Incredible Populist Positions in Podemos' "Economic Manifesto"; Populism Explained

Mike Shedlock is aghast at the Incredible Populist Positions in Podemos' "Economic Manifesto"; Populism Explained.

If Spain abandons the euro and adopts anything close to this platform, expect a complete collapse in the Spanish economy.

These populist ideas are taking hold for the simple reason the burden of the euro crisis is falling on the average worker, while the banks, the bankers, and the political classes were bailed out.

It should be no wonder that with each passing day, radical left and radical right parties attract voters.

Eventually, there is going to be a revolt in Spain, Greece, or Italy. Podemos is a strong candidate to lead the opening salvo.

Emphasis Mine

That radicalisation is occurring is undisputed. Even Shedlock argues for the burden to fall upon the well-to-do.

But this will not happen without a strong movement based in the working class. A right-wing radicalisation would only serve to secure the status quo.