Debts and the Eurozone

A place for serious discussion on any non-religious topic
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A place for serious discussion on any non-religious topic

Re: Debts and the Eurozone

Postby GregB » July 9th, 2015, 4:25 pm

One of the cornerstones of Keynesianism is high government spending. How can a government with no tangible financial assets and which has squandered the previous bail-out loans possibly inject more money into a failed economy, the industrial sector of which has been in meltdown since 2008 and has never revived? (And just printing more money is no valid option in the long term.) So, if austerity is not the solution and neither is Keynes, where do we go from here? Well, the last thing that is needed, at any rate, is some kind of doctrinaire ultra-radical populist administration, which is the kiss of death to economic growth and capital investment, as Eastern Europe demonstrated from 1945 to 1989 and which current basket cases like Venezuela demonstrate now.
"I hate reality but it's still the best place to get a good steak."
- Woody Allen
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