Austerity does not work in desperate economic times. You must trim back during a boom.
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What austerity? Greece hasn’t cut shit.
They were fucked no matter what they did. The time for repentance is before your lungs are breathing in the water…
Classic “the time for repentance is b4 your lungs are breathing water.”
i do seem to remeber Greece trying to implement some cut backs and collecting taxes through electricity bills.
still though austerity is not for lumpy or non existent economy.
cutting back during a boom is a sure fired way to not get re-elected.
when time are good you can cut back from many areas to add up into something material….
also we must take into account clinton raising taxes during a boom time and it did not stop momentum or hiring.
bush on the other hand lowered taxes and gave incentives, but the economy kept tanking.
so i think the article is on point
European austerity is a myth.
http://www.cato-at-liberty.org/paul-krugman-and-the-european-austerity-myth/