Anonymous
Anonymous asked in Politics & GovernmentPolitics · 9 years ago

When the Euro collapses will cons try to blame Obama or will they accept that austerity is a failure?

cutting spending is the opposite of growth.

Update:

RT, No nation has ever cut itself out of debt. That is like owning a company that is losing revenue and you decide to cut your entire sales force.

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  • R T
    Lv 7
    9 years ago
    Favorite Answer

    Spending yourself into oblivion so that you have no choice but to make deep cuts is the cause of the failure.

    Wake up.

    Source(s): ///
  • Noah H
    Lv 7
    9 years ago

    Sometimes there is no good way to stop a collapse in progress. The post war capitalism that we all know and love became more of a religion than a rational system of production and distribution. An attempt to never change an economic system that's 'working' until it becomes obvious to a wide cross section of economists that structural changes MUST be made to accommodate the needs of changing populations and changing social and political realities leads to really bad mojo. Of course anyone who suggests these changes is called a 'liberal', a socialist or a commie....so the changes never happen. The bilge pumps are never installed, much less activated....and then the ship sinks. 'Too late' actually MEANS 'too late' and at that point EVERYTHING you do is either wrong or not effective. History is loaded with tales of 'too little, too late'.....but who actually reads history anymore....instead we read 'polls'.....bummer for us, eh?

    Source(s): Former history professor at a pretty good university.
  • Kara
    Lv 5
    9 years ago

    The Euro is collapsing because the nation states involved had to pump billions of tax euros into supporting failing banks because the open market couldn't manage itself. If/when it does collapse the governments in power are going to get the blame, because the media has an aversion against analysing problems and placing blame where it is due.

  • ?
    Lv 6
    9 years ago

    No, I'll blame Europe for ever forming a monetary union and being wasteful welfare states.

    Edit: businesses cut their overhead and lay people off you ignoramus.

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  • 9 years ago

    Thats backwards.You can't spend your way out...

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