I don't exactly see why defending the German economic model is showing disdain for the USA. He just seems one of the people who doesn't think copying the American economic model 1:1 is the way to go. I also don't understand why you're getting so worked up over the Fugger bit. For one that's just a factand more importantly it says nothing about which economic model suits today's states' needs best. His other points are much more valid, for example the big income gap in the USA. It's a typical warning against getting too euphoric about the good parts of the US system and forgetting about the bad parts.
I don't think there is really a coherent American economic model. At one time it may have been based more or less on the concepts of Adam Smith (which means that the state should butt out, excepting for enforcing contract law and basic honesty) but for quite some time now, the American economy has been fairly constantly tinkered with by Congress, but not in any consistent or coherent way.
My opinion is that a free market is pretty much the best model (even though in a sense it is no model at all, since it denies the state the ability to shape and arrange), and the most likely to lessen poverty. However, I doubt that the US has a noticably freer market than many European countries.