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Posted by: thoughtforsale 9 months ago
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thoughtforsale9 months ago
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It is true that the Germans are traumatized by the experience of hyperinflation. Some old persons have seen all their wealth vanishing even twice in their lifetime. We are afraid of depts, be it in private or in public, and a very popular sentence, not only in these days is: "You can only spend, what you have got!"
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I suppose, Europe and the US have different opinions of how to react on the crisis. The Europeans think of a change of the economic system in the long run, the Americans want to act immediately and with immediate effects. It won´t be easy to bring these attitudes together without the risks of paralization on the one hand or hyperactivity on the other hand.
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