Austerity for 99%, bonuses for billionaires

Two new IMF reports argue that austerity policies aimed at lowering the living standards of the working class must be intensified, even as governments continue to hand out hundreds of billions of dollars to the banks: here.

Under pressure from the European Union and the international financial markets, Spain is sliding into a downward spiral of austerity and recession: here.

However, there is resistance against those disastrous policies. And sometimes, that resistance wins:

Indonesian government retreats from immediate fuel price rise

By John Roberts

19 April 2012

A partial backdown by the Indonesian government over fuel price hikes has opened rifts in the political establishment in Jakarta and brought sharp condemnation in the international financial media. The planned increases, which were due to come into force on April 1, had provoked widespread popular protests.

The parliament agreed on March 31 to delay any rise until the Indonesian Crude Price exceeds the government’s budget benchmark of $US105 a barrel by 15 percent.

This video is called Gas Price Demonstrations in Jakarta, Indonesia.