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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (873285)7/17/2015 10:39:37 AM
From: tejek1 Recommendation

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bentway

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Wrong. The IMF is finally begging for what Austrians have said all along. Piling more debt on top of bad debt like the Keynesians like to do, won't solve Greece's problems. Austrians have said it all along that the bad debt needs to be written off and the bond holders need to take a haircut, while the Greeks need to get their financial house in order through realistic taxes and tax collection efforts and cuts to unsustainable socialistic welfare programs.

Read the article. The IMF came to the conclusion that bad debt needs to be written off because austerity imposed on Greece, which they initially supported, does not work.

BTW first I've heard that the Austrian school is all for writing off bad debt. Love to see a link.

And then there is this:

Top Ten Austrian Economics Lies and Mistakes
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