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German politics, Merkel, and the CDU

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VineFynn
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Post: #51
RE: German politics, Merkel, and the CDU

Helsworth Wrote:

VineFynn Wrote:
She seems like she's running a tight ship domestically.

On the EU front, she's straitjacketed- anything she does to support the EU will damage her polls at home- mostly because helping the EU will involve reducing the government surplus and creating a trade deficit.

Actually it's the opposite. German exports are suffering and will suffer in the future, if the Troika will persist with imposing austerity on the Periphery. Every country net exporter of goods & services is a net importer of aggregate demand - and vice-versa. So in the long run, Germany is shooting itself in the foot. At present, it's just a race to the bottom. And the neoliberal gits are wondering why they're not able to shrink fiscal deficits - they're completely oblivious to the existence & behavior of the automatic fiscal stabilizers. It has been proposed to the Troika to make the EIB act as de jure EZ Treasury. Troika refused. Countries inside the eurozone cage continue to spend and tax in a foreign currency & under an arbitrary financial scheme which has nothing in common with democracy, transparency, or socio-economic progress.


That's sort of what I meant- I think I phrased it incorrectly. Germany's surplus is at Europe's expense, and ultimately, at Germany's expense, since such expense can't be levied indefinitely.


I'm leaving and probably never coming back, so thanks for the interesting discussions I guess, dunno why im writing this nobody even irl gives a toss about me anyway
30.09.2015 13:22
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Helsworth
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Post: #52
RE: German politics, Merkel, and the CDU

VineFynn Wrote:
That's sort of what I meant- I think I phrased it incorrectly. Germany's surplus is at Europe's expense, and ultimately, at Germany's expense, since such expense can't be levied indefinitely.

Exactly. In order to allow currency user countries (who don't spend & tax in their own sovereign free floating nonconvertible fiat currencies) to operate without socio-economic tensions, under current downward cycle of private debt deflation, is to allow the automatic fiscal stabilizers to enlarge their fiscal deficits accordingly. That means going past the arbitrary ball & chain Maastricht Treaty. Government's fiscal position is reactive to nongovernment sector spending behavior.


https://www.patreon.com/SerbanVCEnache
30.09.2015 13:53
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