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Greek lawmakers approve austerity bill as Athens burns
By Harry Papachristou and Yannis Behrakis | ATHENS (Reuters) - Greece's parliament approved a deeply unpopular austerity bill Monday to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence ...

Greek lawmakers approve austerity bill as Athens burns
By Harry Papachristou and Yannis Behrakis | ATHENS (Reuters) - The Greek parliament approved a deeply unpopular austerity bill to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence ...

Euro Gains as Greece Approves Austerity Measures
Enlarge image Euro Gains as Greece Approves Austerity Measures for Bailout Euro Gains as Greece Approves Austerity Measures for Bailout Simon Dawson/Bloomberg The euro rose 0.3 percent to $1.3239 as of 7:58 am in Tokyo from last week in New York.

Oil above $99 as Greece approves austerity cuts
(AP) SINGAPORE — Oil prices rose above $99 a barrel Monday in Asia after the Greek parliament approved new austerity measures that should secure a bailout and avoid bankruptcy. Benchmark crude for March delivery was up 58 cents at $99.25 a barrel at ...

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Real-time

1Altamimi Gold rises on Greek austerity bill, off 2-week low http://t.co/kSQShafT via @reuters #OSIF12S

RIOTUK Greek Parliament Passes Austerity Bill as Rioters Burn Buildings: Source: http://t.co/j00luuoe --- Sunday, Februa... http://t.co/30GRItKY

RIOTUK Greek Parliament Passes Austerity Bill as Rioters Burn Buildings: Source: http://t.co/j00luuoe --- Sunday, Februa... http://t.co/JBccSYAP

KC_OFWG Greek Parliament Passes Austerity Bill as Rioters Burn Buildings: Source: http://t.co/zLTOqytR --- Sunday, Februa... http://t.co/d7ZqM9Dz

livingdocu Greek Protests Continue As Lawmakers Pass Severe Austerity Measures http://t.co/umxZvw77 via @HuffingtonPost

midlandheadline Oil above $99 as Greece approves austerity cuts http://t.co/o8bkTdnn #midlandtx

dmhennen big problems in greece... http://t.co/6urUNqZy

RupaVirgo Nikkei rises after Greek approves austerity steps: TOKYO (Reuters) - Japan's Nikkei share average advanced on Mo... http://t.co/qt7nSXPX

jpclark14 #CETA Euro, U.S. Futures Climb as Greek Lawmakers Approve Austerity; Oil Gains - Bloomberg http://t.co/BCkD7T5g via @BloombergNews

jmospina RT @Demotix: Violent riots turns Athens into flames - @Demotix News http://t.co/6ILPCJGB #Athens #Riots #austerity

SHADI_ALKASIM Greek parliament approves an austerity bill to secure a bailout from the European Union and International Monetary...: http://t.co/53WZj6Zk

cdenisj Greece approves austerity cuts to secure eurozone bailout and avoid debt default: Greece enacted billions of eur... http://t.co/r0xcj4AQ

BDO_Botswana Greece Parliament to vote on austerity measures http://t.co/C6K7vdUJ

SHADI_ALKASIM Greek PM Lucas Papademos calls for calm, as protesters and police clash before a key vote on more austerity...: http://t.co/cnF5HC6U

Discussions

IS there a way to get rid of the budget deficit without a lot of austerity? by Q: It seems like just about every other country bit the bullet earlier on but America seems terrified because of what happened in greece. Whats the plan, the government will just keep acting like it's not a big deal until bread is $10 a loaf?

Would Americans riot and burn down their cities if we ended up having to pass austerity measures? by pdooma Q: In order to save our country? Not saying they wouldn't or are any better/worse than Greece, just what do you think Americans would do in Greece's position?

When the Euro collapses will cons try to blame Obama or will they accept that austerity is a failure? by Q: cutting spending is the opposite of growth. RT, No nation has ever cut itself out of debt. That is like owning a company that is losing revenue and you decide to cut your entire sales force.

A: Spending yourself into oblivion so that you have no choice but to make deep cuts is the cause of the failure. Wake up.

What did the markets think of the Republican's austerity measures? by Q: Do they think there will be growth going forward?

A: In recent days the markets said a big Nope! The S&P is planning to downgrade America's credit today, let's see what Monday brings. I'm expecting the markets to plummet

What austerity standards should be implemented to cut back on White House spending? by Q:

A: Start by putting a padlock on the front door. Did anyone notice that when Obama is on vacation the world continues to run...airplanes fly...wars go on....nothing changes? How about we put the whole executive and legislative branch on part time pay, since they are gone most of the time anyway. That would save a bunch, wouldn't it?

What is the Republican plan to create jobs besides austerity, tax cuts for the rich, deregulating wall street? by Q: Use google dummy he already has one.

Which riot is more palatable, municipal employees to protest austerity or the rest of us for a fed bailout? by Dr.T Q: From what I see, if the feds try to bail out states, unrest will go ballistic. Making 49 other states pay for the criminal Ponzi schemes of governments for which they have no vote is identical to what started the war of independence.

A: The war where the producers defeat the moochers is a noble, just war. If government sloth riots, just haul them off to jail and be done with them. So to answer your question, the latter is more palatable.

When America starts her "Austerity" program who will object? by Get out of my pocket! Q: We will have to have an austerity program to bring the deficit down to a manageable level. Agree or disagree? Who will object. Do you realize that it is the public that feels the austerity?

A: Nothing to do but either start a revolution or take it in stride.

By insisting on budget austerity can the EU population be fed to the next market crash? by Q: And lose all their benefits and safety nets too?

A: It certainly looks that way.

What do you think about the financial austerity programs imposed by the IMF on countries in financial trouble? by Pascha Q: Should we consider measures of the same kinds in during this economic crisis?

A: If you are referring to their Structural Adjustment Programs (SAPs), then they are a bad idea. Many times, they cause more poverty. http://www.globalissues.org/article/3/structural-adjustment-a-major-cause-of-poverty

Why do banks get enourmous bailouts but the people get Austerity? by Q: Shouldn't it be the other way around?

A: Big banks have lobbyists where the regular people do not.

Would you be willing to put the USA into austerity to pay down the national debt quicker? by Lever Q: How much would you be willing to cut? Also, is it worth it, just to get the national debt paid off, or does it matter if it's paid off quickly or not?

A: I want 2 trillion cut immediately. Take it from defense, medicare, etc.

How much are Americans going to enjoy the Austerity Program planned for them? by Q: Let's run through a quick list of stuff you aren't going to have. (1) Enough to eat. Count on less Green Backs to take to the grocery to exchange for hamburger. Just get used to the Hamburger Helper without the cow meat. Chances are that your job is connected, indirectly or directly, to the government whether you see it or not. (2) Health Care (3) Student Loans (4) Electricity (5) Gasoline Fill In The Blanks -----------------------------------------------------------------------

A: Welfare mooches, and government worker parasites are long overdue for some austerity I'll enjoy watching reality set in

Aside from austerity, has Greece made other moves in trying to reform its politics and economics? by Greg0787 Q: No doubt the political system is completely and utterly broken-- PASOK and ND failed the people and nobody can deny this. And no doubt there are many laws/inefficiencies that hurt Greece businesses. But even some changes to the laws have made it now much easier to start a business. So, has the government made real efforts at reform? If the government is only using tax and cutting measures, how is Greece supposed to actually change so that it grows again? Just doing this alone is going to make the crisis worse than it needs to be, I think.

A: I think you are right that the problem has more to do with How Greece ( and how individual Greeks ) see themselves as a nation and as citizens within it . You do labour under a crushing burden of History . But it is not all bad . Just Sixty years ago people were riding about with their political opponents heads dangling from their saddles , now when did you last see that , hmmm ... ? And they rode on mules because that was the only way to get round three quarters of the bloody place , not like that now , hmmm ... ? And for many a bit of meat at Easter and at the Panagyria , and the rest of the time Soupa , paximadia , Xorta , mageiretsa , and so on . Unless you had money or lived in the city . Before the village of Ladoxori was buried under the concrete for the new port next to Igoumenitsa , I remember seeing poor people there who habitually went without shoes , that was the year Costas Simitis won the election for the first time , not so many years ago , hmmm ... ? I think one answer is that Greece since 1821 has not had time to develop a fully efficient and morally sound civil service , that is to say a long tradition of upright men and women at senior levels in your Ministries to keep the Politicians in bounds . You have very well trained ones , but what you need is ones who can say " Oxi " to their masters , and not " Ti tha kanoume " after doing something they know is not in the long term interest of Greece or it's people . Oh dont get me wrong , there are plenty of " Yes men " here in England too , shame be to them , but we still do have that ethos of dedication (sometimes ) to doing your best when at a senior level in one of our big ministries of state . That would be something very , very hard to inculcate into a culture that spent a little to long in the Levant , I think .

When Republicans regain control and a serious push to bring down debt is started, what sort of Austerity? by Jules Winnfield Utopian Socialist Q: Measures will be imposed? Of course all government workers will have to take a serious paycut, including firemen and teachers. Social Security payments will need to be cut for those who have other incomes and don't really need it, such as those who make over $250,000.00 per year after they are retired. They don't need a government check. Only those who depend on it will be paid. And of course cutting subsidies to oil companies and Michelle Bachman will save a lot of money.

A: Do you really believe the Republicans will do anything different?? .....kinda naive....

Can shortage recession and austerity cancel our plans for progress in energy, peace studies or drug policy? by Q: are you for it? Austerity over progress?

A: They would have more money if they stopped fighting all these useless wars, notice how we always have enough money for war?

Do you live an ascetic lifestyle? Meaning a purposeful life of austerity, poverty, and strict diet? by Q: I am interested in people who live an austere lifestyle for reasons of religion, politics, or personal lifestyle. I am writing a book on the issue, and I am simply interested in those of you who live such lives, what your daily schedule is like, what motivates you, who you look up to. Is it because of religion or a personal belief? Are your motivations based upon moral principles or self-subscribed ethics? Please respond here if you are interested! Thank you!

A: On r&s, I tend to be more acidic.

How long until the Federal Reserve starts bailing out US states under conditions of austerity measures? by Osiris' Goldmember Q: Greece can't be much more broke than California. Some people need to learn how to read. I know the federal government has already sent bailout packages to states, however, sans any type of austerity conditions.

A: well if you think of it the federal reserve holds practically our bonds and creates money our of our tax wich give them power to do anything, so they got us in thi economic shit hole to begin with

Are the greek austerity protesters the same people that advocated joining the European Union? by The Fed Up Matthew™ Q: This is actually a serious question since I'm not from Greece?

A: They're anarchists, ANTIFA, the Jewish anti-fascist organization. They trash countries all over the Western world. They cause chaos and cost money trying to break down the country so the worker's movement (Communists) can take over once the country breaks down and becomes violent and the masses just want anyone that will stop the violence and protect them. They set a police officer on fire today in Greece. They're the same people who stalk and commit violence against the BNP in the UK. I'm sure they support the EU because the EU is one of the steps to a one-world governemnt (Communist).

What conclusion can be drawn after seeing so many Anti Austerity movements? by ThE cHaMp !!! Q: I want some good conclusions to draw my analysis on its report.. Is something really going to happen? will the people be successful in their protests or the government will keep on doing the same?

A: It seems you think the protestors are justified in their demands to be subsidized on the backs of others around them and future generations. The protests we have today are in synch with the administration we have today. They do not protest government, they seek to bloat it.

Why should everyday Americans experience austerity and deprivation to support the financial elite? by Q: Wealth continues to be transferred from everyday Americans to the financial elite. Why should we tolerate this? Why should ordinary Americans pay for the tax cuts for the rich and fat cat corporations? Why do so many fascist make worthless comments when ordinary people object to being exploited by the big corporations?

A: Because they have been brainwashed into believing it is their patriotic duty to do so.

When austerity will hit the US, will the protests be more violent than they are in Ireland now? by Q: Because many people have guns and there's a gun culture? There's no gun culture in Europe.

A: Yes, we are Irish younger brothers in terms of guns. But we have another way out in order to calm down the mops.Look at our historical statistics. 1.The 1930s depression was solved totally by the second world war. In economist eyes, producing and selling of guns, increasing military employments and relating jobs are the main and big engine to pull such a big economy out of the mess. 2. The Korean war had pulled out the Japan's and the US economy obviously.It was written in the history books. 3. The Vietnam war in the 1970s was to save in facts the US economy from depression and financial mess. 4. The financial outbreak in 2001 might be the main cause that the US enter the war in Afghanistan, and also Iraq 5. North Korea and China cannot understand why the US and South Korea have to carry out military exercise very close to their doors. Is it a provocation to solve the prolong economic recession in the US? Or is it just a world-cop obligation? It it would go on, it would turn to the time of producing and selling guns again. Now your turn.

