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hardnox
Advisor

The austerity road to Venezuela

http://www.telegraph.co.uk/business/2016/05/11/italy-must-chose-between-the-euro-and-its-own-economi...

 

"The putative savings from drastic fiscal austerity - cuts in public investment - were overwhelmed by the crushing arithmetic of the 'denominator effect'. Debt was 121pc in 2011, 123pc in 2012, 129pc in 2013."

8 Replies
BA Deere
Honored Advisor

Re: The austerity road to Venezuela

What we often forget is that part of the austerity equation can involve tax increases, Democrats like that part.  This is a little bit related, but my Daughter tells of a new boy in her school and he has a job at McDonalds.  I was interested if he was saving for a car or college?  "No" she says "he has to work a shift after school late to help the family with their bills" .  I`ve heard of stories as that in the past, but in this area, in this day & age a bright young man having to go directly from school, not to pay for his entertainment , but to help support the family.  That really put a lump in my throat...I don`t know if the family is that proud or if they just exhausted all other options, with putting their boy to work was the last one or what.

Canuck_2
Senior Contributor

Re: The austerity road to Venezuela

Does your daughter help out on the farm?

Is that because of family financial necessity?

r3020
Senior Advisor

Re: The austerity road to Venezuela

My daughters helped out on the farm to learning the meaning of the word responsibility.

BA Deere
Honored Advisor

Re: The austerity road to Venezuela

Smiley Very Happy  Ha, that Diva working on the farm?  No, we have to subsidize her lifestyle.

Canuck_2
Senior Contributor

Re: The austerity road to Venezuela

So 20's daughter works on the farm to learn responsibilty and I guess she does not contribute to the financial position of the family and you daughter does not contribute, indeed draws on the family finances and does not learn responsibility either.

hardnox
Advisor

Re: The austerity road to Venezuela

My first thought was that little anecdotal cul-de-sac was a dead end but I'm actually thinking not.

 

The good citizens of Kansas are learning a great deal of personal responsibility from the Daddy Party.

r3020
Senior Advisor

Re: The austerity road to Venezuela

My daughter has paid most of her own college education. Very responsible and a large contribution to the family. How you can same responsibility is not a contribution to the family's finances is beyond me.

BA Deere
Honored Advisor

Re: The austerity road to Venezuela

She is about the hardest worker I`ve ever seen, just not farm work.  She doesn`t like living in the country, she just isn`t built to be a farmer.  And neither are any of my kids, that is fine farming is tough and isn`t for everyone.  My kids are very focused on what they want, my Son is visiting a few days before his internship across the country and is explaining to me about  "P verses NP" and "the travelling saleman problem" ...I try to keep up and nod my head, a little sad but very happy, he wouldn`t be challenged enough on a farm.   Me, I was built for alot of simple tasks  🙂