Mr. Austerity My Ass!

[ilia25]

Or if your economy is depressed so that monetary policy cannot counteract the negative effect of reduced spending. As a rule, you are correct, governments are not economic engines. But they can and should function as an engine starter when the engine stalls. That is a basic textbook policy.

Only if you are Keyensian.

That's Econ 101, actually. Besides, the economy behavior since the beginning of the crisis was pure Keynesian -- low inflation despite trillions of new money "printed" by the Fed, low treasury rates despite trillion-plus government deficits -- those two things that were not supposed to happen if Keynes was wrong. And in fact, most conservative economists and the likes of Paul Ryan were predicting both high inflation and investors running from treasuries years ago. Precisely because they never bothered to learn what Keynes figured out back in 1930s.

 

[California Girl]

It's working in Britain.

Gee, what planet are you living on? Britain is doing worse than during the Great Depression.

That was January. This summer has seen the 'green shoots' of recovery, driven by exports, and the 'feel good' factor of the Queens Jubilee, Olympics and stabilizing economy. Of course, because of the Euro Zone, the country is taking longer to recover than it would ordinarily have done.

Unlike you, I don't read a blog and accept that as the final word. I tend to review a variety of sources and form an opinion based on a variety of information. Idiot.

 

[kiwiman127]

It's working in Britain.

Gee, what planet are you living on? Britain is doing worse than during the Great Depression.

That was January. This summer has seen the 'green shoots' of recovery, driven by exports, and the 'feel good' factor of the Queens Jubilee, Olympics and stabilizing economy. Of course, because of the Euro Zone, the country is taking longer to recover than it would ordinarily have done.

Unlike you, I don't read a blog and accept that as the final word. I tend to review a variety of sources and form an opinion based on a variety of information. Idiot.

And that's why the Guardian printed this story on August 15th?
George Osborne faces calls from leading economists for U-turn on austerity | Politics | The Guardian

 

[8537]

It's working in Britain.

You can't be serious.

This post is a joke, right?

right?

amiright?

 

[8537]

Or if your economy is depressed so that monetary policy cannot counteract the negative effect of reduced spending. As a rule, you are correct, governments are not economic engines. But they can and should function as an engine starter when the engine stalls. That is a basic textbook policy.

Only if you are Keyensian.

You should really shy away from making claims about economic theory you can't even spell.

 

[8537]

It's working in Britain.

Gee, what planet are you living on? Britain is doing worse than during the Great Depression.

That was January. This summer has seen the 'green shoots' of recovery, driven by exports, and the 'feel good' factor of the Queens Jubilee, Olympics and stabilizing economy. Of course, because of the Euro Zone, the country is taking longer to recover than it would ordinarily have done.

Unlike you, I don't read a blog and accept that as the final word. I tend to review a variety of sources and form an opinion based on a variety of information. Idiot.

Oh gawd.

The UK economy shrank last quarter. Shrank. Got smaller. Incomes declined.

 

[Full-Auto]

So izzy he gonna do it ? Well maybe if he gets coerced enough since he's such a weakling and flip flopper!

Romney explains that austerity, during the recovery from a Great Recession, would cause catastrophic damage to our nation. The problem, of course, is that the Republican congressional leadership is committed to imposing austerity on the nation and Speaker Boehner has just threatened that Republicans will block the renewal of the debt ceiling in order to extort Democrats to agree to austerity -- severe cuts to social programs. Romney knows this could "throw us into recession or depression" and says he would never follow such a policy.

]Romney, however, has not opposed Boehner's threat to use extortion to force austerity on the nation. Romney has the nomination sown up, but I predict that he will stand by and let Boehner try to throw us into a Great Depression rather than upset the Tea Party-wing of the Republican Party. Indeed, Romney will attack Democrats who have the political courage to defend our nation against his Party's demands for austerity that would throw us into recession or depression.

What does one call a politician who, solely to advance his personal political ambition, supports his Party's efforts to coerce austerity even though he knows that the austerity would cause a national economic catastrophe and states that he, "of course," would never adopt such self-destructive austerity if he were president? Romney is failing the tests of courage, integrity, and loyalty to our nation and people.

Later in the interview, Romney claims that federal budgetary deficits are "immoral." But he has just explained that using austerity for the purported purpose of ending a deficit would cause a recession or depression. A recession or depression would make the deficit far larger. That means that Romney should be denouncing austerity as "immoral" (as well as suicidal) because it will not simply increase the deficit (which he claims to find "immoral" because of its impact on children) but also dramatically increase unemployment, poverty, child poverty and hunger, and harm their education by causing more teachers to lose their jobs and more school programs to be cut. Fewer children will be able to get college degrees. Austerity is the great enemy of children -- it is the epitome of a self-destructive, immoral economic policy.

LINK

You crack me up...The complaints...Then we realize the alternative..Which makes your complaints complete laughing stocks.