How long before the US has to implement an austerity program and make huge cutbacks to gov handouts? by Tom Q: Greece spent itself into oblivion and now they have to "Pay the Piper". How long before the US has to "Pay the Piper"?

A: Don't worry. I'm sure the conservative wet dream of balancing the national budget on the backs of the working and middle classes will come true. And the rich corporations and executives who bilk us on a daily basis, with prices and with decreasing pay and benefits at our jobs, will laugh all the way to the bank and congratulate themselves on the great illegal-immigrant and "terrorism" propaganda their media arms put out to distract us. :/

Why is their more protesting in Greece? how else can their Govt save economy if they dont use Austerity? by Q: The Internationa J bankers that got Greece in this mess, are desperate for the Islands give them land and their wont be Austerity measures. Other then that what can the Greek Govt do?

A: Well, look here...I can't find the article so that I can show you the exact statistics but watch now: THIS IS THE INCOME THAT CERTAIN WORKING CATEGORIES ARE SHOWING TO THE GREEK TAX SERVICE: 1. AVERAGE WAGE INCOME OF AN EMPLOYEE IN GREECE: 19.000 Euros 2. AVERAGE WAGE INCOME OF A CIVIL ENGINEER/ ARCHITECT- those who are supposed to create whole block of apartments, roads etc: 10.000 Euros!!!! 3. AVERAGE WAGE INCOME OF A D O C T O R: 26.000 Euros!!!!!!!!!!!!!!!!!!! and last but not least 4. AVERAGE WAGE INCOME OF A LAWER THAT MAKES CONTRACTS ETC: 56.000 Euros! (Ok! they are less thieves than the others above I guess) Now tell me what do you understand? Those who were robbing the state were those who could declare a much lower income than their exact profits! Nothing has been done till now by the state and the present Government to catch those who were not paying their taxes and to confront and put in their position certain working casts that are powerfull, such as the doctors, farmasists and engineers! AND GUESS NOW: - HOW IS IT POSSIBLE A SIMPLE EMPLOYEE TO HAVE BIGGER INCOME THAN AN ENGENNIER AND ALMOST THE SAME MONEY AS A DOCTOR? - WHO'S GONNA PAY FOR THE AUSTERITY MEASURES? ANSWER: The employees who weren't robbing the state and were declaring their actual income (average 19.000 Euros). -DO YOU KNOW ABOUT WHAT KIND OF AUSTERITY MEASURES WE'RE TALKING ABOUT? And the plain middle class people will pay for them, most of the people who don't hide their incomes from the Tax Service. I don't expect you to understand, it's obvious you don't know anything about how it is not to trust your own state.

What is going to happen weh Greece Rejects the Austerity measures? by Q: It appears that the Greek government has decided to let the people vote on, and presumably reject, the deal that has been reached. In broad terms, Greece is totally out of money and cannot sustain the present spending levels, so, in exchange for Greece making certain expense cuts, the Germans are going to guarantee some loans or otherwise do the heavy lifting to get Greece out of this. All of which begs the question, WHEN Greeks decide not to stop the gravy train, what happens to EU, global banking, the Euro, etc?

A: You're behind times. The PM has announced there will be no referendum on the austerity measures. From the link: "UPDATE: Papandreou backed off his plans to hold the controversial national referendum in Greece to gauge support of the euro, claiming there is no need to since even his opposition supports the austerity measures. Though he compromised on calls from opposition leader Antonis Samaras to lead a national unity government, he refuses to resign his position as Prime Minister, a condition Samaras has attached to his proposal."

Why do the Republicans austerity measures depend entirely on the working class? by Dr Yes!!! Q: Half of the money is in the hands of 2% of the people, the rich. Yet that 2% is giving no "trickle down" or even paying their fair share, in percentage, of taxes. Why do the working people have to pay so much more? The tax breaks for the rich have had no real effect yet. Why would that change?

A: Traditionally Republicans have only represented the wealthy. These poor conned-servatives are just being used for their religious beliefs. As long as the Republicans pretend to be pro-life the conservaitve christians will obey them.

How is austerity meant to help the people of Ireland? by Q: I mean, by cutting public services, isn't it hurting the people it's meant to help?

A: Helping the citizens of nations seems to be absent from globalization. Minimalism is one of the aims of UN Agenda 21 to conserve resources and stop consumerism. Without consumerism, our employment outlook is dismal globally. Another end result is to equalize all countries economically, socially, and environmentally. What better way to do it than complete interdependency among nations who all happen to be going broke due to their joint effort to create an international economic philosophy. We all did better when we controlled our own economies and invested in our own countries.

