The Phaserl


Blinded By Optimism, German Economy Now Below Stall Speed

by Wolf Richter, Testosterone

The financial crisis was brutal for Germany, but the recovery was steep, and in 2011, the gloating started. They called it the German “success recipe,” a system that was somehow superior to any other. It would keep the economy growing even as Eurozone mayhem was breaking out all around. That optimism has endured, and stocks have hit new highs in May, but the German economy has diverged sharply from that scenario.

A key element in that “success recipe”- much to the chagrin of Germany’s beleaguered neighbors – is the relentless drive to export. The whole political and economic machine is geared that way. Foreign policy decisions are made on that basis. As are domestic policy decisions. In return, the economy has become dependent on exports.

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1 comment to Blinded By Optimism, German Economy Now Below Stall Speed

  • Iguana One

    It’s over folks! It was all a Hoax. Sell your Gold and Silver! The dollar has never been stronger! It’s just gonna sink lower. Gold and silver are relics of the past. Food is cheap! Oil is cheap! Banks are our friends! Buy a House! Peace on earth! Go the beach and relax. Your welfare check is in the mail! Cable TV works! Beer in the fridge! Zimmerman’s gonna burn. Obama loves me. What me worry?

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