Oh, there is a correlation between austerity and debt... just not the direction the pro-austerity people assume. Austerity not only doesn't work,it makes debts

Oh, there is a correlation between austerity and debt... just not the direction the pro-austerity people assume. Austerity not only doesn't work,it makes debts larger by reducing the underlying GDP. Austerity is really just the latest trick used by bankers to shift their debts on to lower classes. If you want more details, I highly recommend Mark Blyth's explanation ( https://www.youtube.com/watch?v=B6vV8_uQmxs#t=674 https://www.youtube.com/watch?v=B6vV8_uQmxs#t=674 )