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See, that’s what the app is perfect for.

Sounds perfect Wahhhh, I don’t wanna
collapsedsquid
Instead, the attempted transformation of the euro area into Greater Germania has simply dumped the persistent surpluses of German-speaking Europe, the Netherlands, and Scandinavia onto the rest of the world. Between 2008 and 2016 the combined current account balance shifted by 0.8 percentage points of world GDP. This can be explained almost entirely by a collapse in consumption and investment in Greece, Ireland, Italy, and Spain. That was mostly a consequence of policy choices pushed by the European Central Bank, the Eurogroup, and the IMF, with strong guidance from Germany and the Netherlands.

https://ftalphaville.ft.com/2017/02/01/2183509/the-us-shouldnt-blame-mexico-for-losing-at-trade-it-should-blame-germany/

AKA: Michael Pettis has been saying this for 2 decades, Mark Blyth’s been on the train since… at least 2012, and now we’re finally catching up.  

Free Trade doesn’t work.  

(via poipoipoi-2016)

Heck, Keynes said it in the 1940s and gave the solution.

(via collapsedsquid)

If this is doing what I think it’s doing, a single country could get part of the way there by having its own currency and applying tariffs at a rate based on its trade balance.  I was kind of hoping the Orange Man might do something like that, but it looks like he won’t and will do per-country punitive tariffs instead.

Source: poipoipoi-2016 politics policy economics capitalism trump