Morocco's Unions Unite to Protest Gov't Austerity

Austerity is spreading like a rabid disease, will it start a global revolution?

Thousands of workers, teachers and civil servants marched through downtown Casablanca on Sunday to protest austerity plans put in place by the Moroccan government to control runaway spending.

Faced with unrest in 2011 during the Arab Spring inspired protests, the previous government raised salaries and benefits, nearly bankrupting the country. The budget deficit rose to 7 percent of GDP in 2012 as subsidy spending rose to $6 billion a year. Under pressure from international lending institutions, it fell to the newly elected Islamist-led government of Prime Minister Abdelilah Benkirane to end subsidies on gasoline and gradually reduce them on diesel.

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Get ready as it is only beginning in the US!

reply to post by AlaskanDad


It makes me uncomfortable to think that islamists have begun to understand how economies work.

I don't care who they are....the PEOPLE are in desperate need of a BIGGER slice of the pie EVERYWHERE!

greencmp
reply to post by AlaskanDad

 

It makes me uncomfortable to think that islamists have begun to understand how economies work.

Yup, you cut wages, reduce the amount of capital circulating in the economy and step into a recession just like we have seen in Europe. You can't remove money from circulation and expect an economy to grow, that is anti logical unless you are the one pocketing the money saved.

FYI Most Islamic countries are FAR more free market than the US.

spurgeonatorsrevenge

greencmp
reply to post by AlaskanDad

 

It makes me uncomfortable to think that islamists have begun to understand how economies work.

Yup, you cut wages, reduce the amount of capital circulating in the economy and step into a recession just like we have seen in Europe. You can't remove money from circulation and expect an economy to grow, that is anti logical unless you are the one pocketing the money saved.

FYI Most Islamic countries are FAR more free market than the US.

All public expenses are funded by taxes which are removed from the economy.

Therefore, mathematically speaking, no amount of public spending can ever benefit the economy.