Eurozone's unemployment climbs to 12.1%, a fresh record high

But on the bright side, inflation is at multi-year low!

Remember kids - protecting currency value is the point, doesn't matter if you trash the economy and ruin people's lives with grinding deflation - as long as the currency doesn't inflate modestly that is success in and of itself.

Economies exist to serve monetary policy, not the other way around!

 

Monetary unions crumble without political union.

 

Well as conservative/libertarian prevailing econ says, the Euros are doomed due to their welfare state. The conlibs are finally right, after a whole generation of conlib predictions --and great lives, vacations, health care and education etc. for tens of millions of ordinary Euros, theEuros are broke and broken. Except the conlibs were wrong the Euros are failing because they aren't spending enough.

Meanwhile for a whole generation, tens of millions of Americans have suffered without significant vacations, health care or debt free college. But hey, USA! USA!, our .1 t0 1% are better off than theirs.

 

Austerity works. It just needs more time! And then more time after that! After that, give it a little more time! And then, if anyone's left ... give it a little more time! Eventually, the handful of people who aren't harmed by austerity will let a little bit of wealth trickle down their leg! Then you can drink it! Austerity works! Just give it a little more time!

 

our top 100% are better off than their top 100%. Why do you think we have endless number of people trying to get into this country?

 

Probably the same reasons European nations have endless numbers of people trying to get into their nations.

 

Austerity doesn't create strong booming economies. It prevents you from becoming Italy and Greece.

 

Except that it's made everybody who has applied it worse off, and thus more like Italy and Greece.

Also - if it's preventive, why is it being applied to Italy and Greece?

Make no mistake of course, austerity was not sold as a way to stop the bleeding, its adherents said it was a way to create growth, ask Trichet: "Confidence-inspiring policies will foster and not hamper economic recovery"

 

fail in what regard? to reduce the budget or to boost the economy? In any case my answer would differ for different policies.

 

Has nothing to do with austerity and everything to do with the ECB not being aggressive enough (and not really being able to because Germany and Greece need different monetary policies).

 

Lack of demand has nothing to do with intentional reduction of demand!

 

You can stimulate demand with monetary policy.

You know, like the US is doing.

Duh.

 

Oh and periphery bond yields are down. So something is going right.

Haven't heard much about Euro breakup lately.

That said, the ECB should do more while the government get their budgets under control.

 

You definitely can.

You can also crush demand, by crushing demand, which the Euro countries have done.

 

Folks from really poor countries are still trying hard to get here. However, there aren't "an endless number" of Scandinavians and Germans "trying to get into this country." Once again you are comfusing Fox and Friend talking points with actual facts.

As an example I have a nephew who has a long term Swedish girlfriend who can't afford to move here because she can't afford to give up her free college tuition.

In fact I just saw on the ABC Nightly News that net migration from Mexico was zero last year. 1.4 immigrating and 1.4 million returning.

 

Do you have an alternate reality to prove otherwise?

The same reason why lenders refuse to finance those with crappy credit scores. If you're used to using credit to dine on steak and lobster all your life and you can no longer get financing, all you have left is to eat beans and rice and to practice austerity.

Anyone who believes austerity is a way to create immediate growth is as foolish as the one who believes the continuous record deficit spending will create a thriving economy.
Just like everything else, there is a median that needs to be maintained, but the extremists insist on over complicating the problem.

 

Which country do you think Germans and Scandinavians are trying to emigrate to?

Once again you assume someone watches Fox and Friends (that's literally like the 3rd time you have tried writing that line about me). I don;t. How do you know what Fox and Friends talking points are? do you watch it? You seem to know their talking points back and front.

I couldn't care less about what decisions your friend of a friend makes. She would make alot more money with an education from a more credited university such as the ones in the states (depending on what u study). Not many employers are familiar with University of Skellagardan.

What would that have to do with the USA?

 

BWAHAHAHAHA

Did you say "free college tuition"?

I hate to break this to you, but her family paid for that tuition through their tax payments.