No Body Knows

No body knows least of all the average person in the street, but again it would seem neither do the so called economists. Now some are predicting a double dip recession that will throw the world into another financial crisis worst than the one we are just allegedly coming out of. We have all sorts of predictions and recommendations or suggestions how to avoid these things occuring. Now some are saying that the German  Government should reduce VAT  and impose higher taxes on savings to get the German people to stop   saving and encourage  the German people to start spending. The Germans are not a frugal nation but again they are not a nation that spends for the sake of spending like the citizens of certain other European Countriesa that have got Europe and other parts of the world into this financial situation. Germany has the lowest unemployment in the EU and the stronger wage growth. Germans are failing to carry their weight in the global economy because they don't consume enough, according to a report to be published this week by Fathom Financial Consulting. Germany has run a net trade surplus of 3.4 percent of GDP. If it were to switch that surplus into a defecit  of the same magnitude it would raise the level of non-German eurozone GDP by 2.4 per cent. If Germany is doing better that other EU countries because the Germans do not spend on items that they do not want, why should we critisise them, and want them to do so? So that they can pull the rest of Europe out of the self inflicted mire because of their greed. Because these nations citizens wanted to be like Viv Nichols to spend, spend, spend. That may be well and good if you have the money, but to continue to spend, spend, spend, when you dont have the money is rank stupidity, and to ask the German people to join that camp is even more criminal. This is like saying to them we are in a mess so please come and join us. I dont think so.