NSA spies on Merkel, US Treasury criticizes German economy, Germany may grant asylum to Edward Snowden and seek testimony, Obama et al ruin US economy and continue to blame others
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing federal debt to soar. Federal debt held by the public is now about 73 percent of the economy’s annual output, or gross domestic product (GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, and it is twice the percentage at the end of 2007. “…CBO September 17, 2013
“So if Obama was hoping that all the late summer scandals that have taken his reputation to an all time low would at least push the NSA spying scandal away from the front page, he may need some additional fabricated and YouTube-validated false flag wars very soon.”…Zero Hedge October 31, 2013
Obama et al have ruined the US economy, are in the process of ruining our health care system with Obamacare and they continue to blame everyone else.
From Zero Hedge October 31, 2013.
“US Blasts Germany’s Economic Model; Germany Blasts Right Back… And May Use Snowden As Leverage”
“The chart below showing the portion of GDP generated through net exports by select group of trade surplus countries is well-known to most. Except, it seems, to the Treasury. Apparently to Jack Lew’s henchmen it comes as a complete shock that
Germany’s exports account for 41.4% of GDP – 50% more than traditionally
evil “mercantilist” China.
It is also a complete shock to the US Treasury that the current layout of the Eurozone – the same Eurozone that the Fed has stepped in on numerous occasions to bailout, common currency and all – was simply to facilitate German exports to fellow European countries.
Which is probably why, after years of saying nothing, in its semi-annual currency report released yesterday and “employing unusually sharp language, the U.S. openly criticized Germany’s economic policies and blamed the euro-zone powerhouse for dragging down its neighbors and the rest of the global economy.”
You see it was all Germany’s fault.”
Why the US would scramble to antagonize a Germany which as recently as a week ago was shocked to find out the NSA was spying on its beloved Angela Merkel is a mystery but apparently now that the fiction that Europe is “fine” and nobody can criticize it has ended and is no longer necessary because Spain is, in its own words, recovering, it is fair game to throw Germany and all other nations that dare to export better and more competitive goods and services than the US. under the bus. Because, you see, unless every “ally” of the US has the same “growth” model of internal consumption funded by titanic amounts of debt, be it household, corporate of sovereign, and is in the same insolvent boat at the end of the day as the US, they deserve to be spat upon.
“”The U.S. government should critically analyze its own economic situation,” said Michael Meister, a senior lawmaker and close ally of Chancellor Angela Merkel, criticizing the high debt level in the U.S., which “doesn’t just unsettle [the U.S.], but has negative effects on the global economy.”
“The German economy is competitive, with record-high employment—so it’s really not understandable why we’re being blamed for this success,” Mr. Meister added.”