just because there's no Hitler in sight.

..snip

Right-wing populists are on the rise from Austria, where the Freedom Party (whose leader used to have neo-Nazi connections) runs neck-and-neck in the polls with established parties, to Finland, where the anti-immigrant True Finns party had a strong electoral showing last April. And these are rich countries whose economies have held up fairly well. Matters look even more ominous in the poorer nations of Central and Eastern Europe.


..snip

Taken together, all this amounts to the re-establishment of authoritarian rule, under a paper-thin veneer of democracy, in the heart of Europe. And it's a sample of what may happen much more widely if this depression continues.


I took four of the more interesting (terrifying?) paragraphs from the piece. It's not so much that a depression is here but that the depression is leading to the rise of authoritarian rule all over the world. And unlike the World War II era where the US and Britain balked against Fascism, the two countries are leading the move to a fascist rule.

Stolen elections.
Squashing unions
Militarizing the police.

It's a very bleak future.



Printer Friendly | Permalink |  | Top
 

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC