Monday, December 27, 2010

Bob Chapman wrote in the International Forecaster of the 22nd Dec 2010 :"...Germany is supplying a great deal of money to the EU’s bailout of Greece and Ireland and perhaps Portugal, Spain, Belgium or even Italy. The German people are against the bailout and they have told their leadership that they refuse to contribute any further. We have friends in Wiesbaden and the 42-year old father of the family, university educated, took 1-1/2 years to find a job making less than he had before. The position is in Cologne, about two hours away by car on the Autobahn, so he has to stay at a hotel during the week and gets to be with his family on weekends. We are sure the family doesn’t like the arrangement nor do they relish bailing out other members of the EU and euro zone. Germans never wanted to be in the EU and nor did they want to be in the euro zone, which entailed giving up their beloved D-mark. Germany tells us unemployment is 8%. In checking out their numbers we find this hard to believe, especially in Eastern Germany. As we see it, even though Germany is the economically and financially strongest nation in the EU and the euro zone, all is still not peaches and cream. In this coming year German resolve will be tested to the maximum, as they consider thinking outside the box politically and in many other ways. Europe and Germany are going through a realization that there is life beyond Marxism, fascism and liberalism and a time is soon coming when classical free-market finance and economics will take their rightful place not only among the Germans but all thinking people of the world. It is time for Europeans to break out of the mode and again achieve the remarkable things they have in the past...."

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