We are headed into austerity

Discussion in 'Economics & Trade' started by Kode, Feb 14, 2017.

  1. Kode

    Kode Well-Known Member

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    and it was disastrous for Europe.

    When you cut programs to save money, cut supports for college education, cut supports for the needy, cut education costs by privatizing it, cut Social Security (when it doesn't have any affect on the national debt), you are introducing austerity. It is the wrong way to go, but don't listen to me. Instead, listen to Mark Blyth, political scientist and professor of international political economy at Brown University:

    https://youtu.be/tmmGTyXDcT8
     
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  2. james M

    james M Banned

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    why listen to a libcommie professor when we know communism does not work and in fact slowly starved 120 million to death? Capitalism works. China just switched to it and instantly eliminated 40% of all the poverty on the planet.
     
  3. SMDBill

    SMDBill Well-Known Member

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    Did he happen to mention what happens to federal tax revenues when more people are working within a stronger economy? If not, it's kinda the opposite of austerity...prosperity.
     
  4. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    THE EU GOT IT WRONG

    Indeed, but your frustration seems to indicate that an option was available.

    The EU was doing fine until the Great Recession hit from the US in 2008. With the sudden reduction in Demand in the US, EU suffered high unemployment. Most EU governments were obliged to increase outlays to cover (what were often) massive reductions in employment. Which means to a nation, far less Income from taxation and more outlay as regards support.

    And here is where the EU's "Masters of the Universe" made their colossal mistake. They got the solution really-'n-truly hideously wrong!

    They borrowed even more at high interest-rates to cover the expanded governmental-cost of unemployment subsidies. But also they did not reduce their own expenditure (because that entailed laying-off personnel that were also the adherents of political parties). Parties nowhere in any democracy get reelected when employment goes sour.

    Europe has not been able to make the disconnect between governance and political-affiliation - because its people believe that the latter is necessary to maintain employment. (So many work for governments*) They do not understand that employment is derived directly from Consumer Demand and not government-budgets. European government budgets are mostly dependent upon Consumer Sales and not Income Taxation.

    But, I ask, what can one do? That notion is still prevalent in many minds, especially in the soft southern underbelly of Europe.

    ABOUT THE US (FOR BALANCE)

    America has got its taxation system all wrong, wrong, wrong. (The low taxation simply takes insufficiently taxed billions of dollars of Income, shifts it into Wealth and out of economic-circulation. The money simply sits there on loan earning interest.) Had the US raised got rid of flat tax-rates for the rich and made them progressive, it would have raised revenues. Thus, it could increase also government spending on social services thereby sustaining better the total population (that needs it badly).

    Like a National Health Service that is popular in Europe - far more so than the massive "social rip-off" it is under Privatized Health Insurance in the US. Moreover, American kids would not be graduating with a debt on average of $35K to pay-off necessary for a postsecondary education that is free, gratis and for nothing in Europe. It is for this very reason that tertiary-level graduation rates are so much less in the US than the EU.

    Moreover, more American high-school graduates would be undertaking postsecondary education to obtain the credentials that our Brave New Economy now requires of them.

    Ever since the Old Economy has been hollowed-out by China ... !
     
  5. Lil Mike

    Lil Mike Well-Known Member

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    Where did you hear that Trump was instituting some sort of austerity program?
     
  6. Kode

    Kode Well-Known Member

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    Check again and you will find that the name "Trump" never occurred anywhere in my post. Neither did the words "the President" show up.
     
  7. Kode

    Kode Well-Known Member

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    Well that's a great idea: label a person falsely and very, very negatively, and then refuse to consider anything he may say, thus limiting your own inputs to those of your own bias that you accept.

    This method of shutting out all but that which reinforces your own bias has apparently resulted in your thorough ignorance of what socialism and communism actually are.
     
  8. Daniel Light

    Daniel Light Well-Known Member

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    Personally, I think we going into a period of massive overspending by the government. Trump will just shift the money from social programs to defense projects and other pork. I would be really surprised (and pleased) if the National debt does not double as it did
    under Reagan, Bush and Obama.
     
  9. Lil Mike

    Lil Mike Well-Known Member

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    So what are you talking about? What austerity?
     
  10. lemmiwinx

    lemmiwinx Well-Known Member Past Donor

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    You mean the kind of austerity where they won't let you buy lottery tickets with your EBT card? I believe that sort of thing lead to the collapse of the Roman empire.
     
  11. james M

    james M Banned

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    so there is a college professor at Brown who is not a libcommie?? He'd get fired immediately. So then show us he is not a standard libcommie!!! Do you know why you have to be asked to support your own statement?
     
  12. james M

    james M Banned

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    wiki:
    Austerity: The History of a Dangerous Idea, described by Salon and AlterNet as "necessary reading" and as simultaneously functioning as an economics explainer, a polemic, and a history book offering "insight into austerity’s lineage, its theories, its champions and its failures." Blyth characterized the argument advanced by austerity advocates as "a canard" and "complete horse(*)(*)(*)(*)."[1][2]
     
  13. Kode

    Kode Well-Known Member

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    Do you know why everyone with knowledge sees the ignorance of that?

