Today I read a rather interesting article in the local Norwegian newspaper concerning the state of the economy and the mistakes countries like Britian, America, etc are making by injecting massive amounts of cash blind to the problems it will cause in the long run. The writer, a professor at Oxford, argued that Germany are in the best position to lead the world out of a recession because of their history in being in complete financial ruin yet being diligently able to re-stablize their economy and at the same time become one of the most powerful countries in Europe. It's already noticeable how they've taken charge in holding the hand of Eastern Europe to try and maintain Europe's wealth through trade etc., while the rest of world, imo, are heading into a direction of complete unknown not knowing exactly what they will spend their 10s of billions on. He also argued that the German mentality of extreme caution and discipline has prepared them for the recession considering how careful house buyers were compared to the rest of the West as a result of the history.
Some may argue that Germany only recovered from their last major recession because the West injected so much cash into their economy and that is a fair point. Despite this they have always been considered a strong, able and, more importantly, a sensible economy whom I'd rather take advice from than nations that have taken a incautious advantage of the boom era.
Some may argue that Germany only recovered from their last major recession because the West injected so much cash into their economy and that is a fair point. Despite this they have always been considered a strong, able and, more importantly, a sensible economy whom I'd rather take advice from than nations that have taken a incautious advantage of the boom era.
