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Tom & Sheila Nacey's avatar

Like the character in Hemmingway's novel, I think bankruptcy will be gradual and then suddenly.

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Ray Noack's avatar

Another troubling item . Germany has no government. The “ coalition “ is fragile especially since they are trying to prevent 25% of the population from having a vote in what happens . What could go wrong ?

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Petra Kehr's avatar

Thank you John. Yes the signs on the wall grow bigger and the red intensifies. Still I expect there will be years ahead when they still can kick the can further down the road.

The actions now are aiming to exploit the rest of substance as quick and whole as possible and then disappear.....

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Bill G's avatar

Has your Substack turned into a Trump propaganda sheet?

You describe Europe's health care and pensions as generous! Compared to what? Maybe a better term would be minimalist to ensure a reasonable retirement and end game for its citizens. But where would that leave the USA?

Your real argument is "Ah yes but Germany can't blow a hole in the Earth's crust any time and anywhere it chooses. It's about choices isn't it?

And when did debt to GDP cease to be a good measure of economic health?

https://countryeconomy.com/countries/compare/germany/usa?sc=XE02

Germany's biggest problems started when the US green lit the destruction of their natural gas supply.

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Petra Kehr's avatar

Compared to what? the US of course. And yes, Countries like Italy, France and to some extent Germany have generous social welfare. One of the biggest problems is the fact that far too many individuals benefit from this welfare who never contributed to funds. Most dire a problem this is for GER. And yes, the North Stream attack has rocked the energy supply but the underlying real reason for the disastrous development since is this:

GER is still a vasal state with only nominal sovereignty. In reality the guidelines for important decisions and trend setting planning are coming from entities abroad. Both US and the EU Bureaucracy which was anyway established to control and tame GER. Just days ago papers and admissions surfaced that NATO is setting a vast array of standards what member states have to do and have to invest in.

The recent NATO-Summit with its "agreement" on 5 % military spending (of GDP) after decades with less than 2% highlight that there are forces at play that denigrade "Top-Politicians" to mere puppets and talking heads.

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Per Lessmann's avatar

In fact many Germans (like my family) have already fled the country. We immigrated to Poland and it is heartbreaking to see Germanys (unnecessary) demise. Since living in another country I realized how manipulative the German media pushes the government agenda. Germany is done. Thanks to crazy, 0 child, green haired radicals. May they rot in hell. Hope it is hot and painful down there.

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Allan Richard Wasem's avatar

Western Europe has been in the grip of "democracy" for at least the last 150 years. Rather than adopt the American model of governmental separation of powers and a Republic the European states adopted the French Revolutionary model of "unified" government and the philosophy of Rousseau's "General Will". The long-term results are proving to be predictably catastrophic. I expect the French to opt for chaos and the Germans to opt for totalitarianism (as they generally do). Neither will solve the inevitable collapse of socialist Ponzi "retirement" schemes.

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Petra Kehr's avatar

Even though I agree with your conclusion to a certain extent, your description of historical European forms of government is simply inaccurate.

"Democracy" was adopted mostly after WW II. The decades before saw anything from Dictatorship/Fascism/Monarchy to Communism. The separation of powers has been adopted with these democracies, but as already the ancient Greek inventors of dimokratias foresaw, democracy tends to turn into totalitarian territory after some time.

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Allan Richard Wasem's avatar

To understand my thesis I suggest that you read J.L. Talmon's book "The Origins of Totalitarian Democracy". Your thoughts about Greek "dimokratias" suggest that you are already on the right track. Western European polities have inexorably fallen, over time, under the political sway of those purporting to interpret and represent Rousseau's "General Will".

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Petra Kehr's avatar

Oh thanks for the flowers. I guess I´m a bit over that.

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Michael Lauderdale's avatar

John Rubino does terrific work!

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