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In most ethical systems, the quack and the con-man is held to a higher standard of foresight than his marks.

That is just nonsense. Your picture of an europe where all other countries are not only powerless but not even able to understand what they sign is a fairy tale.

 >Which is chickenshit compared to the magnitude of money printing needed to restore private sector solvency.<

And that is shifting the goalposts. Tgere was a very considerable fiscal stimulus in Germany, perhaps the biggest in the G8.

 <Only if you do not then proceed to destroy those automatic stabilisers when they start working.<<p> The automatic stabilizers in Germany are unchanged.

 >No, Germany and France.

 If you start holding mini-summits with Merkozy and presenting their conclusions as fait accomplis that Germany will not deviate from, then Germany and France are to blame for EU policy.

 And France will get its comeuppance soon enough, so again we're back to the problem of con-men and marks.<

What about the Netherlands or Finland? or Luxemburg? All german puppets? Once again, you are denying the agency of all other EU countries.

 <Irrelevant when the German response was to do everything in its power to make the crisis worse.>

 Irrelevant to the Eurozone. The Eurozone would have been fully capable of burying the crisis in newly printed money if the Bundesbank assholes and Frau Merkel and her merry band of Swabian Housewife Economists had not pitched a hissy fit every time an actual workable solution was proposed.

And here you are denying the agency of all other members of the governing council. Was Trichet a stealth keynesian or what? And neither the fed nor the BoE was able or perhaps willing to bury their great recession. Do want to blame Merkel or the "Bundesbank" for that result, too?

 >Germany has been consistently conducting right-wing policy at least since Weigel. So, yeah.

 No, it goes back to when Schmidt duped d'Estaing into accepting that the Bundesbank's Lysenkoist economic theology was used as a foundation for that common currency.<

And I thought I was joking. You really think everything is a german conspiracy. Have you worked in templars and jesuits yet?

by IM on Sat Feb 18th, 2012 at 10:52:05 AM EST
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