The world economic scenario is looking gloomy with a number of countries on the verge of default in their commitment from Europe to US. We have to look back and see where actually the failure of the governance of different countries occurred, in making policy decisions affecting their populace.
The main cause is greed of the corporate honchos who made money at the cost of the poorest of their respective countries. Most glaring examples are from the famous American wealthiest legend who once announced to a question, what amount will make you happy while amassing wealth? His ready made answer was always one dollar more. This is the attitude of the rich and famous, who is never satisfied with their profits and will go all out with more and more power to make more wealth always, by hook or crook and at all such occasions the most ill effected will always be the poor and most vulnerable. The government dance to their tunes because the money for fighting costly elections come from their kitty and naturally once elected to power, they would make policies in helping those very guys more richer,giving them tax holidays and bail outs and earning revenue mostly out of the working class, who are already over taxed and lesser paid.
This has been the curse of most of the countries following open markets ,democratic and capitalistic policies. The other side of the story always is that the very rich guys who are mostly self made and due to their miserly habits, forgets to learn that their children invariably in majority, will be the worst spendthrifts as they never had to make money in the hard way and has been given wealth in gold plates by their fathers.The same American legend who was sitting in a common bar drinking a commoners' drink while his son was seen sitting in an executive bar in a different floor and his fathers drink was costing only hundreds of dollars and his son's drinks were costing thousands of dollars, for this too the wise mans' answer was simple. I am the son of a Mine laborer, while my son has a father who is one of the richest man on earth.In almost 99 percent of such families the money will be spent out by the sons and daughters of such miserly rich people and by the time the third generation grows up they are normally back to square one, and the saga continues again for the next cycle.
Now coming back to the so called austerity measures imposed ,is in fact only for the working class and that is where the problem lies. You have so many rich guys hanging around and are being bailed out and under taxed helping them double their profits, while it is the working class always burdened more and more to make up for the loss of those reckless and greedy rich guys.
This is grossly unfair and the people are more and more aware of these games in this era of mass communication, which can spread the word and get the message across in seconds throughout the world, the all out protests seen around the globe is the frustration of the already stressed people , who don't have any thing more to lose and are ready for a fight or face death with dignity.
Unless the governments of each effected countries sees and understand the reasons and try to do some hard repairs to their respective economies, at the cost of the people who can afford to bail out the common man, but is being shielded by their own governments is most sad affair and the biggest irony.
It will be chaos and disasters if they are naive to these hard truths, which can not be ignored for any longer for the protests is getting to be world wide and the world wide web will ensure that it is world wide in every sense and the rich will not have places to hide in the whole world before long and the governments who are so cruel and insensitive to their own people,will perish before long.