Wednesday, December 2, 2015

THE GERMANS CAUSED THE EZ CRISIS: here's what you need to know

Vox EU - German wage moderation and the EZ crisis. Nothing new here, but if you're one of the newcomers to my blog, it's still educational reading for you.

Basically, the strongest economy in a monetary union common currency area is never supposed to run a massive current account surplus. It's supposed to run a current account deficit.

That is, if it doesn't want to sabotage everyone else's economy.

What I don't get is why German workers were stupid enough to give away all their money to the kleptocratic elite.

Oh wait. I do get it. Germans are obedient lemmings.

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