Friday, Jun 19, 2009
Rebalancing problems
Canadian Press: Germany restricts government borrowing with new measures
Central German government have introduced rules such that the 16 states of Germany will have cleared deficits by 2020, and from that point will not be allowed to run deficits at all. This is a country that the UK needs to increase consumption, and they are belt-tightening. I just can't see the global rebalancing being anything other than a red herring, so we don't consider what debt slaves we have become.
Posted by stillthinking @ 12:26 PM (404 views) Add Comment
2 Comments
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1. stillthinking said...
tsk tsk, this is important news. Completely ignored by HPCers.
2. Bear said...
The biggest issue here, is that they can't balance the books for over a decade, they are BROKE!!