Pensacola Discussion Forum
Would you like to react to this message? Create an account in a few clicks or log in to continue.

This is a forum based out of Pensacola Florida.


You are not connected. Please login or register

Pensacola Discussion Forum » Politics » Austerity on Display

Austerity on Display

5 posters

Go to page : 1, 2  Next

Go down  Message [Page 1 of 2]

1Austerity on Display Empty Austerity on Display 4/8/2013, 3:47 pm

Sal

Sal

Contractionary policy is contractionary.

A depressing and familiar plot is developing in Portugal. Having adopted a full package of austerity measures two years ago, the country finds its budget deficit has not closed according to the intended timetable and actually widened last year to 6.4% of GDP. Nor has growth returned. Instead, the economy is expected to contract by a further 2.3% this year and the rate of unemployment stands at almost 18%.

http://www.guardian.co.uk/business/nils-pratley-on-finance/2013/apr/08/portugal-slack-bailout-austerity

2Austerity on Display Empty Re: Austerity on Display 4/8/2013, 4:25 pm

Margin Call

Margin Call

Need. More. Bailout.

3Austerity on Display Empty Re: Austerity on Display 4/8/2013, 4:28 pm

Guest


Guest

Living beyond your means usually leads to living beneath your means... govt math is a bad idea.

4Austerity on Display Empty Re: Austerity on Display 4/8/2013, 4:39 pm

2seaoat



Living beyond your means usually leads to living beneath your means... govt math is a bad idea.


Actually not.....economic theory is well settled that living beyond your means for a period of time when investing in capital projects which expand GDP is far more effective than forced contraction.

This concept that a home mortgage is debt and it must be paid off in 9 months is bad math otherwise is simply bad economics. Balance of long term debt and short term debt and plans to maintain the same are reasonable.

5Austerity on Display Empty Re: Austerity on Display 4/8/2013, 4:44 pm

Sal

Sal

No one important is being hurt and the proles have not yet taken to the streets, so the looting will continue for the time being.

6Austerity on Display Empty Re: Austerity on Display 4/8/2013, 6:35 pm

Margin Call

Margin Call

This is the lesson I've learned from the global economic crisis: bond holders will never get screwed unless an American car company can't pay. Heck, even Hugo Chavez knew who made the rules; he never missed a bond payment even though his country paid very high rates.

7Austerity on Display Empty Re: Austerity on Display 4/8/2013, 6:55 pm

Guest


Guest

Govt growth via debt... this is a good idea... nothing can go wrong... less is more.

Repeat after me: debt is good... debt leads to a more capable more generous govt... debt is our salvation...

Long Live The Debt..!!

8Austerity on Display Empty Re: Austerity on Display 4/8/2013, 8:08 pm

Hospital Bob

Hospital Bob

PkrBum wrote:Govt growth via debt... this is a good idea... nothing can go wrong... less is more.

Repeat after me: debt is good... debt leads to a more capable more generous govt... debt is our salvation...

Long Live The Debt..!!

Debt'liness is next to Godliness

9Austerity on Display Empty Re: Austerity on Display 4/8/2013, 8:15 pm

Margin Call

Margin Call

PkrBum wrote:Govt growth via debt... this is a good idea... nothing can go wrong... less is more.

Repeat after me: debt is good... debt leads to a more capable more generous govt... debt is our salvation...

Long Live The Debt..!!

Wait! What about Reagan?

10Austerity on Display Empty Re: Austerity on Display 4/8/2013, 8:19 pm

Hospital Bob

Hospital Bob

Margin Call wrote:

Wait! What about Reagan?

I enjoyed his acting in Bedtime for Bonzo. But I thought the monkey upstaged him.

11Austerity on Display Empty Re: Austerity on Display 4/8/2013, 8:26 pm

Margin Call

Margin Call

Bob wrote:
Margin Call wrote:

Wait! What about Reagan?

I enjoyed his acting in Bedtime for Bonzo..

Hold on....could that be why they called George W. "the chimp".

