Some Problems With Germany’s Sermon for Obama

The lead story in today’s New York Times (1/12/10), written by Sewell Chan, Sheryl Gay Stolberg and David E. Sanger, focused on allies’ complaints about Barack Obama’s economic policies: There was no way to avoid discussion of the fundamental differences of economic strategy…. Major disputes broke out between Washington and China, Britain, Germany and Brazil. Each rejected core elements of Mr. Obama’s strategy of stimulating growth before focusing on deficit reduction. Several major nations continued to accuse the Federal Reserve of deliberately devaluing the dollar last week in an effort to put the costs of America’s competitive troubles on trading […]