this post was submitted on 30 Aug 2023
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[–] [email protected] 24 points 1 year ago* (last edited 1 year ago) (2 children)

Fuck austerity. It doesn't work and the IMF should fucking stop pushing for it.

(it only works to fuck up countries)

[–] Zippy 2 points 1 year ago (1 children)

Yet Argentina had destroyed their economy for 25 years because they won't act responsible and institute policies of austerity. This just keeps happening to them.

Other countries in the same bed that have ignored austerity policy, Venezuela, Zimbabwe, Sudan...

So ya it is actually a necessity unless your fine with triple digit inflation year after year.

[–] [email protected] 2 points 1 year ago

According to a 2020 study, austerity increases the risk of default in situations of severe fiscal stress, but reduces the risk of default in situations of low fiscal stress.

https://en.wikipedia.org/wiki/Austerity#Empirical_considerations

Hammer, see nail.

[–] jungle 1 points 1 year ago

So the plan is to continue printing money to fund the deficit? Great way to get inflation under control. It's working wonders in Argentina.