kowenicki said:
Kasz216 said:
Lately there have been more and more articles in the US complaining about Europeon Austerity and how it will destroy the country.
It makes me wonder what other option there actually is. The europeon Debt Crisis is happening because a number of countries didn't cut spending when they could and are rapidly approaching (or already reached) the point where they can't pay off their debts.
Some people are saying that instead they need to keep spending up, possibly even increase it and hope to outgrow the debt.
Which seems impossible just based on the fact that they weren't outgrowing their debt even when the economy was good.
The only real way to get out of it, is to try and spur growth while NOT increasing debt. In otherwords, Austerity, and then a bit beyond normal austerity to provide pro-growth changes.
In otherwords cut more then you need to and put that extra money elsewhere.
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Forget religion... politics and economics is the one area we do always seem to agree (apologies for the time we fell out over religion, its best I stay away from religion threads as I care to little to have a sound opinion).
I agree here totally.
Whenever I see protests against cuts I feel like rallying together some like minded individuals for some protests to complain about the lack of cuts! They aren't deep enough or strong enough imo.
Austerity... I wish everyone would stop being so selfish and living for the now and think about the future, about our kids and live with the austerity.... its the only way and a chance to put right a hell of a lot of recent-history wrongs.
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I think the problem is... the economy is built on people and people act based on culture, which is different everywhere and as such people react to things totally differently.
Stimulus based economics were born in an era where people were argueably less self centered then today. I think in general the "Person" that economic theory was based around no longer exists.
France will be intersting. 56% of GDP is government spending...
