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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (852056)4/25/2015 1:46:24 PM
From: tejek  Read Replies (1) of 1575875
 
They didn't have austerity in the first place in order to supposedly deepen the recession, except possibly a very mild and short term austerity around 2011, which was much to small to plausibly cause that much extra deeping of the recession even if you accept the highest values for fiscal multipliers.

Whether mild or significant, gov't austerity makes things much worse because typically the private sector, which is made up of a lot of greedy, not so bright assholes, will cut back hugely during a recession in order to keep the profits flowing. The combo of the private sector laying off big time and gov't austerity makes the recession much worse. Its why Europe still isn't out of their recession.

Why are you so ideological that you can't see the forest for the trees???
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