Monday, June 08, 2015

Tax and Spend

Claim US states falsely report finances to make them appear better off.

Consequences of Greece's supposed austerity.
"The folly of continuing to pursue this program is particularly acute now, given the 25% decline in GDP that Greece has endured since the beginning of the crisis. The troika badly misjudged the macroeconomic effects of the program that they imposed. According to their published forecasts, they believed that, by cutting wages and accepting other austerity measures, Greek exports would increase and the economy would quickly return to growth. They also believed that the first debt restructuring would lead to debt sustainability."
Oops.

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