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When David Cameron became PM, he bought completely into austerity as a solution.
Now Britain is officially in double-dip recession, and has achieved the remarkable feat of doing worse this time around than it did in the 1930s, which combated the Depression with expansion instead of austerity.
I don't know why some people choose to deny the clear evidence. I understand why the Repub Pols want to say it isn't so, but why do people believe them? Stunning.
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.
How do you suppose the right is back in power? Maybe because the people saw the terrible direction the left was taking them?
You are kidding, right? That is a sarcasm emoticon, isn't it?
It's more like a rolling eyes icon. Just being annoyed by some posters on here who are constantly bashing Europe. Guess it is what it is, there is a lot of hatred for Europe in this country.
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.
You just gotta love the stupidity of certain posters on here. They are probably the same people who think that Europe is a single entity. No wonder we are considered dumb and ignorant in the rest of the world.
You just gotta love the stupidity of certain posters on here. They are probably the same people who think that Europe is a single entity. No wonder we are considered dumb and ignorant in the rest of the world.
European Union. It's supposed to be a single economic entity.
European Union. It's supposed to be a single economic entity.
But the EU doesn't equal all of Europe. So Europe is not a economic Entity. And the mentioned poster just embarrassed himself, by claiming Poland is not part of the EU.
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.
That is not crap of any kind. Like the right anywhere they have cut back on many programes but at what cost??? At the cost of financing bog whopping tax breaks for the wealthy. Thr net result is the biggest deficit ever in the countries history.
Healthcare isn't any more a problem that it always has been. It's a challenge to be sure but the problem is being solved. The real problem is Stephen freakin Harper and his GOP clones!!!!!!!!!!!!!!!
But Poland is a member of the EU, so that kind of puts a wrench in your "brilliant" theory and understanding of economics.
Also I won't go into great detail but Europe and the EU as a whole seems to be getting a lot of flak for the recent debt crisis.
Yes countries such as Italy, Greece and Spain are in trouble but others such as Germany, Austria and the Nordics are doing well. Not outstanding but good and even better than in some cases as the USA. You have to take an understanding that yes the EU is becoming more linked economically but to attribute what is happening in some EU members with that of ALL EU member states is not only unfair but also downright stupid.
Perhaps educating oneself on who is a EU member could also help too.
I think it is funny... the austerity programs started what, a year or two ago? And liberals are calling it a failure... Obama has been in office for almost 4 years and they say its too soon to decide whether it has been successful or not... funny.. not only that, the European countries were in REALLY, REALLY bad shape compared to the US but apparently they should of recovered faster and better... and all they did with austerity was to decrease (not stop) some of the social programs and pensions..
I think it is funny... the austerity programs started what, a year or two ago? And liberals are calling it a failure... Obama has been in office for almost 4 years and they say its too soon to decide whether it has been successful or not... funny.. not only that, the European countries were in REALLY, REALLY bad shape compared to the US but apparently they should of recovered faster and better... and all they did with austerity was to decrease (not stop) some of the social programs and pensions..
Who are you talking about? The biggest, most influential liberal on this issue is Paul Krugman and he called this exactly correct. The stimulus was too small and barely helped the economy.
Who say it's too soon to decide? Give us a name?
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