Germany rejects reckless spending as “solution” for U.S.-made crisis
With the U.S. economy rapidly imploding into deflation and bankruptcy, an article in Der Spiegel (“America Is from Mars, Europe Is from Venus”) makes it clear that Germany has no interest in reckless fiscal policies – which can only lead to punishing inflation down the road.
Unlike the U.S., Germany's economy is not about to go into a terminal “Depression”. Therefore, they have no desire to (literally) mortgage the futures of their own citizens – to help the inept Obama regime try to avoid Armageddon in the U.S.
What's really interesting is that when you put aside rhetoric, there is in fact little concrete difference between Germany and the U.S., with respect to fiscal stimulus. The U.S. (proportionately) is spending more this year (but still a paltry amount), while Germany actually plans to spend more heavily than the U.S. in 2010.
