Thursday, March 12, 2009

"Ignorant Francophobia Bandwagon"

Matt Yglesias calls out the "ignorant Franophobia bandwagon" and nominates Judd Gregg, who happily opted out of a chance to serve in the Obama administration (what was Barack thinking?), for permanent membership.

Not Good News

This is not good news at all: the "exceptionally strong" decrease in German industrial output in January does not bode well for France, Germany's largest trading partner. While much of the decrease may be attributable to precipitously declining Chinese demand for German machine tools, the generally depressive effects on German consumption will have repercussions throughout Europe.

But it's an ill wind that blows no good: with the G20 looming and Obama pressing Europe for more stimulus, this news can only further galvanize the hitherto reluctant Germans to loosen their purse strings and, for Heaven's sake, do something before the sky falls. Perhaps they'll also whisper in the ears of their compatriots at the European Central Bank that the troops can be recalled from the Eastern Front (the war on inflation is over) and set to work in the West (the stimulus battle and the imminent threat of a landing by the forces of deflation), where all is definitely not quiet.