There are, but the seriousness of these ill effects varies and is highly circumstantial. If you want to plunge the economy into a depression, you have to make the case that inaction would be worse, and your argument has to take into account the flexibility offered by modern monetary theory. Otherwise, nobody is going to take you seriously. If only you guys could perform this very simple task, you might be able to achieve your objectives for once.Mr. Perfect wrote: So are you under the impression there are no ill effects on any level of government debt?
The Wonders and Magic of Austerity
- Zack Morris
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- Location: Bayside High School
Re: The Wonders and Magic of Austerity
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Re: The Wonders and Magic of Austerity
I don't know, according to Ammianus we are winning, ie austerity is in place everywhere and all we have negative to show for it is a really mild recession in GB. You may have to clear some things up with him.
Censorship isn't necessary
Re: The Wonders and Magic of Austerity
I'll give it a shot...
- Austerity: n. When your creditors turn off the spigot.
- This works out well for the debtors, as they can then blame the consequences on their creditors.
Re: The Wonders and Magic of Austerity
"Neither a borrower nor a lender be . . . " —Shakespearecdgt wrote:I'll give it a shot...
- Austerity: n. When your creditors turn off the spigot.
- This works out well for the debtors, as they can then blame the consequences on their creditors.
"Owe no man anything . . " —St. Paul
"The borrower is slave to the lender . . " —Solomon
"Modern monetary policy" is a farce, a violation of common sense.
"The jawbone of an ass is just as dangerous a weapon today as in Sampson's time."
--- Richard Nixon
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"I consider looseness with words no less of a defect than looseness of the bowels."
—John Calvin
--- Richard Nixon
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"I consider looseness with words no less of a defect than looseness of the bowels."
—John Calvin