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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (854311)5/6/2015 10:44:12 AM
From: TimF  Read Replies (1) of 1576160
 
people in Athens are burning their furniture to stay warm and Spain is exporting its young people under 30.

Even Greece is spending more than in 2008 (but in between there was a drop). The austerity they have had was only because they had no choice, things fell apart, the government couldn't afford to spend what it had been spending, so then you had austerity.

But Greece really did have austerity of sorts since it was forced on them. Most other European countries (esp. the larger richer ones) not so much.

The truth is that since 2008, conservative economics have failed on so many levels

To fail they actually have to be implemented (to the extent there is any such thing called "conservative economics" to implement in the first place).

One thing that has clearly failed is the attempts at "austerity" by raising taxes.

that if Greece doesn't have a primary surplus then it can't afford to cut taxes further and may have to, in fact, raise them

Creating a counter-stimulus (as long as worse conditions for longer term private sector growth). But as painful as they might be for the already suffering Greek economy, there may indeed be no choice, or at least no choice other then default which creates its own serious problems.
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