Friday, June 19, 2009

Rebalancing problems

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 (825 views)
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2 thoughts on “Rebalancing problems

  • stillthinking says:

    tsk tsk, this is important news. Completely ignored by HPCers.

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  • The biggest issue here, is that they can’t balance the books for over a decade, they are BROKE!!

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