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Fascism doesn’t just appear out of nowhere, like some virulent meme. Fascism is what the capitalist class falls back on when liberal democracy starts to fail them. Fascism is when the capitalist class goes mask off. That’s what Lenin meant by “fascism is capitalism in decay.”
The Eurozone lacks a central bank to do what most central banks are supposed to do: finance government deficits. To make matters worse, the Lisbon Agreement limits these deficits to 3% – too small to pull economies out of depression by offsetting private-sector debt deflation.
Fascism doesn’t just appear out of nowhere, like some virulent meme. Fascism is what the capitalist class falls back on when liberal democracy starts to fail them. Fascism is when the capitalist class goes mask off. That’s what Lenin meant by “fascism is capitalism in decay.”
The neoliberalism that was baked into the Eurozone from its inception made this fascist turn almost inevitable. Michael Hudson: Financial Predators v. Labor, Industry and Democracy