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Austerity is like a staring contest. Whoever has the deeper pockets wins, therefore in the political tug-of-war to decide who tightens their belt, it's the mass of people with no wealth that lose out. The wealthy can outlast the poor by eating the seed corn.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Sun Jun 6th, 2010 at 12:30:45 PM EST

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