12Austerity on Display Empty Re: Austerity on Display 4/8/2013, 8:37 pm

Guest


Guest

They're all chumps is my book... and we are too for buying into it.

13Austerity on Display Empty Re: Austerity on Display 4/8/2013, 8:49 pm

Guest


Guest

The only thing holding back our economic recovery is the private sector... we should nationalize it.

14Austerity on Display Empty Re: Austerity on Display 4/8/2013, 9:30 pm

Hospital Bob

Hospital Bob

This is the situation in Portugal...

"The constitutional court ruled that several measures in the budget were unlawful, including the scrapping of a 14th month of salary for civil servants and retirees".

http://www.hurriyetdailynews.com/fragile-portugal-announces--deeper-austerity-measures.aspx?pageID=238&nID=44498&NewsCatID=344

I couldn't imagine what in the hell that means, and then I found this which is describing Greece...

"Taxes have gone uncollected forever or have been short stopped by corrupt tax collectors. For decades, Greek governments have paid civil servants bonuses for showing up to work on time and 14 months' pay for Christmas. Retirement has averaged at 53 years of age. The other members of the "Club Med," or Club Nearly Dead, include Portugal, Spain and Italy which have soaring costs and gigantic underground, tax free economies."

http://www.huffingtonpost.com/diane-francis/greece-is-not-a-country-i_b_871296.html

It appears that these governments in southern Europe have been routinely paying government employees 14 months pay. And at least in the case of Portugal, it's version of a "supreme court" has ruled that it's unconstitutional not to pay them 14 months pay.

And now we jump across the ocean to back here at home, and this is what we find...

He’s (Obama) backing the idea of changing the inflation formula used to calculate annual adjustments in Social Security benefits, in a manner that would save federal dollars and be less generous to seniors.
The Social Security idea, called the chained consumer price index or "chained CPI," isn't new. Obama has floated it before, as have bipartisan groups seeking ways to curb a risky buildup of national debt.
Economists say using the new formula might mean Social Security checks would go up by about 0.3 percentage points less per year.
It sounds like a little, but the latest news sparked immediate and vigorous push-back from groups seeking to hold the line against entitlement cuts.

http://www.csmonitor.com/USA/DC-Decoder/2013/0405/Cuts-to-Social-Security-What-Obama-is-proposing

But of course, Sal believes it's an ignorant and misguided mindset which does not want all this insanity to continue. His solution is for government to spend even more borrowed money because it's not spending enough.

You just can't make this shit up.


15Austerity on Display Empty Re: Austerity on Display 4/8/2013, 9:36 pm

Guest


Guest

The only thing wrong in those EU pseudo-sovereign counties is that they can't print money anymore. scratch

16Austerity on Display Empty Re: Austerity on Display 4/8/2013, 10:11 pm

Hospital Bob

Hospital Bob

The reason "austerity" doesn't work, is because so much of the economies of these nations has been held hostage to borrowed spending, that any attempt to make sensible changes and try to control the debt spending is of course going to be recessionary.
It's all so out of control now that there is no solution that doesn't result in a lot of pain. Either you keep propping up the artificial economic bubble with this debt spending, OR you curtail the debt spending and deflate the bubble.

We face the same thing here.

17Austerity on Display Empty Re: Austerity on Display 4/8/2013, 11:11 pm

Guest


Guest

PkrBum wrote:The only thing holding back our economic recovery is the private sector... we should nationalize it.

you know we almost have when you think about it. with bail outs, gov potections,picking winners/losers, the gov is fixing(or not) it and protecting it, they just don't own the title.

18Austerity on Display Empty Re: Austerity on Display 4/8/2013, 11:15 pm

Guest


Guest

Chrissy wrote:
PkrBum wrote:The only thing holding back our economic recovery is the private sector... we should nationalize it.

you know we almost have when you think about it. with bail outs, gov potections,picking winners/losers, the gov is fixing(or not) it and protecting it, they just don't own the title.

Control is effective ownership.

