Austerity Bites

Bonestorm

Thrillhouse
Dumbasses:

Britain could be on course for its third recession in four years after the economy shrank 0.3% in the last three months of 2012.

The figures were worse than expected and could put pressure on the government to consider a "plan B" that would stimulate demand.

A fall in manufacturing output dragged down the economy, countering a small rise in construction between October and December, according to the Office for National Statistics. The economy achieved zero growth for the year as a whole.

Sterling dived on the news, reflecting fears the UK will lose its AAA credit rating and status as a haven economy, though the stock market shrugged off the news, remaining at a four-year high.

George Osborne said he would not "run away" from the problems facing the UK economy: "We have a reminder today that Britain faces a very difficult economic situation. A reminder that last year was particularly difficult, that we face problems at home because of the debts built up over many years and problems abroad with the eurozone, where we export most of our products, in recession."


Of course, we all know the only appropriate policy response: more austerity!


http://www.guardian.co.uk/business/2013/jan/25/uk-triple-dip-recession-gdp
 
It's almost as if austerity doesn't work, and actually makes things worse. But this is very puzzling because when I sit at my kitchen table and am short money, I don't spend more I spend less!
 
It's almost as if austerity doesn't work, and actually makes things worse. But this is very puzzling because when I sit at my kitchen table and am short money, I don't spend more I spend less!

If you had $30k in debt, you made $40k per year and spent $45k per year... which is going to strengthen your financial position:

1) spending $50k per year
2) spending $39k per year

yeah... we can't keep over spending. When you do... sooner or later you have to PAY for it. In the case of governments, it may be a future generation is left holding the bag.

Those that look at austerity measures and cry 'but they are hurting'... are simply focused solely on the short term. They never look to the long term benefits.
 
If you had $30k in debt, you made $40k per year and spent $45k per year... which is going to strengthen your financial position:

1) spending $50k per year
2) spending $39k per year

yeah... we can't keep over spending. When you do... sooner or later you have to PAY for it. .

LMAO

Wow. I was just playing dumb in my post.
 
Does "austerity" mean that Obama will give a smaller raise to the entire Federal work force next year....? thats gonna suck.
 
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