Here in Europe the word Austerity is being used in the wrong context, first of all we need to convince people that they need to live within their means. Maybe there will be a need for some real austerity for a while until the debt is reduced then if family’s and countries spend no more than they earn we may once again begin to get back on track.
Of course convincing people that have become accustomed to a lifestyle that a $1,500.00 weekly salary allows when their true earnings are closer to $1,000.00 is a difficult thing to do.
A spendthrift government trying to sell an Austerity program to its people is as funny as Italy borrowing at 6.9% to lend to Spain at 3%!
I live within my means and use cash above my immediate needs to buy physical Gold and Silver to insure my future purchasing power protection and I can recommend this course of action for those that enjoy a simple life and a sound night’s sleep.
If Dub will allow a couple of minutes of levity after the boring election weeks, it’s nice to see some of the younger people also have a handle on things: