Cut government spending during a Depression and the economy tanks. Duh!!!
This is not a left right argument but history of the Great Depression coming to a neighborhood near you.
RETAIL SALES, PMI REPORTS SHOW WEAKENING EUROZONE ECONOMIES | PRAGMATIC CAPITALISM
Carrefour, Europe’s biggest retailer, said it would focus on cutting prices to lure back consumers as it braced for another tough year as cash-strapped shoppers reduced spending. The French group, posting a 0.1 percent drop in underlying first-quarter sales, said it was hit by continued weakness in its core French hypermarkets and in austerity-hit Southern Europe, where shoppers cut back on purchases of discretionary non-food items. This problem is not unique to Carrefour. The Eurozone is experiencing a sharp contraction in the retail sector.
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