Austerity and Growth Compacts

There is considerable discussion that Europe cannot recover with austerity alone, a "Growth Compact" in needed.

Wouldn't it be interesting if one economic bloc had followed an austerity plan and was plunging deeper into recession while another had followed aggressive easing and appeared to be recovering.

For polititians austerity is tough to sell at election time, as we see in France. 

Maybe this would embolden Central Bankers and polititians to engage in much more easing, even in an election year.

Here Stiglitz leads the charge against austerity

Gold's timing cycle is ready to respond to aggressive easing.