AUSTERITY – GOOD OR BAD?

Austerity-is-not-working

Are government austerity policies ‘good’ or ‘bad’?
It depends on the ‘cuts’.

“Large budget deficits are a symptom of a government sector that has become over-sized relative to the private sector.”

Forbes

However, governments are usually reluctant to sack civil servants.

According to the UK’s National Audit Office:

“Despite numbers of staff employed by central government falling slightly over the last decade, costs have increased by 10 per cent.

National Audit Office, 2011…

Government austerity polices usually make things worse.The Austerity Delusion | Foreign Affairs

According to John Milios on the subject of Austerity Policies:
1. When a government cuts social services, and wages are held down, the result can be a lowered demand for goods, less money collected in taxes and a downward spiral for the economy.2. However, the rich elite may welcome austerity polices, because the result can be a reduction in the cost of the wages of employees, the bankruptcy of some small businesses, and a greater concentration of wealth in the hands of the big bosses of the big corporations.

Austere.Joseph Stiglitz is the former chief economist at the World Bank.

Joseph Stiglitz has explained that: Europe and austerity have failed Greece

“Austerity had failed repeatedly, from its early use under US President Herbert Hoover, which turned the stock-market crash into the Great Depression, to the IMF ‘programs’ imposed on East Asia and Latin America in recent decades.

“And yet when Greece got into trouble, it was tried again…”Germany was in a mess in the 1920’s because of its large debts.

This led to the rise of Hitler.
Germany was in a mess in 1945, but the Allies gave massive aid to Germany and Germany recovered.
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3 Responses to “AUSTERITY – GOOD OR BAD?”

  1. Lynn says:

    Until we demolish the Federal Reserve we will forever owe the Bankster cabal maffia. Austerity is a made up fraud. Mr Rothschild has made trillions on this ciminal blackmail.

  2. Bluefeather6 says:

    More is collected from the investments that governments take in shares from corporations than is taken from people on income tax. CAFR the greatest swindle in town – you tube or cafr1.com
    Twelve major corporations seen to be paying NO tax
    Daily mail ” Revealed:one in four of the uk’s top companies pay no tax while we give them millions in credits” by Alex Hawkes and Simon Watkins 3/3/2013
    These companies include: experian, RSA insurance, G4S, vodaphone, Rolls Royce Group, IMI, Vedanta Resources, TUI travel, Tate and Lyle, Smiths Group, British American Tabacco …
    I wonder what the value is from the mutual fund investment on each individual birth certificate that Fidelity Investments hold for the government/s. Fidelity being part of the

  3. Bluefeather6 says:

    Continued…
    Vanguard Group Incorporated – possibly?
    Austerity is an illusion.

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