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Business and consumer confidence are sinking. Investment is down. So are government revenues. Unemployment is rising. Less household income and lower consumption follow. Sovereign debt levels rise. So does instability compounded by more austerity.
Policy makers know everything tried so far failed. Instead of addressing crisis conditions responsibly, they keep kicking the can down the road.
They're also packaging old wine in new bottles. They hope earlier failures will magically succeed this time. Don't bet on it.
Stephen Lendman lives in Chicago and can be reached at Email address removed .
His new book is titled "How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War"
http://www.claritypress.com/Lendman.html
Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.
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