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Obama does not appoint people to the Bank of Italy as far as I know! -)
by rootless2 on Mon May 23rd, 2011 at 09:21:34 AM EST
[ Parent ]
But he's going to be appointed to the ECB.

So you can go around telling people that Obama doesn't appoint GS people to the Fed, but the EU appoints them to the ECB.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 09:31:51 AM EST
[ Parent ]
Obama does not appoint the ECB. It's fucked up on its own without US assistance.
by rootless2 on Mon May 23rd, 2011 at 09:53:03 AM EST
[ Parent ]
Precisely. The US is better off than the EU, despite all the Obama-haters out there (and out here).

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 09:57:42 AM EST
[ Parent ]
At the moment the US is better off than the EU.  I wouldn't bet my life savings on that lasting.

The average US citizen has no savings, is deeply in debt, doesn't have any assets, the average Cost of Living exceeds the average wage, and there's only a laughable "safety" net.  This is a recipe for micro-economic collapse.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Tue May 24th, 2011 at 01:45:44 PM EST
[ Parent ]
That seems to be more an issue of timing than anything else. The US at the federal level just needed a little more time to let austerity Jesus into their heart.
Alas, too late for the rapture obviously.

And speaking of lack of faith:

Hurra, ein Konjunkturwunder!

"Die privaten Konsumausgaben legten um 0,4 Prozent zu, die staatlichen Konsumausgaben um 1,3 Prozent."

The state is responsible for three quarters of the consumption growth in Germany.

by generic on Tue May 24th, 2011 at 02:44:25 PM EST
[ Parent ]

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