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.

3 Responses to “Questioning Austerity”

  1. MayorQuimby says:

    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.

  2. ilsm says:

    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

  3. Greg0658 says:

    1234567890223456789032345678904234567890523456789062345678907234567890 X2
    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