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This is a debate about the stories being told about statistics that are semi-attached to the real economy.

We all know GDP is a crock and that government debt figures are distorted in all sorts of ways. So we compare one to the other and it's a disaster? There is no reality there, is there? It's all about perceptions - Belgians are hard working and Protestant, so their debt is good, but Greeks are lazy and Mediterranean, so their debt isn't.

by Colman (colman at eurotrib.com) on Thu Feb 11th, 2010 at 08:57:54 AM EST
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Belgians are hard working and Protestant,

Wait until the bankers discover that the Belgians are (nominally) Catholic and their debt collapses....

by gk (gk (gk quattro due due sette @gmail.com)) on Thu Feb 11th, 2010 at 09:04:58 AM EST
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Huh. I never get these things right. I thought France was largely Protestant until recently for some reason.

I should just have said "hard working and white".

by Colman (colman at eurotrib.com) on Thu Feb 11th, 2010 at 09:08:55 AM EST
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I sure hope you haven't made that mistake in Ireland...
by gk (gk (gk quattro due due sette @gmail.com)) on Thu Feb 11th, 2010 at 09:10:18 AM EST
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will be blamed on the profligate French speaking part, which absorbs heavy social transfers from the hard-working Flemish part.

There, we're back in the narrative.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Thu Feb 11th, 2010 at 09:39:41 AM EST
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