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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (786769)	5/30/2014 11:29:14 AM
From: tejek	Read Replies (2) \| Respond to of 1587506

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). I based my claims on the chart. As for France, its one frigging country.........most of Europe was cutting back. 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. They may seem tiny to you but to people who are struggling economically, they were significant. Ditto for the economies of those countries. They needed spending like what was happening in the US. Instead, they experienced cutbacks which kept them in recession until 2013/2014. Austerity does not work when a country is in recession. Its not logical. The facts are right there in front of the faces of conservatives, and yet, you all still don't get it...or you all don't want to get it. Apparently, conservatives are not educable. 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? lol. That was the example cited in the article. There have been other cuts to other depts. The reason they brought up the cuts to NHS is because it effects the poorest. Did you bother to read the article?