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Viking; I'd like to say a couple things. First, not really fair to compare the US to Germany IMHO. Germany benefited from the huge capital inflows from the other European countries as a safe haven. In addition to that, all of Europe benefitted from the US hitting the fiscal gas pedal to save the banking system. If you doubt that logic, why did the ECB require the Fed to set up foreign exchange swaps? As to your Dad's comment, he's right in this environment due to the ineptitude of the current administration. However there is a lot the government can do to help an economy in recession. I could list examples but I believe that's beyond the scope of your blog. Volcker and Greenspan got things right most of the time.

The Viking

cf - To quote the President, "This is above my pay-grade." Actually, instead of that cop out, I'll just admit that I'm no economist and the article sounded reasonable to me. So thank you for the perspective, your point is well taken :).

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