MORE HERE :
http://www.marketwatch.com/story/german-ifo-gauge-soars-ignores-irish-debt-woes-2010-11-24
German Ifo gauge soars, ignores Irish debt woes
Business sentiment indicates German recovery picking up steam
Renewed sovereign-debt problems in Ireland had little impact on business sentiment in Germany, with the Ifo Institute’s closely-watched business-climate index soaring to the highest levels since the nation was reunified.
The Munich-based Ifo Institute on Wednesday said its November business-climate index rose to 109.3 from a revised 107.7 in October.
The October index was revised from an initial reading of 107.6. Economists had forecast a 107.6 reading for November.
“The upswing in the German economy is gaining more and more strength,” said Ifo Institute President Hans-Werner Sinn.
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Of course they did, Germany kicks butt. After they flushed the libtards things turned around.
Of course I’m German by heritage so I’m biased.
Americans and Brits and other developed nations better start reversing the nitwit advice (and profiteering) that led to their current problems and look to Germany's example.
usually these stories head off down the Leftist track on how the Germans have very high rates of unionization and labor activists sitting on corporate boards.
Meanwhile in the USA anyone can get a free goose - just go out to your local airport.
Small high-precision machine shop firms dot the Black Forest, just like their cousins nearby in central Switzerland.
Harry Lime: “What did we ever get from the Swiss? The cuckoo clock!”
Well, yeah, Harry. That, and precision machining technology.
German companies are often slow to respond, usually inflexible once a decision has been made or design agreed but they are excellent engineers and craftsmen and usually make really good stuff that lasts. We buy Rexroth hydraulic components for extreme applications. The Rexroth people find it hard to step far out of their box but supply very competent equipment.
I have a German made John Deere that is nearly 40 years old that has taken all the maintenance abuse Dad could dish out and it still goes on ticking.
Quality is remembered long after price is forgotten isn’t it? Doing what you know and doing it well pays off.
In the U.S., we label the equivalent of the “mittelstand” (small businesses) the “rich,” since they make more than $250K/year, and therefore soak/destroy and overregulate them to death, since obviously if they make that much money they must be evil, greedy capitalists and therefore deserve what’s coming to them.
I don't have time to find out the Marxist reason they are writing this but I know everything they do is for their religion of Marxism/democrats.
All I know is China manufactures about 1000 times more products in tonnage than the U.S. and Germany combined. READ products sometimes to see what it says on labels :“MADE IN CHINA”
The “value” is just because of China's currency manipulations. Most things are made in China and pretty soon practically nothing will be made in the U.S. or Germany.
Trade schools... another reason Germany produces good stuff. Trade schools that produce craftsmen with an engineer’s eye to detail and who can look for and find problems before they become failures.
We, on the other hand, have a bunch of mostly self trained wrench slingers lacking in technical training and filled with a bunch of self-taught half truths.
For example, find me one hydraulic technician that actually knows the principles of operation of a hydrostatic transmission and can trouble shoot and repair one. Good luck in finding anyone who can do more than hunt, peck and replace parts in a random effort.
Texas State Technical Institute in Waco is a collection of ramshackle shacks on a former air base. It does not instill the image of being a paragon of industrial leadership or technical prowess. On the contrary. We should and must do better or we will continue our spiral downward... we may anyway.
The U.S. Taxpayer paid tens of billions of dollars to bail out Deutchebank’s sub-prime mortgage investments. Without that, the German Economy would have crashed.
A TON of AIG Bailout money went to them.
The US taxpayer must be proud.....
Harold Meyerson is a f’ing moron.
Wow...creating manufacturing jobs...not slashing wages....banks being responsible...6 weeks of vacation per year....Germany’s economy is growing.
I bet Germans see less of “Made in China” on products sold there
The Liberal Free Trade Globalists...who continue to push bank bailouts, Free Trade with Communist China, North American Union....and other failed economic programs...might just arse-plode. Germany is doing everything that the Liberal Free Trade Globalists recommend not doing...and its working for Germany
Prior comment was a bit short on details.
Germany became an exporter of non-durables and the creditor to the PIIGS and southern and peripheral Europe as a whole.
Germany will never be repaid for the loans taken out to pay for consumer and governmental purchases of German goods in the last decade, and for the portions the Germans do get repaid on it will be in devalued Euro currency.
Germany destroyed the EU free trade zone through these policies and while not their fault they outcompeted other EUropean manufacturers, they would have been just as bankrupt as GReece if it weren’t for mark to fantasy accounting practices for German banks.
In Germany, banks can hold “secret state reserves” that can not be audited, and can be marked at any amount required to maintain the banks solvency, and the German state, German Federal, and EU politicians and regulators are forbidden by law from even knowing the amount put aside in this fund, because the German government considers it a military top secret.
While the immediate man on the street situation in Germany is indeed better than most of Europe and the US, the country in total has much less capital savings and credit than it should because the central bankers and politicians nuked their common currency accounts.
The effects of this won’t be felt until the Euro collapses when Spain collapses in the next year or three.
“Over the past decade, banking largely became a self-fulfilling activity,” says Patrick Steinpass, chief economist for the national organization of savings banks. “But our banks are restricted to doing business in their regions; they have to concentrate on the real economy.”
My heavens, what a novel concept. Banks actually involved in lending into the real economy in their locality as opposed to securitizing and packaging home loans and other debt to unsuspecting investors.
But being an investment banker is so much more fun and sexy than local lending especially when you own the politicians.
GERMANY DOES NOT SHARE A BORDER WITH MEXICO.