The comrade tells Europe to keep spending, Germany says Up Yours
Many European leaders have begun to realize that spending vast sums of cash to “stimulate” sour economies is only stimulating mountains of unsustainable debt. Most of them are reworking their budgets (at tremendous political risk) to cut back on burdensome social spending in an effort to avoid total economic collapse. While Europe is finally coming to their senses, our own government is going full tilt in the other direction. This dichotomy should provide an interesting backdrop to the coming G20 conference in Toronto this weekend. It may also be a test of our dear comrade leader’s influence in world politics.
Our dear comrade leader, desperately trying to spend America’s future into the toilet, has sent a message to European leaders imploring them to follow his lead. According to this story, Germany has other ideas.
German Chancellor Angela Merkel directly contradicted US President Barack Obama on Saturday, saying spending cutbacks were now needed following the spate of throwing money at the global economic crisis.
Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that “we are going to discuss when to quit the phase of short-term measures and go on to lasting budget consolidation.”
Such a move was “urgently necessary, in the view of the Europeans and particularly of Germany,” she said.
But our dear comrade, despite copious evidence to the contrary, still believes that government “stimulus” is the only way to save us from economic disaster. And since we’re in a world economy, Europe needs to do their share so the “recovery” doesn’t lose steam.
“We worked exceptionally hard to restore growth; we cannot falter or lose strength now,” Obama said in a letter to G20 leaders ahead of a June 26-27 summit in Toronto.
“Our highest priority in Toronto must be to safeguard and strengthen the recovery,” Obama said in the letter dated June 16, but released Friday amid concerns about the pace of the global recovery.
The warning – a clear shot at European governments reining in budget deficits – comes after months of worry about the health of the eurozone, fuelled by huge public debts in Greece and Spain.
The Europeans, especially the Germans, must be thinking that this regime is full of space aliens. This G20 summit should be interesting, to say the least.