Wednesday, February 20, 2013

Keynesians and Other Snake Oil Peddlers

Economists that despise fiscal discipline - those that believe that the word "austerity" is pejorative - may hysterically scream as much as they want, but one real, obvious, always proven macroeconomic fact is that fiscal discipline eliminates internal and external macroeconomic imbalances, as economists with the IMF used to know, and as exemplified by Latin-American and Asian economies in the 80s and 90s and by European economies now, see these recent news:

Italy Posts First Full-Year Trade Surplus Since 1999

Exports Drive 33.6% Reduction in Spain 2012 Trade Deficit

Greece December Current Account Deficit Narrows Sharply

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