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<blockquote data-quote="TechnicalPossum" data-source="post: 160215" data-attributes="member: 1648"><p>Looks like a tentative deal has been reached. </p><p></p><p><a href="http://www.bbc.com/news/world-europe-33503955" target="_blank">http://www.bbc.com/news/world-europe-33503955</a></p><p></p><p></p><p></p><p></p><p>You also have to account for the reduced annual deficit when looking at austerity, not just the debt reduction since the Greek budget was not balanced to start with. Krugman is also an advocate for the welfare state by his own admission, so I generally take anything he has to say about reductions in public spending with a grain of salt.</p><p></p><p>I also think that you may possibly overestimate the true recovery in the US as the QE money has not been pulled back out of the economy and the true unemployment is closer to 10% when workforce participation and underemployment is accounted for. When the QE money comes out of the economy and the interest rates increase, we will see the long term effects of monetary easing. </p><p></p><p></p><p></p><p>As did Cypress and Portugal.</p></blockquote><p></p>
[QUOTE="TechnicalPossum, post: 160215, member: 1648"] Looks like a tentative deal has been reached. [URL]http://www.bbc.com/news/world-europe-33503955[/URL] You also have to account for the reduced annual deficit when looking at austerity, not just the debt reduction since the Greek budget was not balanced to start with. Krugman is also an advocate for the welfare state by his own admission, so I generally take anything he has to say about reductions in public spending with a grain of salt. I also think that you may possibly overestimate the true recovery in the US as the QE money has not been pulled back out of the economy and the true unemployment is closer to 10% when workforce participation and underemployment is accounted for. When the QE money comes out of the economy and the interest rates increase, we will see the long term effects of monetary easing. As did Cypress and Portugal. [/QUOTE]
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