4 ms·
Ofc and I left France the day I realized it was impossible. Not because of the high roller bankers but because the people literally cannot accept a balanced bud
by xwolfi 4y ago
Ofc and I left France the day I realized it was impossible. Not because of the high roller bankers but because the people literally cannot accept a balanced budget to live within our means.
Now Im in Hong Kong, where as you know the people have little say and slogans like "5 demands not one less" is not met with fear like in France, but with police aggression. But, we have a balanced budget. We had a record tax revenue this year if you can believe it. All problems are simpler when you have a surplus, even at the individual level.
So I'm happy but people here envy France where the street can clawback what's hers even at credit...
- zeckalpha 4y agoHong Kong? Where they have a balanced budget? ECB is more like this than Hong Kong’s budget https://en.m.wikipedia.org/wiki/Linked_exchange_rate_system_in_Hong_Kong https://en.m.wikipedia.org/wiki/Linked_exchange_rate_system_...
- Tehdasi 4y ago"Ofc and I left France the day I realized it was impossible. Not because of the high roller bankers but because the people literally cannot accept a balanced budget to live within our means." https://tradingeconomics.com/hong-kong/households-debt-to-gdp#:~:text=Households%20Debt%20To%20GDP%20in,the%20fourth%20quarter%20of%201990 https://tradingeconomics.com/hong-kong/households-debt-to-gd.... vs. https://tradingeconomics.com/france/households-debt-to-gdp#:~:text=Households%20Debt%20To%20GDP%20in,the%20fourth%20quarter%20of%201977 https://tradingeconomics.com/france/households-debt-to-gdp#:....
- ClumsyPilot 4y ago> not met with fear like in France, but with police aggression Willingly chose tyrany? Uncle Rukus, is thar you?
- imtringued 4y agoIt is impossible. Austerity results in a reduction of the interest rate, even if the interest rate is already at or below zero. If you want to increase the capacity of your economy to absorb austerity, you also need to increase the capacity of reducing interest rates below zero.
- naveen99 4y ago> austerity results in a reduction of interest rates Citation or example ? You can have a balanced budget and positive interest rates.