When it comes to Germany? Right. But I wish you a nice try though anyway, you G-20 finance minister folks meeting in London in three weeks.
“In asking the Germans to spend more and save less, for example, the United States is challenging not only the ingrained habits of a risk-averse people but the growth model upon which German industry is built and upon which millions of German jobs depend. The U.S. economy can’t generate enough demand by itself to pull the global economy out of the downturn, even with Mr. Obama’s stimulus — the recession has forced a dramatic and probably permanent increase in U.S. savings. Indeed, this is one reason that German exports are tanking. But Germany can’t just convert to a high-consumption model overnight. The same goes for Japan and much of Asia.”
That’s right, Germany. The big American spending party seems to finally be over at last (at least for now). Now it’s your turn. But don’t panic, it’s all about perception, remember (think Obama)? It can be the best of worlds if you want it, or it can be the worst of worlds. We all know which kind of world you have tended to lean to in the past, but these are exceptional times we are living in here, people. Make it happen (yes you can).
“Germany, Europe’s economic engine, ardently resists talk of a bailout for either old or new Europeans, fearing it will inevitably get stuck with the tab.”
Observing Hermann 
The Germans’ boring habit of living within their means is just so toxic for the economy. Far better to go on a borrowing and spending binge for a decade or two like the US and UK and pump up markets into one bubble after another.
This living beyond your means is mad. I agree, Ian. Or it can be – eventually. But my point is more that Germany, as an export nation, has been living quite nicely off others living beyond their means all these long years. Now they could do a little more themselves (for themselves), but they don’t want to. Hey, there’s no free lunch, as they say. Let’s see how long they can go without eating, I mean paying.
They don’t want to consume more and I hope they don’t feel bullied into it, either. This Abwrackprämie, though, is a good example of the please spend-spend-spend or we’re doomed mentality. We’ve got a car that’s good for another decade if we treat it right. I’ll be damned if we buy another one just because they’re dangling cash in front of our noses. And if the economy is still slack when they run out of cash to throw at car buyers, what then?