Crisis in Europe - Austerity Vs Growth: Is There Really a Choice?

Well I'm sure you've already worked it out yourself but you just can't avoid that question, nowhere to hide and nowhere to run. We are pouring fortunes we don't have into trying to keep several countries afloat in Europe while at the same time suffering all the pains of cut backs.

One of the big problems is that a sizeable portion of the general public don't seem to realise that austerity isn't a political doctrine or a strategy; unfortunately it's a fact of life. Given that there isn't any money left in the bank it seems pointless endlessly discussing how we should spend what we haven't got. France and Greece have now both elected political parties who espouse a "go for growth" policy, but however popular it may be with their electorate there's a huge problem with this political dogma. The elephant in the room being the fact that we haven't got the money to invest, it just isn't possible for everyone to borrow the money to give it a go. 

A Search For An Explanation Of The 2008 Financial Crisis

My search to what caused the 2008 financial crisis began because I wanted to know the real story behind what happened to our economy and how something like this was allowed to happen. I am sure I am not the only one out there who was tired of the news, politicians, bankers, and professors talking over our heads with words like credit default swaps, derivatives, collateral debt obligations or CDO's and this list goes on and on. What is even more frustrating is that I have a BS in Finance and worked in the financial sector and I still had a tough time understanding all the explanations of this crisis.

Now, how is it that a person who has a degree in the subject and a person who worked in the sector had a tough time understanding the explanations of the 2008 financial crisis? Well, you see, the problem is that there are two very distinct groups of people in America: "Wall Street" and "Main Street". By "Wall Street" I mean the individuals that main street puts in-charge of their financial dealings so that everyone will prosper.