Austerity Pushes Europe Into Its Second Recession In Four Years

[Lakhota]

By Travis Waldron

Continuing efforts to cut spending and reduce deficits have driven the Eurozone into its second recession in just four years, as its economy shrank for the second consecutive quarter. Struggling countries like Spain, Greece, Portugal, and Ireland are still pursuing deficit reduction to rein in their debt, cutting spending to the bone to do so. The spending cuts have driven unemployment to record levels and threatened the continent with a recession that became official during the last quarter, Bloomberg reports:

The euro-area economy was pushed into a recession for the second time in four years as trade slowed and government spending declined.

Gross domestic product in the 17-nation currency bloc slipped 0.1 percent in the third quarter from the previous three months, when it fell 0.2 percent, the European Union’s statistics office in Luxembourg said today, confirming an initial estimate published on Nov. 15.​

Eurozone unemployment reached 26 percent in September. The youth unemployment rate has topped 50 percent and resulted in a “lost generation” for the continent’s young adults. Still, the pursuit of austerity continues.

Austerity Pushes Europe Into Its Second Recession In Four Years | ThinkProgress

 

[Lakhota]

Lawmakers around the world have ignored the European lesson, though. Australia’s growth slowed last quarter as its government pursued deficit reduction, and in the United States, the so-called “fiscal cliff” brought on by Republican-demanded spending cuts is threatening the country with a bigger austerity package than those that have been implemented in Europe, even with ample proof that the U.S.’s original preference toward stimulus was more effective than the austere European approach.

From the OP link.

 

[Lakhota]

Now is the WRONG time to be pushing austerity measures here in U.S.! It ain't rocket science...

 

[eflatminor]

Clearly, we just don't spend enough money...money we don't have.

 

[Oddball]

Now is the WRONG time to be pushing austerity measures here in U.S.! It ain't rocket science...

You don't know pop gun science, Krazy Kat.

 

[Lakhota]

Clearly, we just don't spend enough money...money we don't have.

In the recovering Great Bush Recession - you are exactly right. We need to spend more and hire more. Now's not the time to be worried about debt.

 

[eflatminor]

Clearly, we just don't spend enough money...money we don't have.

In the recovering Great Bush Recession - you are exactly right. We need to spend more and hire more. Now's not the time to be worried about debt.

Tell you what...why don't YOU spend more and hire more?

I realize your collectivist mentality won't allow you to see the truth, that all this spending and meddling, from both parties, is the real cause of exacerbating and prolonging the recession. No, that would mean you couldn't continue to demand other people's money. Can't have that, can we?

 

[Lakhota]

Clearly, we just don't spend enough money...money we don't have.

In the recovering Great Bush Recession - you are exactly right. We need to spend more and hire more. Now's not the time to be worried about debt.

Tell you what...why don't YOU spend more and hire more?

I realize your collectivist mentality won't allow you to see the truth, that all this spending and meddling, from both parties, is the real cause of exacerbating and prolonging the recession. No, that would mean you couldn't continue to demand other people's money. Can't have that, can we?

That's just crazy teabagger mentality. Europe is proving what many of us learned in economics - and from the history of the Great Depression.

 

[eflatminor]

In the recovering Great Bush Recession - you are exactly right. We need to spend more and hire more. Now's not the time to be worried about debt.

Tell you what...why don't YOU spend more and hire more?

I realize your collectivist mentality won't allow you to see the truth, that all this spending and meddling, from both parties, is the real cause of exacerbating and prolonging the recession. No, that would mean you couldn't continue to demand other people's money. Can't have that, can we?

That's just crazy teabagger mentality. Europe is proving what many of us learned in economics - and from the history of the Great Depression.

What's the matter? Not willing to put YOUR money where you mouth is?

That your willing to allow those yet to be born to bear the burden of your largess is very telling...and rather disgusting.

Lastly, until you're willing to look at the history of economics outside of the progressive/Keynesian mindset, there is really no point in attempting to educate you. Needless to say, you have much to learn. Good luck with all that.

 

[Oddball]

In the recovering Great Bush Recession - you are exactly right. We need to spend more and hire more. Now's not the time to be worried about debt.

Tell you what...why don't YOU spend more and hire more?

I realize your collectivist mentality won't allow you to see the truth, that all this spending and meddling, from both parties, is the real cause of exacerbating and prolonging the recession. No, that would mean you couldn't continue to demand other people's money. Can't have that, can we?

That's just crazy teabagger mentality. Europe is proving what many of us learned in economics - and from the history of the Great Depression.

Yeah....Gubmint that spends more than it has ends up crashing economies.

Too bad puerile frootloops like you haven't got the memo yet.

 

[Lakhota]

You're too dumb and weird to even respond to.

 

[eflatminor]

You're too dumb and weird to even respond to.

An ad hominem deflection...

Nice double there master debater!

 

[Oddball]

You're too dumb and weird to even respond to.

And you haven't the good sense that the stupidest of people has to come in out of the rain.

 

[blackhawk]

Yes continuing to go deeper and deeper into debt is the way to solve a debt problem I would love to see someone who subscribes to this theory tell a debt collector your going to pay them back by going even deeper into debt and lets know how that worked out.

 

[DiamondDave]

Stink Progress... to be believed like a textbook or the Bible..

 

[Paulie]

Any solution is going to have pain. How quick do you want to get the pain over with?

 

[Oddball]

Any solution is going to have pain. How quick do you want to get the pain over with?

Spamahontas wants to just keep banging up the welfare state smack and pretend that everything, including the pain, can be put off until the OD....Then there's still no pain because you're dead.

 

[eflatminor]

Spamahontas...

 

[Paulie]

Any solution is going to have pain. How quick do you want to get the pain over with?

Spamahontas wants to just keep banging up the welfare state smack and pretend that everything, including the pain, can be put off until the OD....Then there's still no pain because you're dead.

That's what it is pretty much. I've had people tell me straight to my face as long as they get through their life comfortably, kick the fucking can as far as possible.

I say what about your kids, and no shit they say that won't be my problem anymore.

 

[Lakhota]

Any solution is going to have pain. How quick do you want to get the pain over with?

The debt was gradual. The pain needs to be gradual. A prolonged dull headache is better than a heart attack.