Doing Austerian Math

Amusing:

Yes, you read that right…the Bank of Spain blamed missing deficit reduction targets on fiscal austerity and then suggests additional fiscal austerity as the solution. And as all nations in the Eurozone increasingly pursue fiscal austerity, we can only expect the nascent European recession to deepen. Eventually, the European public will have had enough of the downward spiral.

via Economist’s View: “Did The European Deal Just Collapse?”.

Related posts:

  1. Chancellor: That Awful Frugality
  2. Readings: David Cameron, Cynical Deficit Hawks, Math, Credit, Immigrants, Sports, etc.
  3. Net Fiscal Stimulus During Great Recession
  4. Markets Discover Recession. Act Surprised.
  5. Home Prices and Math Illiteracy on the Markets

Comments

  1. mark says:

    "Eventually, the European public will have had enough of the downward spiral."

    And they will … what? Print trillions of Euros? Pass laws saying all debts are forgiven? Beg from China?

    No happy endings.

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