How Austerity Is Ushering in a Global Recession

Not only is the United States slouching toward a double-dip, but so is Europe. New data out Tuesday show even Europe’s strongest core economies — Germany, France, and the Netherlands — slowing to a crawl.

We’re on the cusp of a global recession.

Policymakers be warned: Austerity is the wrong medicine.

We all know about the weaknesses in Europe’s “periphery” — Greece, Ireland, Spain, Portugal, and Italy. But the drop in Europe’s core is dizzying.

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