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Old 06-29-2014, 05:39 PM   #4
pricejj's Avatar

Join Date: Aug 2009
Posts: 22,276

MHG, Germany is complicit in this or the EU would have ceased to exist 3 years ago. You claim "the Germans are smart". Not entirely true. They have a higher debt to gdp ratio than the US, while leaning heavily on Socialist government programs.

Germany is comfortable. They are the only thing holding the EU together, and profit immensely from trade surpluses with other EU countries. There it's no reason for then to rock the boat along as long as they keep jobs in Germany. The entire EU is now following the US lead in devaluing currency to keep cost of labor low in order to compete with China.

Unfortunately, all that does is widen the gap between the rich and the poor. They will continue to devalue until the massive lower class realizes what is happening, and revolutions result. That could take 100 years. In the meantime, we will get more Socialist policies, which strangle growth and innovation, dragging down civilization with it.
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