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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (695265)1/25/2013 1:21:27 PM
From: combjelly1 Recommendation  Read Replies (1) of 1577695
 
While there is likely some minimal short term negative associated with massive budget cuts


I suppose it depends on your definition of short term. The Brits are heading for a triple dip, and they didn't even approach the scale of what you are talking about. The closest would be Estonia. They showed an immediate 20% drop, followed by a weak recovery. It has been 4 years and they still haven't reached their pre-crash high. And they won't get there this year. Or next.

Some have estimated that Greece could take 25 years or more to recover, if they ever do. But Greece has some problems unique to Greece, so probably isn't a good model.

What is common in both of these countries, and likely the UK and Ireland as well is there has been a massive shift in wealth upwards. Which isn't healthy for the long term.

Our middle class doesn't need a harder beating than they are taking right now.
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