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Protests... some violent... have been raging for a full week now across Europe in response to new austerity measures being imposed on a half dozen nations in the Eurozone.

(I joined two news clips, one a short mention of the protests in Athens the day after the election, joined by Wednesday's more extensive report on a massive protest in Madrid, Spain yesterday.)

A week ago Tuesday, labor unions in Greece paralysed the nation following a 48-hour strike protesting new austerity measures imposed upon them by the Troika (the IMF, the EC and the European Central Bank).

By Wednesday (a week later), the protests had spread across Europe into Italy, Portugal and Madrid, Spain where "hundreds of thousands" took to the streets protesting further budget cuts and tax increases that have already created rampant unemployment, crippling the economies of six European nations.

Photo slideshow here.

"Austerity" is destroying the European economy (and bringing down world markets with it), but wealthier nations like Germany & the UK (which grew their way out of the Recession by investing in green technology and infrastructure [pdf]), which are loaning these countries money through the IMF (International Monetary Fund), are more concerned with being paid back than aiding the economic recovery of those nations, and like the GOP in this country, they are wedded to the idea that "budget cuts" and "reduced spending" are the path to prosperity despite all evidence to the contrary. As the video notes, unemployment continues to rise in Spain, now approaching a stomach-churning 26%, while Portugal's "debt" is now 107% of the nations' GDP. Greece has seen its economy contract by 23% in just the past five years. Not exactly a recipe for growth that would make any lender comfortable with ever being paid back.

You may have noticed that the Stock Market took a nasty dive (313 points) the day after President Obama's reelection on November 6th and has been tumbling ever since. So naturally, some Republicans were quick to blame President Obama's reelection and the looming "fiscal cliff" for the sudden plunge on Wall Street. It's nonsense of course, but it makes the Right feel better to think Wall Street is terrified of a second Obama term.

Because if there's one thing Wall Street hates, it's "uncertainty"... and who knows what this "Obama" guy will be like as President? Am I right?

You've no doubt heard a parade of endless right wingers like crazy uncle Ron Paul and supposed moderates like Lindsey Graham warning their viewers to be very frightened that America is fast becoming Greece.

"What is calamitous is the path we’re on as a nation,” he said. “We’re becoming Greece.”

So they propose the same crap that the EU is demanding from their counterparts ie: 'Austerity, bitches.' Make sure the people suffer terribly is the only way.

Thousands of angry Greek and Spanish voters outraged by more looming austerity measures took to the streets of Athens and Madrid on Wednesday, demanding their governments slow down budget cuts aimed at avoiding bankruptcy.In Athens, what started as peaceful protests by tens of thousands of strikers ended up with demonstrators throwing gas bombs and bottles at police officers."People were just protesting against the new austerity measures, and it suddenly started raining flash-bang grenades and Molotov cocktails, so we had to leave the square," said Maria Vasiliandi, 41, a public-sector worker who was taking part in the march.

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Spain has undergone two days of violent protests because of cuts to public benefits and jobs due to be announced in Madrid on Thursday for the 2013 budget. The cuts are an attempt to meet austerity targets demanded by the eurozone, the 17 nations that use the euro as currency, in return for financial assistance.

To date all countries involved in horrendous austerity cuts that are supposed to cure all their economic ailments is a major fail, but as usual all those that are forcing people to experience these hardships never have to feel their wrath. A recent NY Times editorial states this:

Demonstrators have been filling the streets of southern Europe’s capitals in numbers too large for politicians to safely ignore, protesting the latest economic austerity measures. Hundreds of thousands have turned out in Lisbon, Madrid and Athens, and more such protests are likely in coming days. The public’s patience is running out on austerity policies demanded by the German government and European Union leaders, which have conspicuously failed in their stated goal of reducing debt burdens and paving the way for economic revival. Instead, it’s clear that these measures will accelerate depression-levels of unemployment and damage social safety net programs when they are most needed.

Obviously comparing America to Spain or Greece is a ridiculous comparison to make. Paul Krugman says:

For the past two years, the Greek story has, as one recent paper on economic policy put it, been "interpreted as a parable of the risks of fiscal profligacy." Not a day goes by without some politician or pundit intoning, with the air of a man conveying great wisdom, that we must slash government spending right away or find ourselves turning into Greece, Greece I tell you.Just to take one recent example, when Mitch Daniels, the governor of Indiana, delivered the Republican reply to the State of the Union address, he insisted that "we're only a short distance behind Greece, Spain and other European countries now facing economic catastrophe."

