Incumbent politicians and parties, both Center-left and Right, have suffered serious defeats in recent elections. The principal beneficiary has been the extreme Right. Nowhere did the ‘consequential Left’ register a victory, although in a few instances it marginally increased its vote. The one major exception has been Turkey, where the incumbent Erdogan regime scored a ‘victory’ on November 1, 2015 by resorting to widespread violence during the general election campaign to intimidate and silence his opposition after having suffered a sharp (and surprise) defeat five months earlier in June 2015 when secular civil groups, leftists and Kurdish linked parties upset Erdogan’S parliamentary majority. During the recent campaign, Erdogan resumed bombing of Kurdish regions, both inside Turkey and across the border in Syria and Iraq. He shut down opposition newspapers and TV stations, and imprisoned hundreds of secular, leftist activists. Scores of opposition party regional offices were firebombed and wrecked. […]
By Stefan Molyneux When debt consumes a country and its financial system collapses – who will pay? Who will be held responsible for the bad decisions, the debt and the malinvestment? Throughout history, it is typically the young who are sacrificed for the sake of the older generation; young people are herded into the buzz saw of war and have their futures sold off through massive debts long before they escape the crib. As financial collapse looms above several major world economies – who will be held responsible when the bill comes due? Support Stefan here Related articles Re-incarnation: A Blessing or a Curse?
A third of higher income Americans are living paycheck-to-paycheck, even when they earn $75,000 a year because they would rather spend money on eating out and experiences than save money for retirement, according to a new survey. In a poll of 519 households earning $75,000 or more, nearly a third of them live paycheck-to-paycheck, at least some of the time, SunTrust Bank found. Almost half (44 percent) of participants said that spending on lifestyle purchases – like dining out and entertainment – causes them to save less than they should each month. Eating out was the biggest reason people said they are not saving enough, with 68 percent of respondents giving it as their main excuse. But one third of participants said a lack of financial discipline at least sometimes holds them back from achieving their goals. Millennials fared even worse when it came to saving: 71 percent blamed […]
The powers that be are getting nervous as other countries consider following Greece’s lead. Mario Seccareccia, a professor of economics at the University of Ottawa, has been outspoken in his warnings that austerity policies have the potential to smash economies and spread human misery. In his work supported by the Institute for New Economic Thinking and elsewhere, he has challenged deficit hawks and emphasized the need for strong government investment in things like jobs, education, healthcare, and infrastructure if economies are to prosper. In the following interview, he talks about why what happened to Greece was entirely predictable, why the Greeks were right to reject austerity in the recent election, and what challenges the country faces in forging a sustainable path forward with the left-wing Syriza party at the helm. Lynn Parramore: You have long been warning of problems in the Eurozone. What do the Greek elections mean to […]