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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (786735)	5/29/2014 5:01:29 PM
From: TimF	2 Recommendations Recommended By FJB i-node Read Replies (1) of 1587495

You made the claim with your chart. The chart makes some claims. So did you. Specifically you claimed "Every country on your chart, except France, was showing spending cuts by 2011." That's a direct quote. When challanged on that you talk about spending cuts in 2012. Which clearly are not "by 2011. The UK didn't have any cuts "by 2011". Italy had very tiny cuts. France continued increasing every year (including after 2011). But moving on from your mistake about "by 2011" we can talk about 2012. In 2012 the spending cuts (which only occured in some countries) were tiny. Not enough to pluasibly explain any major negative from the economy from a Keynsian perspective (much less from the perspective of alternate schools of economics). The muliplier effect would be implausibly large, it would have to be truly enormous. Even people like Krugman don't claim a multiplier like that. You don't get a serious downturn in an economy from such a cut of a few billion Euros or pounds of of a national government budget that is the better part of a trillion. Esp. not when spending is retored to a level beyond the previous high a year later. The NHS budget is being slashed by £20 billion by 2015 So now your talking about spending in one department (not one country, let alone "Europe") that is planned to happen by 2015". So a projected cut by 2015 in one section of one government caused economic weakness in Europe in 2011 and 2012. Do you realize how silly that sounds? Most euro countries cut their budgets because conservatives were in power. Most euro countries (wether you mean European countries or countries using the euro) are spending at record levels, all of them are spending at least close to as much as they ever spent before.

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