Korean Job Discussion Forums

[The Happy Warrior]

I don't usually post Stratfor articles here.

Germany profits most from the Euro

[mises]

Strafor is alright. I read George Friedman's book a while back. He reckons Aztlan will separate from the US this century. Let's see.

Anyways, it's hard to say if Germany benefits most. The Euro was, in part, designed to tame the Germans. They have been low performing for the past decade, compared to other states. Though, they did not participate in the global credit orgy and actually deleveraged during the past decade (slightly). I don't know what benefit the welfare queens of Italy, Greece, Italy, Italy and Italy bring Germany.

I do not buy the idea that a cheap currency is absolutely good for exports. It is good for current exports, but it makes future exports more expensive. This is why Brazil or Zimbabwe didn't become global industrial powerhouses. I read macro analysis that suggests (almost homogeneously) that a devalued Italian currency would save their economy. Rubbish, I say.

The Germans have economically dominated Europe for a long, long time. They were destroyed during WW2. Do not believe the BS about America rebuilding them either. The goal was to keep a generation on breadlines to punish them. Even the East had comparable standards of living to southern Italy. When has Greece every been able to complete with Germany (in the last thousand years)?

This is all so complicated. I am more and more looking at cultural factors. Macro economics is such a weak framework.

[Reggie]

If I was a German, I would be pissed about being in the EU.

[jhuntingtonus]

I don't know... The Germans had such a strong currency, and now they're diluted by those other countries. Intentions and geopolitical stuff aside, they've had the largest economy in Europe for a long time. That's reason enough...