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View Diary: How much longer can the Austerians and their puppets go on with their failed policies and lies? (125 comments)

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  •  the absurd part is ... (1+ / 0-)
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    Sparhawk

    ... the claim that a current accounts deficit is unavoidable, or forced by the fact that the US$ is the world's reserve currency.  It's neither .

    Now an argument could be made that both kinds of current accounts imbalance are unsustainable in the long run.  But that doesn't make the US's position any better, it only shines a light at the fact the China's or Germany's positions (high current accounts surplus) aren't that enviable either.

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    "Und wer nicht tanzen will am Schluss - weiß noch nicht dass er tanzen muss", Rammstein, "Amerika"

    by cris0000 on Tue Jan 29, 2013 at 03:03:49 PM PST

    [ Parent ]

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