tag:blogger.com,1999:blog-6616959642391988608.post1565369888050632815..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Some additional perspective on EuropeScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6616959642391988608.post-47179542606124101192012-05-18T17:36:34.651-07:002012-05-18T17:36:34.651-07:00Ben Jamin, you may want to examine this less than ...Ben Jamin, you may want to examine this less than stellar performance of Sweden economic growth...<br /><br />http://www.tradingeconomics.com/sweden/gdp-growth<br /><br />What you say about the rural area is true, especially on the state level..<br /><br />Hear in, Maoistsota, we have what is called Local Government Aid; wherein, the more affluent cities tax base is shipped to those local Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-4886593838141347012012-05-16T20:13:52.477-07:002012-05-16T20:13:52.477-07:00Scott, can you give us an update on 2yr swap sprea...Scott, can you give us an update on 2yr swap spreads?Phillip Knighthttps://www.blogger.com/profile/07293468807007976537noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-52126270518419932772012-05-16T11:37:16.929-07:002012-05-16T11:37:16.929-07:00I did my part for supporting the housing market bo...I did my part for supporting the housing market bottoming out. We purchased a FannieMae downsizing repo at $45,000 below current market :-) Now the owner of 3 homes, with the fond hope that will soon be 2.Gene Prescotthttps://www.blogger.com/profile/01749854994321888028noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-46520163271480756762012-05-16T09:32:21.835-07:002012-05-16T09:32:21.835-07:00In general, I prefer a small public sector than la...In general, I prefer a small public sector than larger.<br /><br />But we should be honest about this.<br /><br />According to this page, here are taxes as percentage of GDP in various countries:<br /><br />Sweden 47.8<br />Germany 40.6<br />Greece 35.1<br />USA 26.9<br />Venezuela 13.6<br />Gabon 9.9<br /><br />Sweden's economy is doing very well, Germany's is strong.<br /><br />Hard toBenjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-50803175501702226612012-05-16T09:26:24.521-07:002012-05-16T09:26:24.521-07:00This comment has been removed by the author.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33115812701858265352012-05-16T07:50:17.970-07:002012-05-16T07:50:17.970-07:00Interesting read...Our resident economist, has wel...Interesting read...Our resident economist, has well defined the issues of EuroLand...<br /><br />The problems are political in nature (cause and effect are economic ills), and there is no rising tide of Conservatives...<br /><br />What will happen, more of the same...<br />The solution to the debt bomb will be more debt...After all, as Mr Grannis stated, the Euro is strong and hence will be blueicehttps://www.blogger.com/profile/16785151797675216272noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73190773670935286102012-05-16T04:58:43.359-07:002012-05-16T04:58:43.359-07:00PPS: What most of Europe and the US need most is t...PPS: What most of Europe and the US need most is to enact 40% cuts in total government spending -- tax increases are simply not an option at this point -- the only other course would be to "print" money -- however, neither Greece nor California have authority to "print" money at this point -- my bet is on dramatic cuts in government spending accompanied by civil unrest McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-55034374801472271402012-05-16T04:44:13.123-07:002012-05-16T04:44:13.123-07:00Scott, your last paragraph about California is spo...Scott, your last paragraph about California is spot on -- Californians will imminently choose either dramatically higher taxes, or dramatically lower state spending levels -- all eyes should be on California at this point...<br /><br />PS: My guess is that Gov Brown's tax referendum will fail in the election, and that waves of messy cuts in government spending will follow -- the question thenMcKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-91539594039305723042012-05-15T23:20:08.768-07:002012-05-15T23:20:08.768-07:00The Euro at current levels is not weak at all rela...The Euro at current levels is not weak at all relative to other major currencies, at least in my estimation. Therefore I doubt that the level of the Euro has been a net benefit, via trade surpluses, for Germany. in any event, trade surpluses are not necessarily a good thing, Japan being the best example I know of.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-74306597638596768702012-05-15T22:16:48.126-07:002012-05-15T22:16:48.126-07:00What Germany has been doing right is getting the E...What Germany has been doing right is getting the Euro locked in at an exchange rate that also locked in a trade surplus. Look back at the data- Germany pre-euro had a trade deficit every year which rapidly reversed itself as soon as the Euro began.<br /><br />Germany is no beacon, every country in the world can't run a current account surplus!KDhttps://www.blogger.com/profile/12154167375689021192noreply@blogger.com