Austerity gave us Bolsonaro. Dilma foolishly listened IMF et al and cut spending and subsidies. Cost push inflation caused the central bank to push rates to the nose bleed levels. The result was a downturn in Brazil from 2015-17 worse than great depression. Way to go economists!
— Mike Fellman (@MikeFellman) October 29, 2018
Austerity also gave us Brexit. No, it wasn’t racism. That’s just the convenient excuse and another symptom.