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Here's how Austerity works: 1. Through lobbying and privatization, leech the majority of a countries' value (normally over time, since pulling a Greece is super messy) via corrupt projects, contracts, straight up embezzling the funds, diverting relief aid, etc. 2. Once the country has hit a recession, implement Austerity 3. Through austere programs, sap the rest of the countries' value, the amount reserved for trivial things such as lower class bread, meats, housing, etc. 4. Leave the country before it falls apart. Ta-Daaa~
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Jul 20, 2015 08:45
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| # ¿ Apr 29, 2024 02:21 |
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When arguing with Asdf, keep in mind that he's one of the more vocal opponents in the minwage increase thread, and shape your arguments accordingly. An argument using math or empirical results will not persuade.
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Jul 20, 2015 20:11
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silence_kit posted:I think the problem is more that posters in this forum get upset whenever they encounter someone who doesn't toe the DnD party line. I don't think they understand that someone can disagree with parts of their their political ideology without being an evil mustached villian who holds all beliefs that are contrary to the stereotypical progressive DnD poster. shitsapostersbelieve.txt People have patiently debated with the dude for like, a hundred pages, he's either rock-solid dense or a deep cover troll created to prevent megathread circlejerks.
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Jul 21, 2015 02:43
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asdf32 posted:Austerity prior to the debt crisis would have prevented the debt crisis. Actually implementing austerity would have worsened the debt crisis further, as the severe cut to their GDP growth alongside comparatively minor savings via gutting economically stimulating programs would have had its effects occur sooner, and given more time up to this point to worsen. It was estimated that greek debt would have hit 154% of GDP by 2016 had it maintained its current programs; right now, after implementing austere cuts, it sits at 177%. Shockingly enough, short term payment of fractions of the debt are not worth long term losses of the ability to pay the debt.
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Jul 24, 2015 04:34
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ColoradoCleric posted:See the reality is its better to renege on your payments and declare bankrupty because even with ruined credit you still have the meager hard cash of $5 in your pocket and this is a good way to run a country's finances. when the alternative is selling your home to pay ultimately pointless debt that could be haircut tomorrow if people had the guts to admit austrian economics make no sense, giving them your money on-hand to pay a fraction of the debt, then still being on the hook for said debt while now having no way to pay them back... Yeah. Defaulting is a better idea than cutting off your legs to save your loan shark the time.
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Jul 29, 2015 19:26
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ColoradoCleric posted:I wonder what Greece would have had to do to rack up so much debt where this even becomes an issue. This isn't an actual response to the point that austerity is a bad policy. The answer to this post is that it requires corrupt politicians willing to assist companies in evading taxes, joining a half-baked currency union, brain drain due to said union, and bankers willing to write absurd loans dye to a lack of banking regulations. All that will manage 154% debt to GDP. After a decade plus of this. Alongside a huge recession. From there, you inplement absurd policies in the name of economic bellyfeels which cause unemployment to soar, intellectuals to flee the state, government initiatives to decay, and erode workers rights. This skyrockets the sebt-to-GDP to 175% in the span of a couple of years, but on the plus side it provides the wealthy a nice going-away gift before they leave for the next tax haven.
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Jul 29, 2015 20:28
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