Why Europe's Austerity Isn't Working (employment, health care, Canada, Obama)
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I thought his emphases on the eurozone countries having this one-size-fits-all solution to their problems was worth noting. I guess this is one of the big shortcomings with having all these countries connected to a common currency. Seems like it would be better if each country could sort out their own solutions to the recession. Countries like Poland who aren't in the EU seem to be doing better.
IMO;all those waited too long and loss competitiveness years ago and now see no growth to speak off.They bascailly are in the same shape as individual who needs to file bankrupsy.
This is where we are going next if we don't shrink the welfare state, the government and government employment.
Politicians there and here love to get elected and kick things down the road.
Obama was OK with 5+trillion in new debt to kick it down the road.
Well as we are learning from these socialists, down the road is a cliff as well.
For decades we have suffered the cancer of the great society, great big government and great big union employment in government. FAIL FAIL FAIL FAIL.
These less industrious countrys should NEVER have abandoned their own currency. That fact more than anything else is killing them. As long as a country has sovereign control of the money it can do many things. Print a whole lot more money which reduces the value of the money which makes it a lot easier to pay national debts. It causes inflation for sure but at the same time the increased money supply stimulated domestic spending and economic activity.
During the early 90's when Canada's economy was a basket case, "After 8 years of conservative rule" the incoming liberal government and the central bank caused the Cdn$ to sink to 60 some cents USD. It was painful to be sure but it solved Canada's economic troubles and set the country on a course for 12 straight years of a federal government budget surplus.
The freakin right is back in power again so of course we are now seeing big deficits again. Isn't it just an amazing thing that the Right who always portray themselves as fiscally responsible, ALWAYS trash the economy. Both here in Canada and in the USA.
Paul Krugman told the Europeans austerity would make things worse and that's just what is happening.
He also told Obama and these right wing idiots that the US stimulus bill was too small and too loaded with ineffective tax cuts.
He also said if Obama went along with these right wing idiot lawmakers and made the bill too small that it wouldn't be nearly effective.
He also said the GOP would blame Obama for it not working after he caved into their demands that it be smaller and too loaded with tax cuts.
And that's just what happened.
A President with no character to fight for what is right, caving to a majority of right wing idiots (some democrats) trying to run the economy into the ground.
Paul Krugman told the Europeans austerity would make things worse and that's just what is happening.
He also told Obama and these right wing idiots that the US stimulus bill was too small and too loaded with ineffective tax cuts.
He also said if Obama went along with these right wing idiot lawmakers and made the bill too small that it wouldn't be nearly effective.
He also said the GOP would blame Obama for it not working after he caved into their demands that it be smaller and too loaded with tax cuts.
And that's just what happened.
A President with no character to fight for what is right, caving to a majority of right wing idiots (some democrats) trying to run the economy into the ground.
But isn't the U.S economy on the road to recovery despite all of that?
Also who knew exactly how big the stimulus needed to be back in 08?
The freakin right is back in power again so of course we are now seeing big deficits again. Isn't it just an amazing thing that the Right who always portray themselves as fiscally responsible, ALWAYS trash the economy. Both here in Canada and in the USA.
That is crap, I have a cousin in Canada and he told me they reversed everything by reducing social programs, reducing lots of government employees and he thinks the health care there is going to be dealt with next because it is a problem.
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