WHAT NO ONE WANTS TO TALK ABOUT: As Global Economy Shifts, Companies Rethink, Retool - WSJ.com
Let's see?
If the US wants to dampen down US consumption, it could do what Europe does - put up the price of everything with a VAT tax and cut wages.
Then, to ask the Europeans to consume more, it could ask them to cut social benefits and the taxes to support them so that the individual consumers would have both more money in their pockets and lower priced goods.
Does anyone expect either to be advocated (at least publicly) by Mr. Obama or Mr. Geithner?
Monday, November 8, 2010
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