By the way, apparently nobody told him that Spain had low government debt and a budget surplus on the eve of the crisis; it's in trouble thanks to private-sector, not public-sector, excess. But what Greek experience actually shows is that while running deficits in good times can get you in trouble -- which is indeed the story for Greece, although not for Spain -- trying to eliminate deficits once you're already in trouble is a recipe for depression.These days, austerity-induced depressions are visible all around Europe's periphery. Greece is the worst case, with unemployment soaring to 20 percent even as public services, including health care, collapse. But Ireland, which has done everything the austerity crowd wanted, is in terrible shape too, with unemployment near 15 percent and real GDP down by double digits. Portugal and Spain are in similarly dire straits.

So if their is a case to be made to America, it's this. Austerity sucks in times of recession. Don't believe me? Just look at the facts. And ask yourself this. Where is the proof that austerity has worked since the financial crisis hit? You can't find any except through empty words coming out of Germany or conservative hacks like Prime Minister Cameron.

Cameron indicated that Britain's programme of spending cuts, initially planned to take five years, could last until 2020."This is a period for all countries, not just in Europe, but I think you will see it in America too, where we have to deal with our deficits and we have to have sustainable debts. I can't see any time soon when ... the pressure will be off,"
When the Conservative/Liberal Democratic coalition took power in 2010, it introduced an austerity programme of increased spending cuts and tax increases that was intended to finish by 2015.The programme was extended to 2017 late last year, however, and is expected to save the government about 110 billion pounds in total.

His solution is an endless austerity which attacks the people he's supposed to be trying to help. And by the way, it's really not austerity itself that is extending Europe's problems, it's those that prescribe it as a remedy that are killing the economy.

Krugman finishes with this:

So it is time to stop invoking Greece as a cautionary tale about the dangers of deficits; from an American point of view, Greece should instead be seen as a cautionary tale about the dangers of trying to reduce deficits too quickly, while the economy is still deeply depressed. (And yes, despite some better news lately, our economy is still deeply depressed.)

The truth is that if you want to know who is really trying to turn the United States into Greece, it's not those urging more stimulus for our still-depressed economy; it's the people demanding that we emulate Greek-style austerity even though we don't face Greek-style borrowing constraints, and thereby plunge ourselves into a Greek-style depression.

Amen.

"Politics," Republican Senator Arthur Vandenberg declared during Harry Truman's presidency decades ago, "stops at the water's edge." Not, it turns out, for Mitt Romney. Three years ago, Romney blasted Obama's "apology tour" even as the President was visiting Cairo, Ankara and other capitals. (For that slander, the Washington Post fact-checker gave Romney a "Four Pinocchio" rating.) Now, the Republican nominee has dispatched his chief economic adviser, Glenn Hubbard, to pen an op-ed in a German paper to undermine the Obama administration's position on the economic crisis in Europe.

For months, the White House has been pressuring Euro zone leaders and German chancellor Angela Merkel to take action to stabilize Spain and Greece while backing away from the draconian austerity programs that are dragging down European economies and threatening the U.S. recovery. Even as Treasury Secretary Timothy Geithner pushed for the rescue of Spanish banks, President Obama used his press conference Friday to issue a warning:

Over the longer term, even as European countries with large debt burdens carry out necessary fiscal reforms, they've also got to promote economic growth and job creation. As some countries have discovered, it's a lot harder to rein in deficits and debt if your economy isn't growing. So it's a positive thing that the conversation has moved in that direction, and leaders like Angela Merkel and Francois Hollande are working to put in place a growth agenda alongside responsible fiscal plans.

But even as the Obama administration was sending Merkel one message, former Mitt Romney's chief economic adviser, Glenn Hubbard, was taking to the pages of the business journal Handelsblatt to argue the reverse in his screed, "Don't Learn from America." As The New York Times reported:

"Unfortunately, the advice of the U.S. government regarding solutions to the crisis is misleading. For Europe and especially for Germany," Mr. Hubbard wrote, according to a translation of his article from the Handelsblatt Web site.

He opposed what he described as the Obama administration's efforts "to persuade Germany to stand up financially weak governments and banks in the euro zone so that the Greek crisis would not spread to other states."

