MERKEL (NO STIMULUS) PROVEN RIGHT, AGAIN!
Angering MSM and many economists Angela Merkel said no to stimulus or opted for a mini one. And, dire predictions aside, so far the numbers have proven her right. Jim Cramer, sums it perfectly
The stocks that were thrown away yesterday are now set to have a good day because of a piece of information out of Germany that no one thought a thing about 24 hours ago. Or 24 days ago or months ago, or whatever.
What piece of information?
Roaring auto output pushed German industrial production higher in May by the biggest margin since August 1993, official data showed Wednesday, signaling the country's deep recession might be near an end.
The economy ministry said overall output in Europe's biggest economy jumped by 3.7 percent in May from the previous month and added:"Industrial production may have passed the trough."
This is at a time, the US is celebrating the fact that its manufacturing sector shrank in June but at a slower pace than during the prior month
Yes, prejudice blinds. German unemployment declined in June from 8.2% to 8.1% after having dropped from 8.4% a month earlier. In contrast, American unemployment rose from 9.4% to 9.5% in June after having risen from 8.9% a month earlier. As I have previously noted, both countries had 7.2% unemployment rate in December 2008.
None of this means that Germany is out of the woods. It merely means that she is bound come out of them in a much better shape than had she wasted money in ineffective"make work" projects. I wish I could say the same about the US. And the"usual suspects" are talking about a second stimulus. Of course, only 10% of the first stimulus has been spent.
Also see, Economy, Obama's Katrina
comments powered by Disqus
- Rubio Surges Into Second In New Hampshire
- Branstad Says Cruz Ran ‘Unethical’ Campaign
- Christie Highlights Santorum’s Endorsement of Rubio
- Portman Comes Out Against Trade Deal
- Megyn Kelly Gets a Book Deal
- A Big List of the Bad Things Clinton Has Done
- An Unambiguous Sign Sanders Won Last Night’s Debate
- Still Friends at the End
- Quote of the Day
- Trump Still Leads as Clinton Slips
- Clinton Can’t Shake Image as Wall Street’s Friend
- Maddow Doesn’t See Sanders Winning
- Why Does the Media Still Shield Chelsea Clinton?
- Bush Jokes His Mother May Have Abused Him
- Rubio Closes the Gap in New Hampshire
- Humans Hard-Wired to Teach, Anthropologist Says
- Parents outraged after students shown ‘white guilt’ cartoon for Black History Month
- Maryland is once again considering retiring its state song
- One of the last remaining Nazis goes on trial in Germany
- Inside story finally told of the young US diplomat who cracked the case of the murder of 4 nuns in El Salvador in 1980
- A historian’s advice to students thinking of getting a PhD in a tough economic climate
- German historian Heinz Richter cleared of charges
- English professor uses literature to help cure historical amnesia
- WSJ features an article by a conservative calling for the abolition of Black History Month
- Mary Beard, herself a bestselling author, wonders why more women historians aren't