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> Did you miss the Euro crisis? Austerity is forced deflation. One look at some of the history of austerity: * https://en.wikipedia.org/wiki/Austerity:_The_Hi
by throw0101b 2y ago
> Did you miss the Euro crisis? Austerity is forced deflation.
One look at some of the history of austerity:
* https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Dangerous_Idea https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Da...
- JumpCrisscross 2y ago“Blyth argues that the case for increasing economic growth through austerity is overstated, is counterproductive when implemented during recessions, and has exacerbated the Eurozone crisis.” Yup! Unless you’re rich, deflation is historically cursed. (That said, I repeat that it hasn’t been proven to be bad.)