Green Room

“All of us have to stop spending more than we earn every year”

posted at 6:15 pm on December 17, 2012 by

Behold, the voice of what many Europeans consider to be the voice of excessively harsh austerity in trying to solve the Eurozone’s crisis:

Europe will have to “work very hard” to maintain the most generous welfare system in the world and remain globally competitive, said Angela Merkel, the German chancellor, in an interview with the Financial Times.

The key to Europe’s ability to survive the challenge of globalisation is to spend more on research and education and overhaul its tax and labour markets to restore competitiveness, she said. …

“If Europe today accounts for just over 7 per cent of the world’s population, produces around 25 per cent of global GDP and has to finance 50 per cent of global social spending, then it’s obvious that it will have to work very hard to maintain its prosperity and way of life,” Ms Merkel said in the interview.

“All of us have to stop spending more than we earn every year.”

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“All of us have to stop spending more than we earn every year.”

Madness!

And racist too.

forest on December 17, 2012 at 6:21 PM

“All of us have to stop spending more than we earn every year.”

“How DARE she tell me how to spend my money! Who does she think she is? Now Excuse me while I transfer a Cash advance from my credit card to my checking account so we can eat at Pizza Hut for dinner.”

-Libs

portlandon on December 17, 2012 at 6:32 PM

what an idea, why didn’t I think of that
-obama

cmsinaz on December 17, 2012 at 6:51 PM

You just can make stuff up that is this funny.

STL_Vet on December 17, 2012 at 7:01 PM

You just can make stuff up that is this funny.

STL_Vet on December 17, 2012 at 7:01 PM

You just can’t make stuff up that is this funny.

Self parody

STL_Vet on December 17, 2012 at 7:03 PM

Racist. And sexist. And probably xenophobic as well.

Washington Nearsider on December 17, 2012 at 7:07 PM

Well Paul Krugman is an economist WITH A BEARD and he says spend all you want for as long as you want…so there.

bluesdoc70 on December 17, 2012 at 7:16 PM

I get it, but it’s not exactly a good apples to apples comparison to compare Europe to the rest of the world, since they pay very little for their defense (because we do), their infrastructure is fairly modern (financed by us post ww2), and they don’t have the same numbers in terms of an underclass that exists here or in other areas (is that racist?)…

blue13326 on December 17, 2012 at 7:33 PM

The key … is to spend more on

Dumbkopf! Doesn’t she know the correct term is INVEST?

Marcola on December 17, 2012 at 7:38 PM

Economics for Dummies.

Dummies = U.S. Congress

fogw on December 17, 2012 at 7:47 PM

This time, we let the Germans take over.

Little Boomer on December 17, 2012 at 8:04 PM

I guess nobody will be buying homes.

lexhamfox on December 17, 2012 at 8:10 PM

forest on December 17, 2012 at 6:21 PM

To be fair, the entire retail and service sectors operate on the same assumptions: Americans spending more than they earn every year, on bullsh*t.

ernesto on December 17, 2012 at 8:58 PM

and they don’t have the same numbers in terms of an underclass that exists here or in other areas (is that racist?)…

blue13326 on December 17, 2012 at 7:33 PM

It’s not racist, so long as you accept how they got there (you know, enslavement and segregation)

ernesto on December 17, 2012 at 9:00 PM

It’s not racist, so long as you accept how they got there (you know, enslavement and segregation)

ernesto on December 17, 2012 at 9:00 PM

And the saddest part is that they willingly voted themselves onto the Democrat welfare plantation.

To think we freed them from forced labor in Racistland for this.

MelonCollie on December 17, 2012 at 11:09 PM

What’s the problem? We still have checks.

single stack on December 18, 2012 at 1:01 AM

I know I’m preaching to the choir here but why is America content with these gigolo politicians who spend every dime we have, remortgage our home, run up all the credit cards to the limit and then leave?

Mojave Mark on December 18, 2012 at 4:42 AM

This time, we let the Germans take over.

Little Boomer on December 17, 2012 at 8:04 PM

This made me laugh.

I know I’m preaching to the choir here but why is America content with these gigolo politicians who spend every dime we have, remortgage our home, run up all the credit cards to the limit and then leave?

Mojave Mark on December 18, 2012 at 4:42 AM

No responsible economics taught anymore.
And so many of these people really never do pay anything back.
So you’re bulletproof when you get free stuff & ‘borrow’ ‘free’ money & never pay any of this back.
Notice when you feed wild animals how dependent they become to the point many of them will actually sit in front of you & DIE bcs they refuse to go hunt for themselves?
I watch this with some of my barn cats. Pathetic.

Badger40 on December 18, 2012 at 8:28 AM

It’s not racist, so long as you accept how they got there (you know, enslavement and segregation)

ernesto on December 17, 2012 at 9:00 PM

But enough about democrats.

tom daschle concerned on December 18, 2012 at 8:32 AM

It’s not racist, so long as you accept how they got there (you know, enslavement and segregation)

ernesto on December 17, 2012 at 9:00 PM

Actually, the black underclass was disappearing in an awful lot of places, before the 1960s. There was a great deal of self-sufficiency and pulling oneself up by one’s own bootstraps. For some reason all that diminished and seemed to disappear over the next generation.

Hmmmm. Wonder if anything changed in that time period that might account for this?
……

Nahhhhhh, it was obviously just racism. /

GWB on December 18, 2012 at 9:37 AM