Self-Defeating Turn to Austerity

Read it and weep. From Progressive Economics Forum:

In line with a major shift in thinking at the OECD and the IMF on the most appropriate timing for “exit strategies” from fiscal stimulus, the G20 finance ministers dropped the usual call for continued stimulus through 2010 from their June 5 communique, and highlighted the need for more or less immediate fiscal consolidation. God knows what lies in store for us in Toronto.

Yes, it's worth spending over ONE BILLION DOLLARS to have this gang of shit-heads decide to blunder their way to another mega-crisis.