Thread: The 1930's All Over Again

The 1930s All Over Again

From the September 2008

Germany’s economic policy is strengthening its place at the heart of Europe—and irritating the German people. This has happened before. By Andrew Miiller

The German people are not happy with their country’s financial system. Almost three quarters of them think it is unfair, according to a Bertelsmann Foundation survey.

The grounds for their complaint? The fact that even though Germany is the largest goods exporting nation in the world—even ahead of China—its people feel their wages are too low and unemployment is too high.

In 2007, Germany produced its greatest trade surplus ever: Its exports exceeded its imports by an astounding $288.5 billion. At the same time, the unemployment rate as of May stands at 7.9 percent. German export surpluses reputedly pay for deficits in Ireland, Italy, Spain and even France, while the German people scrimp and save to make ends meet. According to a study released in March by the Institute for Economic Research, just over a quarter of all Germans are now classified as poor. The federal employment agency says 1.2 million workers are paid so little that they qualify for welfare.

Shouldn’t the nation functioning as the economic engine of the European Union do better at providing jobs and good wages for its own people? Well, it is all a matter of priorities—and it is not the first time such conditions have existed in Germany.

How Hitler Came to Power

“When in 1930 Heinrich Brüning became chancellor of Germany he told his friends in the unions that his chief aim was to liberate Germany from paying war reparations and foreign debt,â€

Robber Barons all over again?

There are also many parallels between the US in the late 20' or early 30"s to the US today. I hope and pray history is not about to repeat itself.