It is perfectly obvious that the Nonsense Economics imposed by The Frau and others simply has not worked. It is obvious that austerity uber alles is a death sentence. And a slow lingering death at that too. It is obvious that only people who are insane, insensitive, stupid, blind or suffering from blinkered dogmatism would persist with such an obnoxious but above all ineffective, not to say catastrophic, policy.

And yet, these nice people seem to have dug themselves in. No, no, no! We are right! You must cut your deficits by decreasing your production and reducing demand as much as you can. Oh really? As to seeing this isn’t working? Well, they shrug it off, it WILL work, eventually, it’s just that you are all not doing it right.

In and article by Yani Varoufakis and Joseph Halevi entitled Italy’s Own Goal the writers point out how Italy (especially under The Frau’s hand picked technocrat) has been all gung ho over “water-boarding” as they aptly put it, Greece Portugal and Spain. However, as a result Italy has scored an own goal. The trade balance between Italy and Greece used to be 5 – 1in Italy’s favour and has now shrunk to 2 – 1. Which might sound good for Greece only that this has not resulted from increased productivity in Greece but from the collapse of the Greek economy.

As they point out, were Greece to be nuked into total destruction then she would no longer have a deficit at all. Would that be deemed a success? I hate to think it, but I’m sure The Frau would count this as a resounding success. Nevertheless, Italy, for all her smug, I am with the big boys attitude, is due to come into some water-boarding herself very soon. And losing exports is no way to pay off her own enormous debt either.

Another article clearly outlining what is going on is Will Hutton’s: The facts are clear: This cruel austerity experiment has failed. The battle lines have been drawn up, the right wing free marketeers on one side and on the other? No, not the looney left but moderate human intelligence as expressed by Keynes. Will Hutton tells us “Today we can see an almost laboratory experiment on a global scale of why Keynes was right and his detractors wrong“.

At least the consensus seems to be breaking. Whereas no one dared challenge The Frau’s Nonsense Economics, now an opposition is beginning to form. Battle lines are being drawn between the forces of Greed and Inhumanity on the one hand, and Social Responsibility and Economic Sense on the other. However, it will be a battle, a war, things may have to get a lot worse before the forces of pure evil are vanquished.

Nevertheless, if Greece was a ticking time bomb, Spain is a nuclear threat. For the moment Spain appears reluctant to bow her head to The Frau’s iron will and submit herself to water-boarding. The Frau and her ex side kick did everything they could to keep kicking the can down the road to gain time while refusing to impose anything that made any sense.

Germany’s policy was is and remains, heads I win tails you lose. I shall gain but shall give nothing and you will lose and give me everything. It never worked, it isn’t working and it cannot work. But we’re in for the show down. The only thing we can do perhaps not only here in Europe but all over the world is shout

Help!