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Germany Has The Economic Strengths America Once Boasted

Tuesday, January 24, 2012 - 5:08 AM
From the Los Angeles Times
Germany with its manufacturing base and export prowess is the U.S. of yesteryear, an economic power unlike any of its European neighbors. It has thrived on principles America seems to have lost.

They seem to be more saver friendly:
Their secret: little debt, frugal habits and a government that is intensely focused on high production, low inflation and extensive social services.

Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Tuesday, January 24, 2012 - 4:52 PM
Yeah, but they made a fatal mistake adopting a single European currency. Now their taxpayers are on the hook for all those irresponsible spendthrift countries who are running unsupportable deficits. In addition, their banks bought a lot of the debt of these insolvent countries and will most likely have to be bailed out by their taxpayers. They would probably love to pull out of the Euopean monetary system, but all h*ll would break loose if they did. They're ****ed if they do and ****ed if they don't.
loulou552 posts since
Aug 3, 2010
Rep Points: 3,431