[HN Gopher] Germany, Switzerland, Austria join call for return t...
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       Germany, Switzerland, Austria join call for return to budgetary
       discipline
        
       Author : mennaali
       Score  : 10 points
       Date   : 2023-08-23 21:47 UTC (1 hours ago)
        
 (HTM) web link (www.reuters.com)
 (TXT) w3m dump (www.reuters.com)
        
       | FirmwareBurner wrote:
       | Switzerland is not EU nor Euro member, what do they have to do
       | with it? Why not Italy with its 134% GDP debt?
       | 
       |  _> Germany's Lindner said it had become habit for the state to
       | always rush to the rescue with borrowed money and that had to
       | stop._
       | 
       | No shit. Bit late to figure that one out, eh? Hindsight 20/20.
       | 
       |  _> "Otherwise, Germany will have to raise taxes to finance the
       | interest on the debts of the past. That would strangle the
       | economy," Lindner said._
       | 
       | Oh, so first you print free money and dump it into inflating
       | assets making the rich obscenely rich, and now Joe Schmoe will
       | have to be taxed to pay for it?
       | 
       | So that's how trickle down at works. Privatize the winnings,
       | socialize the losses.
        
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       (page generated 2023-08-23 23:01 UTC)