Avoiding The “D” Word: Depression

Spain currently has an unemployment rate of about 25%- the same figure cited for U.S. unemployment during the Great Depression of the 1930s. Greece's is 21%. In both nations, unemployment among young adults is over 50%. (In fact, Greece has been in “recession” for 3 years now. And here's a euphemism you'll like, from the business pages and mouths of “economists,” those combination soothsayers-cheerleaders: “negative growth.” That means a shrinking economy. They won't even say the word “shrink”!) To add injury to injury, Spain now has a whopping sales tax of 18%, with more increases in the works.

Portugal has 15% unemployment in the second year of economic shrinkage there. They've gutted labor laws to allow employers to fire freely- so there goes that excuse for “structural unemployment,” the old “rigid labor markets” dodge. And for good measure, rent control was abolished, thus striking a blow for what capitalist ideology calls “Freedom,” in this case the Freedom to Gouge for landlords. Ah, Freedom! Breathe in its sweet air!

Ireland also has 15% unemployment, nicely book-ended numerically by a 15% cut in middle class wages. And of course social safety net programs have been savagely slashed, as in all these cases. To top it off, Ireland now has an exorbitant 23% sales tax, on top of numerous onerous taxes on everything else. Why? Because a traitorous regime took on the private debt of some stupid bankers and made it a public obligation. That is, they yoked the Irish people like some dumb oxen to pay off the burden. This nightmare has been going on since 2008 and no end is in sight (although specious promises of an end are periodically made by the rulers, but like a rainbow it always stays ahead off in the distance).

Given the very high unemployment rates in these countries, why aren't we reading and hearing about depressions in these countries in the capitalist media?

Well, that's easy. Obviously because they want to put the best face on things. In other words, we're in the realm of propaganda, not journalism. It's not “objective” to hide reality.