In this topsy-turvy world it seems one’s proximity to full-blown communism is directly proportional to one’s success in capitalism. Take Red China’s explosive economic growth, or the unexpected success of semi-socialist Germany and France, which just bid auf Wiedersehen and adieu to the recession.

Those two countries took some heat, you may recall, for not spending as much on stimulus as the U.S. had hoped. Turns out they didn’t need to, and if consumer spending in those nations is any indication, safety nets are useful in an economic catastrophe. — PS

BBC:

The French and German economies both grew by 0.3% between April and June, bringing to an end year-long recessions in Europe’s largest economies.

[…] The data came as a surprise, with few analysts expecting Germany and France to start to recover so soon.

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