it is possible to grow your way out of debt, ff, just not in the way that you and your leftist pals suggest
also, from 2010 there wasn't austerity

10yrs of trading

I dont need to be an economist to know you cant just print money forever without massive consequences

did it ever get you a nobel prize in economics?

also, "importing 9 million low skilled foreign workers" isn't "growing your way out of debt"

do I need a nobel prize to understand you cant print money forever?

much as labour would like it otherwise, Keynesian economics was never about increasing public spending

Here wacka read this from Krugman http://web.mit.edu/krugman/www/crises.html

he also states the economy has suffered from austerity since 2010... the economy has grown quite well actually since then

Also, there wasn't austerity from 2010 - public spending went up every year

Austerity is a fucking myth

you could argue there was austerity because it didnt outgrow inflation

OKay let me try one more - https://www.imf.org/external/pubs/ft/fandd/2016/06/ostry.htm

from the IMF itself

but if they went on a printing spree like this guy is suggesting, inflation would outweigh spending EVEN MORE

yeah, this printing spree is going to fuck over everyone who ever did the right thing

fuck over everyone who lived within their means and tried to save to protect themselves against this type of disruption

that's why we shouldn't just be handing out cash to companies without demanding a slice of their shares in return

The printing money is not just printing money for no reason. Its to invest in industries and create the environment for the economy to thrive. not to give it out and throw it around

geez you guise are fucking morons

Eccles you need to stop trying so hard

that's not what labour et all had been suggesting, ff

muhhgreenrevolution!

it's bullshit

cope

Yeah Labour wanted to invest in new industries to create new jobs. It might be hard to hear this but those are the facts buddy but because you hate *leftists* so much its no wonder you think this way

when the IMF study concludes austerity was bad you guise think you're smarter than them

the people who fund the world in a way know less than you guise in a discord server

actually this guy is stating specifically " increase government spending both to create jobs directly and to put money in consumers’ pockets" ... not banks

yes which is what we need, we need to develop more industries and create more jobs

not fund the same corporations and bail out the same industries over and over again

the private sector is better at that than the gov

specially in the long term

lol

RE: Greece

like what, ff?

I wonder if this guy has changed his mind now...

he agrees you cant be in deficit forever... and he couldnt have predicted this pandemic...

However, there are aspects of the neoliberal agenda that have not delivered as expected. Our assessment of the agenda is confined to the effects of two policies: removing restrictions on the movement of capital across a country’s borders (so-called capital account liberalization); and fiscal consolidation, sometimes called “austerity,” which is shorthand for policies to reduce fiscal deficits and debt levels. An assessment of these specific policies (rather than the broad neoliberal agenda) reaches three disquieting conclusions:

•The benefits in terms of increased growth seem fairly difficult to establish when looking at a broad group of countries.­

•The costs in terms of increased inequality are prominent. Such costs epitomize the trade-off between the growth and equity effects of some aspects of the neoliberal agenda.­

•Increased inequality in turn hurts the level and sustainability of growth. Even if growth is the sole or main purpose of the neoliberal agenda, advocates of that agenda still need to pay attention to the distributional effects.­

even if he thinks he was right at the time... perhaps his argument now would be that we "accidentally made the right decision"

also this guy seems like a bit of a fascist