On What Germany Has Learned About Debt And Other Links
Topic of the day: German economic policy
This Op-Ed in the New York Times echoes some themes I laid out in "Lessons We Can Learn On How Stimulus And Jobs Programs Failed in Eastern Germany" and deserves reading.
The point is not that austerity is good but rather that "Germany has… a strategy. [It] will launch… next year (unlike most of its European peers, Germany still has an expansionary budget in 2010) with saving measures representing less than 0.5 per cent of GDP." These are the words of Germany’s finance minister. The Germans are attempting to thread the needle between austerity and stimulus during a period of slowing economic growth and a sovereign debt crisis. Will they succeed? Time will tell. Also see Why I am siding with the Germans on fiscal consolidation.
The Usual Fare
- Republican Tax Nonsense | Capital Gains and Games
- Julian Jackson, "The Politics of the Gold Standard in France, 1914-1939"
- Europe freezes out Goldman Sachs | Business | The Observer
- Hyperinflation, David Henderson | EconLog | Library of Economics and Liberty
- More On Deficit Limits – Paul Krugman Blog – NYTimes.com
- The Debt Supercycle | Credit Writedowns
- Misunderstanding Modern Monetary Theory | Credit Writedowns
- I Would Do Anything For Stimulus, But I Won’t Do That (Wonkish) – Paul Krugman Blog – NYTimes.com
- BBC News – Big hips ‘impair’ women’s memory, a study finds
- Are Big Breasted Women More Intelligent? | BeyondJane
- "Masses of Worthless Paper" | Credit Writedowns
- Macroeconomics, Representative Agents and Demographics (wonkish) | Credit Writedowns
- Economist’s View: "Political Aspects of Full Employment"
- Economist’s View: What Problems were Solved by Financial Reform Legislation?
- Dow index falls as big banks make money but not new loans – CSMonitor.com
- Why Facebook friends are worth keeping – New Scientist
- Economist’s View: "In Finance We Distrust"
- PIMCO ups US govt debt weighting | News | Business Spectator