Wednesday, July 6, 2011

Will Fiscal Austerity Lead to a Depression?

Edward Harrison

In the video at the end of this post I speak to RT Television about fiscal austerity in the UK and the likelihood of fiscal austerity in the US.

A few thoughts here:

Barack Obama says:

Government has to start living within its means, just like families do. We have to cut the spending we can’t afford so we can put the economy on sounder footing, and give our businesses the confidence they need to grow and create jobs.

Wrong on every single count. This is why the US is probably headed for a repeat of 1938. The President knows better, but he’s saying this stuff anyway. If you have the President spouting this nonsense, you know the Republicans will use it to force cuts that will weaken the economy.

More Here..


  1. Don't pay attention to what Obama says. He is saying what he thinks will allow him to do what he wants. Obama doesn't really want the government to "live wiuthin it's means", what he wants is to increase the "means". This is and has always been about increasing taxes and increasing spending. Just as the phrase "immigration reform" is not about stopping illegal immigration, the phrase "living within your means" is not about living within your means.

  2. This stupid sonofabitch basically has no clue; never having held a real job, run a real company
    or had to meet a real payroll; where dozens of your best employees who have made many a sacrifice to ensure the viability of said comapany; are not only your employees, but their your neighbors, your firefighters, on the board at the YMCA and your kids play together
    at the same schools.

    That's the America I know and love; not this big government snobbish too big to fail political nightmare thing that people like obama
    have turned it into

    Time to go back 75 years


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