Posted on 07/19/2015 3:08:56 PM PDT by BlopAndStop
The situation in Athens seems to have calmed down, but former Federal Reserve Chairman Ben Bernanke thinks Europe has an even bigger issue to worry about: Germany.
In a blog post on Friday, Bernanke wrote that the failure of the eurozone as a whole is very much related to the "highly asymmetric outcomes" among member nations.
In other words, Bernanke is attributing Europe's woes to the fact that countries like Germany are benefiting at the expense of the monetary union's weaker members, like Greece, Spain, and Italy.
Bernanke points to unemployment rates as a clear sign of the disparity in Europe.
Unemployment in the eurozone as a whole is actually up from late 2009/early 2010, when it was at about 10%.
Today, eurozone unemployment stands above 11%, and even passes 13% when excluding Germany.
Meanwhile, Germany’s unemployment rate is less than half of that, at under 5%.
(Excerpt) Read more at businessinsider.com ...
The other countries are too lazy, that’s why the Germans are feasting on them.
Well..., who is the E.U. going to blame? It’s certainly not going to blame itself. It’s above reproach. LMAO
Germany is too damned successful, and that’s a crime these days unless your China.
I’ve met some people who would say the exact opposite is true.
Damn Germans work too hard, save too much and are very reluctant to increase their public debt. Can’t have that.
Germany is the only country that actually has a work ethic. I can’t believe that everyone can’t see this.
Socialism takes the good in humanity out of everyone. Germany has been the least influenced by this of the socialist-leaning EU countries.
If a country wants its citizens to party all the time, their productivity and GNP will suffer. It’s that simple.
The other countries are too lazy, that’s why the Germans are feasting on them. ........................................... Just think how short WW II would have been had only Spain and Greece joined the Axis. The Germans had their hands full with the Italians. As Dr Goebbels put it; “Why are the Italians in this war?” I am not saying the Germans would have been victorious,only that they would have lost sooner. I’m just wondering, in the next war in Europe, who’s turn is it to get the Italians? (or the Greeks and Spanish)
They may very well have won in Russia if it weren’t for them delaying Operation Barbarossa to bail out Mussolini in the Balkans.
Bernanke reminds me of a client I had over 20 years ago. She was bitching about a neighbor, a German lady, that she had a disagreement with, and one of her major complaints was the fact that the German neighbor house floor was so clean that you could eat your food off it. I still chuckle when I remember that conversation.
The only thing that stopped them last time was incompetent leadership. And that was compared to the world leaders of that time. Today...? The only difference I see is that they can do it now with essentially no military!
Greece has voted for its slavery.
Europe gave up its freedom and sovereignty to a diabolical cabal of godless socialists in Brussels. All with hardly a whimper.
Victori spolia
They may very well have won in Russia if it weren’t for them delaying Operation Barbarossa to bail out Mussolini in the Balkans..................and North Afrika. Put Rommel on the Eastern front instead of wasting time in the Libyan desert.
Wait a minute....doing all the work and having to support everyone else is a good thing?
Good one. I’d be chuckling too.
Germany’s the only country in Europe that makes anything that anyone wants to buy.That pretty much sums up the situation.
“They may very well have won in Russia if it weren’t for them delaying Operation Barbarossa to bail out Mussolini in the Balkans.”
It also might have helped them do better if they chose not to not delay by stripping naked, and executing all the women and normal people they could find. Homos on the roll.
Largely true. If I were a German worker, I'd be really pissed at Angela Merkel for using my hard earned tax dollars to bail out a bunch of lazy Greek workers who retire on average 10 years earlier than a German worker does.
I'd be surprised if Merkel survives the next election. The Germans are really pissed at her. (Family in Germany ... know of what I'm speaking here.)
I for one, agree with those folks.
These countries thought they would get economic relief by joining the EU. So they went belly up. With no recourse but to request bailout after bailout.
I know this is simplistic, but I equate it to going to the local payday loan place and once they see I’m not changing my ways...they take my car.
In Southern Germany where I lived 45 years ago, it was the local law, you had to shovel clean the snow from the sidewalk in front of your property by dawn.
So I’d be walking to work on the post, in the dark, and people would be up cleaning their section of the public walk.
Likewise car washing in public was prohibited on Sundays.
Very ordered, very law abiding, even if the laws go further than many Americans would like.
So when somebody goes to work, the employer can expect and can get a worker, who is accustomed to following directions and rules.
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