The Political Reprecaussions of the Bailouts

Today was the German and Portugese general elections and also the first real test of the Recession and especially the bailouts. In Germany a fiscal Conservative Angela Merkel defeated her Social Democratic rival. In Portugal the governing Socialists won the general election, but lost their majority. What is the meaning of these two elections? Well in Japan the people threw out fifty years of one party rule, and installed more of a left leaning party, why?

Lets start in Japan, the governing party for one assumed they would be in power forever, second they threw billions in bailout money and the companies receiving that money failed anyways and laid off tens of thousands. The party also assumed most people would blame the recession instead of the party and went along as if nothing happened. Then halfway through the campaign the polls showed the people had lost faith, not only in the party but also the system, and the way things were being run. The result a lanslide for the opposition SDP, the LDP had suffered a humiliating defeat, and fifty years of one party rule ended.

In Portugal the governing socialists lost their majority. Why? because they had been involved in bailing out foreign companies, and the job losses continued. The only reason the Socialists stayed in power was because they instituted social reforms that has changed the country. Portugal before the Socialists was one of the poorest nations in Europe. The election was a strong message to socialists everywhere, socialism for the poor not for the banks and the corporations.

In Germany Angela Merkel took the Social Democrats to town. why? because unlike others she didn't give into the pro bailout movement sweeping around the world. No Merkel stuck to her fiscal Conservative principles and didn't give Opel or any other company billions in big business Socialism. Although she's ultra Conservative I can say she deserved to win, oh and the opposition SDP was in her government, so they really couldn't say much. In fact the so called Socialists in Germany were in favour of the bailouts, foolishly following Obama, Brown and others.

So what have these three examples taught us, well for one Communists and far right parties had their best results since the second World War. Second the bailout and the recession played a major factor and in all three examples history repeated itself. In the deepest part of the depression the United States overthrew a President that didn't give money to failing companies, Germany saw gains by both Communism, the Nazi and other fringe parties and strong politicians ruled the day. Makes you think doesn't it? Thanks for reading

Later all.