6 ms·

Correct, its also worth noting that the US do have mechanisms in place to transfer funds from surplus areas to deficit areas.

davrosthedalek 9y ago
As does the EU.
- atmosx 9y ago
  > As does the EU. Are you trolling? What kind of mechanism does the EU have? How does Germany have such a high surplus if such a mechanism is in place?!
  - davrosthedalek 9y ago
    It has TRADE surplus. You were talking about funds. There is a substantial amount of money flowing from Germany, France and others into less fortunate countries via EU governed programs.
    - atmosx 9y ago
      No I'm talking about TRADE surplus.
      - AnimalMuppet 9y ago
        But EastLondonCoder and davrosthedalek were not talking about trade surplus. You are yelling at them for saying something that is true, because they're not talking about what you think they're talking about.
    - nickbauman 9y ago
      Not the same kind of money, though. This is money that is part of the problem. The money goes in and the debt goes up twice as much. Not the same as the California example above.
  - Tomte 9y ago
    Trade surplus is neither evil nor a problem in itself.
    - crdoconnor 9y ago
      Trade surplus without a safety valve (the ability to devalue a currency) is very much a problem since it leads to unsustainable debt buildups. Germany should be running a trade deficit with the rest of Europe right now but it refuses to.
    - nickbauman 9y ago
      Unless your currency policy is fixed by those you buy from. That's the fundamental problem here.
- nickbauman 9y ago
  It has some sharing, but it's not enough. For example, California sends 180 billion in tax revenues to the fed while accepting approximately 30 billion in federal spending. In the EU this kind of thing occurs only in the single digit billions.
  - davrosthedalek 9y ago
    Indeed. The problem is that populist politicians in "paying" countries can use this as an argument for an EU exit. See Brexit. It's hard to sell to pay billions, especially if stuff like hours/week, retirement age etc. are often nicer in those countries that need the money.
    - crdoconnor 9y ago
      The problem is that the populists are able to make that argument at all. Most establishment politicians in Europe are trying to be as much like Weimar as possible in all the wrong ways (austerity, wage repression, pension slashing, privatizations, etc.).
- RobertoG 9y ago
  You are going to need to be more precise there.

davrosthedalek 9y ago

As does the EU.

atmosx 9y ago
> As does the EU. Are you trolling? What kind of mechanism does the EU have? How does Germany have such a high surplus if such a mechanism is in place?!
- davrosthedalek 9y ago
  It has TRADE surplus. You were talking about funds. There is a substantial amount of money flowing from Germany, France and others into less fortunate countries via EU governed programs.
  - atmosx 9y ago
    No I'm talking about TRADE surplus.
    - AnimalMuppet 9y ago
      But EastLondonCoder and davrosthedalek were not talking about trade surplus. You are yelling at them for saying something that is true, because they're not talking about what you think they're talking about.
  - nickbauman 9y ago
    Not the same kind of money, though. This is money that is part of the problem. The money goes in and the debt goes up twice as much. Not the same as the California example above.
- Tomte 9y ago
  Trade surplus is neither evil nor a problem in itself.
  - crdoconnor 9y ago
    Trade surplus without a safety valve (the ability to devalue a currency) is very much a problem since it leads to unsustainable debt buildups. Germany should be running a trade deficit with the rest of Europe right now but it refuses to.
  - nickbauman 9y ago
    Unless your currency policy is fixed by those you buy from. That's the fundamental problem here.
nickbauman 9y ago
It has some sharing, but it's not enough. For example, California sends 180 billion in tax revenues to the fed while accepting approximately 30 billion in federal spending. In the EU this kind of thing occurs only in the single digit billions.
- davrosthedalek 9y ago
  Indeed. The problem is that populist politicians in "paying" countries can use this as an argument for an EU exit. See Brexit. It's hard to sell to pay billions, especially if stuff like hours/week, retirement age etc. are often nicer in those countries that need the money.
  - crdoconnor 9y ago
    The problem is that the populists are able to make that argument at all. Most establishment politicians in Europe are trying to be as much like Weimar as possible in all the wrong ways (austerity, wage repression, pension slashing, privatizations, etc.).
RobertoG 9y ago
You are going to need to be more precise there.