Defying Others, Germany Finds Economic Success

[dtotire]

Defying Others, Germany Finds Economic Success
By NICHOLAS KULISH
Published: August 13, 2010



BERLIN — Germany has sparred with its European partners over how to respond to the financial crisis, argued with the United States over the benefits of stimulus versus austerity, and defiantly pursued its own vision of how to keep its economy strong.

Statistics released Friday will buttress the German view that they had the formula right all along. The government on Friday announced economic growth of 2.2 percent compared with the previous quarter, the German economy’s best performance since reunification 20 years ago and an annual rate of close to 9 percent.

The strong growth figures will surely strengthen the conviction here that German workers and companies in recent years made the short-term sacrifices necessary for long-term success that its European partners did not. And it will reinforce the widespread conviction among policy makers that they handled the financial crisis and the painful recession that followed it far better than the United States, which, they never hesitate to remind, brought the world into this crisis.


more:
http://www.nytimes.com/2010/08/14/world/europe/14germany.html?hp

[OHdem10]

1. Keep in mind, Germany maintained a serious Industrial Policy,

managed their trade policy so they maintained a mfg
base. Oh those Protectionist Social Democracies.

[Joe Chi Minh]

2. But then, as I recall, rich German businessmen were ASKING to pay MORE tax!

They out the rest of the world to shame.

[On the Road]

3. They Bandied That 2.2% Growth Around

like it was an annual number. Apparently they do things differently over there and it's quarter-to-quarter.

So the result is 1.022^4, or 9.1% annual growth. Amazing. This is the first really good news since the recession stalled. And regardless of all the differences between the US and EU, it is a very good omen for the US.

[jwirr]

4. They still make things. I believe the PM said that about a year ago.

Hear that gop outsourcers? They still make things and they are doing fine.

[Vincardog]

5. BY LAW every BOD has to be 1/2 made up of LABOR representatives. TAKE THAT MBA types.

[SocialistLez]

6. Once again....we have a lot to learn from European countries. NT

[girl gone mad]

7. Globalization hypsters were wrong.

Hear that, Thomas Friedman?

The world isn't flat.

[Joanne98]

8. Deception. France and Germany have been forcing Greece to buy weapons it doesn't need.

It's all a big cluster fuck!