Study Finds Eurozone Austerity Is Killing Economic Growth, Increasing Debt

[eridani]

http://thinkprogress.org/economy/2012/10/31/1115711/study-austerity-fail/?mobile=nc

Eurozone unemployment hit another record high last month of 11.6 percent. 18.4 million Europeans are out of work. In some countries, unemployment has hit 25 percent.

According to a new study from the National Institute for Economic and Social Research, a London-based research organization, the austerity measures implemented across Europe in an attempt to get the continent’s debt under control and stem its financial crisis have actually made matters worse, stunting growth and increasing debt:

[Democratopia]

1. Didn't need a study to tell us that. Was always a highly predictable result of shrinking public

sectors at a time economies needed stimulus.

[xchrom]

2. GASP! Do tell. Nt

[Warpy]

3. Gee whiz, what a shock.

Punishing labor for the sins of capital sounded like such a great idea to capital. It always does, get them back for sucking up so much of the profits through wages, greedy bastards.

I just hope US capital is paying attention to this but I know I hope in vain. If Romney manages to cheat his way in, we're going to look just like Greece, maybe worse.

It's not going to work any better here than it has there.