The French and Greeks know they must be left with SOME money in their pockets for their economies to operate. Their elections have told the big political parties who’ve sold their souls to the banks that it’s time to start listening.
2 thoughts on “France and Greece vote against austerity”
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Austerity is different here! Or is it? As a guest on the Sunday night show ABC radio put it, an economic miracle of ‘a surplus on the back of society’s most vulnerable members is a national shame’. And the argument, we don’t want to impose a huge public debt doesn’t
stand as an argument considering Australia has the lowest public debt in the developed world, yet young people have the highest personal debts for HECS and cost of living
Than their parents the baby Boomers, who got free education, and a first home from
$35,000. Shifting public to private debt serfdom is neoclassical. Is it because they want
to sign onto to paying foreign debt as some GFC consolidation fund by the IMF? that this is the Austerity ‘recession we had to have’. Austerity feeds recession not solves it.
So.. to ensure they had money in their pockets, they voted in governments that have committed to taxing and spending more.
Biggest hint as to why this is a Bad Idea. The take from a full LVT drops in a recession.
When people are trying to cut costs, the government should not work against them.