In the land of the blind,” the one-eyed country is king”

Every country wants to be top-of-the-heap. It would be funny if it weren´t tragic!

In the US:

When Jack Lew took over at Treasury a little less than two years ago, the rest of the world was still blaming the U.S. for triggering the worst global financial crisis in generations. Today, the U.S. is doing better than nearly any other advanced economy.

So the Treasury secretary feels comfortable in doing a little boasting (“We have created more jobs since the pre-crisis peak than Europe and Japan combined”) and in offering some be-more-like-us economic advice to Germany and Japan.

The “be-more-like-us” parody goes around. That´s exactly what Germany “advises” to her “minions”.

Jack Lew doesn´t grasp that the US is a little ahead because it´s monetary policy has been somewhat better, although that may be about to end.


2 thoughts on “In the land of the blind,” the one-eyed country is king”

  1. The interest rate on the 10-year UST is a lot higher than the interest rate on 10-year German bunds.

    Therefore, U.S. monetary policy is likely to be a lot better than Germany’s over the next 10 years…….

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