georgephillip
Diamond Member
Greece had to cut back a little more because it could not pay Wall Street.which maintained their social safety nets and opted for stimulus over austerity.
of course most of Europe's government did retain its social safety net by spending about 50% of GDP!!
Greece for example had to cut back a little because it could not pay its bills; so austerity, as you call it, was mandatory. You see, there had to be an end to liberalism, you cant be a drunkin spender
forever, just till the money runs out and people won't lend to you anymore!! Can you follow that?
See why we are positive a liberal will be slow?
Here's one possible solution I'm sure you're much too dense to fathom:
"One major route is to build more public state banks. Right now a trillion dollars of our state and local tax dollars are floating through Wall Street banks in every state except for North Dakota, which has a public bank. Building statewide, not-for-profit banks in state after state would begin to construct an alternative financial path that would directly challenge the money game as played on Wall Street."
Nomi Prins: How to Make a Million Dollars an Hour - Book Review - Truthdig