Popular Conservative Austerity argument Debunked?

[the2real4mafol]

Kasz216 said:

the2real4mafol said:

dsgrue3 said:

Pemalite said:

Kasz216 said:

I'd point out that the UK's GDP growth predictions... even lowered actually aren't that far off the US.

EVERYWHERE regardless of strategy seems to be stuck at ~1-2% GDP growth.

Even if you think the debt spending is making the difference... why kill yourself for 2%, building up a future huge disaster?  When you could have 1% and have a safer future?

Espiecally if nearly all that 1% is a boost soley due to government spending!

I wouldn't say *everywhere* Australia avoided recession during the global economic collapse and has maintained growth through the whole ordeal.

Sure?

Certainly looks like it dipped into a recession at a couple points.

Furthermore, any growth <2% is considered poor, let alone <1% which is anemic.

At least they are growing, we in the UK are amazed at .3% growth. How pathetic!! Sadly, it's the same across much of Europe too. We are just so screwed. Australia must at least maintain what it's got.

This graph is the UK's poor economy

 

Yeah... and a lot of Australia's growth in the past 20 years has been a huge commodities boost of raw matierials.

While the UK's GDP Growth has mostly all been in it's banking sector.   

The UK is honestly... doing strikingly well when you consider the main driver of their growth has been the same area that had a huge collapse.

It's not like you guys have huge swarths of untapped land and resources or even a lot of real estate. 

We need to update our infrastructure more than anything. We still use sewers from the Victorian ages for example and there are still many post-industrial scars that need to be rebranded and reused for something (its depressing seeing so many empty buildings in some areas!). Thank god we got the olympics which put some money in East London. and we also must re-diversify our economy, relying on mostly services can't be good.