pssst ... austerity failed in Europe

[Mogambo]

Dutch gov having problems after having undertaken austerity measures.

Britain - double dip recession
France - socialist party about to come to power

Abrupt deficit cutting is fail my US brahs.

Slowly all the governments that adopted drastic austerity measures will be toppled. It's not the solution.

[A-GAME]

It is only a matter of time.

[pachovia]

No ****, it not suppose to help economic growth, its to keep the countries solvent. How are suppose to fund deficit spending if no one will lend you money? The truth is nothing will help and they are going to have to ride out the down turn and it will take a long time to grow again no matter what they do. The entire EU is ****ed for many years to come.

[cannadian]

No ****, it not suppose to help economic growth, its to keep the countries solvent. How are suppose to fund deficit spending if no one will lend you money? The truth is nothing will help and they are going to have to ride out the down turn and it will take a long time to grow again no matter what they do. The entire EU is ****ed for many years to come.

This. Everybody already expected Europe to double dip anyways, obviously undergoing austerity isn't going to change that.

[Mogambo]

This. Everybody already expected Europe to double dip anyways, obviously undergoing austerity isn't going to change that.

BS! Tell that to the people that have to live with the austerity measures.

[DocHol1day]

Pssst...... Socialism failed in Europe

[tk217]

So... is everyone in this thread saying the GDP of the EU isn't positive?

[A-GAME]

Pssst...... Socialism failed in Europe

This is an incredibly ignorant statement.

[cannadian]

BS! Tell that to the people that have to live with the austerity measures.

BS? Back in October everybody was worried that Europe AND the US were going to both double dip - it no longer appears that the US will, but the entire market has been expecting another eurozone recession for a long time now.

Tell the people that they have to live within their means? What's evil about that?

[ViolentZ]

What are you talking about ?

VVD, CDA, D66, GroenLinks en ChristenUnie have come into an agreement of netherlands national deficit. Did it in one week. U mad ?
http://www.nytimes.com/2012/04/28/wo...BFCE73B78C5F4D

France - socialist party about to come to power

Thus...?

lol @ this dumbass *******

Pssst...... Socialism failed in Europe

America is more capitalistic than europe, yet you guys have a ****tier economy. u mad broskie ?

[DocHol1day]

This is an incredibly ignorant statement.

Great counter point, chap.

[pachovia]

BS! Tell that to the people that have to live with the austerity measures.

No **** it sucks, but when your country doesn't produce enough to support its spending your screwed. You have two choices either stop spending so much or print money and both options are bad. If you print money the country will have terrible inflation and the cost of living will sky rocket.

[ViolentZ]

This is an incredibly ignorant statement.

He is a ron paul supporter. Everything that involves some tiny government regulation is equal to socialism/communism for them.

[tk217]

He is a ron paul supporter. Everything that involves some tiny government regulation is equal to socialism/communism for them.

A little bit too much embellishment in that statement.

[pachovia]

BS! Tell that to the people that have to live with the austerity measures.

What is you solution, borrow and spend more of other peoples money?

[9987]

Yo bro, listen to the R/P economists. You need to contract the economy in order for it to grow.

[Mogambo]

Yo bro, listen to the R/P economists. You need to contract the economy in order for it to grow.

I don't understand why people think there's a silver bullet solution here. Full on austerity is only going to lead to social unrest which is bad for an economy.

[letrozole]

What is you solution, borrow and spend more of other peoples money?

thats why banks exist.

Anyways, implementing austerity when youre just coming out of a recession is stupid as hell. at least wait till growth stabilizes to pay off debts

protip: markets are not worried about europes rising debt but rather its falling gdp (which makes debt/gdp ratio look horrible)

proof:

[feedmelies]

BS! Tell that to the people that have to live with the austerity measures.

This is hilarious.

Just keep on spending money you don't have.

[Mogambo]

This is hilarious.

Just keep on spending money you don't have.

Yes because this all economics boils down.

Debt/no debt. problem solved.

[pachovia]

thats why banks exist.

Anyways, implementing austerity when youre just coming out of a recession is stupid as hell. at least wait till growth stabilizes to pay off debts

protip: markets are not worried about europes rising debt but rather its falling gdp (which makes debt/gdp ratio look horrible)

proof:

I love it when people who have no idea how the bond markets operate post a few graphs and think they can just borrow and spend with no consequences. A lot of the EU countries are screwed no matter what. Austerity is pain now and borrowing delays the pain. Either way they both are bad and you have to pick you poison. The bonds markets have forced austerity on the countries, you can't spend if you can't borrow very simple. If you borrow from the "bank" you are printing money and lowering the value of the Euro causing inflation which can be worse then austerity. Plus the EU won't print enough money to inflate your way out of the mess so you screwed on that option also.

[JB05]

Good, Europe deserves to suffer one way or another for their out-of-control budgets. You could have just maintained a balanced budget, but instead governments spent more than they took in (thus having a higher standard-of-living than warranted)

Now, no matter what happens, no matter who you elect, the market will force you back to equilibrium. Your standard of living will be lower than warranted over the next few years as the governments cut spending. If they don't cut spending, and default, then they'll be unable to raise more capital and will essentially be forced to run balanced budgets anyway. The outcome is the same regardless. The double-dip recession is just the icing on the cake.

