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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (654282)5/9/2012 1:15:28 PM
From: Tenchusatsu1 Recommendation  Read Replies (1) of 1578945
 
Ted,
If Europe is in a severe recession, what does it matter? Think about it. Either way exports will suffer. Better to have a recovering Europe, then one that is going deeper and deeper into recession due to extreme austerity.


There is no way around the recessionary pressures. Fundamentally, Europeans will have to wean themselves off of the government teat.

Massive deficit spending (a la Krugman) will only move the problem around. If most of that spending actually went toward production, such as infrastructure and industrial capital, it could work.

But let's not kid ourselves. Most of that spending would just go toward propping up government entitlement programs.

The only endgame out of this is inflation, which is a hidden tax on wealth. Socialists will love this, and wealthy liberals like George Soros will make up for it by shorting currencies. The people who get screwed over will be the ones who worked hard for a living and saved up money the old fashioned way.

Tenchusatsu
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