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Thread: Thousands Protest Austerity Measures in Spain and Portugal

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    Thousands Protest Austerity Measures in Spain and Portugal

    Tens of thousands of people from all over Spainrallied in the capital on Saturday against punishing austerity measures enacted by the government, which is trying to save the country from financial collapse.

    http://www.nytimes.com/2012/09/16/wo...ugal.html?_r=0

    It's a tragic irony, really. The only way to fix the economy is austerity, but the people are like junkies. What's happening in Southern Europe is a microcosm of the entire economic crisis. People will never learn...

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by Guy Incognito View Post
    It's a tragic irony, really. The only way to fix the economy is austerity, but the people are like junkies. What's happening in Southern Europe is a microcosm of the entire economic crisis. People will never learn...
    *Coming to a neighborhood near you.*
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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by Guy Incognito View Post
    It's a tragic irony, really. The only way to fix the economy is austerity, but the people are like junkies. What's happening in Southern Europe is a microcosm of the entire economic crisis. People will never learn...
    No, it's not the only way.

    The government could default on the loans they borrowed.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by Guy Incognito View Post
    It's a tragic irony, really. The only way to fix the economy is austerity, but the people are like junkies. What's happening in Southern Europe is a microcosm of the entire economic crisis. People will never learn...
    Leave it to the moochers to think they are owed other people's money.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by samsmart View Post
    No, it's not the only way.

    The government could default on the loans they borrowed.
    You really believe that would fix the economy?

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by Guy Incognito View Post
    It's a tragic irony, really. The only way to fix the economy is austerity, but the people are like junkies. What's happening in Southern Europe is a microcosm of the entire economic crisis. People will never learn...
    and yet tough austerity measures have been implemented in many European countries like the UK and the economy has stalled.

    Chancellor's austerity measures causing UK 'lasting damage', NIESR warns - Telegraph
    ‘This is not peace, it is an armistice for 20 years.’ (Ferdinand Foch. After the Treaty of Versailles, 1919).

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by Donahue View Post
    You really believe that would fix the economy?
    I think it's an option.

    I mean a lot of investors want the people to pay off the debt borrowed by these European governments. But those investors need to remember that all loans have a level if risk to them.

    And with a default of that debt, the people won't have to pay back the principle or the rates. That way the people will have more money to spend on developing their economy rather than pay back government debt.

    And one of the outrages by the European public, as I understand it, is that the pressure for austerity rather than default is being pushed by global banks - who were the ones who lent that money and want it paid back because they didn't do their homework on these loans.

    So why should the people if Europe pay for the folly of global banks?
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Austerity is not the only way to fix an economy.. It ultimately makes things worse in the long run.


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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by Guy Incognito View Post
    It's a tragic irony, really. The only way to fix the economy is austerity, but the people are like junkies. What's happening in Southern Europe is a microcosm of the entire economic crisis. People will never learn...
    Actually what's interesting is Spain ran 5 years of budget surpluses before the financial disaster. Now people are shaking their finger at Spain and saying "you crazy Spaniards need to live in your means!".
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Thousands Protest Austerity Measures in Spain and Portugal

    Quote Originally Posted by TheDemSocialist View Post
    Austerity is not the only way to fix an economy.. It ultimately makes things worse in the long run.
    Wrong..

    Austerity during a recession or bad economic growth will not fix the economy.. but only make it worse.

    Austerity during growth in the private sector and over all economic growth... the right way to do things.
    PeteEU

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