April 24, 2012 – As strict austerity measures take root across Europe, some wonder whether the cuts will harm more than they help.
Category: Economy, Really, really bad calls, Video
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Nothing “works” in that you can recover endless growth rates once you reach extreme levels of indebtedness.
Inflating out doesn’t work any better than austerity does.
The key is to lower your debt to gdp ratio over time which means higher gdp in the absence of more debt. But when debt is the reason for much of yur gdp – asit is here – you are stuck with the heroine until the patient collapses.
So by all means spend Trillions we do not have and expect the Fed to print them and when it all goes to shit look at a historical spending vs. revenue chart and be adult enough to realize that there are limits to everything in this reality.
mayor,
180 years and a few months after
Andrew Jackson vetoed
Biddles US bank
the poor, uneducated, over worked, under resourced
have no recourse
it has been the elites’ supply side so long
that has not worked out
the people always pay the wages of the elites
what was the bubble but a
massive inflation of few asset groups
underwritten by an open printer central banks
then if you deny inflation
give the assets to the bond holders and
let them foreclose and move on?
austerity is euro zone version of “kill the new deal”
on the trodden backs of the mass
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Thanks MQ & ilsm – I agree thats the situation . I wonder when the inflated info stuff hits
the saturation threshold that will be the top – words don’t matter – why bother w/www