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Politics : Politics for Pros- moderated

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To: aladin who wrote (98282)	2/2/2005 3:28:17 PM
From: Elsewhere	of 793895

<A lot of European economists take shots at the Bush administration on the issue of the deficit and trade balance> They count on the economic illiteracy of the public. Quoting some absolute debt number of a country can be shocking whereas relating it to the GDP adds a necessary perspective. In the case of the USA it's obvious that the current debt level is well manageable. <Today's BBC article on German unemployment can't help itself with its anti-Americanism and states: The US, meanwhile, a key destination for German products, is far from the powerhouse it was in the 1990s.> ... and Germany is even further from the powerhouse it was in the 1960s <g> <The result - we are importing more German goods today than then - so how are we causing Germany to fail?> It's no complete and permanent failure yet but many available opportunities have been missed, all by our own faults. <I know you probably agree with this analysis, but how does the left wing press in Europe explain this?> They don't have a logical framework to explain it and they don't know that they don't have one. Unfortunately there are still very many people who believe in the next law or the next subsidy which will finally bring the turnaround.

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