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Do you know what got them into their Economic Crisis in the first place?
It certainly was not austerity!
Greece News - Breaking World Greece News - The New York Times
French president François Hollande has bowed to massive pressure for business tax cuts to pull Frances economy out of slump and stave off industrial decline, ditching a core element of his socialist platform.
Francois-Hollande-lurches-Right-in-historic-U-Turn-to-save-French-economy.html
Critics call it the most humiliating U-turn in French politics since François Mitterrand abandoned his disastrous experiment of "Socialism in one country" under a D-Mark currency peg in 1983.
All of Europe made three big mistakes causing their Economic Crisis.
Our President is taking us forward to an even greater Economic Crisis.
The Democrats have no idea that the President continues to pursue an economic policy that has never worked. Europe is a perfect example of how this Economic Theory fails.
Do you even know what the name of this failed Economic Theory is?
You are living proof of just how bad our Public Education System has become.
The main reason for economic problems in Europe is the world wide recession, not EU economic policies.
The real reason is European Socialism continued to tax, spend and borrow ( Keynesian Economics ) which served to make the recession worse by increasing their National Debts.
Nanny states appear to be good until they run out of money.
So, you believe austerity is working?? Any proof?? Links??Only in the deranged liberal mind....
Excessive uncontrolled spending and entitlements create massive debt, drag the economy down and practically bankrupt a country, they use austerity measures to try to get things under control and it's the austerity measures that are the problem.
Liberalism is a grave mental disorder.
So, there has been a lot of talks about the austerity programs being pushed on european countries. Lots of blame being placed on the countries where austerity is in place, from all sorts of folks. Austerity is, in general, a forced program of free market policies with the primary plan being the reduction of debt by elimination of government spending. The stated projected outcome is that debt will be reduced, GDP will grow, and employment will be increased.
I have been waiting to determine what the outcome is likely to be. My want is that it would be most likely that Austerity would be a disaster. But I felt I owed it a look before mouthing off about the absurdity of the whole thing. And in my opinion, my opinion is of little value until there is some proof of the likely outcome. So, I kept watching, and after a year or two, I think the verdict is close to in. Increasingly. impartial sources close to the subject have become more and more and more pessimistic. And we are close to a time when it will be the decesion of most, by a wide margin, that austerity has failed, or is failing, in pretty much every country where it has been instituted.
Here is an article out of the UK that is very representative of what is being said:
We should be interested. Austerity has some major similarities to our own fiscal cliff issues. We should be interested. European austerity is the model for neo conservative policies. Looking at how things are going, from a realistic point of view, should be useful.Democracy in Europe has not been suspended, and the collision course is more apparent than ever. "Stop the world, we want to get off!" was The Wall Street Journal's verdict on the mounting European anti-austerity backlash. The truth is that the real world has paid the high priests of austerity an unwelcome visit. Their policies have sucked growth out of the economy, failed to tackle debt, dramatically increased unemployment, and devastated living standards. It would be utterly baffling if people did not fight back.
No wonder Greece is at the forefront of the backlash. A modern European society is being dismembered by austerity. The economy has shrunk by nearly a fifth, and the country's debt continues to mount. Over half of young people are without work; the minimum wage has been slashed to desperately low levels; and wages have fallen by a third since 2009. Then there's the ultimate indicator of despair: the number of people taking their own lives. Greece had one of the lowest suicide rates in the world, but experts suggest it may have doubled since the crisis began. Austerity is literally killing people.
Owen Jones: This austerity backlash across Europe could transform Britain - Commentators - Voices - The Independent
So why would any increase in govt spending and it's subsequent tax increases lead to anything positive???
Do you know what got them into their Economic Crisis in the first place?
It certainly was not austerity!
Greece News - Breaking World Greece News - The New York Times
French president François Hollande has bowed to massive pressure for business tax cuts to pull Frances economy out of slump and stave off industrial decline, ditching a core element of his socialist platform.
Francois-Hollande-lurches-Right-in-historic-U-Turn-to-save-French-economy.html
Critics call it the most humiliating U-turn in French politics since François Mitterrand abandoned his disastrous experiment of "Socialism in one country" under a D-Mark currency peg in 1983.
All of Europe made three big mistakes causing their Economic Crisis.
Our President is taking us forward to an even greater Economic Crisis.
The Democrats have no idea that the President continues to pursue an economic policy that has never worked. Europe is a perfect example of how this Economic Theory fails.
Do you even know what the name of this failed Economic Theory is?
You are living proof of just how bad our Public Education System has become.
The main reason for economic problems in Europe is the world wide recession, not EU economic policies.
The real reason is European Socialism continued to tax, spend and borrow ( Keynesian Economics ) which served to make the recession worse by increasing their National Debts.
Nanny states appear to be good until they run out of money.
The main reason for economic problems in Europe is the world wide recession, not EU economic policies.
The real reason is European Socialism continued to tax, spend and borrow ( Keynesian Economics ) which served to make the recession worse by increasing their National Debts.
Nanny states appear to be good until they run out of money.
