Zeno-25: [i.imgur.com image 793x412]
rugman11: Zeno-25: [i.imgur.com image 793x412]Has there really been that much austerity, though? According to the EU, government spending is still 3-4% higher (as a percentage of GDP) than it was during the decade before the recession. Sure, it's down from the peak years, but so is the US's, and our economy is growing right now.Fark won't let me post the chart, but here's EuroStats numbers for EU government spending as a percentage of GDP.
Fark_Guy_Rob: for governments to cut some waste
Fark_Guy_Rob: Nature is cyclical. We need a big fire to come along, burn down the forest and give life a fresh chance...I think Recessions are good. It's a great excuse for companies to trim the fat, for governments to cut some waste, and for people who have made foolish choices to be burnt. I saw several senior-level employees get canned because, deep down, everyone knew they weren't pulling their weight. Not only is the company better off without paying them, it creates a room for better employees to take more senior roles.I know a lot of people got burnt in the housing bubble - most people who remortgaged so they could spend more than they should have...but what happens when you have unlimited growth? Everyone with a house keeps getting richer and the barrier to buying a house becomes insurmountable for anyone who hasn't already had money doubling year over year.
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