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Friday, August 13. 2010"Superman is wearing black, red and gold this year"Posted by Joerg Wolf in German Politics, International Economics on Friday, August 13. 2010
Well, today's headline might only be at the top of the online edition and only for a few hours. The good economic news come as quiet a surprise on this side of the Atlantic as well. I got the impression that most folks here don't expect it too last. Thus, consumer spending is not likely to increase, and in consequence our neighbors and the US are likely to continue to complain about our "selfish" economic policy. Though the NYT points out: "German consumer spending, which tends to be tepid even in good times, contributed to the growth spurt, as the number of people working grew 0.2 percent from a year earlier to 40.3 million, the Federal Statistical Office said." Bloomberg writes about record German growth (HT: David)
Wow, what's going on? Why is Germany doing so well right now? For once the US media does not mention the many existing and long-term problems that still haunt Germany. I am impressed. Oh, and remember Nobel Economist Krugman's statements less than two months ago?
Yep, Germany is the new bad boy. So is Germany to blame for the slow US recovery? Or is it the fault of US consumers, who are not shopping with their second and third credit card any longer? Trackbacks
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Joerg Wolf
- #1 - 2010-08-13 20:04 - (Reply)
P.S.: Two former US government officials turned think tankers write today at the Atlantic Council's page: Comments ()
Pat Patterson
- #1.1 - 2010-08-13 23:53 - (Reply)
I must have missed the poll on Americans zeroing in on Germany's "...selfish" economic policy." Most Americans when the situation is explained are envious of Germany and wish our politicians were so understanding of export policy. Comments ()
Pamela
- #1.2 - 2010-08-14 14:06 - (Reply)
I am missing this. Comments ()
Joerg Wolf
- #1.2.1 - 2010-08-14 16:11 - (Reply)
Thanks! Comments ()
Joe Noory
- #1.3 - 2010-08-17 19:22 - (Reply)
Don't get wrapped around the axle, Axel. This isn't about German workers' souls, Keynsian government astroglide, or any other over-emotionalized inference. [i](Superman? What are we supposed to do, kiss your ring?)[/i] Comments ()
Joe Noory
- #1.4 - 2010-08-20 14:51 - (Reply)
If "Europe gets it right", then why is the growth forcast for the Eurozone 1,5% vs. 1,9% for the US? Comments ()
David
- #2 - 2010-08-14 01:29 - (Reply)
I just saw an interview with Peter Bofinger on the Web site of Die Zeit. He warns that the euphoria will be short-lived if Angela Merkel follows through with her austerity measures. Comments ()
Marie Claude
- #3 - 2010-08-14 02:25 - (Reply)
Part of the reason for this is the fiscal crisis that plagued the peripheral countries, notably Greece and Spain, during the quarter. Indirectly, the ensuing depreciation of the euro linked to the crisis also helped make Germany’s large manufacturing sector competitive internationally – a key factor behind its rapid growth. Comments ()
Joerg Wolf
- #3.1 - 2010-08-14 16:09 - (Reply)
Yes, according to the opinion polls, the Social Democrats and Greens would form the next government, if there were elections tomorrow, but there won't be new elections any time soon, I think. Well, you never know, when a government collapses. Comments ()
Zyme
- #3.2 - 2010-08-14 20:06 - (Reply)
Merkel is having quite some trouble ahead, as she lost many conservative voters in the recent years. They mostly didn't vote other parties, instead they refrained from taking part in the process anymore. Comments ()
Joe Noory
- #3.3 - 2010-08-23 18:34 - (Reply)
What's the moral of the story? That the [url=http://www.economist.com/comment/624250#comment-624250]logically incapacitated[/url] will rule the blogsphere. Comments ()
Marie Claude
- #3.3.1 - 2010-08-26 04:29 - (Reply)
"What's the moral of the story? That the logically incapacitated will rule the blogsphere." Comments ()
Pamela
- #4 - 2010-08-15 15:26 - (Reply)
Ok, this is too weird even for me. And that's saying something. Comments ()
Pat Patterson
- #4.1 - 2010-08-15 20:56 - (Reply)
Even odder is that further down in the article the same source says he has already give a ton of money to, get ready for this, an NGO. Comments ()
Marie Claude
- #5 - 2010-08-16 00:08 - (Reply)
German miracle, or mirage ? Comments ()
Joe Noory
- #5.1 - 2010-08-26 15:15 - (Reply)
No, it's not a mirage, it's not a sign from the Gods that each of Marie Claude's personal resentments and complaints is magically correct, and some sort of Delphic Oracle... Comments ()
Marie Claude
- #5.1.1 - 2010-08-26 15:37 - (Reply)
again put your glasses on, the title was from the article's author Comments ()
Zyme
- #6 - 2010-08-23 17:42 - (Reply)
Ahhh, this might be a herald of things to come - do you guys remember Obama being portrayed as messias himself in Germany? Comments ()
Joe Noory
- #6.1 - 2010-08-23 18:30 - (Reply)
Let me see if I understand the logic: through force of mind, brilliance, elan, and simply being European, they're stellar, and in a blinding lack of awareness of the German public's instincts about everyone else on earth, they should be admired for their economic success and wealth. Comments ()
Zyme
- #6.1.1 - 2010-08-23 22:51 - (Reply)
Naturally ;) Comments ()
Joe Noory
- #6.1.1.1 - 2010-08-23 23:27 - (Reply)
Well, the level on which Americans can understand the German fascination with his is rather simple. The BZ headline "Daddy Cool" on the day after his election. Comments ()
Kevin Sampson
- #6.2 - 2010-08-23 23:06 - (Reply)
Does this sound familiar? "Eventually, we will all hate Obama, too" Comments ()
Joe Noory
- #6.2.1 - 2010-08-23 23:21 - (Reply)
Take a look at the comments where you get the typical leftist fountain of thoughtless invective: Comments ()
David
- #7 - 2010-08-24 16:04 - (Reply)
Why am I not surprised that some Americans erupt in paroxysms of hate when the president defends the First Amendment? Comments ()
Joe Noory
- #7.1 - 2010-08-24 17:53 - (Reply)
Actually, based on the stock litany of enemies, even dragging out the band's old standard, Eugene McCarthy, the one acting to silence the diversity of ideas is the likes of you. Comments ()
Pamela
- #7.1.1 - 2010-08-24 20:30 - (Reply)
Did you ever notice that when it comes to things like disseminating child porn or burning the flag, the lefties start baying about free speech and the first amendment? Comments ()
Pamela
- #7.2 - 2010-08-24 20:35 - (Reply)
>>Now Murdoch's Fox News and GOP leaders like Newt Gingrich and Sarah Palin are driving this group into a frenzy of religious hate Comments ()
Pat Patterson
- #8 - 2010-08-25 04:43 - (Reply)
Well of course there's a difference because when some, who even comment here, accuse others of racism it's simply because they understand and care more about these issues. Comments ()
Joe Noory
- #8.1 - 2010-08-25 20:59 - (Reply)
Let's get back to what we've really learned in this off-topic sub-thread... that there are people roaming this earth who believe that the only possible topic that could possibly matter would be their shallow invective of any fellow citizen of theirs who doesn't agree with them. Comments ()
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