Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(New Europe)   Actual Headline "Europe in recession - finally, it's official"   (neurope.eu) divider line 9
    More: Obvious, Europe, recession, european states, PIIGS, Eurostat, pessimism  
•       •       •

574 clicks; posted to Business » on 16 May 2013 at 8:14 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



9 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread
 
2013-05-16 08:36:58 AM  
i.imgur.com
 
2013-05-16 11:42:07 AM  

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.
 
2013-05-16 12:08:39 PM  
"Finally"?  The Eurozone has been in recession for a year and a half.
 
2013-05-16 01:04:17 PM  
Recession II: Eurozone Boogaloo
 
2013-05-16 01:55:49 PM  
The EU is looking forward to only being in a recession. A nice idea that was farked by committee into a cash grab by unelected "one world" fascists. It's only going to get worse.
 
2013-05-16 02:14:37 PM  

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.


Of course there hasn't been. It's another red herring by the apologists to distract from the fundamentally flawed policies that have ruined a noble experiment. I hope the people incarcerate these jackholes who have ruined their countries.
 
2013-05-16 08:44:50 PM  
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.
 
2013-05-16 09:49:17 PM  

Fark_Guy_Rob: for governments to cut some waste


media.tumblr.com
 
2013-05-17 07:40:25 AM  

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.


And this is precisely the wrong way to think about recessions, because trimming the "fat" across all sectors simply leads to everyone's income falling and consequently a deepening the slump.  My spending is your income.  Your spending is my income.  If we both retrench, both of our incomes fall, and we're both worse off.  If our spending and incomes fall and you add a fixed nominal debt level to our balance sheets, we made even worse off -- possibly catastrophically so (waves to Europe).

I get that thinking about recessions in the mainstream economic way seems counterintuitive, because people always want to think about markets in a retarded Calvinist sense.  And they compound the error by confusing accounting with economics -- simply seeing identities instead of causal relationships between the variables that underlie those identities.

Asset bubbles happen.  House prices can't go up forever, just likes stocks, bonds, gold, and whatever else.  Using monetary and fiscal policy to try to tamp down on them is a good idea.  But allowing them to tank the rest of the system is all-world stupid.

Economics doesn't function on some idiotic religionist perception of morality.  Recessions are not about paying for previous "sins" -- which should be obvious, given that the group which pays the price for them is far larger than the one made up of those who have "sinned".  This is hard-won knowledge of the last hundred-plus years, and it's really depressing to watch people throw it away in service to these bizarre interpretations.
 
Displayed 9 of 9 comments

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
Advertisement
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report