Breaking: Hooverism Doesn’t Work
By Ireland has been a teabagger laboratory, going with a program of austerity to deal with a financial crisis. How’s that been working out?
Ireland’s economy shrank 7.1 percent last year and remains in recession. Signs of the downturn are everywhere. Dublin’s main shopping area is full of for-rent signs and handwritten posters in store windows advertising special one-day sales. Mr. Morgenroth sits in his office overlooking an almost vacant office complex.
OK, but despite all the misery the austerity has caused, at least they didn’t have to bail out the banksters, right? Oh wait. And more won’t be inevitable right, right? Well, funny thing about that…