What can " U.S." learn from European austerity?

[WNYIRISHGUY]

I read this today and that i am just puzzle even thought " US and European " have a good relationship but they agree and disagree on a few thing but still i think the US should use Europe as an example on how country can able little by little pull themselves out of debt and rapid unemployment

that my thought! but still i couldn't believe that IRELAND is at 14.7 percent in unemployment and that shock me and think about what happen is that was AMERICA! the whole world will be laughing at us...................

http://www.politico.com/news/stories/0512/76053.html

http://en.wikipedia.org/wiki/List_of...by_public_debt

http://en.wikipedia.org/wiki/Economy...European_Union

http://en.wikipedia.org/wiki/2008%E2...nancial_crisis

[obdigore]

Absolutely nothing since our economies, although intertwined, are quite different, and Austerity measures would have a huge negative effect on the US economy.

[artemishunter1]

we are consumer based economy, if people don't buy our whole economy will go down.

[WNYIRISHGUY]

I want to say this " as a tax payer "

WHO WAS AT FAULT FOR THE US MELTDOWN AND BAILOUT ?

President ?
Vice president ?
Senate ?
Congress ?

Nobody is taking blame is " just happen " and that is unacceptable but what about europe who bailout europe country when the US marker was crashing ?

And germany govt made it threw the crisis and is recovering and that is great and that other state/country should use as an example on how to bounce back and the same for you AMERICA that is still going deeper in that debt holes! and i hate to say this but AMERICA is turning in a 3rd world country little by little!

[eriseis]

That it gets socialists presidents a la France?

Austerity will never happen in the US, welfare+military=gridlock

[Gerrin]

First off Wiipedia is not a reference for anything, its just a blog. Secondly 'austerity' means different things in different places. The recent proposals in Greece cut a ton of social spending and government backed pensions. Greece is still in turmoil over it and changed there parliament as a result after the last elections. What the situation SHOULD show voters is that they should not depend on their government for their daily bread. What it does show government is that if they keep going down the same road in a few generations they will have a dedicated slave population that will serve them and still believes they have "rights".

[Falrinn]

I want to say this " as a tax payer "

WHO WAS AT FAULT FOR THE US MELTDOWN AND BAILOUT ?

President ?
Vice president ?
Senate ?
Congress ?

Nobody is taking blame is " just happen " and that is unacceptable but what about europe who bailout europe country when the US marker was crashing ?

And germany govt made it threw the crisis and is recovering and that is great and that other state/country should use as an example on how to bounce back and the same for you AMERICA that is still going deeper in that debt holes! and i hate to say this but AMERICA is turning in a 3rd world country little by little!

A financial crises like this often has many different causes. Sure you might be able to point to a specific action and say "If that didn't happen we wouldn't be in this mess!", and you might be technically right. However there are probably a good dozen plus actions that could fall into that category. Some blame can fall on the government, but the financial industry had to approve the risky loans to begin with, and people had to actually default on said loans. The number of people who at least unwittingly contributed to an action that caused the crises probably numbers in the millions.

[Deleted]

We rely far too much on the financial sector in Britain. It's similar in America, but the economy is on a much larger scale that it could handle the fallout. Austerity or spending splurges, I don't honestly see the situation improving very quickly for countries in Europe.

[Catta]

I read this today and that i am just puzzle even thought " US and European " have a good relationship but they agree and disagree on a few thing but still i think the US should use Europe as an example on how country can able little by little pull themselves out of debt and rapid unemployment

that my thought! but still i couldn't believe that IRELAND is at 14.7 percent in unemployment and that shock me and think about what happen is that was AMERICA! the whole world will be laughing at us...................

http://www.politico.com/news/stories/0512/76053.html

http://en.wikipedia.org/wiki/List_of...by_public_debt

http://en.wikipedia.org/wiki/Economy...European_Union

http://en.wikipedia.org/wiki/2008%E2...nancial_crisis

European countries handle the thing very differently

[slackjawsix]

Don't share a currency called the ameriano with other countries

[araine]

I read this today and that i am just puzzle even thought " US and European " have a good relationship but they agree and disagree on a few thing but still i think the US should use Europe as an example on how country can able little by little pull themselves out of debt and rapid unemployment

that my thought! but still i couldn't believe that IRELAND is at 14.7 percent in unemployment and that shock me and think about what happen is that was AMERICA! the whole world will be laughing at us...................

http://www.politico.com/news/stories/0512/76053.html

http://en.wikipedia.org/wiki/List_of...by_public_debt

http://en.wikipedia.org/wiki/Economy...European_Union

http://en.wikipedia.org/wiki/2008%E2...nancial_crisis

This is the same Ireland that got called a roll model on how to shape a tax system and get fantastic growth in the economy. But frankly it didnt work perpetullum mobile never works. What Ireland had when it was showing that awesome growth that the right wingers in USA was praising was nothing more than a sugar rush. Once the drug rush is over they come crashing down hard and the austerity that has been needed to add ontop of the slowdown in the economy have gutted the economy for the working poor 15% unemployment numbers is a disaster

We have even worse numbers in Spain 24.1% from the latest reports and with a youth unemployment rate of over 50%.