"These recommendations are not only unwise," he added, "they also reveal ignorance of the causes of the crisis and of a growth trend in the future."

Mr. Hubbard proposed a classic conservative pro-austerity, anti-Keynesian approach, arguing that cutting government spending will restore public confidence, encourage growth and avert future tax increases.

"Long-term confidence in solid government financing shores up growth and enables the same scope for short-term transitional assistance," he said. "Mitt Romney, Obama's Republican opponent, understands this very well and advises a gradual fiscal consolidation for the U.S.: structural reform to stimulate growth."

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Paul Krugman is doing the rounds on his book tour (I saw him here in Philadelphia Tuesday night—yeah, I'm a dork, I got him to autograph my copy) and here he is on Democracy Now! to pound the drum for government spending. Oddly enough, Krugman's been accused of supporting austerity cuts, which just isn't true. For an hour, all he did was talk about how the government needed to spend our way out of this.

AMY GOODMAN: Well, for the remainder of the hour, we’re joined now by one of the world’s leading economists, Paul Krugman. He is a Nobel Prize-winning economist, an op-ed columnist for the New York Times, also professor of economics at Princeton University and centenary professor at the London School of Economics. His latest book is End This Depression Now!

Paul Krugman, welcome back to Democracy Now!

PAUL KRUGMAN: Good morning.

AMY GOODMAN: How do we end this depression now?

PAUL KRUGMAN: Spend. I mean, it’s really—it’s actually—the economics is really easy. If we were to spend more money at the government level, and actually, at this point, largely, just rehire the schoolteachers, firefighters, police officers who have been laid off in the last several years because of cutbacks at the state and local level, we would be a long way back towards full employment. Other things to do, we could talk about monetary policy, debt relief for homeowners and students. But the core of it is, right now, there just is not enough spending, and we need the government, which can do it, to step in and provide the demand we need.

AMY GOODMAN: To say the least, you’re going against the accepted dogma on all television among the so-called leaders of our country. Spend? In a time when the government has the debt the size it has?

PAUL KRUGMAN: Right. So you can always say, "Oh, you know, $14 trillion." Everything about the U.S. economy is huge. Investors don’t think it’s a problem. Investors are willing to lend the U.S. government money at 1.8 percent interest. This is not the time. I’ll be all for worrying about the budget deficit once the—once the economy is off the bottom. But it is not off the bottom. We are in a depression. This is the time to spend.

AMY GOODMAN: Where do you get the money?

PAUL KRUGMAN: Borrow it, and then repay it later in better times, which is not at all—that may sound funny, but that’s exactly what we’ve done in the past. That’s exactly—how did we get out of the Great Depression? We got out of it by—actually, we got out of it before World War II, but thanks to the spending that preceded World War II, thanks to the military buildup. A little factoid people may not know, just this morning: Which of the major economies in the advanced world grew fastest in the first quarter of 2012? The surprise answer is Japan. Why is that happening? It’s because Japan is now spending a lot of money reconstructing after the tsunami. And that spending is driving rapid growth in Japan right now. We could all be doing that.

AMY GOODMAN: Let’s go to Mitt Romney for a moment, the presidential candidate’s economic plans and his critique of the Obama White House. This is what he said Wednesday at a campaign stop in Iowa.

MITT ROMNEY: President Obama is an old-school liberal whose first instinct is to see free enterprise as the villain and government as the hero. America counted on President Obama to rescue the economy, to tame the deficit and help create jobs. Instead, he bailed out the public sector, gave billions of your dollars to companies of his friends, and added almost as much debt to this country as all the prior presidents combined. The consequence is that we are now enduring the most tepid recovery in modern history.

AMY GOODMAN: Your response to Mitt Romney, Paul Krugman?

PAUL KRUGMAN: Boy, you know, don’t even know where to start. I mean, Romney’s technique is that—since basically every word he says is a lie, including "a," "and" and "the," you never know where to start. But this is—the idea that the—first of all, that Obama is responsible for the large deficits is just not true. It’s overwhelmingly the result of the Bush tax cuts, unfunded wars and a terrible economic crisis that began, of course, under Bush. The idea that the deficits are what’s holding us back is all wrong. The deficits are in fact what’s keeping us afloat. If we had tried to balance the budget, we would now be in a full, full-on replay of the Great Depression. So it’s all nonsense. It’s—and, by the way, the idea of Obama as somebody who governs from the left, I mean, Obama is—Obama’s positions are those of a moderate Republican circa 1992. It’s not—he’s not a leftist. What’s happening now is you have a radical-right Republic Party.

