{"id":1110,"date":"2009-03-10T05:15:03","date_gmt":"2009-03-10T13:15:03","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/?p=1110"},"modified":"2009-03-10T05:15:03","modified_gmt":"2009-03-10T13:15:03","slug":"germany-does-not-have-a-financial-crisis","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/germany-does-not-have-a-financial-crisis\/","title":{"rendered":"Germany Does Not Have a “Financial” Crisis"},"content":{"rendered":"

\"\"
\nAngela Merkel<\/em><\/p>\n

COGwriter<\/a><\/p>\n

Since early Fall of 2008, I have reported a lot about the financial crisis and its effects on many nations around the world.\u00a0 As I stated then, the problems seem to be allowing for the formation of the German-led European Union to take over the premier leadership in the world economy from the USA and its Anglo-allies– who have had it for about a century or so.<\/p>\n

While there are some economic concerns in Germany, Germany appears to be highly determined to be in a solid position to take on the economic leadership role.\u00a0 Unlike the USA and UK which seem to wish to increase debt as quickly as possible, Germany appears confident that its more limited, more patient, economic approach is best at this time.<\/p>\n

Although all is not perfect in Germany, notice that what I have been saying is basically confirmed in following news article:<\/p>\n

Germany at odds with U.S. over\u00a0crisis<\/strong><\/span><\/p><\/blockquote>\n

International Herald Tribune<\/strong> – March 9, 2009<\/span><\/p><\/blockquote>\n

Germany may be at the heart of any European response to a weakening world economy, but Germany’s heart is not in\u00a0it.<\/span><\/p><\/blockquote>\n

As world leaders gear up for a London summit meeting on April 2 where they are supposed to settle upon a coordinated response to the global economic crisis, conflict is brewing between Europeans who see tighter regulation of a skewed financial system as the main task ahead and Americans who are focused on the more immediate challenge of countering the acute dropoff in economic activity across the\u00a0globe.<\/span><\/p><\/blockquote>\n

The differences between Europe and the United States are most evident in Germany, where years of growth fueled by a mighty manufacturing base and a deep-seated suspicion of financial capitalism has spurred a powerful resistance to the Keynesian-style deficit-spending favored in\u00a0Washington.<\/span><\/p><\/blockquote>\n

As the United States pushes to ensure that governments around the world are spending enough to replace the demand that has evaporated as U.S. consumers lead a global retrenchment, Germany is sticking to the relatively modest stimulus it has already\u00a0approved.<\/span><\/p><\/blockquote>\n

“The German approach is going to be ‘let’s wait on what we have already done,”‘ said Peter Bofinger, a professor of economics at the University of W\u00fcrzburg and a critic of the government’s reluctance to spend\u00a0more…<\/span><\/p><\/blockquote>\n

British-German entente has emerged as a new twist in international economic\u00a0policy.<\/span><\/p><\/blockquote>\n

When Germany tried to put hedge fund regulation on the agenda two years ago, Britain sided with the administration of George W. Bush in opposing the idea. But two weeks ago at a meeting in Berlin, Brown lined up alongside Merkel and Sarkozy in demanding close regulation of the financial\u00a0sector.<\/span><\/p><\/blockquote>\n

“These reforms, which I have been calling for some time and before the global meltdown, are crucial,” Merkel said. “It is about introducing transparency into the\u00a0system.”<\/span><\/p><\/blockquote>\n

Merkel’s government pushed through a \u20ac50 billion, or $63 billion, stimulus package in early January, but that still fell short of the demands from both outside the country and inside among a number of prominent economists to do\u00a0more.<\/span><\/p><\/blockquote>\n

Germany is not the only country in the world leery about cranking up spending. Japan is also watching its export machine falter, but a dysfunctional political system and already very high public debt levels limit the response\u00a0there.<\/span><\/p><\/blockquote>\n

In Germany, the lack of palpable effects of the economic crisis for ordinary Germans, along with a deep-seated mistrust of running up debt appears to be reinforcing the government’s opposition to doing more, analysts said. And Germany is only now beginning to debate whether its export-heavy economic model might need to change in favor of greater demand at\u00a0home.<\/span><\/p><\/blockquote>\n

Political developments have also left Merkel with little room to maneuver. With elections due in September she is loath to go on a massive spending spree; the opposition Free Democrats, which she hopes to lure into a conservative coalition after the election, will accuse her of trying to buy\u00a0votes.<\/span><\/p><\/blockquote>\n

Then there is the pressure from inside her own party, which is uneasy with bailouts and heavy spending. Some of the regional politicians broke silence over the past few days by criticizing Merkel’s lack of clear\u00a0leadership.<\/span><\/p><\/blockquote>\n

There is broad support for thrift in Germany because of its history. Savings were wiped out by policies that created hyperinflation in the 1920s and left it with another worthless currency after World War II. Since then, German economic policy, across party lines, has been about assuring stability – even if that means accepting slower growth or higher\u00a0unemployment.<\/span><\/p><\/blockquote>\n

