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Andy Peters
03/03/12 19:34
Read: 317 times
Tucson, Az
USA


 
#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.

Kai Klaas


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.

-a

List of 21 messages in thread
TopicAuthorDate
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      

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