If you are getting mocked by a majority of economists, journalists, and politicians, you must be doing something right. Cases in point: Ron Paul, Peter Schiff. Lately, Germany has been the butt-end of jokes due to their complete lack of support of “quantitative easing,” better known as “devaluing the money supply” as well as their disinclination to keep up with “stimulus packages,” or “throwing money down the drain” as it’s more commonly referred to.
In fact, it’s so strange to see one of the modern heads of state, who are presumably all puppets for corporate interest, to say anything against the holy relic of Keynesian economics, that it’s worth noting, especially when that person is head of the largest economy in Europe. With common sense like that, will Germany pull the Euro out of its slump, or leave the rest of Europe to its fate and return to the Deutschmark? Either way, it will likely pull away from the half-hearty, half-poisonous relationship it has with the sinking ship known as the USA, and draw closer to its half-hearty and half-poisonous relationship with Russia.
Not only has Germany decided to opt out of the West’s Zimbabwe solution, but it has also decided to reign in spending, and will likely make it something akin to a crime to run with deficits in the future. This makes way, way too much sense. How dare Germany be willing to undergo some severe immediate pain to improve its long-term economic outlook? How anti-consumerist; how anathema to the concept of instant gratification. Is the USA going to let this independent and responsible thinking go unpunished? If so, it would signal the fact the USA is no longer able to convince partners around the world to ruin their economies in a sort of lowest common denominator game of musical chairs. And that would be noteworthy indeed. As many countries, from Greece to Brazil will tell you, it’s not a good bet to take with the USA.
Today’s article of doom: There is something satisfying about watching a man rave about the economy while beating things with a stick.