German Economy Recovers After Eschewing Obamunism
Paul Volcker, former chairman of the US Federal Reserve and an economic adviser to US President Barack Obama, also argued recently that Europe should focus on encouraging growth rather than cutting spending. Referring specifically to France and Germany, he said in an interview with Bloomberg radio earlier this month that “it would help a lot if the rest of Europe, the strong part of Europe … if they have more growth, that will help these countries on the periphery.”
Germany, however, is taking the opposite approach. Rather than take on even more debt to ramp up the economy, Chancellor Angela Merkel wants to set an example for Europe on how to cut spending and reduce budget deficits.
How did that work out for the Germans? Pretty OK, Akshully.
The German economy … is growing at a sizzling (and obviously unsustainable) 9 percent annual rate. Unemployment in Germany has come down to pre-crisis levels.
The Obama Economic Policies are not intended to provide a prosperous economy for all Americans. The goal of the Obama Administration, in Teve Torbes words, is to “change America from a greedy nation to a quiet socialist nation that knows its place in the world.”
Obama is aiming to make the USA into Canada, or perhaps Venezuela, which his BFF Hugo Chavez has managed to turn from a prosperous country into a violent, crime-ridden, socialist craphole.