Suddenly, creating jobs is out, inflicting pain is in. Condemning deficits and refusing to help a still-struggling economy has become the new fashion everywhere, including the United States, where 52 senators voted against extending aid to the unemployed despite the highest rate of long-term joblessness since the 1930s.

Many economists, myself included, regard this turn to austerity as a huge mistake. It raises memories of 1937, when F.D.R.’s premature attempt to balance the budget helped plunge a recovering economy back into severe recession. And here in Germany, a few scholars see parallels to the policies of Heinrich Brüning, the chancellor from 1930 to 1932, whose devotion to financial orthodoxy ended up sealing the doom of the Weimar Republic.

But despite these warnings, the deficit hawks are prevailing in most places - and nowhere more than here, where the government has pledged 80 billion euros, almost $100 billion, in tax increases and spending cuts even though the economy continues to operate far below capacity.

What’s the economic logic behind the government’s moves? The answer, as far as I can tell, is that there isn’t any. Press German officials to explain why they need to impose austerity on a depressed economy, and you get rationales […]

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Friday marked the 60th day since the Deepwater Horizon rig began hemorrhaging oil into the Gulf of Mexico, and the topic took up much of our fact-checking efforts this week.

Here’s a summary of our latest fact-checks on statements made about the oil spill. You can read all of our fact-checks on the Gulf of Mexico oil spill on our oil spill page.

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Does a company that both builds oil rigs and cleans up oil spills have any motivation to prevent oil rig disasters?

That’s the question some people in business and politics are asking themselves after Halliburton’s purchase of an oil clean-up company 10 days before the Deepwater Horizon explosion that killed 11 workers and launched the worst oil spill in US history.

Some observers see a conspiracy in the actions of the company once headed by Dick Cheney. Halliburton, which built the cement casing for the Deepwater Horizon’s drill, announced its purchase of Houston-based oilfield services company Boots and Coots for $240 million on April 9, just 11 days before the Deepwater Horizon explosion.

According to a report at the Christian Science Monitor Friday, Boots and Coots is now under contract with BP to help with the oil spill. The company ‘focuses on oil spill prevention and blowout response,’ CSM reports. Halliburton’s purchase is not yet a done deal — it’s still awaiting regulatory approval, though few observers think the purchase won’t pass muster.

‘[Mergers and acquisitions] in the industrial and oil services sectors is totally normal,’ writes David Anderson at The Inspired Economist, ‘but the timing in this case, is not. Boots & Coots […]

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WASHINGTON — The nuclear industry could end up facing no risk under massive tax break subsidies in the Kerry-Lieberman climate bill, according to an important new analysis conducted for Friends of the Earth by the research organization Earth Track. These tax breaks totaling $9.7 billion to $57.3 billion (depending on the type and number of reactors) would come on top of the Kerry-Lieberman measure’s lucrative $35.5 billion addition to the more than $22.5 billion in loan guarantees already slated for nuclear power.

Friends of the Earth President Erich Pica said: ‘Doling out an additional $1.3-$3 billion in tax breaks per new reactor means the industry would be at the table playing almost entirely with taxpayer money. Industry will have little to lose when a reactor goes belly up. While taxpayers are bankrolling the industry’s nuclear gamble they would share in none of the reactor’s financial returns. In fact, all taxpayers will receive if the reactors are built is responsibility for disposing of the waste. By contrast, investors stand to make billions with no risk should their reactor gambit goes belly up and enter bankruptcy.’

Earth Track Founder Doug Koplow said: ‘These substantial tax breaks for new reactors […]

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Everything that the human race has done and thought is concerned with the satisfaction of felt needs and the assuagement of pain. One has to keep this constantly in mind if one wishes to understand spiritual movements and their development. Feeling and desire are the motive forces behind all human endeavour and human creation, in however exalted a guise the latter may present itself to us. Now what are the feelings and needs that have led men to religious thought and belief in the widest sense of the words? A little consideration will suffice to show us that the most varying emotions preside over the birth of religious thought and experience. With primitive man it is above all fear that evokes religious notions-fear of hunger, wild beasts, sickness, death. Since at this stage of existence understanding of causal connexions is usually poorly developed, the human mind creates for itself more or less analogous beings on whose wills and actions these fearful happenings depend. One’s object now is to secure the favour of these beings by carrying out actions and offering sacrifices which, according to the tradition handed down from generation to generation, propitiate them or make them well disposed towards […]

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