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Because clearly everyone can be a net exporter.

If Germany generates inadequate domestic demand with irresponsible wage suppression, someone, somewhere is going to have either unemployment or bubbles. Passing that problem around like a grenade with the pin pulled out does not strike me as the pinnacle of responsible behaviour.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Jun 17th, 2011 at 05:16:31 AM EST
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