What’s a 6 percent contraction in the economy, anyway? We’ve seen worse.
Well no, actually we haven’t. But we’re not worried. Not us. Not yet anyway. We’re calm, perhaps too calm, but calm all the same.
“One reason that we are only seeing small protests is that politicians will not reveal the true cost of the crisis until after the parliamentary elections… Perhaps there will be a new wave of cost-cutting welfare reforms, like those which spawned the unpopular Hartz IV scheme.”
“Three months ago, the German government was forecasting that G.D.P. would contract by 2.25 percent in 2009. But since then, Berlin has suffered from plummeting demand for its products as its foreign customers rein in spending.”
PS: Why do I get the feeling that everybody in Berlin is about to RUN INTO A WALL again?