 

[8537]

What is this bullshit about exports? Exports have declined in recent months - and rather dramatically. They increased significantly between about mid 2009 and Jan of 2011.

 

[Listening]

Or if your economy is depressed so that monetary policy cannot counteract the negative effect of reduced spending. As a rule, you are correct, governments are not economic engines. But they can and should function as an engine starter when the engine stalls. That is a basic textbook policy.

Only if you are Keyensian.

You should really shy away from making claims about economic theory you can't even spell.

And you might want to consider getting some ADD meds.

It might help you stay on topic.

 

[blastoff]

I hope he does get elected and his flip floppy leadership shows people what a doofus he is. Romney doesn't know from nothin'! Why did he want to be governor of MA? To implement republican policy? If so, he was pretty unsuccessful. Or if he wanted to implement dem policy, WHY? I thought he was against all that socialist stuff. He is a man without a calling except self-gratification of being president which is precisely why he became governor--a stepping stone for Mitt Romney to the presidency. He will be a disaster if elected!

Join Date: August 2012

Nothing else need be said.

 

[ilia25]

It's working in Britain.

Gee, what planet are you living on? Britain is doing worse than during the Great Depression.

That was January. This summer has seen the 'green shoots' of recovery

Whatever might happen this summer, it won't change the history of the past years -- which was a lousy economy thanks to the austerity policies.

 

[California Girl]

Gee, what planet are you living on? Britain is doing worse than during the Great Depression.

That was January. This summer has seen the 'green shoots' of recovery

Whatever might happen this summer, it won't change the history of the past years -- which was a lousy economy thanks to the austerity policies.

No, it was a lousy summer because of the Euro Zone and recession. It was never gonna turn around overnight. If you want to lay blame somewhere, blame the previous government for hiding unemployment by growing the public sector disproportionately... that's what cause a huge amount of the shit in the UK... an unsustainable growth of public sector spending while your private sector was tanking. Not rocket science.

 

[ilia25]

That was January. This summer has seen the 'green shoots' of recovery

Whatever might happen this summer, it won't change the history of the past years -- which was a lousy economy thanks to the austerity policies.

No, it was a lousy summer because of the Euro Zone and recession. It was never gonna turn around overnight. If you want to lay blame somewhere, blame the previous government for hiding unemployment by growing the public sector disproportionately... that's what cause a huge amount of the shit in the UK... an unsustainable growth of public sector spending while your private sector was tanking. Not rocket science.

You really are an airhead First you said that the UK economy is doing well. Then you said that it was bad before, but it started to improve this summer. Now you are saying that it was this summer that was lousy

Blaming Eurozone troubles won't work. Look at Sweden, it is just as integrated in the European economy as UK, if not more, but it was recovering much faster since the bottom in 2009. And yes, Sweden has large public sector too. In any case, I don't even know why I arguing with you -- you are obviously inventing arguments on the fly, not even trying to back them up with data.

 

[8537]

This summer has seen the 'green shoots' of recovery

.

No, it was a lousy summer because of the Euro Zone and recession.

Uh, what?

 

[California Girl]

Whatever might happen this summer, it won't change the history of the past years -- which was a lousy economy thanks to the austerity policies.

No, it was a lousy summer because of the Euro Zone and recession. It was never gonna turn around overnight. If you want to lay blame somewhere, blame the previous government for hiding unemployment by growing the public sector disproportionately... that's what cause a huge amount of the shit in the UK... an unsustainable growth of public sector spending while your private sector was tanking. Not rocket science.

You really are an airhead First you said that the UK economy is doing well. Then you said that it was bad before, but it started to improve this summer. Now you are saying that it was this summer that was lousy

Blaming Eurozone troubles won't work. Look at Sweden, it is just as integrated in the European economy as UK, if not more, but it was recovering much faster since the bottom in 2009. And yes, Sweden has large public sector too. In any case, I don't even know why I arguing with you -- you are obviously inventing arguments on the fly, not even trying to back them up with data.

That's your argument? Sweden?

I don't 'invent' anything... I just happen to have a better understanding of economics generally, and - apparently - a better understanding of the EU than you do.

 

[California Girl]

This summer has seen the 'green shoots' of recovery

.

No, it was a lousy summer because of the Euro Zone and recession.

Uh, what?

It was a lousy summer - economically - but the signs of recovery are there. I would have thought that was reasonably clear to anyone with an IQ over room temperature.

Oh, my bad. The IQ thing is an issue for you.

 

[8537]

This summer has seen the 'green shoots' of recovery

.

No, it was a lousy summer because of the Euro Zone and recession.

Uh, what?

It was a lousy summer - economically - but the signs of recovery are there. I would have thought that was reasonably clear to anyone with an IQ over room temperature.

Oh, my bad. The IQ thing is an issue for you.

So what are these green shoots being seen this summer? Is it the steep drop in exports?

When you say "it's working in Britain" how are you defining "working"?