Ever notice how only the weak and the powerless, the most marginalized of people, are the ones with the ability to wreck an entire nation’s or even the world’s economy? Listen to the right-wingers in this country, for example, and you’ll learn that the global – let me repeat that, the global – financial meltdown was caused by a bunch of poor black and brown people buying homes they couldn’t afford. These people were just too much for the harried, powerless gazillionaires working on Wall Street, who were outmatched and overwhelmed by the might of this great, dusky-hued horde, and now look where we are. It’s just too bad that rich white people don’t have any real power in the United States.
Krugman has a depressing (ha!) column today titled “Depression and Democracy” that indicates a similar kind of blame game may be shaping up in those European countries hardest hit by the economic crisis. In it he describes how Europe’s increasing demand for greater and greater economic austerity policies has coincided with the rise of right-wing, anti-democracy populist parties:
Right-wing populists are on the rise from Austria, where the Freedom Party (whose leader used to have Neo-Nazi connections) runs neck-and-neck in the polls with established parties, to Finland, where the anti-immigrant True Finns party had a strong electoral showing last April. . . . Matters look even more ominous in the poorer countries of Central and Eastern Europe.
Last month the European Bank for Reconstruction and Development documented a sharp drop in public support for democracy in the “new E.U.” countries, the nations that joined the European Union after the fall of the Berlin Wall. Not surprisingly, the loss of faith in democracy has been greatest in the countries that suffered the deepest economic slumps.
[snip]
One of Hungary’s major parties, Jobbik, is a nightmare out of the 1930s; it's anti-Roma (gypsies), it’s anti-Semitic, and it even has a paramilitary arm.

