Forum Post: Explain something to me??
Posted 13 years ago on Oct. 20, 2011, 4:16 a.m. EST by abmebratu
(349)
from Washington, DC
This content is user submitted and not an official statement
What the hell is going on in Greece? Almost all economist agree that austerity is going to hurt the economic prospects of Greece, yet austerity is what the doctor(EuroZone) orders. Stores and shops are already shutting down as we speak because of these budget cuts in Greece. Wouldn't it be better to stimulate the economy instead of this kind of shock doctrine?? In a way the same thing applies here at home. Budget cuts are going to heart the prospects for our economy. Cutting budges hurts people on the ground. Austerity is dis-investing in the future, which is going to make us less competitive in the long run. So why do this???
The bailout bill is being put squarely on the shoulders of the people. Now they are being force-fed austerity, a program coming to a town near you...soon. That's why this movement....
Small, Local, sustainable economies! Support Plentitude!
"Wouldn't it be better to stimulate the economy instead of this kind of shock doctrine?? "
Of course it would abmebratu. But now the IMF/ECB has taken over the country. Greece is a BOC (Banker Occupied Country) with the ECB/IMF basically representing the interests of Deutche Bank and the American Banks. So Greece is like a conquered country with an occupying force in it that will now strip it of all its assets.
The only real solution is for them to default. There is no hope of them paying off their debts but that would expose Deutche Bank and the American banks to huge losses as well. All that is the source of the phrase "kick the can down the road." and that is why Geithner was in Europe. The EU (Deutche Bank) wants the significant US participation in a TARP for Europe. This is understandable since the US contributed heavily to European demise through the selling of fraudulent securities.
"In a way the same thing applies here at home. Budget cuts are going to heart the prospects for our economy."
It does. We are experiencing austerity measures right now in the form of zero interest rates (ZIRP). The cuts will be another form and they will not improve our situation, in fact they will worsen it by an order of magnitude. So yes we are on the road to the same fate as Greece. One factor not taken into account here is what happpens if we have another crash like in 2008. Nothing from that disaster was fixed to prevent a second occurance. When you look at the consolidation of deivative exposure amongst the US banks and the fact that it is 12 times the world GDP and the fact tht no one knows what is in them you can see we are running a huge risk of an even bigger blowout than what Greece experienced.
"Cutting budges hurts people on the ground. Austerity is dis-investing in the future, which is going to make us less competitive in the long run. So why do this???"
Because the zombie banks have to be maintained at all costs and more and more capital has to be pumped through them to keep them going.. Clueless Obama believes this. Geithner and Berneke promote it and idiot corp republicans are right on board with it too. Obama and the idiot corp republicans are economically illiterate. Berneke and Geithner are bankers and either one of them are smarter than all those politicians combined at least on these issues and either way that means doom for us .
You are right, but you know what I think The republicans and Obama know about this. I don't think these ivy league graduates miss the fact that austerity is hurtful to the economy. I mean even I know that from just reading on the internet. I think they are all complicit.
Where would the money come from? Sooner or later that is what we are going to face here, we are just starting to bleed, sooner or later well have to stop it, will either be collapse or all out civil war here because people own firearms here. They cant in greece or many of those other countries
Exactly. It's one thing to talk about stimulating the economy by taking on debt when you still have some room within your overall debt load/growth expectations to do so. At some point though you get to the level where you simply can't keep digging the hole deeper as your solution for getting out of it.
Thank you
Germany is taking its pound of flesh. It's a matter of politics in a way, because Germans have become more assertive with its neighbors.
Here is an interesting article on it: http://www.foreignpolicy.com/articles/2011/10/14/angela_merkel_germany_eurozone
Stimulating the economy is what is getting everyone into the mess in the first place. You have to stop hitting the patient in the head before you can diagnose the other injuries. http://en.wikipedia.org/wiki/Austrian_Business_Cycle_Theory
This ain't no patient and this ain't no family. That analogy is way overplayed my friend and it is not true.....What got us out of the great depression, which was worst than what we have now(remember unemployment back then was 25%)? You know what got us out. Stimulus. In fact we created a surplus after. Of course we had world war two, which was s driving for for industrialization, but still, even after the war we continued to grow, largely due to government programs................My be the real problem we face today might be that that the economy has reached its limit. GDP will no longer grow in America, unless we look at other forms of growth, such as horizontal growth. Unfortunately this kind of growth is unconscionable to the people in power.
http://www.youtube.com/watch?v=czcUmnsprQI
I am so sick of everyone using "got us out of the great depression" as an excuse for anything. The great depression lasted 10 years! Any solution that, combined with murdering people, takes so fuckin long to work is no solution to me. No more of a solution than to just let things ride out.
the same as an old dying man who is rich holds onto his money past the point of death these bankers think that money is god so they dont stimulate they hoard..like they.....can take it with them...and the world is not changing...if you dont want to be like them...share with your friends.....those are the 2 dynamics sharing.....hoarding
We must ask the right wing to defend that logic.
Raising the retirement age from 52 is disinvesting? Greece was socialism to an extreme.
Screw Greece.
http://overthecoals.blogspot.com/
Job boom plan for America
For the protest to guarantee winning the next election the plan needs to be force the multinationals to buy all their supplies made by American workers. Prevent any imports from China and known slave states from being unloaded. The 13th amendment abolished slavery. Having slave made goods in America is unconstitutional.
Unions should have their own pay scale. Any workers who don't want to join the union will need to negotiate their own pension, their own wages, their own health care.
End all tax deductions or tax credits and use a sales tax to collect taxes so even criminals will pay their taxes. Eliminate the entire IRS which would save $400 billion annually.
To refuse to vote for that platform would be stupid and insane.The privileged keep ripping all the rest of us off and we are morons allowing that to happen. Any person against this plan is sabotaging the OWS protest and needs to be heard. Let's hear any reason to oppose this end globalization screw job.
Winning the next election is not going to fix the fundamental problem in this country or in this world.
Try suicide.
http://overthecoals.blogspot.com/
I'm not surprise by your response. If you can't back up your argument with reason, then start the mud slinging. Classic.
Obama has lied about everything he promised us. I don't care what color the president is if he's making decisions that will benefit all Americans with good job opportunities, fair taxation, and a great energy plan. One lawyer in Dallas told me he wouldn’t take this case because I don’t like Obama. Do all his class action clients like Obama? America has become a bottomless pit of screwball, politically correct nonsense.