16 thoughts on “When The Town Drunk Tells You You’ve Had Enough”
Link goes to the academic debt bubble article.
Germany is hardly the town drunk, that would be France or Greece.
Fixed now, sorry.
These are the virtues commented upon as the foundation of US prosperity:
“A firm belief in the individual’s ability, ideas, courage, will and a reliance on one’s own resources brought the US to the top.”
While I agree with MPM, the bulk of the Der Spiegel article is about how we have taken leave of the American way. “It seems plausible that the American economy has lost its belief in American principles.” The point Straubhaar makes is that the homogeneous European states are fundamentally different from the Heterogeneous American culture, and if we accept their economic ideas, the fundamental difference between this nation and the states of Europe will disappear. Not mentioned is the fact that the European states are losing their homogeneity, which points to the cultural convergence of Europe and America, in more ways than mere economics. That is the truly frightening thing about the events of the last 20 months, IMHO.
Germany is the town drunk. France is the town pump. Greece is the town meth addict.
A magazine is confusing a people w/an admin.
“The Obama administration’s current policies rely on more government rather than personal responsibility and self-determination. They are administering to the patient more, not less, of exactly those things that led to the crisis.”
Gosh, who would ever have thought that modern Germany harbored such extreme racism?
I agree with the author that low interest rates are indeed a problem. Not just in the US, but in Europe and Japan as well. The excess liquidity is leading to consumer price inflation. The inflation is being aggravated by high fuel prices, and foolish agricultural policies. These are making money lose its worth nearly everywhere.
Even if the interest rates were raised I believe it would take more than that for the market to regulate itself properly again. There are too many issues with the supply of strategic products, plus trade imbalances, for such a measure to be enough.
ken anthony Says:
September 4th, 2010 at 12:49 pm
A magazine is confusing a people w/an admin.
A good point, except for the disturbing fact that Obama – the most unqualified and inexperienced major party candidate perhaps ever – was able to win the election. That suggests that a lot of Americans couldn’t see through the snake oil that Obama was pushing during the campaign and wanted to believe in his economic unicorn fart rainbows.
Great headline, Rand.
Germany is the town drunk. France is the town pump. Greece is the town meth addict.
Who’s the brewer/distiller/meth lab?
Mein Uncle works at the Bayerische Motor Werke, buy more luxury Sedans!
Who’s the brewer/distiller/meth lab?
I’ll nominate China, although I’m open to other suggestions.
The European Central Bank?
The Illuminati… it’s always the Illuminati. [eyes darting to and fro’]
Link goes to the academic debt bubble article.
Germany is hardly the town drunk, that would be France or Greece.
Fixed now, sorry.
These are the virtues commented upon as the foundation of US prosperity:
“A firm belief in the individual’s ability, ideas, courage, will and a reliance on one’s own resources brought the US to the top.”
While I agree with MPM, the bulk of the Der Spiegel article is about how we have taken leave of the American way. “It seems plausible that the American economy has lost its belief in American principles.” The point Straubhaar makes is that the homogeneous European states are fundamentally different from the Heterogeneous American culture, and if we accept their economic ideas, the fundamental difference between this nation and the states of Europe will disappear. Not mentioned is the fact that the European states are losing their homogeneity, which points to the cultural convergence of Europe and America, in more ways than mere economics. That is the truly frightening thing about the events of the last 20 months, IMHO.
Germany is the town drunk. France is the town pump. Greece is the town meth addict.
A magazine is confusing a people w/an admin.
“The Obama administration’s current policies rely on more government rather than personal responsibility and self-determination. They are administering to the patient more, not less, of exactly those things that led to the crisis.”
Gosh, who would ever have thought that modern Germany harbored such extreme racism?
I agree with the author that low interest rates are indeed a problem. Not just in the US, but in Europe and Japan as well. The excess liquidity is leading to consumer price inflation. The inflation is being aggravated by high fuel prices, and foolish agricultural policies. These are making money lose its worth nearly everywhere.
Even if the interest rates were raised I believe it would take more than that for the market to regulate itself properly again. There are too many issues with the supply of strategic products, plus trade imbalances, for such a measure to be enough.
ken anthony Says:
September 4th, 2010 at 12:49 pm
A magazine is confusing a people w/an admin.
A good point, except for the disturbing fact that Obama – the most unqualified and inexperienced major party candidate perhaps ever – was able to win the election. That suggests that a lot of Americans couldn’t see through the snake oil that Obama was pushing during the campaign and wanted to believe in his economic unicorn fart rainbows.
Great headline, Rand.
Germany is the town drunk. France is the town pump. Greece is the town meth addict.
Who’s the brewer/distiller/meth lab?
Mein Uncle works at the Bayerische Motor Werke, buy more luxury Sedans!
I’ll nominate China, although I’m open to other suggestions.
The European Central Bank?
The Illuminati… it’s always the Illuminati. [eyes darting to and fro’]