18 February 2015

Baltic Economic Miracle in two graphs

Latvia and the Baltic economies are often cited as examples of what the virtue of pain, austerity, can do.

How was this Baltic economic miracle achieved? Depopulation

And the medicine:
Latvia’s economy fell by more than 20 percent from its peak in 2007. By doing what EU officials want, as fast as possible, it successfully reduced the ability of Latvians to make more Latvians and lost a large slice of its population. In doing so, it managed to become the best performing shrinking economy in the European Union.
The message to Greece is that austerity can work.....if it has a responsible macro-pruning government to stamp on its own population to death until they leave or stop breeding.

...unless, Schaeuble has an efficient or quicker way to reduce the population of Greece.

If you want a vision of the future, imagine a boot stamping on a human face - forever." - George Orwell (1984)

Reference: Used to hardship latvia accepts austerity and its pain 


1 comment:

  1. hello! very artistic funny but really informative article! I would just like to comment that one of the main strengths of the balkans are products that can be exported on a global scale. By increasing thus the exports, these graphs above would look pale in comparison to what might be achieved!