Friday, March 06, 2009


The latest unemployment figures are out and they are ugly: 8.1 percent. I'd like to point out, however, that in November 2006 that Germany's unemployment rate was 7 percent -- and that was an improvement. France, meanwhile, had unemployment of of 9.5 percent in December 2005.

Why are these statistics relevant? Well, let's consider that 2005-06 were pretty good years for most countries, and yet the unemployment statistics for Germany and France during this boom are comparable with U.S. unemployment rates during a bust.

Despite such facts it is the German/French model that the Obama Administration seeks to impose on the country.

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