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1 Romantic Heretic  Fri, Feb 15, 2013 4:23:44am

Why are they surprised? To a country they followed policies, loosely called ‘austerity’, that guaranteed this would happen. Although the only people who had to go ‘austere’ were ordinary people.

2 aagcobb  Fri, Feb 15, 2013 5:08:17am

This only means they have to double down on austerity, so that the business community will gain confidence that no matter how much misery it creates they won’t back off! Herbert Hoover would be proud.

3 kirkspencer  Fri, Feb 15, 2013 6:36:39am

A small correction. SOME economists are shocked. The keynesian types (aka saltwater, aka “Krugman and company”) have been warning of this for a while.

Pretty much everyone has times when their biases (philosophies, principles, whatever) will cause them to ignore facts. But when a group of people do this consistently for a number of issues (economics, climate change, evolution, etc) then I have trouble seeing why the rest of us let them continue to make decisions on our behalf.

4 majii  Fri, Feb 15, 2013 6:00:13pm

re: #2 aagcobb

This is exactly what PM Cameron and Chancellor Osborne say they plan to do in the UK. They remind me of our republicans in Congress because they all ignore any data that doesn’t support their beliefs.

5 majii  Fri, Feb 15, 2013 6:06:01pm

re: #3 kirkspencer

I think the reason some Americans continue to vote for republicans, who are definitely pushing austerity, has to do with them not understanding economics and with their tendency to be anti-abortion and anti-LGBTQ. Here in GA, any republican politician who wants to get elected always portrays him/herself as pro-life, anti-LGBTQ, and expresses a belief in having no restrictions to gun rights of any kind. Oh, and they always portray themselves as Christians who don’t believe in science,the Establishment Clause, or that one should respect the religions of others. Say these things, and although you are dumb as a fencepost, you’ll get elected here.


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