Comments by "Grim Affiliations" (@grimaffiliations3671) on "How Spain Became the IMF’s Favourite European Economy" video.

The world is starting to realize that you can't get strong growth while pursuing austerity. You need the government to support demand wit expansionary fiscal policy
14
Its a booming economy by the standards of a nation that doesn't control its own currency. Places like the US and China can use fiscal policy to stimulate their economy to a much larger degree than any European nation because they take up debt in their own currencies
9
he said relative boom
4
facts
2
The US is growing so well because its running high deficits, and it can run high deficits with no problem because it controls its own currency, unlike any country in the eurozone
2
@Ruzzky_Bly4t Keynes supported austerity during non-recession times. I'm arguing austerity is bad at any point in the business cycle. I find the post-Keynesian approach to be better
1
@Ruzzky_Bly4t A lot of them can, but they've been trapped into myths perpetuated by the move toward monetarism in the 80's. They now seriously underestimate what the actual limits of the governments capacity to spend are. There can some benefits to scaling back when you have a low degree of monetary sovereignty, as we see in nations that have borrowed heavily in foreign currencies or abandoned their sovereign currencies altogether. But for nations that use their own currencies and borrow exclusively in those currencies (UK, US, Japan, Australia etc) there really isn't an excuse for austerity. These countries have full control of their interest rates and never need to worry about finding the money to pay their debts. As such, the only limit on their ability to spend is the physical capacity limits of their economies. Anytime these countries are not using fiscal policy to achieve full employment, they're missing out on tremendous amounts of growth. You can imagine how bad it is when they go the opposite route and inflict austerity on their people
1
@carlsderder You're issues following 2008 had a lot more to do with your property bubble, but yes you do need to be more carful as a country that does not control it's own currency
1
@ivani3237 spain aint the global south because its in the south of europe..
1