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Spending as a long-term strategy, austerity as a long-term one
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Posted by buzz on 2012-08-01 14:12:20

In Reply to: No, austerity will NOT bring you out of a recession, quite the opposite posted by DC Warrior on 2012-08-01 06:29:47

I think it is two different things, really.

Yes, the global economy needs a short-term stimulus, but long-term expenditures need to be curbed in Western nations. They will soon no longer have such a position of privilege over many in the developing world, and the inherent economic advantages that privilege brings.

Perhaps more importantly, most will also have aging populations that are more dependent on government expenditures over a longer period in retirement.

We are looking at a vastly different economy operating under vastly different circumstances in the not-too-distant future.

Adapt or perish.

Thread:

No, austerity will NOT bring you out of a recession, quite the opposite - DC Warrior 2012-08-01 06:29:47 (59 views)

Spending as a long-term strategy, austerity as a long-term one - buzz 2012-08-01 14:12:20 (51 views)

Either the US will become FAR more socialistic, or society will unravel beyond our imaginations - playmaker 2012-08-01 16:32:36 (37 views)

Ultimately, I think we will just expand coverage on basic services - buzz 2012-08-01 23:51:28 (31 views)

It's hard for a lot of people to swallow, but "retirement" isn't going to be what it once was. - Dick Nikon 2012-08-01 15:18:29 (44 views)

We can hire the elderly to play Words with Friends for us! - playmaker 2012-08-01 16:35:06 (31 views)

Not by itself, but spending and stimulus will definitely not. - gsw_hoops 2012-08-01 08:50:07 (38 views)

WRONG. We had our own Great Depression,Argentina recently abandoned Austerity - rem rehab 2012-08-01 10:48:03 (42 views)

I can show you an article that says something a little - gsw_hoops 2012-08-01 12:11:29 (37 views)

Why havnt you answered my Obama taxes question? - Hoser 2012-08-01 09:30:23 (34 views)

I did. WTF is wrong with you. What an idiot. - gsw_hoops 2012-08-01 12:09:37 (25 views)

You did not, you lying coward - Hoser 2012-08-01 16:54:22 (33 views)

Even though it has every time before. - playmaker 2012-08-01 09:27:39 (31 views)

No, it hasn't. - gsw_hoops 2012-08-01 12:05:14 (28 views)

So what do you think is the reason for the almost universal call for austerity on the right? - nomad 2012-08-01 07:52:00 (46 views)

Since when is getting one's fiscal house in order controversial? - gsw_hoops 2012-08-01 08:48:42 (42 views)

too bad your party nixed a 10-1 spending cut to tax raise deal earlier - gribble the mispost master 2012-08-01 09:12:46 (35 views)

note that almost no economists are saying what you are saying - DC Warrior 2012-08-01 09:10:58 (39 views)

US Debt: $15.8 trillion. Held by public: $11T, intragovernmental: $4.8T - nomad 2012-08-01 09:24:17 (37 views)

Another US debt fact: When Republicans controlled Congress & the Presidency, it increased $2T+ - nomad 2012-08-01 09:52:42 (32 views)

Focus: Very few Republicans back then were Conservative, - gsw_hoops 2012-08-01 12:08:25 (39 views)

I'm implying that they can't be trusted. - nomad 2012-08-01 12:18:16 (34 views)

Simple combination of greed and ideological opposition to government IMO - playmaker 2012-08-01 08:15:05 (34 views)

Austerity is code for laissez faire. - Cohan sold the Dubz! 2012-08-01 08:05:57 (42 views)

no, it's not. at all. You can be austere AND heavily regulated. - DC Warrior 2012-08-01 09:00:44 (37 views)

Technically, yes. But not in this environment. - Cohan sold the Dubz! 2012-08-01 11:56:18 (40 views)

Austerity means a weaker government - Zaphod 2012-08-01 09:36:50 (39 views)

depends. Most of the spending the US and European governments have today are entitlements - DC Warrior 2012-08-01 09:49:47 (35 views)

in the US, it's political - DC Warrior 2012-08-01 08:01:59 (48 views)

It will be interesting to see how France does. New financial transaction tax starts today - nomad 2012-08-01 08:36:19 (88 views)

That needs to happen worldwide - gribble the mispost master 2012-08-01 09:11:16 (33 views)

Agree. All the counterarguments I've read seem quite weak. - nomad 2012-08-01 09:25:33 (32 views)

The counter arguments are: Noooo! I still want to make free money while - gribble the mispost master 2012-08-01 10:24:44 (37 views)

zero liability and risk? Against billions in trading losses if someone screws up? - DC Warrior 2012-08-01 10:40:51 (36 views)

I am talking about high-speed (frequency) trading. - gribble the mispost master 2012-08-01 10:50:07 (33 views)

who are they stealing from? - DC Warrior 2012-08-01 11:16:30 (40 views)

This 'steals' from everybody - gribble the mispost master 2012-08-01 11:50:12 (36 views)

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