AMY GOODMAN: Well, let’s talk about the Republicans, to House Speaker John Boehner, recently addressed the Peter G. Peterson Foundation’s 2012 Fiscal Summit.

SPEAKER JOHN BOEHNER: The failure of stimulus, a word people in Washington refuse to say anymore, has sparked a rebellion against overspending, overtaxation and overregulation. Americans who take pride in living on a budget recognize that we can’t go on spending money that we don’t have. And our economy is stuck in large part because it is stuck with debt.

AMY GOODMAN: House Speaker Boehner also advocated making long-term changes to programs such as Social Security.

SPEAKER JOHN BOEHNER: We can eliminate all the unfunded liabilities in Social Security, Medicare and Medicaid tomorrow, and the effect on the congressional budget 10-year window could be minimal. That’s because changes to these programs take time and need to be phased in slowly.

AMY GOODMAN: That’s House Speaker Boehner, who has also just revived the debt ceiling—the debt ceiling threat.

PAUL KRUGMAN: Yeah, so—boy, again, let’s leave aside the long-run budget stuff for the moment, and let’s just talk about—the idea that stimulus failed, it was never tried. Take a look at the actual track of government spending in the United States, and take into account the state and local governments as well as the federal, and what you see is, far from actually having a big increase in spending, we’ve actually had much lower. We’ve had austerity in the face of a recession, in a way that we have never had before since the 1930s. So it’s actually been the reverse.

And look, we’ve just done an experiment with what happens if you cut government spending sharply in the face of a depressed economy. That’s what’s been going on in Europe. It’s been going on in an extreme form. I’ve been saying, actually, we’ve basically had a large-scale human experiment, the kind that is banned under Princeton University rules, going on on the people of Greece, Spain, Portugal and Ireland. And the results are clear: it’s disastrous. It leads to very, very sharp economic contractions. Here, we’re having a minor version, though still terrible, of the Great Depression; there, they’re having a full-on replay of the Great Depression.

AMY GOODMAN: Contrast it with Argentina.

PAUL KRUGMAN: Ah, Argentina is an interesting story, because they broke all the rules. There are two countries that we talk about now, actually, people like me. One is Argentina. Argentina had something that was a little bit like the euro. They had a supposedly permanent commitment: one peso, one dollar. Became impossible, fell apart. There was a period of about six months of economic chaos, following, to be honest, then a rapid recovery. Argentina bounced back strongly because they were competitive again. The weaker peso made them able to export. You know, and they defied all the predictions of ruin.

The other story, which is more contemporary, is Iceland, which, in effect, did the same thing. Iceland, because of—the funny thing is, Iceland, the sheer scale of the financial disaster meant that they could not be orthodox. It was not possible. So they were forced to allow a devaluation, have some temporary controls on capital, repudiate some of the debt their bankers ran up. Iceland has a lower unemployment rate than we do right now. So, those are the stories that we should be looking to as examples that say this does not have to be happening.

AMY GOODMAN: So, right now, President Krugman—and that’s not making a mistake—what do you do starting today?

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I remember when this story first came out, and it really looked as though Spain would carry through on a war crimes prosecution of Bush and his administration officials who authorized torture. So now we know what really happened, thanks to Wikileaks: The Obama adminstration applied pressure to shut it down.

I suppose it's premature to speculate as to motives, but the continuing reports of torture at Bagram and the Obama administration's seeming indifference probably had at least a little to do with it. They wouldn't want to set a precedent that might be used against them:

In its first months in office, the Obama administration sought to protect Bush administration officials facing criminal investigation overseas for their involvement in establishing policies the that governed interrogations of detained terrorist suspects. An April 17, 2009, cable sent from the US embassy in Madrid to the State Department—one of the 251,287 cables obtained by WikiLeaks—details how the Obama administration, working with Republicans, leaned on Spain to derail this potential prosecution.

