World Economy on the Brink of Disaster?

And in tonight's Daily Take...economic austerity and anorexia have more in common than you may think. I'll let you know how they're similar and how to cure a "recession."

Category:

News & Politics

Tags:

• Mitch Daniels
• State of the Union
• Barack Obama
• Mitt Romney
• Austerity
• Capital Gains Tax
• Thom Hartmann
• Big Picture

[bamboo4tameshigiri]

You may not be able to cut your way to prosperity, but you can debase your currency into collapse.

[elboertjie]

If debt is the problem, more debt is not the answer. Stop spending money that does not exist.

[xsilvertigerx]

If you spend more money you will have more growth but be much deeper in debt. For every 100 dollar you spend you will have $40 in growth. So, yes the economy will grow but you will be $60 deeper in debt. And when you stop spending the economy will go back to to now it started.

So, spend more money will never get you out of debt.

[xsilvertigerx]

If the government is in debt over a tillion a year. You do not have to cut one tillion dollar . You need to cut 1.3 tillion to balance the budget because the economy will have less money. That is the only way to have a sound economy.

If you want growth the only way is to have more regular people start up new business. Because of all the fees, licences, laws, and lawsuits, most people can not start a new business even if they have a great idea now.

[MrAdvancedAtheist]

"Austerity" means going back to the living standards we had a few years ago, like, say, in the 1980's. Does that sound so horrible?

[sirellyn]

These guys don't understand what austerity is supposed to mean. It means balance your budget, right away.

If you were in debt 100k and overspent by 4k every month, but then slowly cut back $50 every month, and did so on the few things that were healthy for you. You too would say:

"Wow this debt cutting is painful and it's not doing anything."

[flake452]

Thom the riots were nothing to do with the cuts, they were just scumbags rioting most of them were poor but most thugs are, there was some girl who's dad was a millionaire in the papers. Nothing to do with cuts they did it because they knew they could.

[WilhelmDrake]

@segomil

The Euro nation are not in good shape.

[1980albatros]

@bamboo4tameshigiri couldn't say it any better myself.

[bamboo4tameshigiri]

@Tarkan123456 "Austerity" is the act of protecting the oligarchy/monarchy from the people as they crush the people to preserve the wealth and power of the plutocrats. That is the honest truth.