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General News    H2'ed 4/17/21

As Nations Slash Budgets, Global Study Warns of Looming Austerity Shocks

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' A global study by the Initiative for Policy Dialogue at Columbia Univ. international trade unions & civil society organizations, sounds an alert of an emerging austerity shock: Most governments are imposing budget cuts, precisely at a time when their citizens and economies are in greater need of public support.The high levels of expenditures needed to cope with the pandemic have left governments with growing fiscal deficit and debt. However, rather than exploring financing options to provide direly-needed support for socio-economic recovery, governments—advised by the IMF, the G20 and others—are opting for austerity; budget cuts are expected in 154 countries this year, and as many as 159 countries in 2022. This means that 6.6 billion people or 85% of the global population will be living under austerity conditions by next year, a trend likely to continue at least until 2025.'

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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molly cruz

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Money is pretend. We can make as much of it as we need, pick up another bag of oyster shells, wampum, and get on with it.

For most of us, austerity is not being able to find our favorite shampoo.

It has occurred to me, since money is only representational of work at some level, the trick to avoid inflation is to fix the single unit of exchange on something eternal, and I've chosen the price of a square meal, since down to the last calorie we understand it. We should be able to live as far as diet goes, on three bucks a day.

Submitted on Saturday, Apr 17, 2021 at 10:57:51 AM

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