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The Complete Failure Of Austerity, In 1 Chart

fmw said:
That's what you think. It isn't what I think.
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Who cares what you think?

You have a very limited understanding of political economy.
 
Kushinator said:
Who cares what you think?

You have a very limited understanding of political economy.
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Obviously you don't. I guess I owe an explanation. I understand what the technical definitions are for a recession. The problem is that I don't accept them because I continue to see a lousy economy since 2007. In the same way that you might question what some people in government say, I question nearly everything the government says. I'm well aware of economics and have studied it at the college level. But you won't convince me that the economy has recovered from anything because it hasn't.
 
fmw said:
Obviously you don't. I guess I owe an explanation. I understand what the technical definitions are for a recession. The problem is that I don't accept them because I continue to see a lousy economy since 2007. In the same way that you might question what some people in government say, I question nearly everything the government says. I'm well aware of economics and have studied it at the college level. But you won't convince me that the economy has recovered from anything because it hasn't.
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If you went to college level econ courses, you ought to know that recession only refers to GDP, not the whole economy.
 
fmw said:
Obviously you don't. I guess I owe an explanation. I understand what the technical definitions are for a recession. The problem is that I don't accept them because I continue to see a lousy economy since 2007. In the same way that you might question what some people in government say, I question nearly everything the government says. I'm well aware of economics and have studied it at the college level. But you won't convince me that the economy has recovered from anything because it hasn't.
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The economy is growing, which is simply a matter of fact. Is it growing fast enough??? Nope!

Are we better off than we were 5 years ago? You bet we are.
 
Fisher said:
Non-Austerity would not have made the debt any lower because--brace yourself--poor people are not the ones paying the bulk of the taxes :shock:
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Since austerity limits growth, it limits tax revenues. Stimulus stimulates demand, thus creating growth, thus creating more tax revenues.

We ran this experiment in the wake of the Bush Meltdown. Europe lost. The US won. Keynes is proved right again.
 
Fisher said:
I understand what austerity is. I support it. We need more of it.
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Yeah, look what it did for the UK economy. Nothing like a double dip recession to prove the "success" of conservative economic policy.

economic-growth-uk-ons-quarter2.png
 
head of joaquin said:
Since austerity limits growth, it limits tax revenues. Stimulus stimulates demand, thus creating growth, thus creating more tax revenues.

We ran this experiment in the wake of the Bush Meltdown. Europe lost. The US won. Keynes is proved right again.
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If we can continue to stimulate without the interest rate or inflation sky rocketing, than we really shouldn't be worrying about the debt to the extent the country is. It's just easy for people to look at 16 trillion something in debt and get scared.
 
ecofarm said:
I presume that without austerity those lines would be more sharply inclined.
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You mean like non-austerity in the US? Where Debt to GDP is skyrocketing out of control? Saying austerity doesn't work when you don't know what the outcome would be without it is silly and weak minded.

fredgraph.png
 
JayGatsby said:
If we can continue to stimulate without the interest rate or inflation sky rocketing, than we really shouldn't be worrying about the debt to the extent the country is. It's just easy for people to look at 16 trillion something in debt and get scared.
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It's all a function of GDP. The nice thing about having the largest economy in the world is that, even slow growth adds up to a lot more tax dollars.

But the key is growth, not fiscal policy. The tea party is looking through the wrong end of the telescope, which is their constant perspective in life.
 
Kushinator said:
Nope!

The recession ended more than 4 years ago. The recovery has been sluggish, but that is to be expected following a severe financial crisis.
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See post above, we are F'ed in the A's for a long time. If you can't see that, I want what your smoking so the depression of what is happening to my savings doesn't kill me.
 
head of joaquin said:
It's all a function of GDP. The nice thing about having the largest economy in the world is that, even slow growth adds up to a lot more tax dollars.

But the key is growth, not fiscal policy. The tea party is looking through the wrong end of the telescope, which is their constant perspective in life.
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The only thing that is growing is the gov't debt, and that debt counts toward GDP even though they add nothing of value we can sell. You call that growth? The Fed can't stop printing now, the whole financial system relies on them, so I am really excited to see how this plays out.

Why do I bother explaining this to a babbling troll? Because I am bored at the moment.
 
JayGatsby said:
If we can continue to stimulate without the interest rate or inflation sky rocketing, than we really shouldn't be worrying about the debt to the extent the country is. It's just easy for people to look at 16 trillion something in debt and get scared.
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LMAO, stimulate my taint area, it could use some after that wishful thinking.
 
JRSaindo said:
The only thing that is growing is the gov't debt, .
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Psst: making patently false statements that parrot tea party lunacy does not make you look good. But they do make you look like a tea partier.
 
JRSaindo said:
The only thing that is growing is the gov't debt, and that debt counts toward GDP even though they add nothing of value we can sell. You call that growth?
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Can you please explain this to me, I'm not sure what you mean?
 
A debt problem is not the result of austerity, austerity is the result of a debt problem. It is what happens when you run out of other people's money.
 
Kushinator said:
So inducing a recession would be a good thing? I do not expect more than a 15 word response. None the less, give it your best!
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Only in the sense that it could produce the desired outcome of a paradigm shift. How else are you going to enact brutal polices?
 
rabbitcaebannog said:
Only in the sense that it could produce the desired outcome of a paradigm shift. How else are you going to enact brutal polices?
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Social, political, and economic Darwinism is not a desirable outcome.
 
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