Protectionists Kept at Bay, for Now - Up and Down Wall Street Daily - R. Forsyth - Barrons.com

Protectionists Kept at Bay, for Now - Up and Down Wall Street Daily - R. Forsyth - Barrons.com: "The US wants to blame the Chinese for lost jobs and the Greeks blame the Germans.

(After all, if the Germans didn't make such appealing cars, etc., the Greeks wouldn't want to buy them.)

So perhaps the similarity is even deeper. In which case the borrowing and high taxes on producers to give benefits to non or low producers will likely have the same result in the US as in Greece.

For starters, look at the somewhat similar increase in interest rates on government borrowing - the US not yet as high as Greece (4% vs. 7%), but clearly the implications of current Democratic policies in the US is only being looked at from the benefits bestowed position, ignoring the short and long-term costs from the fiscal policies employed."