It’s the Economy, Dummkopf!

It’s the Economy, Dummkopf!

By Michael Wolraich on Wed, 08/17/2011 - 6:29pm |

With Greece and Ireland in economic shreds, while Portugal, Spain, and perhaps even Italy head south, only one nation can save Europe from financial Armageddon: a highly reluctant Germany. The ironies—like the fact that bankers from Düsseldorf were the ultimate patsies in Wall Street’s con game—pile up quickly as Michael Lewis investigates German attitudes toward money, excrement, and the country’s Nazi past, all of which help explain its peculiar new status.

URL:

http://www.vanityfair.com/business/features/2011/09/europe-201109

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Ah, that Michael Lewis. According to a book I read, "crapper" figurines are also popular in Barcelona - although our tour guide didn't want to talk about it.

by Donal on Wed, 08/17/2011 - 7:09pm

Hmm. I was open to Lewis's thesis that Germany's national character, myths or history might hold clues to its past and future role in Europe's financial crisis. The article started with promise, but by the end the "shit" metaphor got pretty lame. I'm not sure I'm any wiser about how German bankers' minds work.

by acanuck on Thu, 08/18/2011 - 3:29am

Okay I have just to begun to read this article. So I thought I would put my initial reaction out there, so I can see if there is some alteration afterwards.

American liberals don't want to acknowledge what is happening in too many places in Europe because they believe it justifies gutting the entitlement system.

I will check back later

by Elusive Trope on Thu, 08/18/2011 - 4:12am

Just to be clear, you're extrapolating what American liberals want from the tack Michael Lewis takes in his article? Like he's a stand-in for all liberals? Otherwise, I miss your point.

by acanuck on Thu, 08/18/2011 - 12:57pm

Germany has a better safety net than the U.S., and its economy has fared better. Canada has a better safety net, and it's fared better. Most Scandinavian countries, ditto.

Why would anyone draw the conclusion you seem to have about "the entitlement system?"

by acanuck on Thu, 08/18/2011 - 1:06pm

From the article

“We have 3,400 tons of gold,” he said. “We are the only country that has not sold its original allotment from the [late 1940s].

At todays prices they'd make a bundle.

by Resistance on Thu, 08/18/2011 - 3:00pm

Thank you; would have missed it without your link.

Gotta remember to check for his byline from time to time.

by artappraiser on Fri, 08/19/2011 - 4:37am

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