A Total Collapse Of The American Economy*

[TakeAStepBack]

is that what you see? no reality either...

no bias there, hon.

The only thing in favor of your mathematics are those Countries that are faring so badly, in comparison, we look good. Your whole campaign was rooted in smear and false perception, Jillian. You fooled enough idiots to continue down this destructive path. Evidently, we have not suffered enough. Regardless, you own it. Make no mistake there. There is no substitute for "Value for Value". There is no substitute for "Virtue". You create a Culture of Dependency, another Generation, and they won't be able to wipe their asses, without help, be proud. For those who weren't fooled, by the free stuff, and the hype, Our Allegiance is still to doing the right thing, because it is the right thing to do. In that we take comfort. We mourn the stupidity of the Sell Outs, on both sides of the Aisle. Nothing is Free Jillian. Somebody always pays the price.

let me know where in your calculations you have proof that austerity works. near as i can tell austerity shrinks employment which shrinks income to the municipalities... which makes it harder to pay bills.

You don't even know what Austerity means, obviously. Here let me help you out since you're probably really pressed for time on how it works.

aus·tere (ô-stîr)
adj. aus·ter·er, aus·ter·est
1. Severe or stern in disposition or appearance; somber and grave: the austere figure of a Puritan minister.
2. Strict or severe in discipline; ascetic: a desert nomad's austere life. See Synonyms at severe.
3. Having no adornment or ornamentation; bare: an austere style.

austere - definition of austere by the Free Online Dictionary, Thesaurus and Encyclopedia.


In economics, this would translate to cutting budgets to the point where revenue exceeded outlays (should I fill you in on the definitions of these two terms?). Not in the EU, and not here has any country been put through Austerity. Not even in Greece. They are spending more than they are taking in even after their entire govt. driven economy hit the botom of the shitter.

Now, you can read (right? Presumably right..), so read this adn get back to me.

The Myth of Austerity - Philipp Bagus - Mises Daily

Many politicians and commentators such as Paul Krugman claim that Europe's problem is austerity, i.e., there is insufficient government spending. The common argument goes like this: Due to a reduction of government spending, there is insufficient demand in the economy leading to unemployment. The unemployment makes things even worse as aggregate demand falls even more, causing a fall in government revenues and an increase in government deficits. European governments pressured by Germany (which did not learn from the supposedly fateful policies of Chancellor Heinrich Brüning) then reduce government spending even further, lowering demand by laying off public employees and cutting back on government transfers. This reduces demand even more in a never ending downward spiral of misery. What can be done to break out of the spiral? The answer given by commentators is simply to end austerity, boost government spending and aggregate demand. Paul Krugman even argues in favor for a preparation against an alien invasion, which would induce government to spend more. So the story goes. But is it true?

First of all, is there really austerity in the eurozone? One would think that a person is austere when she saves, i.e., if she spends less than she earns. Well, there exists not one country in the eurozone that is austere. They all spend more than they receive in revenues.

In fact, government deficits are extremely high, at unsustainable levels, as can been seen in the following chart that portrays government deficits in percentage of GDP. Note that the figures for 2012 are what governments wish for.

The rest at the link above.