miami_thomas
VIP Member
- Jan 20, 2011
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It is absolutely incredible that they are still blaming all the problems in Europe on the austerity measures and not on the debt. Austerity measures are a result of too much spending accumulating into a huge deficit that grew into too much debt. What are they supposed to do if not raise taxes and make cuts? They cant keep spending and borrowing at the interest rates being offered. They think things will get better but they are mistaken because they think eventually we can just go back to spending enormous amounts of money with low taxes and borrowing to cover the difference. That and they obviously are not taking into consideration the fact that the US will be the next credit bubble to bust and it is going to be so big that it will certainly set of a chain reaction unlike any ever seen. We thought all the previous credit bursts were bad just wait until this one hits.
Euro zone falls into second recession since 2009 | Reuters
Euro zone falls into second recession since 2009 | Reuters