News / Europe

In Europe, Angry Workers Protest Austerity

Protesters are pushed away by Spanish police officers during a 24-hour nationwide general strike in central Madrid November 14, 2012.
Protesters are pushed away by Spanish police officers during a 24-hour nationwide general strike in central Madrid November 14, 2012.
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Al Pessin

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by: MuckrakerW from: USA
November 14, 2012 2:42 PM
Austerity is terrible. It means the current economic climate for the nation-state has a debt to GDP ratio of nearly 100 percent or more. Moreover, people are going to have to give up even more, meaning a standard of living akin to abject poverty lay ahead in order to bring down the debt. Austerity is worse than sequestration in America, but still both are signs that the debt and deficits, and interest on both are threatening to bring the country or nation-state to total ruin. Living below one's means when one has lived high off the hog for years, is what austerity is all about. Furthermore, inflation eats away all the money a poor person has if they have any at all. For some it means the end of the world. For others it means the world has already ended. When a nation-state reaches a level of austerity they are vulnerable to a total take over by the IMF....
www.globalbabbler.com


by: Sensi
November 14, 2012 2:11 PM
So there was 0.0001 percent of the actual workforce striking? I just love how the media take things out of proportion and spin reality. It was nothing but business as usual here in Paris...


by: Trevor from: San Diego
November 14, 2012 2:05 PM
Economies do well when manufacturing is doing well in that country or region. Eastern Asia is just out producing and creating cheaper products than Europe and USA can. Banks will only invest in growth. There is no growth in Europe because of the high cost to manufacture a "good" be it a toothbrush or a car. The only way the USA is keeping up with China, they are not though huge deficite, is new technology. Its a horrible cycle people want cheap products so they go over seas, thus loses jobs at home, thus economies go down, thus life style goes down. Stop wining and create a business or service.


by: V from: Chi Town
November 14, 2012 1:48 PM
what else is new, banks get money from the gov't and gov't steals the money from the people

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