Saturday, December 13, 2008

Why France and Germany Disagree

At Telos, an article examining the deeper sources of Chancellor Angela Merkel's attitudes toward the financial crisis. Keynes has not made a comeback in Germany, argues Philipe Ward, where the great financial disaster of the 20th century was not the Depression of the '30s but the hyperinflation of the '20s. The watchwords there äre not "stimulus" and "demand," he contends, but "ordo-liberalism," "social market economy," and "regulation."

On the other hand, we have the Süddeutsche Zeitung opining that the U.S. Republican vote against the auto bailout marks a return to "Hoover time." Go figure.

And now Le Monde is reporting that Merkel is planning a 30 billion euro stimulus package to be announced in January. Go figure again.


Anonymous said...

I wonder if any of your other readers have yet noticed that SDZ has a picture of J Edgar Hoover rather than Herbert Hoover to illustrate its article. Am trying hard to fathom what this might mean...


TexExile (damned computer won't let me post as myself again, but it's me)

Unknown said...

Wow! I hadn't noticed that myself. Perhaps they're thinking of the FBI's role in investigating the Bernie Madoff scandal, the latest tale in the long saga of financial skullduggery in the US.

Anonymous said...

My take is that Merkel is so wary of "Little Napoleon" as Sarko is dubbed in Germany that she wants to wait until he's no longer underfoot to announce her stimulus plan, lest he claims HE convinced her to do it.
Yesterday, saw a German ad with the French President in a tutu iceskating. (Comment "d'you think he'll try to sue them too?")

in other, non-economical news (kinda):
A teacher got a 5-day paycut for writing a letter to the President in which he protests the mandatory 2 hour help for some students, meaning the others no longer have 2 hours of class and must cram the compulsory curriculum in two hours fewer, while he "help" means positions for school counselors, special ed teachers, school psychologists, are being cut. As if a regular teacher could in two hours do what these people do...

What do you make of this report?

Anonymous said...

^^ nice blog!! ^@^

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