Thanks for visiting this blog, created in July 2012 out of great concern for the fate of the €uro currency area, once again on the verge of collapse due to the economically ill-advised and heartless austerity policies imposed on Greece, Spain and other heavily-indebted €uro area countries by a christian democratic German chancellor impressed with the budgeting skills of Schwabian housewives. Meant to reduce the public debt and put the countries back on a path to economic growth, these macro-economically idiotic policies are doing anything but cause "pointless misery" as Paul Krugman so aptly describes it (Bloomberg, July 23-29, 2012).

Instead of reducing public debt, the austerity measures set in motion a vicious cycle of economic contraction, rising unemployment and poverty, lower tax revenues, private capital flight, and rising public debt shares as the economy declines faster than the public debt. What’s more, the austerity-driven ‘blood, sweat and tears’ policies recommended to the European periphery derive from the same economic doctrine that brought us to the brink of disaster in 2008. These policies are not only misanthropic and counterproductive to economic growth and debt reduction in Europe, but will prove explosive for the €uro currency area unless a drastic change of course takes place - and soon.

While I do not pretend to have ‘the’ solution for the €uro crisis, I would like to offer alternative economic perspectives and views on current events, and hope to chart a more humane path toward a balanced, socially fair, and sustainable economic future for the €uro area.

On the origins of the 2008 Great Financial Crisis:
90+% of traders are men, and they bet all of our bank deposits on liar loans which froze credit leading to 40% average losses passed on to ordinary taxpayers; then begged for trillion-dollar bailouts upon which they paid themselves 50% higher boni.”


Sunday, May 18, 2014

European Elections 2014: Voting Recommendations for the Largest Voter Group in Germany


The largest voter group in Germany are women over 50, accounting for 17.4 million voters or 28.2% of all persons entitled to vote. This compares to 24.3% of men in that age group and 23.5% of women in the age group 18-50 (see the estimates in the press release of Germany's Federal Returning Officer - Bundeswahlleiter - of February 21, 2013). For the European elections I expect the figures to differ a bit, but not substantially.

The growing influence of mature voters on election results in Germany is compounded by the fact that electoral participation among women 50+ is above average, due in part to a higher political consciousness as the women of this cohort either witnessed or participated in the women's movement of the late 1960s and 1970s.

Voting recommendations for the European elections 2014:

1.) Based on the unquestionable statistical evidence, women over 50 need to realize that we have the power to significantly influence political decisions in Germany and - since Germany has one of the largest populations in the EU - in the European parliament. That is: if we work together, not against each other as is so often the case in Germany.

2.) Once we realize our power and decide to work together, we can change the EU and particularly the eurozone for the better, i.e. institute policies that benefit women and children instead of hurting us (like the austerity policies and structural 'reforms' designed to cut the very social services that we need); constrain the financial sector that benefits mostly (male) speculators; other measures to (re-)transform the European Union into the social, humane, and environmentally sustainable peace project it was meant to be.

3.) To work together, we ought to avoid parties that follow the old and tried tradition of replacing mature women with 20 and 30-somethings. The idea behind this (male) strategy is clear: combining experienced old men with inexperienced but mallable young women ensures that men preserve their power (and makes life more colorful as Joseph Ackerman used to say). This strategy also supports the interests of the financial sector as younger women can be used to attack the state-financed pension system older women depend upon, and thus help divert retirement savings to private financial firms.

4.) Avoid Germany's green party as they have become experts at the above-mentioned 'throw the old bitches out'-strategy and are increasingly dominated by austerity-promoting, business-friendly 'realos' from the rich Länder in South-Western Germany (the Swabian housewives and -men I so often complain about in this blog). 

5.) If you want more humane, socially fair and progressive economic policies in Europe, it's obvious you should NOT vote for Merkel's 'christian' democrats (CDU) nor for Bavaria's 'christian' social union (CSU). These two parties are anything but christian and mainly serve Big Business, not the average European citizen.

6.) If you want a significant change for the better in economic policy making, you need to assess whether the SPD and her sympatico leader Martin Schulz will have the 'cojones' to work against Big Business, if necessary, to stand up for the social, economic and democratic rights of the average European citizens or not.  You should also examine whether the SPD follows the strategy explained under point 3.).

7.) Please read this article before you vote, especially the last sentence: "Der Trick mit der Troika".

Other than that, I have no specific recommendations and wish you an enlightened voting decision at the ballot box next week. I know which party I will vote for, to send a loud and clear message to the nincompoops currently in power.


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