> Journalists keep referring to the years of “austerity” that Greece has endured.
> Journalists keep referring to the years of “austerity” that Greece has endured. Government spending has been cut so much that it is now only 58.5 percent of GDP (heritage.org). It seems a little misleading to say this. Greece's GDP has tanked since 2008, why would you expect spending/GDP to fall even if they made cuts? Worse, in countries with any kind of safety nets, plummeting GDP (and thus rising unemployment) means more people will take advantage of expensive government social services. There is simply no way to cut your way out of debt in a deep recession when you already have high debt. See also Krugman's posts here: http://krugman.blogs.nytimes.com/2015/07/07/debt-deflation-i... http://krugman.blogs.nytimes.com/2015/07/07/milton-friedman-...
Posted by Amezarak on Jul 9, 2015, 3:52 PM
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Here in Argentina we are in permanent summer time GMT-3 since a long time, but we should be in GMT-4.
NewYou should do some basic research yourself.
NewWell, actually not.
NewI have a 2022 mini that I use constantly.
NewTwo observation: 1.
NewCautiously optimistic for them.
NewI have two televisions - living room TV with an AppleTV and bedroom TV with some Roku device.
I hate that they claim the pricing like that.
> Journalists keep referring to the years of “austerity” that Greece has endured.
> Journalists keep referring to the years of “austerity” that Greece has endured. Government spending has been cut so much that it is now only 58.5 percent of GDP (heritage.org). It seems a little misleading to say this. Greece's GDP has tanked since 2008, why would you expect spending/GDP to fall even if they made cuts? Worse, in countries with any kind of safety nets, plummeting GDP (and thus rising unemployment) means more people will take advantage of expensive government social services. There is simply no way to cut your way out of debt in a deep recession when you already have high debt. See also Krugman's posts here: http://krugman.blogs.nytimes.com/2015/07/07/debt-deflation-i... http://krugman.blogs.nytimes.com/2015/07/07/milton-friedman-...
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