Too bad for all of us that it's not the same here. After all, the Fed's "mandates" of Employment and Price Stability are really just euphemisms for MANUFACTURE INFLATION.... and they've already done waaayyyy too good of a job up to now.
Things are never as easy as finding one simple reason of "cause and effect". The rise of Nazism in Germany was a powerful confluence of 1. Versailles 2. post Great Depression poverty and unemployment 3. widely prevalent anti-semitism 4. a fragile Weimar democracy 5. German capital choosing the perceived 'lesser evil' between communism (nationalization of key industries) and national socialism ('free' markets) and financially backing it Applying all of this to today's world 1:1 will probably not yield great insights.
Nationalism was strong at the time and the rest of Europe pretty much humiliated Germany and then the hyperinflation destroyed the whole nation's wealth.
Right, so who gives a shit what the Germans think about anything? Its not like they are a country to try and emulate in any way. The Germans gave us Karl Marx, the first World War, the second World War, which morphed into the cold war. People can bitch about Iraq all they want but Germany was under Allied Military Juridistion for SEVEN years after the war ended and we kept 50,000 troops over there for over 50 years. People forget that America was founded by people trying to get away from that hellhole called Europe. Now everyone wants to act like Europe has its shit together. Spanish real estate is tanking worst then in any other country. You have Muslims burning cars in french streets (a favorite pastime), Italy has zero grow and they are getting their energy from the Russians who can not be trusted. Europe is also running bigger deficits then America is as a % of GDP plus Europe has zero peoplulation growth other then Muslims coming in from the Middle East. Europe is doomed. John
Outstanding post and absolutely true on all points. Europe's deficits as a % of GDP are almost never reported in the US media because they are so hellbent on flogging the US for the sake of their own political agenda.
One of the problems with Europeans mouthing off so much is that they are not saying anything meaningful and tend to drown out quieter nations, they leave little chance for say, Singapore or New Zealand to present their view.
you are right. We should have trusted Enron And all of this because of a stupid article on a German magazine. Man, Germany is really a sensitive topic, isn't it? I would suggest to move this thread to politics & religion. I would really appreciate it