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What was the oxymoronic phrase, 'stimulative austerity'? Well that is appropriate. What it stimulated was an economic collapse, as all of the critics were claiming. But we must keep our eyes fixed on the morality play instead of noticing such trivia. Its other people's lives, after all, that are affected.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Feb 17th, 2012 at 02:13:06 PM EST
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It was "Expansionary Austerity". How that was supposed to work was through the "Confidence" fairy.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Carrie (migeru at eurotrib dot com) on Fri Feb 17th, 2012 at 02:24:09 PM EST
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That is also apt in that they have greatly expanded the black hole into which they are being drawn.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Feb 17th, 2012 at 09:46:23 PM EST
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