You would like to believe this, but it isn't true. Have you lived and worked in Europe? I have, and what you say simply is not true: it's what you want to believe.
The main reason for economic problems in Europe is the world wide recession, not EU economic policies.
The real reason is European Socialism continued to tax, spend and borrow ( Keynesian Economics ) which served to make the recession worse by increasing their National Debts.
Nanny states appear to be good until they run out of money.
You would like to believe this, but it isn't true. Have you lived and worked in Europe? I have, and what you say simply is not true: it's what you want to believe.
Do you know what got them into their Economic Crisis in the first place?
It certainly was not austerity!
Greece News - Breaking World Greece News - The New York Times
French president François Hollande has bowed to massive pressure for business tax cuts to pull France’s economy out of slump and stave off industrial decline, ditching a core element of his socialist platform.
Francois-Hollande-lurches-Right-in-historic-U-Turn-to-save-French-economy.html
Critics call it the most humiliating U-turn in French politics since François Mitterrand abandoned his disastrous experiment of "Socialism in one country" under a D-Mark currency peg in 1983.
All of Europe made three big mistakes causing their Economic Crisis.
Our President is taking us forward to an even greater Economic Crisis.
The Democrats have no idea that the President continues to pursue an economic policy that has never worked. Europe is a perfect example of how this Economic Theory fails.
Do you even know what the name of this failed Economic Theory is?
You are living proof of just how bad our Public Education System has become.
The main reason for economic problems in Europe is the world wide recession, not EU economic policies.
The real reason is European Socialism continued to tax, spend and borrow ( Keynesian Economics ) which served to make the recession worse by increasing their National Debts.
Nanny states appear to be good until they run out of money.
First of all, a sovereign country, which issues its own currency, cannot go bankrupt. It's operationally impossible.
Taxing, borrowing and spending has nothing to Keynes or the General theory.
As a matter of fact, as I've pointed out on multiple occasions, taxes don't fund expenditures, they simply regulate aggregate demand.
to compare the finances of sovereign nations to that of households which is simply ridiculous.
to compare the finances of sovereign nations to that of households which is simply ridiculous.
actually its 100% logical. When a household cant pay its bills its in big trouble because men guns show up to take the house or car or something else.
When a government cant pay its bills it faces the same exact problem. The printing money free lunch liberal option (illegal under a gold standard Fed) only covers up the problem letting it grow worse rather than correcting it. Now the liberal knows his ABC's
As a matter of fact, as I've pointed out on multiple occasions, taxes don't fund expenditures, they simply regulate aggregate demand.
too stupid and liberal!! Of course you fund a bridge or road or welfare expenditure with taxes. A child would know this. Taxes have little to do with aggregate demand since aggregate demand stays about the same whether taxpayers spend their money or the government taxes it and then spends it. Again, a child should know this.
First of all, a sovereign country, which issues its own currency, cannot go bankrupt. It's operationally impossible.
Nice to have another liberal illiterate in the conversation. Of course a country can go bankrupt. When Ron Paul asked Bernanke why we don't switch to a gold standard Bernanke said, we operate the Fed as if it were on a gold standard. So, if the Fed mandate were to say it can't create inflation then it couldn't prevent bankruptcy by printing liberal easy money.
Taxing, borrowing and spending has nothing to Keynes or the General theory.
a liberal illiterate's gibberish
to compare the finances of sovereign nations to that of households which is simply ridiculous.
actually its 100% logical. When a household cant pay its bills its in big trouble because men guns show up to take the house or car or something else.
When a government cant pay its bills it faces the same exact problem. The printing money free lunch liberal option (illegal under a gold standard Fed) only covers up the problem letting it grow worse rather than correcting it. Now the liberal knows his ABC's
Ed how many times do we have to go over this: a sovereign government, which issues its own currency, cannot go bankrupt. For the 189,765,234th time, all government spending is 'printing money' under a fiat system, since there is an increase in reserve balances, regardless of tax receipts or bonds sales. The US Government can’t involuntarily run out of dollars because it has the constitutional authority to create dollars without any limit. Congress is the only entity that can regulate this ability.
Lastly, for 230,567,113th time, the federal government doesn't operate like a household. Households can’t issue their own currency and require that people use said money to pay taxes. A household has a limited supply of dollars; the government's supply of dollars boils down to policy decisions.
While it may be technically true that a sovereign government cannot go bankrupt because they can keep printing money to pay their debts...it is simply a matter of time, if you keep printing huge sums of paper money, before the value of that money becomes so worthless it's not longer a viable commodity. As cases in point, take the Weimar Republic of Germany...or Hungary...or dozens of other countries. The truth of the matter is that if a government prints more and more money to pay it's debts at some point that money will not be taken as payment. Once you've reached that point goods have value and money has little to none.
What the Fed is doing now with nonstop "quantitative easing" will at some point lead to a US dollar that is worth less and less with a corresponding spike in the cost of goods. I think we're starting to see that now.
Taxes aren't about obtaining money for expenditures, they're about regulating spending power (aggregate demand) so we don't cause inflation.