19Austerity on Display Empty Re: Austerity on Display 4/8/2013, 11:19 pm

Guest


Guest

PkrBum wrote:
Chrissy wrote:
PkrBum wrote:The only thing holding back our economic recovery is the private sector... we should nationalize it.

you know we almost have when you think about it. with bail outs, gov potections,picking winners/losers, the gov is fixing(or not) it and protecting it, they just don't own the title.

Control is effective ownership.

..............................

Is ownership control effective?

20Austerity on Display Empty Re: Austerity on Display 4/8/2013, 11:30 pm

Guest


Guest

William wrote:
PkrBum wrote:
Chrissy wrote:
PkrBum wrote:The only thing holding back our economic recovery is the private sector... we should nationalize it.

you know we almost have when you think about it. with bail outs, gov potections,picking winners/losers, the gov is fixing(or not) it and protecting it, they just don't own the title.

Control is effective ownership.

..............................

Is ownership control effective?

Not if the owner must seek permission for every decision... except the last one to give up.

21Austerity on Display Empty Re: Austerity on Display 4/8/2013, 11:53 pm

Guest


Guest

PkrBum wrote:
William wrote:
PkrBum wrote:
Chrissy wrote:
PkrBum wrote:The only thing holding back our economic recovery is the private sector... we should nationalize it.

you know we almost have when you think about it. with bail outs, gov potections,picking winners/losers, the gov is fixing(or not) it and protecting it, they just don't own the title.

Control is effective ownership.

..............................

Is ownership control effective?

Not if the owner must seek permission for every decision... except the last one to give up.

..........................................

When we paint with a broad brush the corner comes to us more quickly.

Did you know that Hitler was a pretty decent painter...?




He could do your whole apt. in one afternoon...two coats..!!

22Austerity on Display Empty Re: Austerity on Display 4/9/2013, 12:14 am

Guest


Guest

2seaoat wrote:Living beyond your means usually leads to living beneath your means... govt math is a bad idea.


Actually not.....economic theory is well settled that living beyond your means for a period of time when investing in capital projects which expand GDP is far more effective than forced contraction.

This concept that a home mortgage is debt and it must be paid off in 9 months is bad math otherwise is simply bad economics. Balance of long term debt and short term debt and plans to maintain the same are reasonable.

Austerity on Display 2Q==

What capital projects has the government been investing in heavily that belong and are controlled by the government?

Dams and superhighways?

The space program?

Undersea research and development?

Fusion power research?

*****SMILE*****

https://www.youtube.com/watch?v=wQzUCO7rG0M

Smile




23Austerity on Display Empty Re: Austerity on Display 4/9/2013, 9:00 am

Sal

Sal

Bob wrote:any attempt to make sensible changes and try to control the debt spending is of course going to be recessionary.

Jesus.

So close, but that revelation keeps eluding you.

24Austerity on Display Empty Re: Austerity on Display 4/9/2013, 9:34 am

Hospital Bob

Hospital Bob

Sal wrote:
Bob wrote:any attempt to make sensible changes and try to control the debt spending is of course going to be recessionary.

Jesus.

So close, but that revelation keeps eluding you.


How in the motherfucking name of Christ can something be "eluding me" when I me myself yours truly am THE ONE who just fucking said it.
Of course I understand that. Why in goddam hell do you think I just said it.
Jesus.

25Austerity on Display Empty Re: Austerity on Display 4/9/2013, 9:44 am

Sal

Sal

Bob wrote:
Sal wrote:
Bob wrote:any attempt to make sensible changes and try to control the debt spending is of course going to be recessionary.

Jesus.

So close, but that revelation keeps eluding you.


How in the motherfucking name of Christ can something be "eluding me" when I me myself yours truly am THE ONE who just fucking said it.
Of course I understand that. Why in goddam hell do you think I just said it.
Jesus.

See if you can finish this sentence for me ...

Contractionary policy is __________________ .

Now, try to imagine why that might be troublesome for an anemic economy.

Jesus.

Sponsored content



Back to top  Message [Page 1 of 2]

Go to page : 1, 2  Next

Pensacola Discussion Forum » Politics » Austerity on Display

Permissions in this forum:
You cannot reply to topics in this forum