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A poem I found on NYTimes.

Recs

1

May 24, 2012 – Comments (4)

Most
Economists
Reckon
Keynesian
Economics should
Lead to

Inprovements in
Spain.

Saving in
Times of high
Unemployment is a
Path to
Inevitable
Depression

(Dirdam Pamplona)

Thanks Dirdam!

--

 It seems like either we are going to see Eurobonds or Greece leave the EU.  Hopefully we won't see bank runs over there.  It might take Germany entering a recession for change to happen.

  

 -Rof 

4 Comments – Post Your Own

#1) On May 25, 2012 at 10:29 AM, portefeuille (99.60) wrote:

Germany entering a recession

No, thank you, hehe ...

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#2) On May 25, 2012 at 10:32 AM, portefeuille (99.60) wrote:

Ifo Business Climate Index Falls Sharply

 



enlarge

 



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#3) On May 25, 2012 at 10:37 AM, portefeuille (99.60) wrote:

#2 The business outlook nevertheless remains above the long-term average.

The correct translation would be

The business situation nevertheless remains above the long-term average.

(German original text.

Die Geschäftslage befindet sich aber immer noch oberhalb des langfristigen Durchschnitts.)

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#4) On May 25, 2012 at 1:16 PM, rofgile (99.32) wrote:

Portefeuille:

 Do you think Germany's policies are the right ones? I.e., pushing austerity measures on southern states rather than stimulative measures combined with debt reduction? 

 I am skeptical about US & UK coverage of European economic policies and debate for sure.  I definitely still think US & UK coverage of Spain is far more negative than actual over there.  We hear lots about 25% unemployment, though it seems that many more are actually employed (perhaps 16-18% unemployment) just working off the official books to avoid tax payment.  

 ---

 The success of Germany is often attributed to currency benefits for trading with other EU nations (ie, German products sell at lower price to other EU countries than if countries had individual currencies).  However, it seems like in the last couple of years the trade balance with other EU nations has been shrinking, and where Germany is really excelling is trade outside the EU (competing against UK and US).   

 So, other EU countries should also be doing better at exports outside EU, but aren't...

 Germany is just a damned competitive place in the world economy.  I can see sometimes why it seems like Germany is standing up for its perspective on the EU.  But, I fear that the German stance benefits most Germany at the expense of the other countries (and other policies vice-versa).  

 Just some thoughts.. I don't have a conclusion.  I would like to visit Germany some day and have some good beers. 

  

 -Rof 

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