If all the mosquitoes were to die off, how many frogs would die? The Same principle applies to our financial system. Our economy is just like an ecosystem; you remove a massive part, and all you can do is watch the dominoes fall. Shock therapy on a colossal scale hurts very badly. You need to transition slowly so that it isn’t an avalanche. What we have is a landslide into poverty and ignorance.
How many more austerity incisions must we suffer, which will only further lay waste to our economy and do nothing to close their budget deficit. How long will it take, before people, realize “Hey, this doesn’t work.” In every single country subject to Austerity, growth has come in below expectations and in almost all cases has resulted in negative growth.
The system as applied at present does not work and will not work now or in the future.
Make your voice heard and make it count.
Posted on October 13, 2012, in Government, IMF/ECB and tagged Austerity, Banks, Christine Lagarde, Government budget deficit, Greece, Gross domestic product, International Monetary Fund, Irish, Irish News, Paul Krugman, World Economic Outlook. Bookmark the permalink. Leave a comment.