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https://twitter.com/Brad_Setser/status/18799178846732864142/ This makes me panic. Germany ostensibly has no way out of this predicament, a result of years of belief that relying on the consumption of others was morally virtuous (see all the interaction with the Greeks).
https://twitter.com/BobEUnlimited/status/18670500553010505022/ This is replicated everywhere in the western world apart from the US as government has led hitting and kept unemployment rates where they are