General Discussion

byeya

(2,842 posts)

24. The rest of the world does not want the USA to embark on a misguided austerity program.

Sat Dec 22, 2012, 02:23 PM

Dec 2012

There are several things that will happen with an austerity program and the biggest, I think, is that it will slow growth and stop, or reverse, the drop in employment.
It may also strengthen the Dollar when the USA has one of the strongest currencies in the world - and considering our balance of payments problem, the dollar is probably over valued at present.
Inflation is a scary face but but it remains hidden.
When employment falls, with austerity, wages will fall and then debt will worsen as a % of GDP.
As seen elsewhere, annual deficits are already down 25% as a % of GDP since 2009.

Austerity = Bad for the USA and the world.

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Austerity is a Lie. [View all] Octafish Dec 2012 OP

K&R AnotherMcIntosh Dec 2012 #1

Most of the wealth in human history was created in the last 32 years. Octafish Dec 2012 #3

You bet it is. A vicious, murdering lie. woo me with science Dec 2012 #2

HSBC 2011 PROFIT = $22 Billion; MONEY LAUNDERING fine = $2 Billion Octafish Dec 2012 #7

Thank you. That's useful to have bookmarked. woo me with science Dec 2012 #18

These people ARE gangsters duffyduff Dec 2012 #21

And everyone invested in Wall St contributes to the HSBC defense fund daily. nt raouldukelives Dec 2012 #35

K&R Teamster Jeff Dec 2012 #4

William K. Black marks the 'Failure of the July 2011 Great Betrayal.' Octafish Dec 2012 #30

Excellent article. Calls out our media very well. Overseas Dec 2012 #39

Anyone who doubts the awful results of Austerity should read what happened sabrina 1 Dec 2012 #5

You said that so well it could be an original thread. "Declaration of war," indeed. n/t catzies Dec 2012 #6

This is why I have always thought Jack Sprat Dec 2012 #10

Agree and many in the Business Community Blogs and even some establishment KoKo Dec 2012 #17

If money is Free Speech, austerity is telling We the People to Shut Up and Sit Down. Octafish Dec 2012 #31

K & R !!! WillyT Dec 2012 #8

Bernanke free to print all the money Wall Street Banksters need in 2013... Octafish Dec 2012 #37

I agree whole-heartedly. Jack Sprat Dec 2012 #9

We don't stop deficit spending because we're running trade deficits (strong dollar policy). HiPointDem Dec 2012 #14

Socialism has come to America. Octafish Dec 2012 #40

"Why cut Social Security? The program is currently solvent, is expected to remain solvent for decade grahamhgreen Dec 2012 #11

What about DoD? xtraxritical Dec 2012 #12

The cost of Iraq and Afghanistan may be 7 trillion, grahamhgreen Dec 2012 #28

Thank you! xtraxritical Dec 2012 #32

I agree newfie11 Dec 2012 #15

Diverts attention away from the REAL problem - systemic corruption... Octafish Dec 2012 #41

yes, it is. HiPointDem Dec 2012 #13

US NEEDS A FINANCIAL SYSTEM THAT TACKLES INEQUALITY Octafish Dec 2012 #43

More than a lie. A euphemism for slavery. K&R n/t Egalitarian Thug Dec 2012 #16

That's *exactly* what it is. nt woo me with science Dec 2012 #19

We are being led to the economic slaughter house. TheProgressive Dec 2012 #20

Game is rigged so the austerity falls on the same people who bailed out the crooks. Octafish Dec 2012 #44

K&R 99Forever Dec 2012 #22

Joseph Stiglitz Educates Peter Schiff About The Austerity Trap & Cans His Austrian Nonsense (Video) Octafish Dec 2012 #45

k & r! nt wildbilln864 Dec 2012 #23

The rest of the world does not want the USA to embark on a misguided austerity program. byeya Dec 2012 #24

K&R forestpath Dec 2012 #25

And far more relevant that what kind of guns we're going to allow people to own. n/t Egalitarian Thug Dec 2012 #26

kr PufPuf23 Dec 2012 #27

K&R me b zola Dec 2012 #29

K&R idwiyo Dec 2012 #33

K&R CrazyOrangeCat Dec 2012 #34

K&R. (nt) Kurovski Dec 2012 #36

It has been absurd to watch. "Supply side" economics has been revealed as a fiction, and yet the Overseas Dec 2012 #38

kicked and bookmarked - lots to digest LeftInTX Dec 2012 #42