NEW YORK ( Bullion Bulls Canada) -- Austerity has failed. You won't see that in any of the headlines from the media propaganda machine, and for a very good reason: Our intellectually bankrupt governments have no "Plan B."The evidence of the colossal failure of Friedman Austerity is both abundant and unequivocal. Greece was an insolvent economy in steady decline when its own "austerity" was commenced. After two years of austerity it was totally bankrupt, and the economy had been so completely destroyed that even after defaulting on 75% of its debt further default already seems inevitable. Austerity transformed an economic decline into one of the most rapid economic collapses in modern history.
Europe's 'New Austerity' -- The Cheesecake Diet
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