Thursday, May 17, 2012

"The atmosphere here in Frankfurt is tense"

As documents the US government has been forced to release under Freedom of Information Act requests begin to surface and reveal details of how the Obama Administration coordinated and directed the nationwide, often violent police crackdown on the Occupy Wall Street late last year, peaceful Occupy protesters at the other main center of the assault on worker's living standards, German Central Bank headquarters in Frankfurt, Germany, are withstanding attacks by riot police who outnumber them 2 to 1.

"Blockupy" protests Frankfurt - Denver Post
President Obama, as some may still recall, spent the first three years of his administration promoting policies that helped the Capitalist class widen the growing chasm in income and wealth between the 1 percent and the 99 percent. But Obama is now attempting to capitalize on worker discontent with cynical election year ploys like class based attacks on his opponent and, after years of opposing gay marriage, suddenly announcing he is favor of it.

 In Europe, German Chancellor Angela Merkel has been leading the assault on workers, forcing government after government to adopt so called austerity measures as a condition of maintaining access to the credit governments rely on to fund their operations. Merkel is the de facto chancellor of the European Union and so represents the interests of European, largely German banks.

After voters in Greece last week rejected so-called "austerity" measures forced on them by Merkel and French Presient Nocholas Sarkozy, who himself was recently tossed out of office in favor of a Socialist, Merkel immediately announced that there would be let up in the hardships and privations Greek workers are being forced to endure.

Merkel, head of the Christian Democratic Union, Germany's equivalent of the Republican party, doesn't face reelection until 2014. Her party has suffered a string of defeats in regional election but Merkel continues to blindly push ahead with Neoliberal policies that are designed to increase wealth and income gaps by transferring wealth from the working people to the 1 percent by freeing the rich from paying taxes and holding down wages.

As a result of the austerity Merkel has promoted, the European Union economy has slipped back into recession. The US economy technically has been growing but a double dip recession still threatens. Jobs are not being created but the economy is growing slowly because corporate profits are increasing. 

The less money people have in their pockets, the less money they have to spend. Neither Merkel or Obama concern themselves with this fact. Both are devoted to supply side economics, also known as Neoliberalism, or Reaganomics, which has never been shown to work anywhere, except as a device to redistribute wealth upward.   

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