Post Comment Preview Comment
To reply to a Comment: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
View All
Favorites
Highlights
Recency  | 
Popularity
Page:  « First  ‹ Previous  3 4 5 6 7  Next ›  Last »  (67 total)
  1 of 4  
COMMUNITY PUNDITS

photo
ScreenName05 08:33 PM on 07/23/2013
So lets get back to that old supply and demand chart that all those austerity nuts seem to want to ignore. 

Simply put, the more money people have the more they spend, the less money they have the less they spend.  The less money circulating from all sources - government being one of those sources - the less money people have, and therefore the less they spend. 

Demand goes  Read More...
07:29 AM on 07/24/2013
"The yield on Portugal's 10-year bond shot past 8 percent on Monday, a red line that in the past has signaled a country is about to need another bailout. High interest rates make it even harder for governments to pay back their creditors."

Think of how high the interest rate would be if Portugal wanted to spend a lot of money and run big deficits. Of course they're practicing austerity, no one will loan them any money. That's you signal that you're broke.

Now of course, countries like the UK could print money if they wanted to. But they are already running large deficits, and they rely on the value of their currency to buy the food they no longer grow and the energy they no longer produce. A falling UK Pound would only add to their woes and hit the people at the bottom hard.
07:57 AM on 07/24/2013
Actually a falling uk pound would cause their goods to be more competitive, increasing exports and the domestic consumption. A rising currency on the exchange market is bad in macro terms
02:54 PM on 07/24/2013
A falling UK pound would indeed make exports more competitive, but the windfall from this ability to sell more widgets abroad doesn't make it to the people at the bottom, rather it feeds the top (first).

So the economy "at large" will see this as a positive (and why the stock market here in the states goes ape-poo every time we have another round of Q.E.).

Those at the bottom will be hit with the double-whammy of NOT seeing any real benefits to increased exports on top of higher costs for goods bought domestically.

The common man could care less how much better the export market is going when he can't afford a bowl of cereal....
photo
HUFFPOST SUPER USER
mburgh
Come Back Samuel Gompers
07:28 AM on 07/24/2013
Austerity works in your garage, not in a massive globalized economy.
07:20 AM on 07/24/2013
Part 2 of 2

You also have to take into account the laws of these countries in terms of how business operate or can operate. Did you know that in Italy if you own a business, and you have 15 or more employees, you must pay any retired employees the salary they earned for as many years as they worked after they retire? Why would anyone hire more than 14 employees (look at their unemployment numbers)? Did you know that the only legal reason for firing an employee in Italy that does not draw an investigation by the government is if they commit a crime? In what world is that productive (GDP measures productiveness)? No you didn't know that because you are too busy formulating uneducated opinions from articles written by journalists who are ignorant to the realities of international economics and who give graphs (which looks like an excel graph) that are not cited.
07:19 AM on 07/24/2013
Part 1 of 2

The graph provided does not represent the failure of austerity. Looking at whether a country has done austerity measures, comparing it with GDP growth/loss during that time, and then coming to the conclusion that its austerities fault is extremely ignorant of the other factors that play into the problems the above countries in the graph are facing. How many people here can tell me what per cent of the Italian population, the Greek population, and the Spanish population actually pays taxes? I'll give you a hint; it’s on average around 50%. Not to mention the percentage of income businesses in those countries do not report is in the double digits. I can give you an Italian government research website to prove it. I lived in Italy for 5 weeks doing economic, culture, and market research. The people I talked to in Italy (business owners, individuals, academics from the University of Rome) take pride in not paying taxes. My colleague did similar research in Greece and found the exact same thing.
This user has chosen to opt out of the Badges program
photo
07:48 AM on 07/24/2013
The US BANKS took down Greece.Greece has always had debt.

Its called aTROJAN horse to take downDEMOCRACY.

Wall St. Helped Greece to Mask Debt Fueling Europe's Crisis ...
www.nytimes.com/2010/02/14/business/global/14debt.html?...all
07:59 AM on 07/24/2013
Your point would be valid if this tax evasion was a new trend. It is not, so although it is important, when talking about if austerity has helped or hurt over the past 5 years, it is not applicable.
08:46 AM on 07/24/2013
My point is still valid because you have to take into account the fact that tax evasion in those countries is high so any measure of austerity that doesn't eliminate all publicly funded welfare program (i.e. social security) is obviously going to fail because of the tax evasion.  I am possitive not one policy of austerity has eliminated a pulbic welfare program in Italy.  You can't cut a government program like the postal service, then look at the unchanging cost of welfare programs and say austerity failed which is exactly what this article does.
07:16 AM on 07/24/2013
Liberals like to perpetuate failure. Yes - let's keep spending more and more of what we don't have - and will never have. That's what got us here to begin with...
This user has chosen to opt out of the Badges program
photo
07:50 AM on 07/24/2013
Who pays for WARS?.....Jesus ? your KIDS?.....YOU didnt.
And you still dont want to pay.ALL off the books and on the Chinese Credit care till Obama.
how does that work?

