Jerry Harvey, a 4th generation southern Iowa dairy farmer described the recent plight of America's dairy farmers, who have experienced a record crisis this past year as prices have dropped more than 50% at times from 2008 levels, stranding farmers with thousands of dollars of debt to carry each month for more than a year.
But austerity has also evolved into a muse for Irish artists, who are both recording the crisis and finding opportunity in the wreckage left by a spree of reckless real-estate lending and toxic debts.
I forget who brought up the famous iPhone/Android hidden recording file crisis, but things quickly got out of hand when one of us suggested that was a feature not a problem.
They're as do-it-yourself as it gets, but they're not out of nowhere: you can draw a pretty straight line from Thelonious Monk to Roswell Rudd and Steve Lacy's early-'60s band, through the more traditional edge of New York's loft-jazz scene in the 1970s (Frank Lowe and Billy Bang records come near it), to No More Shapes' first record, "Creesus Crisis" (Drip Audio).
President Miloš Zeman and prime minister Bohuslav Sobotka were once allies but their relationship soured amid Europe's record migrant crisis, with Zeman staunchly opposing the influx.
The inability to do that is what lies behind the government's sorry record on crisis management during the Kobe earthquake two years ago, the costly oil spill in the Sea of Japan this year and the hostage crisis in Peru.Such measures would improve government and increase the ruling party's influence.
This is Mr Greenspan's attempt to set the record straight.The crisis, he argues, stemmed from a "classic euphoric bubble" whose roots lay in the sharp global decline in nominal and real long-term interest rates in the early part of the 2000s, which fuelled an unsustainable boom in house prices.
Not just on their record of crisis management – which has obviously been woeful – but also in how northern European governments have rounded on southern nations in distress, forcefeeding them harmful diets of economic austerity and blithely exposing them to violent social turbulence while preaching that this is the way all responsible, adult countries behave.
FOR THE RECORD: Border crisis: In the July 31 Section A, a photo caption accompanying an article about..
One of the earliest recorded economic crises in the Western world came in Athens in the 5th century B.C. Fortunately, Athens was then led by the great Pericles, an early Keynesian who did not respond by slashing budgets.
