Saw the headlines today: "Atlantic Divide: Europe and US Disagree on Continued Simulus Spending."
What's in it for Tea Baggers and anarchists? Tea Baggers want Obama to stop deficit/stimulus spending, and anarchists want to smash the system. Well, Europe is poised to stop stimulus spending and that very well could accelerate the crumbling of the system.
The UK Independent reports:
[German] Chancellor Angela Merkel flatly rejected warnings from President Barack Obama that Europe's attempts to save its way out of the debt crisis could put fragile global economic growth in danger.
Not to get into nerdy economics, but the track record from the US Great Depression and the Japanese malaise of the 1990s indicates that deficit spending to prop up a flagging economy has merit. However, the debate on both sides is a bit moot. Stimulus spending might work, but it would probably just prolong the inevitable.
My judgment is that the US has crossed the Rubicon; the US is now a great power in decline. It has been going that way for decades... Detroit, MI and surrounding area is a stark case-in-point, but books are filled with all sorts of statistics on the decline in manufacturing, jobs, income, etc..
Now, with Europe cutting the spigot of stimulus spending, and putting the screws to the needy in the face of the rich getting richer, the Tea Baggers can say "What's good enough for Europe is good enough for the US," and the anarchists can sit back and smile as the establishment system teeters.
The Independent of UK, "Merkel rejects Obama warnings that cuts will damage global recovery," June 23, 2010.