The previous month, a Spanish human rights group called the Association for the Dignity of Spanish Prisoners had requested that Spain's National Court indict six former Bush officials for, as the cable describes it, "creating a legal framework that allegedly permitted torture." The six were former Attorney General Alberto Gonzales; David Addington, former chief of staff and legal adviser to Vice President Dick Cheney; William Haynes, the Pentagon's former general counsel; Douglas Feith, former undersecretary of defense for policy; Jay Bybee, former head of the Justice Department's Office of Legal Counsel; and John Yoo, a former official in the Office of Legal Counsel. The human rights group contended that Spain had a duty to open an investigation under the nation's "universal jurisdiction" law, which permits its legal system to prosecute overseas human rights crimes involving Spanish citizens and residents. Five Guantanamo detainees, the group maintained, fit that criteria.

Soon after the request was made, the US embassy in Madrid began tracking the matter. On April 1, embassy officials spoke with chief prosecutor Javier Zaragoza, who indicated that he was not pleased to have been handed this case, but he believed that the complaint appeared to be well-documented and he'd have to pursue it. Around that time, the acting deputy chief of the US embassy talked to the chief of staff for Spain's foreign minister and a senior official in the Spanish Ministry of Justice to convey, as the cable says, "that this was a very serious matter for the USG." The two Spaniards "expressed their concern at the case but stressed the independence of the Spanish judiciary."

Two weeks later, Sen. Judd Gregg (R-N.H.) and the embassy's charge d'affaires "raised the issue" with another official at the Ministry of Foreign Affairs. The next day, Zaragoza informed the US embassy that the complaint might not be legally sound. He noted he would ask Cándido Conde-Pumpido, Spain's attorney general, to review whether Spain had jurisdiction.

On April 15, Sen. Mel Martinez (R-Fla.), who'd recently been chairman of the Republican Party, and the US embassy's charge d'affaires met with the acting Spanish foreign minister, Angel Lossada. The Americans, according to this cable, "underscored that the prosecutions would not be understood or accepted in the US and would have an enormous impact on the bilateral relationship" between Spain and the United States. Here was a former head of the GOP and a representative of a new Democratic administration (headed by a president who had decried the Bush-Cheney administration's use of torture) jointly applying pressure on Spain to kill the investigation of the former Bush officials. Lossada replied that the independence of the Spanish judiciary had to be respected, but he added that the government would send a message to the attorney general that it did not favor prosecuting this case.

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Oracle Paul the Psychic Octopus predicts a win for Spain. However, having been in Amsterdam during Holland's amazing win over Brazil last week, I'll be going against cephalopod wisdom and rooting for the Big Orange.

Mother Jones: Not even Bork was treated like this

Scott Horton: Arrest of 13 CIA agents sought in Spain

pandagon: Sneering Creationists

Booman Tribune: GOP votes against protecting home buyers

They gave us a republic: Nightowl Newswrap

Esquire: Responding to the attack on Roger Ebert

In some countries, they apparently take this sort of thing seriously:

In a ruling in Madrid today, Judge Baltasar Garzón has announced that an inquiry into the Bush administration’s torture policy makers now will proceed into a formal criminal investigation. The ruling came as a jolt following the recommendation of Spanish Attorney General Cándido Conde-Pumpido against proceeding with a criminal inquiry, reported in The Daily Beast on April 16.

Judge Garzón previously initiated and handled investigations involving Chilean dictator Augusto Pinochet, Argentine “Dirty War” strategist Adolfo Scilingo and Guatemalan strongman José Efraín Ríos-Montt, often over the objections of the Spanish attorney general. His case against Pinochet gained international attention when the Chilean general was apprehended in England on a Spanish arrest warrant. Scilingo was extradited to Spain and is now serving a sentence of 30 years for his role in the torture and murder of some thirty persons, several of whom were Spanish citizens.

Garzón's ruling today marks a decision to begin a formal criminal inquiry into the allegations of torture and inhumane treatment he has been collecting for several years now.

Now, Garzón has announced a preliminary criminal inquiry into the Bush administration torture policy, specifying the evidence that a crime had been perpetrated against Spanish subjects, but not yet specifying the specific targets of the investigation. Judge Garzón’s decision revealed a deep engagement with documents which had been released in Washington in the last two weeks, particularly a group of memoranda prepared by lawyers in the Bush Justice Department’s Office of Legal Counsel (OLC) a report of the Senate Armed Services Committee and a memo released by the Senate Intelligence Committee, making it likely that he would focus on the authors of the torture memoranda and other lawyers who worked with them.