In this report, from London on Saturday, August 24th, 2019 I look at an article in the FT of London about the German government's fiscal policy of the last decade or so.
Unlike all the other major economics powerhouses Germany has been running a balanced budget or even a surplus for the last six years. With economies around the world slowing down there is a clamour from the PhD Economist class for the German government to throw caution to the wind and start borrowing and spending.
In the FT article, I came across a comment by Nobel award-winning economist Paul Krugman that made me laugh out loud and it is the reason for this video. Back in around 2006, a precious metals commentator by the name of Adrian Douglas started an annual award about which commentator would say the most moronic thing about gold and the precious metals market. He called the MOTY Awards or the Moron of the Year Award.
So if you would like to know why PhD and MIT trained economist is the MOTY Award winner in Economics for 2019 please listen to my report.
"Adrian Douglas's Top 10 Morons of 2010": https://www.goldismoney2.com/threads/adrian-douglass-top-10-morons-of-2010.12466/
"Germany: rethinking the national ideology of balanced budgets": https://www.ft.com/content/d89d9404-c586-11e9-a8e9-296ca66511c9
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