Want to get a job? Try the suicide prevention or morgue business - if you can deal with being a temp for years and have a contact with a labor union connection. Enjoy your 2 months of vacation, socialist *******s.

[letrozole]

I love it when people who have no idea how the bond markets operate post a few graphs and think they can just borrow and spend with no consequences. A lot of the EU countries are screwed no matter what. Austerity is pain now and borrowing delays the pain. Either way they both are bad and you have to pick you poison. The bonds markets have forced austerity on the countries, you can't spend if you can't borrow very simple. If you borrow from the "bank" you are printing money and lowering the value of the Euro causing inflation which can be worse then austerity. Plus the EU won't print enough money to inflate your way out of the mess so you screwed on that option also.

japans debt is 228% of gdp so why is their 10 year bond yield only 90 bp?

[EXplodingLabRat]

Pssst...... Socialism failed in Europe

lol this

Britain wouldn't even be in this position if the Labour government wasn't borrowing so much.

[AnIrIsHbOy]

Pssst...... Socialism failed in Europe

Psst.. there is no socialism in Europe. There is varying degrees of social democracy (as there is in USA) which Is basically giving some crumbs off the capitalist table to poor people. But all EU countries embrace the capitalost system. The EU has more top 500 companies than the USA.

I am certainly not a socialist but you should really know what something is before you rigorously oppose it.

Regarding the OP. Austerity is working just fine, tyvm.

Uk budget deficit 2009=13%
Today = 6%

Same with most other eu countries.

[AnIrIsHbOy]

Good, Europe deserves to suffer one way or another for their out-of-control budgets. You could have just maintained a balanced budget, but instead governments spent more than they took in (thus having a higher standard-of-living than warranted)

Now, no matter what happens, no matter who you elect, the market will force you back to equilibrium. Your standard of living will be lower than warranted over the next few years as the governments cut spending. If they don't cut spending, and default, then they'll be unable to raise more capital and will essentially be forced to run balanced budgets anyway. The outcome is the same regardless. The double-dip recession is just the icing on the cake.

Want to get a job? Try the suicide prevention or morgue business - if you can deal with being a temp for years and have a contact with a labor union connection. Enjoy your 2 months of vacation, socialist *******s.

USA debt to GDP: 105%

EU average: 80%

USA debt to GDP 2017 forecast: 118%

EU average: 75%

To put it mildly, your IQ is nearer the EU debt to GDP% than the USA figure.

[Mecklenburg]

Good, Europe deserves to suffer one way or another for their out-of-control budgets. You could have just maintained a balanced budget, but instead governments spent more than they took in (thus having a higher standard-of-living than warranted)

Now, no matter what happens, no matter who you elect, the market will force you back to equilibrium. Your standard of living will be lower than warranted over the next few years as the governments cut spending. If they don't cut spending, and default, then they'll be unable to raise more capital and will essentially be forced to run balanced budgets anyway. The outcome is the same regardless. The double-dip recession is just the icing on the cake.

Want to get a job? Try the suicide prevention or morgue business - if you can deal with being a temp for years and have a contact with a labor union connection. Enjoy your 2 months of vacation, socialist *******s.

loool, jelly americans^^

But you are right, i will definitely enjoy my full paid vacation.

[AnIrIsHbOy]

loool, jelly americans^^

But you are right, i will definitely enjoy my full paid vacation.

But bro, if we don't work 24/7/365, who's tax euros will fund our huge military industrial complex and our car, oil and bank subsidies/bailouts?

Oh wait, we don't do any of that ****. lol

[9987]

Psst.. there is no socialism in Europe. There is varying degrees of social democracy (as there is in USA) which Is basically giving some crumbs off the capitalist table to poor people. But all EU countries embrace the capitalost system. The EU has more top 500 companies than the USA.

I am certainly not a socialist but you should really know what something is before you rigorously oppose it.

Regarding the OP. Austerity is working just fine, tyvm.

Uk budget deficit 2009=13%
Today = 6%

Same with most other eu countries.

AWWWWWWWWWW YEEEEEEAAAAAAH!

Austerity sucks.

BRB, deficit and debt is ruining economy
BRB, cut deficits and cut debt
BRB, economy contracts
BRB, unemployment increases
BRB, success
BRB, ireland is a model for the future

AWWWWWWWWWWWW YEEEEEEEEEEEEEEAAAAAAAAAAAAAHHHHHH!

[AnIrIsHbOy]

AWWWWWWWWWW YEEEEEEAAAAAAH!

Austerity sucks.

BRB, deficit and debt is ruining economy
BRB, cut deficits and cut debt
BRB, economy contracts
BRB, unemployment increases
BRB, success
BRB, ireland is a model for the future

AWWWWWWWWWWWW YEEEEEEEEEEEEEEAAAAAAAAAAAAAHHHHHH!

Brb having the economic knowledge and wit of a microwave