A scary thought

Mary-Ellen Synon in her latest: Merkel forgets Germany's history: 'Austerity not inflation gave us Hitler'
Murray recommends that readers should study the record of Heinrich Bruning, predecessor of Adolf Hitler as German chancellor. They could discover 'the real reason for Germany's descent into Nazism.'

'Monetarist fetishists have helped to circulate a pernicious falsehood that the Weimar ├╝ber-inflation caused the rise of Hitler.'

'The wild inflation storm occured in 1924. The Weimar economy recovered from it.'

'The Nazis came to power only in 1933, as an immediate consequence of the deflationary spiral that resulted from what Mr Wolf [commentator Martin Wolf, in an earlier article] refers to aptly as the "catastrophic austerity" introduced by Bruning.'
As Mrs. Synon notes, Greece is now suffering from policies of similarly "catastrophic austerity".

And then a thought occurs to Mrs. Synon: The three top people now forcing this catastrophic austerity on the eurozone are Angela Merkel from Germany, with its history of national socialism, ECB president Mario Draghi from Italy, with its history of fascism, and IMF chief Christine Lagarde from France, with its history of collaboration with Nazism.
But, God help us, they've all forgotten their own history.
That is one scary thought.

4 opmerkingen:

MFS - The Other News zei

Yes indeed a scary thought.

Gary Rumain zei

Does that mean Greece will become a national socialist state? Isn't it already socialist?

Klein Verzet zei

Couple of weeks ago I warned for a return of the colonels in Greece. Push the people hard enough into a poverty they do not deserve, be blatant enough about the daylight robbery that is occurring (justified or not) and something like that is exactly what will happen in Greece.

Gary Rumain zei

No doubt but we'll have to wait and see. From what I've read, most of the Greek people are culpable too. Avoiding paying their taxes and putting their hands out for handouts from politicians.