This is a repeat of the Great Depression, in which most major western economies had fully recovered after 18 months, whilst the US economic depression dragged on for 15 years due to the manipulations of the Hoover and Roosevelt administrations.
Germany's recovery from the global recession has been among the fastest of major economies, surging at a 6.1% annualized rate in the first quarter of 2011 alone. Its budget deficit is a small fraction of those in the U.S., Britain and Japan. Whereas the U.S. faces chronic unemployment, Germany's jobless rate is at a 20-year low.
http://online.wsj.com/article/SB10001424052748703509104576329643153915516.html
HT: www.crossfit.com
Germany's recovery from the global recession has been among the fastest of major economies, surging at a 6.1% annualized rate in the first quarter of 2011 alone. Its budget deficit is a small fraction of those in the U.S., Britain and Japan. Whereas the U.S. faces chronic unemployment, Germany's jobless rate is at a 20-year low.
http://online.wsj.com/article/SB10001424052748703509104576329643153915516.html
HT: www.crossfit.com
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