MISSION ACCOMPLISHED?
08:12 AM on 07/24/2013
Ask Bama about his AFG war and unrestricted drone strikes. And then about his Detroit bailout that cost taxpayers billions and failed. Or how about that close to trillion Obamabux in failed stim-U-less? Educate yourself before looking foolish.
photo
elbzee
Fear is the mind-killer
08:13 AM on 07/24/2013
You deserve kudos for more than just your comment. We've all been frogs in a slowly warming pot for years!
This user has chosen to opt out of the Badges program
photo
Thinking Conservative
To err is human to forgive is not my policy
08:38 AM on 07/24/2013
We don't have it because we do not demand it . . . . . .its there in the hands of the corporations and the rich !!
photo
HUFFPOST SUPER USER
Ralph Huntington
Love One Another
07:15 AM on 07/24/2013
All our currencies are fiat "money" - evidence of debt, not real money. "Money" is created by the central banks by establishing debt on the books, calling it an "asset" and then "Lending" it out at interest which accrues to the banks not the governments which pretend to issue the phony "money".

Such a scheme requires growth -- ever increasing debt - in order to work. Austerity contracts the economy -- the opposite of growth -- which is another way of saying "reduces GDP". Thus it is patently impossible in a fiat-money system to expand the economy by instituting austerity measures. (Hint: the banksters know this!)

The real solution is to wrest the issuing power back from the (private) banks.
This user has chosen to opt out of the Badges program
07:11 AM on 07/24/2013
Durrr
Shrinking the economy,and increasing folks in the social safetynet programs is a way to prosperity? Making the pie smaller is a good thing?
I dont need an Advanced degree to know that doesnt make sense.
07:09 AM on 07/24/2013
The very first response of the Aussie government to the global meltdown was to give every one a big lump of cash to spend as they wished ,this along with infrastructure spending among other measures has left us totally unscathed .So all the austerity experts can go kiss my happy ol' butt !
08:31 AM on 07/24/2013
Yes, lets just give everyone cash.
09:50 AM on 07/24/2013
better than giving it all to the billionaire republicans like your lot Are so keen on ,your comment shows a total lack of how sound fiscal policy works
07:05 AM on 07/24/2013
Austerity is how the rich people punish the rest of us for their investments gone bad... so they can put their money in gold which the rest of can't afford.
photo
MoreFocusLessEntropy
safe drinking water for all
06:41 AM on 07/24/2013
The economic sadists won't be convinced. They're enjoying this too much.
This comment has been removed.
06:40 AM on 07/24/2013
Austerity without government regulation reduction, is just austerity.
photo
HUFFPOST SUPER USER
Ralph Huntington
Love One Another
07:21 AM on 07/24/2013
Reducing regulation is what they want you to think is the answer. It is not the solution. See peterxdunn's explanation above. He knows what he's talking about. Austerity is part of a scam.
photo
HUFFPOST SUPER USER
PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
06:22 AM on 07/24/2013
"Poverty is the worst form of vioIence."

-- Mahatma Gandhi - $BlLLl0NAlRES AT'TACK ELDERLY
06:19 AM on 07/24/2013
The Complete Failure of the Stimulus Package: http://dailycaller.com/2011/07/25/arianna-huffington-the-stimulus-package-failed/
photo
HUFFPOST SUPER USER
mech126
Science, and government are "NOT" the enemy...
07:38 AM on 07/24/2013
The daily caller, you used that for facts, now that is fricken funny....
photo
HUFFPOST SUPER USER
PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
06:09 AM on 07/24/2013
G0P = RELlES ON lNCREDlBLY lNC0MPETENT W0RK 0F R0G0FF AND RElNH♥RT

G0P = HeII THEY CANN0T EVEN DO A SPREADSHEET

G0P = RY'AN lNC0MPETENCE EXPANDS!

G0P = LlKE R0G0FF AND RElNH♥RT = lNC0MPETENT lNTENTl0NAL FRAUDS!

When RY’AN runs numbers does he use HIS 8-BaII or a 0UlJA Board?  

G0P ANALYSIS SKlLLS ARE LIKE RY’AN’S = BlG ZERO!

G0P = RELlES ON lNC0MPETENT STUDY BY R0G0FF AND RElNHE♥RT DEBUNKED!

G0P C0BU’RN = DESERVES N0THlNG BUT SC0RN!

FACT = THESE TWO lNC0MPETENTS SH0ULD L0SE THElR TENURE!
HUFFPOST SUPER USER
Rustum
Independent turned Liberal/Progressive
07:10 AM on 07/24/2013
I don't know about you, but I think Rogoff and Reinhart did much worse than you imply in your comment. I believe the "mistakes" in their spreadsheet were not mistakes but intentional oversights, errors and formula changes. These were done to get a result that was pre-ordained. The are the perfect example of dishonest intellectuals who do not let the data drive the results but have a pre-ordained result and manipulate the data to yield the result they want. It other words, Republicans are not incompetent, they are frauds, charlatans, and deceivers, much worse than incompetent. Rogoff and Reinhart should lose their tenure because they are intellectually dishonest and not scientists or real economists.
photo
HUFFPOST SUPER USER
PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
05:06 AM on 07/25/2013
YES lNTENTl0NAL LlKLEY TO SUP'P0RT THElR FRAUD!

BUT THEY DlD GlVE IT AWAY TO BE F0UND!