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of course supply side is bullshit. it's been bullshit from the outset.
milty freidman's theories of magickal wealth creation are nonsense.
and they aren't relevant to this thread.
the problem that's unfolding in the eu across the greek crisis---which is connected to the move in germany that the thread is actually about---is in significant measure a *political* crisis to do with the collapsing status of neo-liberal ideology. functionaries of the new class war cannot expect words like "necessary cuts" in the name of some imaginary "fiscal responsibility" to hold. the imf is the quintessential neo-liberal organization. it's primary function has been to generate socio-economic crisis in the southern hemisphere since the 1970s in the interest of softening up space for the expansion of neo-colonial economic relations---you know, what we in the metropole call "globalization"---the idea that the imf has suddenly reverted to its bretton woods function (and somehow jettisoned an entire staff of expert engineers of crisis) is laughable. at the same time, that there is no overarching governor (in the motor sense) that is able to act meaningfully to address structural problems is worrying. that's what we're watching happen.
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a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
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