Belmont Club

By Richard Fernandez

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Midnight Express

May 6, 2010 - 2:40 pm - by Richard Fernandez
Marie Claude
2010-05-09 11:14:23

“Germany (like China) views its high savings and export prowess as virtues, not vices. But John Maynard Keynes pointed out that surpluses lead to weak global aggregate demand – countries running surpluses exert a “negative externality” on their trading partners. Indeed, Keynes believed that it was surplus countries, far more than deficit countries, that posed a threat to global prosperity; he went so far as to recommend a tax on surplus countries”

http://www.prisonplanet.com/can-the-euro-be-saved.html

ohlala, that’s the solution, tax the german products ! how comes none of our clever finances ministers thought of that !