Yeah we can learn that cutting and austerity doesnt work it doesnt make the economy kick of and lowers the unemployment numbers. they have been totally opposite compared to USA in this regard. USA have over 2 years straight of job growth, the conservative controlled economies in Europe that approached the crisis with CUT CUT CUT CUT are still having layoffs and no end in sight on the recession

[Jackmoves]

You are better off looking at individual countries if you want to learn something, the EU might be one market, but every country is still a sovereign region. There are good and bad examples in the EU. Ireland and parts of the baltics for example deregulated their financial sectors like champs and once shit came crashing down they ate the bullet.

The US is such a massive country with a huge population so whatever good you might be able to learn would probably be a mission and a half to implement in the US.

[Laize]

Don't give government employees almost 40 paid days off per year?

Don't pay them for 14 months per year?

Don't pay them bonuses just for showing up to work on time?

Don't slack on tax collection if you're going to provide the cushiest benefits anyone has ever seen?

These are the things I learned.

[helheim]

austerity is a dirtier word than fuck. that's what i've learned.

this is what happens when you use taxpayer money to bail out banks. there is a reason that the fractional reserve banking system that IS the global monetary PONZI SCHEME is failing. you wonder why people go bankrupt? they're supposed to. money = debt. all money is loaned at interest. the money to pay that interest DOESN'T EXIST.

one of these days, the american people who are ignorant to these simple truths will wake up and realize that we're all being fucked.

some of my favorite quotes:

"What country can preserve its liberties if its rulers are not warned from time to time that their people preserve the spirit of resistance?"

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."

"Paper is poverty,... it is only the ghost of money, and not money itself."

"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing."

"Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs."

"I am an enemy to all banks discounting bills or notes for anything but coin."

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will
grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

- Thomas Jefferson

[Deleted]

Nothing.

European Union Austerity measures have not solved anything, and are causing major longterm issues that within the next 10 - 20 years will cause another critical financial issue. Worst mess up i've ever seen and I'm just waiting for it to all blow back in peoples faces.

You can't create growth from purely cutting ...

[Laize]

austerity is a dirtier word than fuck. that's what i've learned.

this is what happens when you use taxpayer money to bail out banks. there is a reason that the fractional reserve banking system that IS the global monetary PONZI SCHEME is failing. you wonder why people go bankrupt? they're supposed to. money = debt. all money is loaned at interest. the money to pay that interest DOESN'T EXIST.

one of these days, the american people who are ignorant to these simple truths will wake up and realize that we're all being fucked.

some of my favorite quotes:

"What country can preserve its liberties if its rulers are not warned from time to time that their people preserve the spirit of resistance?"

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."

"Paper is poverty,... it is only the ghost of money, and not money itself."

"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing."

"Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs."

"I am an enemy to all banks discounting bills or notes for anything but coin."

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will
grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

- Thomas Jefferson

You have no idea how fiat currency works.

Money represents a debt. If the dollar were backed by gold, one dollar would be worth some amount of gold. Instead, a dollar is worth some amount of labor from someone else.

Only the financially irresponsible will "wind up homeless on the continents their fathers conquered".

[helheim]

You have no idea how fiat currency works.

Money represents a debt. If the dollar were backed by gold, one dollar would be worth some amount of gold. Instead, a dollar is worth some amount of labor from someone else.

Only the financially irresponsible will "wind up homeless on the continents their fathers conquered".

or maybe you are a wage slave. i know a lot about economics and modern money mechanics. perhaps you should do some work to better inform yourself.

[Chair]

Relative to the Keynesian stimulus of recent times, I don't think enough has been done to make a judgement about austerity. As I understand it the UK government has done an excellent job talking up their austerity measures but most(all?) cuts were to future spending, making for an interesting look at placebo effects.

catallaxyfiles.com/2012/05/08/how-those-spending-cuts-coming-along/

[Laize]

or maybe you are a wage slave. i know a lot about economics and modern money mechanics. perhaps you should do some work to better inform yourself.

Wage slave? I own my own business and I'm a landlord for 3 properties I own.

I understand how money works. It's you who uses tinfoil hat thought processes to assume we're going to wind up bankrupt for no reason,

[WNYIRISHGUY]

And you know as i read this there was a story about as bank was crashing and massive layoff " they ask the u.s. govt " to be allow to bring foreign worker for high paying bank jobs and they go the okay and part of the articles what i going to say will piss of alot of people when i said this

The bank receive 150K in bailout and the bank were paying there foreigner $90,721 which is nearly twice the median income for american household from low and top level position in a company this is our taxmoney at work.............THANK YOU US GOVT FOR SCREWING AMERICAN WORKER YET AGAIN!

read the articles
http://economyincrisis.org/content/a...oreign-workers

http://washingtonindependent.com/284...ver-us-workers

http://www.canadavisa.com/canadian-e...n-workers.html

Even the canadian is getting this " to hell with canada worker let bring the foreigner it " and at what point...........enough is enough and stop this loop hole company in u.s. already outsource everything to foreigner company and these are the same place that they go and bring foreigner worker from AND IS GOTTA STOP!