    "Libcommie"? I've already told you liberals and communists are polar opposites and if you don't want to accept what I say you can easily look it up. Liberals advocate reforms to the capitalist system to make it more "acceptable". Communists want to overthrow it entirely. So there can be no such thing as a "libcommie" and using such a bogus term reveals your complete lack of knowledge on the subject.

    The truth here is that Blyth tells the truth and you as a normal rightie oppose the truth, so you attack him personally with names and character assassinations because you have no valid fact-based opposition.

    - - - Updated - - -

    Where is the "communism" in that? It's a good, valid commentary.
     
  14. AlNewman

    AlNewman Well-Known Member

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    Well he started with "socialism" is different and went downhill from there to just become a blithering idiot. Scientist, wouldn't know science if it was biting him on the butt. Professor, of lies.
     
  15. AlNewman

    AlNewman Well-Known Member

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    I would suggest you stay with Europe, brilliant write-up but when you go where you haven't a clue it shows.
     
  16. AlNewman

    AlNewman Well-Known Member

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    Nice dodge, not buying it. Just who else would be that "you"?
     
  17. AlNewman

    AlNewman Well-Known Member

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    Falsely, that would be your opinion. I would agree just the opposite, that professor is but an ignorant socialist flaunting what he stole.
     
  18. AlNewman

    AlNewman Well-Known Member

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    Knowledge, are you claiming to be Einstein again? Now ignorance would be a different story, a choice to ignore that which is available to be known such as Blyth's admittance to be totally socialistic with no qualm about it at all. That is better known as moral relativism, the sign of a diseased psyche, your hero. So I would say your hearing is very selective as it's all by his own admission.

    Liberals are but wannabe socialist on their way to communism which is really no different than fascist.
     
  19. Econ4Every1

    Econ4Every1 Well-Known Member

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    I'm not arguing for the power of Communism, it has a poor incentive structure, but please learn history. The reason so many people starved to death in Russia had more to do with science denialism than "Communism". For all our capitalism, there is still a lot of science denialism here. For example, vaxers, climate change, and evolution denial? Being capitalist does not make you immune from ignorance. The reason so many people starved in Russia was because they denied genetics.

    More info:
    https://www.youtube.com/watch?v=AK1PnV_xEI8&t=0s

    China has some of the worst working conditions in the world. Most of their workers can't afford the very products they make. Health and environmental issues are HUGE problems in China. China has paid for its progress in human suffering and environmental damage. Capitalism has grown their nation, but at what cost?
     
  20. Deckel

    Deckel Well-Known Member Past Donor

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    College degrees should be made available for free. It doesn't mean that they have to come from Harvard and be taught by Elizabeth Warren pulling down half a million to teach two classes a semester. A lot of the information is redundant to what we already teach in high school. It shouldn't cost better than twice (or more) as much money to teach a college class per student as it does a high school one.
     
  21. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    Is that all you got? Sarcasm?

    Not nearly enough in a Debate Forum.

    Moving right along ...
     
  22. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    What"s a "libcommie"? Anybody who disagrees with you?

    Come on, this is a DEBATE forum. If you haven't got comments better than sarcasm, then keep it to yourself ...
     
  23. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    FOOLS, FOOLS, FOOLS

    Well put. How we ever let postsecondary education get to be so costly that the average American graduate gets their diploma with a $35K debt to repay is beyond comprehension.

    From Time Magazine (Jan. 2016): Why the Student Loan Crisis Is Even Worse Than People Think - excerpt:
    Our passage from the Industrial to the Information Age is historic. Just like in the 19th century when we (both in the US and Europe) progressed from the Agricultural to the Industrial Age. The dislocation in manpower was awesome as people left the rural fields for the better paying jobs in large factories built around cities.

    That same phenomenon is happening again today, and we must awaken our people to face that fact. Hillary and Bernie got it right - Tertiary Education (vocational, 2- & 4-year & more) must be funded by the Federal Government. (As it is now, but not enough - described in the above article.)

    We screwed that one up, didn't we? Donald Dork thinks that he's going to pull back all those jobs that went to the Far East? What baloney!

    He thinks he's going to pull jobs out of his pocket? More baloney! What he is going to do is waste more money on bombs-'n-bullets for the DoD!

    And we fools seem to lap it every time he pulls that line on a media event! Fools, fools, fools. That's what we were and are to believe him ...

    POST SCRIPTUM

    Where did Hillary and Bernie get the idea for a postsecondary subsidy of education for families earning the average wage ($100K for family income). From Europe, that's where.

    We send our kids to university here in France for a tuition of $1K a year plus room 'n board! Vocational training is absolutely free and typically found near home in each state!
     
  24. Econ4Every1

    Econ4Every1 Well-Known Member

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    Yes, throught our history we've increased the number of years we teach students as the amount of information our workers need in order to be competitive has increased. It's clearly time to increase that number to 14 or 16 years.
     
  25. slackercruster

    slackercruster Banned

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    OP, if we can stop the illegals draining our $ and collect the fair share for our bodyguard services to the world...things will be peachy keen!
     

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