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azulmagia
N3bu
azulmagia
N3bu
I know Austerity is harmful, is sure as hell isn't a good thing. The only reason to use it is when the government physically runs out of money...


Say whaaaaaat? rolleyes

Ok, bit over the top.
Specifically in Greece's case they have been running structural deficits by providing significant public services with lower tax rates (partly because the region isn't super rich). They cannot borrow that money indefinitely unless they can prove they can pay that interest indefinitely (which they no longer can).

So either they cut spending to meet tax levels or they tap out their borrowing and have to prioritise where they send their limited tax dollars. Either way the Greek budget enters a form of Austerity.


There is so much government, private sector, consumer, student loans, and even credit cards made in the name of pets that the entire Etch-a-Sketch of debt should be given a vigorous shake.

I'm not sure I understand what you mean.
N3bu
azulmagia
N3bu
azulmagia
N3bu
I know Austerity is harmful, is sure as hell isn't a good thing. The only reason to use it is when the government physically runs out of money...


Say whaaaaaat? rolleyes

Ok, bit over the top.
Specifically in Greece's case they have been running structural deficits by providing significant public services with lower tax rates (partly because the region isn't super rich). They cannot borrow that money indefinitely unless they can prove they can pay that interest indefinitely (which they no longer can).

So either they cut spending to meet tax levels or they tap out their borrowing and have to prioritise where they send their limited tax dollars. Either way the Greek budget enters a form of Austerity.


There is so much government, private sector, consumer, student loans, and even credit cards made in the name of pets that the entire Etch-a-Sketch of debt should be given a vigorous shake.

I'm not sure I understand what you mean.


I'm certain you don't understand what I mean.
azulmagia
N3bu
azulmagia
N3bu
azulmagia
N3bu
I know Austerity is harmful, is sure as hell isn't a good thing. The only reason to use it is when the government physically runs out of money...


Say whaaaaaat? rolleyes

Ok, bit over the top.
Specifically in Greece's case they have been running structural deficits by providing significant public services with lower tax rates (partly because the region isn't super rich). They cannot borrow that money indefinitely unless they can prove they can pay that interest indefinitely (which they no longer can).

So either they cut spending to meet tax levels or they tap out their borrowing and have to prioritise where they send their limited tax dollars. Either way the Greek budget enters a form of Austerity.


There is so much government, private sector, consumer, student loans, and even credit cards made in the name of pets that the entire Etch-a-Sketch of debt should be given a vigorous shake.

I'm not sure I understand what you mean.


I'm certain you don't understand what I mean.

Well your use of the term Etch-a-sketch and vigorous shake are uncommon so I'm truly baffled as to what your saying.

All I know is you what to *insert verb* to *insert adjective* debt.
N3bu
azulmagia
N3bu
azulmagia
N3bu

Ok, bit over the top.
Specifically in Greece's case they have been running structural deficits by providing significant public services with lower tax rates (partly because the region isn't super rich). They cannot borrow that money indefinitely unless they can prove they can pay that interest indefinitely (which they no longer can).

So either they cut spending to meet tax levels or they tap out their borrowing and have to prioritise where they send their limited tax dollars. Either way the Greek budget enters a form of Austerity.


There is so much government, private sector, consumer, student loans, and even credit cards made in the name of pets that the entire Etch-a-Sketch of debt should be given a vigorous shake.

I'm not sure I understand what you mean.


I'm certain you don't understand what I mean.

Well your use of the term Etch-a-sketch and vigorous shake are uncommon so I'm truly baffled as to what your saying.

All I know is you what to *insert verb* to *insert adjective* debt.

An etch-a-sketch is a child's toy used to draw pictures; shaking the etch-a-sketch erases the picture. So he's most likely advocating for the elimination of all debt.
Oidin
N3bu
azulmagia
N3bu
azulmagia
N3bu

Ok, bit over the top.
Specifically in Greece's case they have been running structural deficits by providing significant public services with lower tax rates (partly because the region isn't super rich). They cannot borrow that money indefinitely unless they can prove they can pay that interest indefinitely (which they no longer can).

So either they cut spending to meet tax levels or they tap out their borrowing and have to prioritise where they send their limited tax dollars. Either way the Greek budget enters a form of Austerity.


There is so much government, private sector, consumer, student loans, and even credit cards made in the name of pets that the entire Etch-a-Sketch of debt should be given a vigorous shake.

I'm not sure I understand what you mean.


I'm certain you don't understand what I mean.

Well your use of the term Etch-a-sketch and vigorous shake are uncommon so I'm truly baffled as to what your saying.

All I know is you what to *insert verb* to *insert adjective* debt.

An etch-a-sketch is a child's toy used to draw pictures; shaking the etch-a-sketch erases the picture. So he's most likely advocating for the elimination of all debt.

Oh.

Well, I'm not sure how much that would fix. It's an idea for sure, but the ramifications can be quite significant. I'm sure many would rush to ensure me that all creditors are blood sucking rich people who don't pay a dime in taxes, but I feel fairly sure the system is a little more complicated then that and that debt erasure would probably hit a lot of average people too.

With any singular country it has the same effect of refusing to pay, which just wipes around your borrowing abilities, to be more effective it would have to be world-wide, and really, that's a pile of dominoes I don't want to even think of touching.
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N3bu
Well, I'm not sure how much that would fix. It's an idea for sure, but the ramifications can be quite significant. I'm sure many would rush to ensure me that all creditors are blood sucking rich people who don't pay a dime in taxes, but I feel fairly sure the system is a little more complicated then that and that debt erasure would probably hit a lot of average people too.

With any singular country it has the same effect of refusing to pay, which just wipes around your borrowing abilities, to be more effective it would have to be world-wide, and really, that's a pile of dominoes I don't want to even think of touching.

The economy is all debt. What he's advocating is the removal of the economy, rather than progressive reforms to cull debt sharks.

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