Comments on: The age of austerity is ending Sat, 03 Jan 2015 16:42:55 +0000 hourly 1 By: rikfre Wed, 06 Mar 2013 18:47:56 +0000 happy days are here…can you spare $20 for a cup of Starbucks..?

By: agsocrates Wed, 06 Mar 2013 01:03:23 +0000 I hope you are wrong, a return to unsustainable budget trajectories will create a very dark future within the next ten years. Without some budget controls the EU will split up. Germany cannot give Italy endless bailouts, and the bond market status quo is unlikely to continue. And in the US, the cuts from sequestration will cause pain because they were designed to. The White House can leverage this for political gain all it wishes, but that does not change the fact that these cuts are only a meager step towards debt stabilization. If you think things are bad now, wait until the fed has no choice but to raise interest rates. Then we will have to drastically raise taxes and deeply cut social benefits just to pay the bond holders, many of which are pension funds and ordinary citizens.

Oh, and for Merkel, another Euro crisis would be better politically then putting Germany on the tab for bailing out countries with lower taxes and better benefits then the Germans get.

By: OneOfTheSheep Sat, 02 Mar 2013 21:45:15 +0000 @tmc,

It has been said that those who complain without suggestions for improvement waste of everyone’s time. That’s why most of my posts suggest at least one “way forward”.

To paraphrase another saying, “you can present a person with wisdom, but you can’t make them “think”. That part of any “solution” only they can initiate.

I have long been amazed at the lengths people will go to avoid making and being responsible for personal choices. Even not making a decision has effect(s), some good, some bad.

By: keebo Fri, 01 Mar 2013 17:31:55 +0000 This guy preaches to the choir of relativist thinkers in that there is no morality to human interaction – only manipulation. I think however that manipulation only goes so far before normal people wise-up to it. Less intriguing but more honest is to have people get what they have earned. They do not feel tricked and begin to rely on honest dealings and may treat others the same. I know this sounds pollyannaish but if pundits would not write of alternative quick fixes that are equally so some headway might be made.

By: satori23 Fri, 01 Mar 2013 17:17:42 +0000 policymakers should be building public hydroponic gardens where people can grow/pick food for free, they should set decent minimum wage on global scale and reduce working hours, they should deliver 3d-printers and free internet to each household…, and generally get their act together.

current administration, on global scale, deserves to be fired.

By: reality-again Fri, 01 Mar 2013 16:21:54 +0000 “Being more religion than science, optimistic economic prediction is as good as any, but it seems to me that the initial collapse was a fore-shock and not rupture.”

@ConstFundie, you’re spot on.

The author of this article is a devout optimist who preaches optimistic economics in various forms.
As far as Europe is concerned, the problem has crossed the line between economics and politics. In other words, there is no combination of fiscal and monetary policies that any EU member country or EU organization can implement that would save the euro currency or prevent the euro zone from breaking apart.
That have have been possible two years ago, but it no longer is.
It’s time for major political corrections in Europe, and the results of the Italian elections offer a clue about where things are going.

By: satori23 Fri, 01 Mar 2013 16:09:55 +0000 regressive social engineering>curiouser and curiouser deflation>austere rise of the debt>self-immolation >compulsory labour>protests>food banks>global maelstrom…

it’s all for the best…

till later,

By: tmc Fri, 01 Mar 2013 14:18:45 +0000 You’re right @OOTS, it is unsustainable. No question about that. But we still don’t have an answer. The US was able to soften the blow of the ’07 financial collapse. Other countries were not so lucky. Due to their situation austerity was really the only immediate option as other solution would take longer, as they have. I too believe Anatole to be overly optimistic, bordering on a “confidence man”, but I don’t think so. I think he is honest and forthright with his opinions. So, looking at the results of applying austerity across various nations has show that it has significant side effect that honestly if applied in the US would be disastrous. Joe and Jose Sis-pack tend to get violent when someone tries to take something away form them, or if they feel slighted in any way. Think about it @OOTS, read the comments on the main stream media sites on any article on race, guns, religion, and immigration and see the out-right animalistic violence they exude. I think we should come up with a different plan. One that keeps Joe and Jose off the trigger, and Bible-thumping gun toting rednecks with a full six-pack and something to shoot beside me.

By: Pete_Murphy Fri, 01 Mar 2013 11:35:09 +0000 More surprising than the general acceptance of ever-higher debt loads is how deficit spending, as a means of stimulating the economy, seems to be losing its potency. For all of the deficit spending and all of the quantitative easing by central banks, the global economy still teeters on the brink of recession.

By: satori23 Fri, 01 Mar 2013 07:21:25 +0000 There’s certainly need for structural change. Top-down would be better than bottom-up approach though. It’s a poor set-up nevertheless… competitiveness; who with the right mind would compete in the race to the bottom and what sort of market awaits us there? We’ll need to do better than that…

Germans are basking in crisis; now they expect far away markets to pick the tab for failed European experiment. Poor bet… those pollsters (ZEW) should get off the euphoriants.

In actuality lemmings don’t jump off the cliffs… US administrators do.

Take care,