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Raw Nerve: Germany Seethes at US Economic Criticism
Der Spiegel ^ | October 31, 2013 06:26 PM | Christopher Alessi

Posted on 10/31/2013 1:37:30 PM PDT by Olog-hai

A day after a US Treasury Department report bluntly denounced Germany’s economic model, accusing it of hampering the eurozone recovery and hurting global growth, Germany called the conclusions “incomprehensible” and challenged the US to “analyze its own economic situation.”

The Treasury’s semiannual currency report criticized Germany’s over-reliance on exports, a high current-account surplus and weak domestic demand. These factors “have hampered re-balancing at a time when many other euro-area countries have been under severe pressure,” the report concluded, citing budget tightening in the euro periphery. “The net result has been a deflationary bias for the euro area, as well as for the world economy.” …

On a trans-Atlantic level, however, the Treasury report may only complicate relations between Germany and the US, which were strained earlier this month following allegations that the US spied on Chancellor Angela Merkel’s cell phone. …

(Excerpt) Read more at spiegel.de ...


TOPICS: Business/Economy; Foreign Affairs; Germany; News/Current Events
KEYWORDS: eussr; obama; socialmarketeconomy; tradesurplus; treasuryreport; ustreasury
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1 posted on 10/31/2013 1:37:30 PM PDT by Olog-hai
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To: Olog-hai
The current occupant of the White House sure has a knack...
2 posted on 10/31/2013 1:44:28 PM PDT by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: Olog-hai

Translation: it’s really hard for us to create the appearance of solvency by devaluating the dollar when you’re busy devaluating the euro.


3 posted on 10/31/2013 1:45:54 PM PDT by jdege
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To: Olog-hai

Dumkopf Americanisch !


4 posted on 10/31/2013 1:46:42 PM PDT by MountainYankee
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To: Olog-hai
...criticized Germany’s over-reliance on exports, a high current-account surplus and weak domestic demand

Am I missing something or are we seriously criticizing Germany for having too much money (as opposed to a gargantuan national debt) and a positive trade balance?
No, for real.

Either I misunderstood or we've lost our minds.

5 posted on 10/31/2013 1:47:31 PM PDT by stormhill (Guns Save Lives!)
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To: stormhill

And this is out of an administration that is trying to turn the USA’s economy from free-market into socialistic, to boot.

For the record, Germany’s economy is called the social market economy.


6 posted on 10/31/2013 1:49:42 PM PDT by Olog-hai
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To: Olog-hai

I remember when the Euroweenies were in love with 0bama in 2008. They got what they asked for.


7 posted on 10/31/2013 1:49:44 PM PDT by forgotten man
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To: Olog-hai
"The Treasury’s semiannual currency report criticized Germany’s over-reliance on exports,"

Well obviously Germany should export their jobs and factories like we do and have the unemployment we have and borrow support money from China and then they would be doing well like we are. Imbeciles.

8 posted on 10/31/2013 1:50:15 PM PDT by ex-snook (God is Love)
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To: Olog-hai

I can’t forgive them for bombing Pearl Harbor.


9 posted on 10/31/2013 1:51:21 PM PDT by tumblindice (America's founding fathers: All armed conservatives.)
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To: All

we are no longer a free, capitalist country, that’s why we’re at odds with those who are.
I don’t think Jacob lew, Bernanke and yellin have our best interests at heart, but we have been cowed into remaining silent.


10 posted on 10/31/2013 1:52:50 PM PDT by willywill
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To: ex-snook

This is like a nightmare I can’t wake up from.


11 posted on 10/31/2013 1:53:11 PM PDT by stormhill (Guns Save Lives!)
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To: forgotten man
I remember when the Euroweenies were in love with 0bama in 2008. They got what they asked for.

I think the Germans, by and large, were cheering wildly for Obama. You are right. They got what they asked for. We should ask them, how's that working out for you?

12 posted on 10/31/2013 1:58:11 PM PDT by Mark17 (Chicago Blackhawks: Stanley Cup champions 2010, 2013. Vietnam Veteran, 70-71)
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To: Olog-hai

Dear Germany,

Please invade.

This time, we’ll do nothing - as long as you promise to do evil, bad, and totally unthinkable things to the population of sleepy hollow - er - Foggy bottom.

Besides, Chancellor Merkel has roughly 150 IQ points on our Dork-O-Dent, and has demonstrated a much greater understanding of economics.


13 posted on 10/31/2013 1:58:32 PM PDT by Da Coyote
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To: willywill

Germany is a social market economy, while Red China is all about “state capitalism” per the Communist Manifesto. Neither are free markets themselves, and have high taxation at the middle-class level. They do have manufacturing and relatively low corporate taxation and certainly lower regulation than the USA, though.


14 posted on 10/31/2013 1:59:28 PM PDT by Olog-hai
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To: stormhill
It really is.

Half the reason I want to leave the country is to just get the hell away from it. Maybe it won't be any better elsewhere but I won't ave a solid command of the language and understanding of their political process.

15 posted on 10/31/2013 2:01:04 PM PDT by riri (Plannedopolis-look it up. It's how the elites plan for US to live.)
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To: tumblindice
I can’t forgive them for bombing Pearl Harbor.

Reminds me of an old joke.

A man walks into a bar and sees an Oriental; goes up to him and punches him in the face. "What was that for?" Asks the Asian.
Man answers, "that's for bombing Pearl Harbor."
That was the Japanese, idiot; I'm Chinese!"
"Chinese, Japanese, Vietnamese. All the same.."
The Chinese guy kicks him in the nads. "What you kick me for?" "That's for sinking the Titanic."
"You're crazy! The Titanic was sunk by an iceberg"
"Iceberg, Goldberg, Greenberg; you're all the same."

16 posted on 10/31/2013 2:02:04 PM PDT by stormhill (Guns Save Lives!)
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To: Olog-hai

Seething, huh? Sounds about right. Getting advice from a bankrupt nation on how to run your economy should make you at least seeth; maybe even throw a fit.


17 posted on 10/31/2013 2:04:54 PM PDT by PubliusMM (RKBA; a matter of fact, not opinion. 01-20-2016; I pray we make it that long.)
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To: Olog-hai
Well, expect us to criticize any economies that still hew -- at all -- to free-market capitalism.

For we are now the biggest proponents of State Command Communism that the world now has.

18 posted on 10/31/2013 2:06:27 PM PDT by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: Olog-hai

Where do I send a letter of apology for the stupidity of our _resident?

I am so sick and tired of living in a nation that has become the laughing stock of the world.


19 posted on 10/31/2013 2:08:41 PM PDT by Peter W. Kessler
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To: PubliusMM
Part of the Plan!
Ruin the US
Destroy our relations with our friends.
So, what don't you understand or comprehend?
It's only because we are correct and we truly believe that the US is a great country and others should follow our lead.
20 posted on 10/31/2013 2:09:01 PM PDT by tbird-james
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