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|#186399 - austerity|
Responding to: Kai Klaas's previous message
Kai Klaas said:
...crooked politicians and many of the rich upper class ruined Greece. Now the little guy on main street shall tighten his belt...
Greece has given the world so much by their mathematicians, philosophers, etc. It's a shame that this country with these friendly and gracious people ends like that.
What I've found unfathomable is that the austerity being demanded of the Greeks affects most those who really had nothing to do with the current debt crisis. And as has been pointed out by many economists, firing workers and reducing the salaries of those who still have jobs cannot possibly solve a debt problem. If people aren't working, they're not earning, and as such not spending, so the economy cannot grow. Similarly. if you're in fear of losing your job, or your salary has been cut, you're less likely to make any non-essential purchases, and again, the economy cannot grow.
The entire austerity argument does not make sense to this engineer.
What really concerns me is that some American politicians think that the best way to grow the economy here is to reduce the number of public-service workers, and to eliminate employment protections. Again -- the less you earn, the less you can spend. Inflation hasn't been a problem in a generation, so that can't be it.
Oh, wait, if you reduce worker salaries to the bone, the corporation's profits increase. Oh, yeah. Right.
|Greece Crisis||Satish S Munot||02/29/12 13:06|
|when||Erik Malund||02/29/12 14:42|
|do you mean||AP Charles||05/19/12 00:24|
|Well, ...||Andy Neil||02/29/12 15:33|
|Insufficiant effort||Satish S Munot||03/01/12 00:12|
|war?||Stefan KAnev||03/01/12 02:13|
|war wouldn't solve the problem||Richard Erlacher||03/01/12 06:58|
|War?||Per Westermark||03/01/12 07:22|
|Capital of Greece?||Murray R. Van Luyn||04/29/12 03:06|
|As always...||Kai Klaas||02/29/12 16:23|
|Devaluation of money||Per Westermark||02/29/12 17:01|
|That's exactly the solution ... however ...||Richard Erlacher||02/29/12 20:33|
|Social progress and change is often slow||Per Westermark||03/01/12 03:01|
|(SP)Stander & Poor Ratting||Satish S Munot||03/01/12 10:49|
|return to the Drachma will be cathastrofic||Stefan KAnev||03/01/12 11:38|
|??||Kai Klaas||03/01/12 13:30|
|You are right,Kai||Stefan KAnev||03/02/12 00:27|
|I don't agree||Oliver Sedlacek||03/02/12 04:39|
|austerity||Andy Peters||03/03/12 19:34|
|from what I've gleaned from the news ...||Richard Erlacher||03/04/12 08:20|
|New Testament||John D. Maniraj||03/06/12 08:25|