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November 22, 2010
 by Steven Hill

MERKEL, GERMANY, OVERTHROW OBAMA, U.S., AT G-20...I wrote an oped that was published recently in the International Herald Tribune/New York Times. The media missed what really went down at the Group of 20 meeting in Seoul, South Korea. That meeting has emerged as a game changing moment. Not only did President Barack Obama suffer a loss of face, but America’s economic leadership took a major hit. Following America’s catalytic role in bringing the global economy to the brink of disaster, and waging two wars in the Middle East that have revealed military mediocrity more than strength, followed by the Obama administration’s weakened political position after the November 2 election, the U.S. now is losing the global argument over the best development model for the 21st century. The "Washington consensus" appears to be dead, or certainly on life support.

Read more about it my oped, linked below:

Germany Speaks Out
International Herald Tribune/New York Times

Steven Hill 4:43 AM Permalink | Trackbacks | Comments (3)

As I wrote before, great Op-Ed at the NYT! One of the few voices in US media that showed the collateral damage of QE2. As even Krugman admits now, QE failed, but the damage is to stay. Maybe those who stomped for this nonsense, as a "hope dies last" substitute for REAL programs to jumpstart the economy, should have listened to the warning voices! Damn.

Two OT points: Do you tweet? There's a srhilldc occasionally writing about European issues at Twitter, but he looks like a younger version of you, without the beard!

And a support issue: Could you pls contact WaMo's web support and tell them that the email adress of commenters to your thread (and, afaik, your thread only) shows up, instead of being hidden! And we all already get enough spam, don't we? Would be great if this would be corrected.

Posted by: Gray on November 24, 2010 at 5:53 AM | PERMALINK

This just in:
"How Germany got it right on the economy" by Wapo's Harold Myerson.

Hmm, he repeats some points you already made here. Does he read your series, maybe? Not that I'm complaining. Quite to the contrary, it's refreshing to read more positive reports about Germany in US media!

Posted by: Gray on November 24, 2010 at 12:06 PM | PERMALINK

If only your country would learn the lesson and return to actually making things one can buy - instead of just sending money to China.

Here's fear that during the next bubble-driven boom all lessons learned about sustainability will be gone again.

I have a couple of beefs with my home country, but at least we still held our workers and industry in regard when all the world told us how stupid that was.

Posted by: Vokoban on November 26, 2010 at 7:52 AM | PERMALINK

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