How is austerity working out for Europe? Isn't that what Republicans are trying to do here? by Q: Republicans want to cut middle class services while they also complain about the poorest 47% of Americans not paying enough in taxes. All economists are saying austerity is only hurting them... Hmm who should I believe?

A: I don't see a question here. Just a childish rant. And the ones complaining the loudest are the 47% who don't pay federal taxes whining that the ones who actually pay taxes aren't paying enough. Typical behavior from societal parasites.

What is an austerity measure? what examples could there be of this in the USA? by jesswzmn Q: and who is negatively impacted the most by austerity measures, and who is impacted the least?

A: Forcing someone to do with less. An example would be telling a govt agency that they will have 10% less next year. Another would be saying no more eating out until we get the credit card paid off.

How badly will the austerity cuts of UK and various european governments affect the working class? by Q: I hear it will be brutal to the workers, but they are meant to be distracted by the royal marriage going on now.

A: to paraphrase george orwell, "we are all in this together, but some are more in this than others"!

How severe will the Austerity Measures for the United States need to be? by Q: Serious reductions in spending must be made and the cuts will come from someone. Thank God for the Tea Party that the "job creators" (Banksters) will be safe and not be asked to make sacrifices. The "job creators" (Banksters) have managed to amasse most of the nations wealth, mostly by legal means, and should be able to keep all the money they stole. It is not too much to ask the "little people" to sacrifice. In fact, they should fall on their knees and thank God for the Tea Party.

A: Yes there will be austerity measures. Our debt makes it certain. Either we make the cuts ourselves now or we will be forced to make much more painful cuts later by the IMF. Your choice.

What are some austerity measures we can install on the free market for not providing enough jobs? by Q: In 2005 we were told that it was not the government`s job to create jobs so why are we hearing that Obama is not creating enough now? I blamed Bush for wars not job creation.

A: The public cannot "install austerity measures on the free market" and what makes you think that would help provide jobs?

Would Democracy be abolished if people voted in Non Austerity parties in elections? by john m Q: The Greek government remove one man after pressure from the G20 then the Italian do like wise.What will happen if at election time other parties stand on this platform of Non Austerity.After all didn't the National Socialist do this and surely democracy is to let the people decide and come what may or are the political classes too thick,scared and controlled now to practice democracy and change?

A: Democracy is abolished when people refuse to govern themselves and pass on the self control to others. In America we have begun to vote for more security, more protection and more ease so we are giving up our self rule for the rule of some elite dolts who would never give up the power given them merely because they saw that they were wrong in having it. It will have to be ripped from their hands with bloodshed or wisdom. The wisdom is so rare in the world that it almost always come to bloodshed. Namaste'

Should the Tea Party be renamed to the Austerity Party? by Q: Austerity measures are taken if there is a threat that a government cannot honor its debt liabilities. The US can and we could borrow 5 times what BUSH borrowed right now and be fine. In other words, we don't need to cut spending under Austerity. We should continue the course.

A: How about the Autistic Party.

Example for others in austerity and practicality? by n j Q: For Ms Obama: Do you feel that it is important for high profile figures such as yourself to exhibit a sense of austerity in travel, shopping etc.to the public and military families, much like military families must do to enable husbands and spouses to continue a military career serving this great nation?

A: Υess        

Why are the Greeks rioting/ on a strike because of the Government austerity package? by Annie Q: It looks like to me that Greece has two options: Tough austerity measures or country bankruptcy. Are they rioting because they don't understand that? Because they prefer bankruptcy? Because they believe that the measure taken to avoid bankruptcy should be different? Because they hope their work sector will be spared in expense of others if they riot? These are all possibilities I can think of. Is there another one? Not a school Q. Just curious:)

A: They are not willing to give up their perks and government freebies. It all started when the government raised the retirement age from 60 to 62. About 33% of workers in Greece work for the government. So there is not enough tax income to pay workers.

Why are investors punishing Europe for its austerity measures? by Q: The US has been employing deficit spending to force its way through the recession. Europe has adopted austerity to sooth nervous investors. Today Europe is being punished for its austerity by investors? Should the US follow Europe down this dangerous path? Oh, and capital has been flowing from Europe to the US Treasury. Why are they betting on America over Europe?

