Saturday, August 27, 2016

Heroic Germany...

...when it comes to fiscal policy, they are actually acting somewhat responsible---driving Paul Krugman crazy.

Krugman writes:
 Germany wants to run [budget] surpluses and wants everyone else to run surpluses...Germany’s fiscal obsession has a sort of multiplier effect on Europe, and indirectly on the world, that is disproportionate even to Germany’s economic size. And this makes me wonder whether all the sea-change in elite opinion that we’ve seen will do much good, since the government that most needs to change its policies isn’t listening.

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