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Thread: Harvard professors wrong: austerity measures is bad for you

  1. #1
    Senior Member UncleFai's Avatar
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    Default Harvard professors wrong: austerity measures is bad for you


  2. #2

    Default Re: Harvard professors wrong: austerity measures is bad for you

    And your argument is ?

  3. #3

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    He found out their math and assumptions were faulty. However, they maintain the basic conclusion is not affected.
    Alpha

  4. #4

    Default Re: Harvard professors wrong: austerity measures is bad for you

    IN YOUR FACE, EUROPE!

  5. #5

    Default Re: Harvard professors wrong: austerity measures is bad for you

    Well the debate between pro and anti austerity camp has been going on since... forever.
    I have read the latest Krugman's book but I don't think any mathematical 'proof' will help either side of the camp.
    I'm not in the pro austerity camp, but I believe the fundamentals, that precarious spending fueled by debt will not bring any good.
    Its just delaying the time bomb to explode later.. probably forcing a country to default.
    The funny thing about Europe is that if you look at the sick countries, you will know who is 'right'.

  6. #6

    Default Re: Harvard professors wrong: austerity measures is bad for you

    They had also excluded data from Canada, New Zealand, and Australia — all countries that experienced solid growth during periods of high debt and would thus undercut their thesis that high debt forestalls growth.
    These three countries have lots of natural resources, which fuel their growth rate.
    Countries that do not have that much natural resource need the austerity measures.
    I eats, shoots & leaves

  7. #7
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    Default Re: Harvard professors wrong: austerity measures is bad for you

    What austerity?

    Europe's idea of austerity is not even close to the daily reality faced by millions of Asians living in poverty.

    In a BBC (or CNN) programme on Greek crisis, they sent a reporter to meet and interview ordinary Greeks.

    One of the Greeks own a business, a nice landed residential property and 2 cars - a Porsche and a Mercedes model A class.

    What is this Greek's idea of austerity? Now he has to give up the Porsche and only own the Mercedes model A class.

    A Greek lady was interviewed. This Greek lady has bought a new condominium.

    Now she worries that the Greece government won't continue to give goodies to help her continue to pay for the new condominium.

    This is her idea of austerity.
    Last edited by ricohflex; 21st April 2013 at 06:04 PM.

  8. #8

    Default Re: Harvard professors wrong: austerity measures is bad for you

    problem is, governments never explain clearly whatever they're doing

  9. #9
    Senior Member UncleFai's Avatar
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    Quote Originally Posted by kei1309 View Post
    problem is, governments never explain clearly whatever they're doing
    A friend once told me off when I was arguing some policy stuff with him on FB: "those in government are our very smartest... They know and think about things that you won't understand. Don't act smart."

  10. #10

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    Quote Originally Posted by UncleFai

    A friend once told me off when I was arguing some policy stuff with him on FB: "those in government are our very smartest... They know and think about things that you won't understand. Don't act smart."
    I think your friend is trying to say those people and their policy is too incomprehensible.
    Coolthought - 冷静思考 - クールだ http://xaa.xanga.com/0aba0666d143253.../t35917343.gif

  11. #11

    Default Re: Harvard professors wrong: austerity measures is bad for you

    Quote Originally Posted by coolthought View Post
    I think your friend is trying to say those people and their policy is too incomprehensible.
    that is the problem:

    when no one understands, there's a chance that people will feel ripped off.

    but when you explain too clearly, you also face dissatisfaction.

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