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Austrians are not Austerians


Robert Wenzel makes this important point.

[Krugman] writes:
Has there been anything comparable on the Austrian/Austerian side?
Why would any economist who knows anything about Austrian economics and bankster austerity programs link the two? Austrian economists have never supported any plan to suck dry the masses via taxation to payoff banksters holding government debt, which is what austerity programs are all about. As the leading Austrian economist, Murray Rothbard, put it:
I propose, then, a seemingly drastic but actually far less destructive way of paying off the public debt at a single blow: outright debt repudiation.
This is the exact opposite of austerity programs, which are designed to prop up sovereign debt and insure the banksters are paid.

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