A: europe is being punished by investors because many believe the fiscal austerity programs will only worsen their recession, as happened in 1930 when the US tried the same thing during the depression, and what Ireland has seen obver the last 2 years, when it slashed spending and raised taxes. The result has been a severe economic downturn in Ireland. Your second question is simple. Investors are worried about the value of the Euro, as it is very difficult to gauge the long term effects that fiscal problems in multiple soveriegn states will have over a universal currency. It is extremely difficult to maintain monetary control over a currency that is supported by multiple nations. The effects of Greece, Portugal Spain, Italy and Ireland's huge deficits are causing fear in the markets about the soundness of the Euro. This in turn causes concerned investors to move to safer havens such as the Yen or the Dollar.

Why isn't private sector not making jobs in countries that have implemented austerity? by Colfax Q: Cons are preaching that if they implement austerity in America (cutting social security, medicare, laying off ppl and cutting the budget), the private sector will pick up and make jobs and economy will get better. but that isn't the case in countries that implemented austerity in Europe. no jobs, the gap between the haves and the have-nots growing larger and ppl are rioting on the streets. so how will it be any different in here? they want us to be like greek?

A: Austerity during recession ALWAYS makes the recession worse. It has been tried several times throughout history. But conservatives don't believe in history any more than they believe in science. They live in a fantasy world.

Are austerity measures the only way of temporarily salvaging country's economies? There are lots of protests? by --- Q: Currently plans for protests in the EU against austerity measures... Understandably so. But what else do they expect their governments to do?

A: Irrational behavior is assisted greatly by lack of education and generalized stupidity. Failure of reality not possible--only failure of expectations.

What are the PROS of Austerity in a Crisis? by Q: The long established theory of John Maynard Keynes which calls for more Government spending to help the economy through hard times, is being questioned today. Do you agree or disagree that a stimulus package and government spending is the best option to pull an economy out of recession. Do you advocate austerity or spending?

Why are we reducing the debt with austerity just so the wealthy don't have to pay their fair share? by Q: Not to mention austerity will only lead to lower economic growth. We did cut spending, it crashed the stock market.. I personally am opposed to pouring more kerosene on the economy and then lighting it on fire, but apparently you think it would help the economy.

A: because of the teabaggers and their congressional lap-dogs http://www.thedailyshow.com/watch/mon-august-1-2011/dealageddon----angry-tea-party

Why do Greeks oppose the new austerity measures? by Q: I don't know much about the situation in Greece but I know the government is in tremendous debt that is greater than its GDP; but if the country is so messed up economically, why are the citizens rioting in the streets and throwing bombs at police officers? I think Americans for the most part would love it if our government took some austerity measures, and our economy isn't nearly as bad as Greece's. So could someone please explain to me what's going on?

If Italy passes austerity measures, could it still default on its debt in the near future? by wing2871x Q: Recent austerity measures have been approved by the Italian Senate and are likely headed to the lower house soon. For those of you who have been following Italy, its debt crisis, and the recent austerity plan, do you think its still possible Italy could default on its debt in the near future if these measures pass? Say, this year? 2012? Will the measures help or hurt Italy in the long-run?

A: Yes Italy certainly may default with or without austerity. What most likely would cause a default is that the bond market refuses to buy its bonds and/or avoid them enough that it drives up the bond yield really high (which in turn spooks other investors and causes a death spiral). No matter how "austere" Italy can get it still must borrow new cash from the bond markets and will be screwed if it cannot do that. Whether austerity is better or worse .... hard to say in the real world. Austerity should reduce spending, reduce the need to borrow, and make lenders more confident. But it also may have the unintended consequence of causing a recession, which in turn reduces tax revenue, which in turn can cause a default despite the austerity. It's truly a tricky issue.

Why are Greeks being such children about austerity measures? by Q: They're like kids who refuse to take the medicine. Sure, the taste is horrible, but it's far better than being sick: or in Greece's case, the austerity measures leave a bitter taste, but it's far better than being kicked out of the Eurozone and having a lower quality of life for good. Would any Greeks care to help me understand why there is such a huge backlash? It seems wildly irrational to me, but at the same time I don't live there, so I guess I really can't judge.

A: They were sold the same line of lies the dems and progressives have filled the heads of our poor and disenfranchised with, The government will always be there for you, Trust us. And now that the rank and file greek has figured out they have been fed a line of shit. They are extremely upset, and don;t care that the mother government is broke and can not deliver. They want what was promised. Just like the Sheep and losers in this country, Uncle Sam has turned into a pedophile. He is now raping our childrens childrens futures. All in the Name of Barack Insane Obama.

In what different ways can I practice austerity- Do you have any suggestions? by ksantiMIA Q: What things can I do to practice austerity for spiritual/religious purposes?

A: If you are doing it for religious purposes then you are not supposed to tell anyone or even let them know you are doing it. That would be bragging. The Japanese have a word "shibumi" that is the art of understatement in lifestyle and living conditions. .

who are the people protesting the austerity measures in Greece, and are their actions justified? by Q: I assume the people protesting the austerity measures are greedy government workers, and union workers, much like what you see in this country. But not one to follow International politics, perhaps their situation is different in Greece. ok ma ma so apparently it is not as simple as it seems to be here with the unions and government workers always wanting more, and unwilling to sacrifice. I will just have to accept that I don't understand what's going on over there.

A: The Greek people are certainly not greedy, why should they payout to those London, New York and Frankfort loan sharks, the Greek people were not the ones who ran up the debts, it was the housing and credit boom in s.e England and metropolitan U.S etc. that racked up the debt, and now they want to transfer that debt onto the Greeks and others while they enjoy 0.5% base rates, they are the greedy ones these Trioka Shysters have no shame and no morality, they should face up to their own greed and pay their own bills.

When will Obama start to implement austerity programs? by Tom Q: obama is so fond of imitating the EU - might as well try austerity programs as well. Heck, the producers of society are suffering - why can't the Leaches of Society suffer a little too during this recession? I know, they would have to cut back to 3 cartons of cigarettes a week - It would be tough!

A: "Conspiracism" - an ideological worldview that blames societal and individual problems on perceived conspiracies. Conspiracism takes the anger over unfairness and corruption in a society and shifts it away from actual systemic and institutional causes. Instead, conspiracism scapegoats the problems on alleged cabals of evil plotters. So citizens waste a lot of time chasing ghosts and shadows rather than organizing to fix what's broken.

what economic theory does austerity fall in? by questionguy3334 Q: I know that the U.S is trying to follow a Keynesian approach to economic policy. Europe is pledging austerity. What school is Europe falling into now? Are they more aligned with the Austrian, or some neoclassical?? I am trying to discuss the contrast between Europe's policy and Obama's policy. Obama is identified more closely with Keynesian economic thought. If we HAD to pick, what school Europe most closely identified with now.

A: Wishful thinking? http://www.nytimes.com/2010/07/02/opinion/02krugman.html http://delong.typepad.com/sdj/2010/07/jean-claude-trichet-rejects-the-counsels-of-history.html http://www.newstatesman.com/blogs/mehdi-hasan/2010/07/bernanke-depression-trichet Then they could by lying and really be members of Austrian School or liquidationists saying that we need depressions to "purge the system" (they say austerity will stimulate the economy; the liquidationists know better but say the contraction is a good thing): http://www.conservapedia.com http://www.accessmylibrary.com/coms2/summary_0286-35079776_ITM http://dollardaze.org/blog/?post_id=00364 http://www.thepeacockden.com/2009/02/are-you-liquidationists.html/Great_Depression#Discussion_of_remedial_measures http://krugman.blogs.nytimes.com/2009/06/16/the-return-of-liquidationism/ For a summary of the debate: http://www.ft.com/cms/s/0/dc3ac844-9010-11df-91b6-00144feab49a.html

What are "austerity" measures that European governments are trying to impose? by Dinah Q: Riots are happening in Brussels, Spain, Portugal and elsewhere. People oppose the "austerity" measures. What's that?

A: First of all: Balancing the budget of these countries. This means reduce spending and the extremely "generous" pension plans of government workers (this problem sounds familiar to Americans these days). Increasing the age for retirement. The early retirement age was an absolute abuse of economic principles. One should also understand that Europeans workers have extremely generous vacation plans. And then they enjoy a 13th or even 14th salary as benefit. All this is being reviewed and some has already changed. That's why we can watch the riots. Riots of people who are unwilling to support a stable economy in their countries. They all have political myopia.

Democrats: What is an austerity package and why are European countries being forced to accept one? by Joe in texas Q: Italy and Greece for example are being forced to accept austerity packages as an attempt by the European Union to prevent the collapse of the EURO.

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