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Home › Forums › Financial Markets/Economics › IMF admits disaster in Austerity orders
They didn’t admit disaster.
When you take away the stimulants, things adjust.
It also seems to be complete common sense that if you take away a $1 of deficit spending that you’d lose more than a dollar of economic output. You’re starting with a $1 of vapor money. That’s $1 in economic output just on the deficit spending. Add the incremental trickle down and get a $1.50.
So is Greece better off today or would they have been better off keeping on the path they were on?