DATA DRIVEN VIEW POINT: This article is from Think Progress. Austerity is what the wealthy demand from the populous when corporate banks aren't collecting on sovereign debt. These sovereign loans have gone bad, in part, because the bankers' confederates in government have squandered their nations treasury. Consumer spending is the fire at the center of an economy. Austerity suppresses consumption by squeezing money out of citizens to pay back these loans. The wealthy need to accept some of the responsibility for making bad loans in the first place, and it is in everyone's best interest for governments to stimulate, rather than suffocate, their national economies under these circumstances.
is officially back in a recession, after seeing
growth drop 0.2 percent in the first quarter of this year. But neither Prime
Minister David Cameron nor Chancellor George Osborne are backing down from
their Conservative government’s adoption of austerity measures. United Kingdom