If We Have To Follow Europe....
Could we follow Germany? They are the only ones getting it right when it comes to the economy.
Germany resists US call for stimulus spending hike
German Finance Minister Peer Steinbrueck resisted on Monday a US call on governments worldwide to pump more taxpayer money into their faltering economies.
"We're not planning on any additional measures," Steinbrueck told journalists as he arrived for a meeting with his eurozone counterparts. "We should concentrate on measures that have already been decided."
Germany has planned this year a package worth 50 billion euros (63 billion dollars) to revive Europe's biggest economy on top of 31 billion euros that it already began releasing last year.
Lawrence Summers, a top economics advisor to US President Barack Obama, urged governments worldwide to plough more public money into their economies to revive wilting global demand.
The United States is banking on a 787-billion-dollar (623-billion-euro) stimulus plan to drag the world's biggest economy out of its deepest recession in decades.
Meanwhile, the 27-nation European Union have committed to economic stimulus measures in 2009 and 2010 worth only 400 billion euros, equivalent to 3.3 percent of the bloc's gross domestic product.
It gives me hope that someone on the planet has studied economics and understands what is going on, too bad we don't have anyone like this in charge of America right now.
Germany resists US call for stimulus spending hike
German Finance Minister Peer Steinbrueck resisted on Monday a US call on governments worldwide to pump more taxpayer money into their faltering economies.
"We're not planning on any additional measures," Steinbrueck told journalists as he arrived for a meeting with his eurozone counterparts. "We should concentrate on measures that have already been decided."
Germany has planned this year a package worth 50 billion euros (63 billion dollars) to revive Europe's biggest economy on top of 31 billion euros that it already began releasing last year.
Lawrence Summers, a top economics advisor to US President Barack Obama, urged governments worldwide to plough more public money into their economies to revive wilting global demand.
The United States is banking on a 787-billion-dollar (623-billion-euro) stimulus plan to drag the world's biggest economy out of its deepest recession in decades.
Meanwhile, the 27-nation European Union have committed to economic stimulus measures in 2009 and 2010 worth only 400 billion euros, equivalent to 3.3 percent of the bloc's gross domestic product.
It gives me hope that someone on the planet has studied economics and understands what is going on, too bad we don't have anyone like this in charge of America right now.
posted by ablur at 3/11/2009 02:49:00 AM
2 Comments:
Maybe we could trade our president for the Czech President!
Sam, I'm for THAT..he's fantastic! (of course, I'd settle for Bozo the Clown to take over and think he'd do better, but...!)
And "Some Things...", thanks for coming to my site, HOW KIND your words are; I agree, I've considered writing down the curriculum and ideas I somehow got for presenting them (light switch, etc.)!
My husband is FROM Germany and he wrote a piece on an idea Germany's come up with for the car companies...
http://gollygeeez.blogspot.com/2009/03/heres-not-stimulating-idea-from-germany.html
see what you think!? I think it applies to your last paragraph in your excellent blog post.
Nice to meet you! Z
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