For the American right and the European bankers, austerity is not a problem. On the contrary, it is the policy objective.
A feature, not a bug! Paul Krugman is constantly denouncing their stupidity, but I don’t think they’re being stupid.
Working CEOs want more demand, but finance capital is afraid of it, I think. Mass poverty increases their power over society and forestalls the risk that inflation might someday, somehow erode their asset values to some negligible degree.
I do think Kramer is being stupid to try to get working CEOs to help him flack, but that’s not a surprise, is it?