Germany and France Snap Out Of Recession Despite Stimulus Packages That Obama Called Too Small

Germany and France enjoyed a shock return to economic growth in the second quarter of the year, data showed on Thursday, ending their recessions earlier than many policymakers and economists had expected.

German gross domestic product rose by 0.3% in the second quarter, bringing an end to the country's deepest recession since World War Two and boosting hopes of recovery in the broader euro zone.

French GDP also grew by 0.3% in the second quarter. The consensus in a Reuters poll of economists had predicted a 0.3% quarterly contraction in both countries.

An interesting note...their recessions were significantly deeper than that in the U.S. (Germany's GDP contracted by 7.1% on the year compared to 3.9% in the U.S.), but look at the size of their stimulus packages in comparison:

So smaller, targeted packages (France = Less than 1.5% of GDP, Germany = 4.3% of GDP) appear to have been more effective than just throwing money at the problem (U.S. = almost 7% of GDP). Huh...

Also, who would have thought that the U.S. would be the most Keynesian country in the world (well, besides China, but they were running a massive surplus and are, well, COMMUNIST), and by a lot over France. Oh, how things have changed.

Source: http://money.cnn.com/2009/08/13/news/international/europe_economy.reut/index.htm?postversion=2009081304

When Communists Are Telling You To Stop Taxing So Much...

This is in reference to America expanding its taxing of citizens and firms living abroad to be even stricter in Asia. It is important to note that the United States is the only developed country to still use this archaic, growth stifling form of accounting. Anywho, here's the quote:

"America is locking itself in behinds its own great tax wall," says Laurence Lipsher, a certified public accountant in China.

Source: The Economist, July 25th Issue

Dems Want To Pull Military Information Funding

The Defense Department wants nearly $1 billion next year for its greatly-expanded Information Operations programs. But lawmakers are putting on the brakes, saying the end product is often ineffective “propaganda” and a costly distraction from the military’s core mission.

The House Appropriations Committee fired the first shot Tuesday, ordering deep cuts from the 2010 budget and the termination of many IO activities now underway. Altogether the Pentagon’s $998 million request would be cut in half, and the remaining funds frozen until the Defense Department submits a fuller accounting of its plans and where the money has been going since 2005.

Iran has "propaganda" in Iraq, Afghanistan, Palestine, and Lebanon. Syria has "propaganda" in Iraq, Palestine, and Lebanon. Russia has "propaganda" in Eastern Europe. China has growing "propaganda" all over the world. Meanwhile, the Pentagon tries to counter it with a program to show people that we are not the charicatures they think we are, and the Democrats want us to fight a war one-handed.

And people wonder why Hobbes prefered the sole sovereign.

Read more: http://www.politico.com/news/stories/0709/25327.html#ixzz0M76hV9UR