PDA

View Full Version : Zerohedge: the five stages of democracy, and why austerity is failing in Europe




Agorism
12-11-2012, 09:06 PM
http://www.zerohedge.com/news/2012-12-11/guest-post-ungovernable-democracy

Zerohedge: the five stages of democracy, and why austerity is failing in Europe (every single government who started it has been thrown out in Europe because democracy won’t accept it)

Stage one: countries are poor and they think that they are poor.

Stage two: Countries are getting richer, but they still think they are poor.

Stage three: Countries are rich, and they think of themselves as rich.

Stage four: Countries become poorer, and think of themselves as rich.

Stage five: Go through deleveraging and relative decline, which they are slow to accept.


http://www.youtube.com/watch?v=uCZtieTK4ZU&feature=youtu.be

Zippyjuan
12-11-2012, 10:54 PM
What is the goal that austerity is failing to meet?

If the goal is to improve the economies, yes, in the short term that is a failure. Austerity causes economic contractions. If it is to get deficits under control, it may be working but that remains to be seen- different countries are doing different things with their austerity programs.