Posted on 09/23/2012 2:14:31 PM PDT by blam
Germans Are REALLY Worried About Inflation
Joe Weisenthal
September 23,2012
Some fantastic perspective in a new article in Frankfurter Allgemeine Zeitung about Draghi's bond plan, and it's potential to create inflation.
This image shows the percent of Germans who are worried about various calamities.
FAZ.net
Despite the fact that it's in German, you can tell what's going on.
63% of Germans are worried about inflation.
52% fear natural disaster.
46% fear illness.
39% feat terrorism.
34% fear their kids get addicted to drugs.
Bottom line: Germans are really worried about inflation.
(Excerpt) Read more at businessinsider.com ...
They have their reasons.
That’s not a surprise. I don’t know about the current generation but older Germans tend to be hardcore about keeping their finances under control. Japanese too.
They have been down that road. I fear it here.
Willkommen in Weimar Amerika!
The Euro will look like a champion at retaining value compared to US dollars considering what Bernacke has planned for QE3.
All profligate central bankers, wherever they may live, are citizens of Weimar, and, therefore, as a central banker, I take pride in the words "Ich bin ein Weimarer!"
Inflation will destroy their export surplus. It happened to us in the seventies, China's going through it now, and Germany will surely follow.
They understand what inflation wreaks. We still don't. A lot of FReepers still argue with me that the economy couldn't prosper without it.
I was talking to a 30 year old German friend a few days ago who wasn’t too concerned with the economy. But then, he thinks hussein is a great guy.
come one
germany can bail out
greece, spain, portugal, italy, the banks
and provide welfare for half of eastern europe and not have inflation//sarc
The Krauts are always worried about inflation, the Jews are always worried somebody will send them camping, the Blacks are always worried about slavery and segregation. It’s called “fighting the last battle”. And it’s why so many people get their asses handed to them in life. They are so worried about what happened last time that they miss what’s about to happen this time. This time, the Krauts don’t get inflation, they get to pay for Greece, Italy, Spain and Portugal’s early retirement programs. Last time— people thought they were mean. This time, people just think they’re stupid enough to pick up the tab for southern Europe’s good time goombah party bash. Which apparently they are.
Yep the German’s have long worried about inflation for good reason. Take their past worry and add in that they are no longer control their domestic money supply, ie the ECB does, and I am surprised the percentage was that low.
German politicians undoubtedly listen to the business leadership.
In 2011 German...
GDP: 2.57 trillion Euros
Exports: 1.288 trillion Euros
Much of the production of goods and services is for export; undoubtedly a lot of of the imports are used in producing exports, but I don’t have that data at hand.
Big business in both Germany and America have a similar limitation on their exports - the poorness of other nations relative to them. Instead of being content with the limits of their markets, they sought schemes to enable poorer nations to afford more of their exports. The schemes appear to be more unworkable every day.
Every time the European politicians announce that they have agreed on anything amongst themselves, they undoubtedly go home and ask their experts who tell them that the direction they are proposing would be devastating to their own economy in the long run.
The last thing German business and government leadership wants is the downward spiral of unemployment, lower total output, government spending increases requiring higher rates of taxation or central bank money printing to provide money in place of gainful employment. These tactics will all ultimately squeeze the German people.
Since the German people are real producers and they undoubtedly realize that, if the German economy really tanked, IMHO, there would be a quick political turnaround that would simply exit the Euro completely.
The Euro nations that have borrowed over the years to spend massively on social programs that their production could not pay for have simply worked themselves into a quagmire.
The “spenders”, of course, do not have a liquidity problem, they have a solvency problem.
The deeper they go into debt the more humiliating the exit will be.
To make things even worse, the world has no idea how much it has come to rely on America, yet most of the world supports efforts to destroy America from within.
The good news is the Gospel; it provides all the economic wisdom we need. It exhorts us to avoid covetousness, greed and laziness, as well as to plan ahead, ambitiously work in gainful employment and deal fairly and not lie. There’s a lot of other wisdom there for nations that seek it.
There are two traits I notice in most Germans. They are simple minded and they are know-it-alls. Talking to a German is like talking to a teenager.
There are two traits I notice in most Germans. They are simple minded and they are know-it-alls. Talking to a German is like talking to a teenager.
He was smarter when he was a teenager. Well, at least he was teachable.
I menat to also include in my old post that he doesn’t like W because he was a cowboy. Hmmm, cowboy, really? That’s straight out of the msm’s mouth which proves he’s not thinking for himself. So sad.
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