Merkel’s main argument is that if Germany, the biggest economy in Europe, were pushed to spend more to stimulate the economy, it might drag down the Continent over the long term by miring it in heavy debts that would require even higher taxes. That, German officials said, is something that the United States seldom\u00a0appreciates.<\/span><\/p><\/blockquote>\n

At the same time, Germans warn, it would encourage more profligate countries – Greece, Italy and Spain are often mentioned in this context – from making the hard choices that brought the German budget nearly into balance before the\u00a0crisis.<\/span><\/p><\/blockquote>\n

“We did our homework,” said Kurt Lauk, chairman of the economic council in Merkel’s center-right Christian Democrats party. “That creates a bad mood of sorts within\u00a0Europe.”<\/span><\/p><\/blockquote>\n

On its face, Germany looks hard hit by the crisis, and the government expects the economy to contract by 2.25 percent in 2009, its worst showing in the post-war\u00a0period.<\/span><\/p><\/blockquote>\n

Dig a little deeper, though, and the situation, to Germans anyway, looks less dire. German unemployment, reflecting fat orders to manufacturers and recent changes that made labor laws a bit more supple, has barely risen so far. In February it ticked up slightly to 7.9\u00a0percent.<\/span><\/p><\/blockquote>\n

Still, with energy costs off their peaks of the summer, and food prices – a source of much complaint in Germany – also down, the mood among German consumers has remained surprisingly upbeat. That stands in sharp contrast to their U.S. and British\u00a0counterparts.<\/span><\/p><\/blockquote>\n

“The Germans have an economic crisis,” said Wolfgang Twardawa, a consumer analyst at the research firm GfK, “but they don’t have a financial crisis<\/strong>, and they certainly don’t have a property\u00a0crisis.”<\/span><\/p><\/blockquote>\n

Twardawa said he believed the German government would end up passing another stimulus plan, but only after national elections in\u00a0September.<\/span><\/p><\/blockquote>\n

The idea that Germans need to spend more is also sensitive in Germany because it casts doubt on the viability of the country’s economic model. After German unification in 1990, manufacturers in the country rapidly lost competitiveness as labor costs spiraled out of control and their products lost once-sterling reputations. They responded in the late 1990s with aggressive cost-cutting that included stringent limitations on wage increase, and a new generation of world-class\u00a0products.<\/span><\/p><\/blockquote>\n

The mixture made Germany the world’s largest merchandise exporter – “export world champion,” in the German press. But workers’ wages stagnated and retailers in Germany suffered from weak\u00a0demand.<\/span><\/p><\/blockquote>\n

“For the Germans to turn around and say there is no point in stimulating domestic consumption because our economy is export-oriented makes no sense from their own perspective or a broader international one,” said Simon Tilford, chief economist at the Center for European Reform in London. “The crisis has graphically exposed the limits of the German economy\u00a0model.” <\/span>http:\/\/www.iht.com\/articles\/2009\/03\/09\/business\/stimulus.php<\/span><\/a><\/p><\/blockquote>\n

Never (in my lifetime at least) have we seen a situation quite like this.\u00a0 The USA and UK massively increasing debt, while Germany is cautiously trying to show itself and the world that it has the economic policies that make the most sense.<\/p>\n

The debt that the USA and UK are accumulating is not sustainable for either to be the premier economic engines for the world for much longer.\u00a0 While this more massive debt accumulation is not a change I can endorse as wise, it was long ago prophesied (Habakkuk 2:3,6-8) as was the rise of Europe to become the lead economic power of the world (Revelation 18).\u00a0 Both the Anglo-American nations and those of Europe are taking policies to fulfill those prophesies.<\/p>\n

We who believe the Bible need to have the faith that God will finish His plan, His will WILL be done, and the 6000 years He has given humanity to rule itself on its own is almost over.\u00a0 Soon (probably by the end of the next decade) Jesus will return and establish the Kingdom of God on this earth.\u00a0 A time of peace, prosperity, and safety.\u00a0 That is part of why Jesus instructed His followers to pray, “Thy kingdom come” (Matthew 6:10, KJV).<\/p>\n

Several articles of possibly related interest may include:<\/em><\/p>\n

Who is the King of the North?<\/a> Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand<\/span>? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
\nEuropa, the Beast, and Revelation<\/a> Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about \u201cthe Beast\u201d? What is ahead for Europe?
\nAnglo – America in Prophecy & the Lost Tribes of Israel<\/a> Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
\nProphecies of Barack Obama?<\/a> Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist?\u00a0 Might Barack Obama set the stage for the kings of the North and South as his timing and at least one Shiite prophecy suggests?\u00a0 This is the longest and most detailed of the articles here at COGwriter related to prophecy and Barack Obama.
\nBarack Obama, Prophecy, and the Destruction of the United States<\/a> Some claim that Barack Obama is the prophesied \u201cson of Kenya\u201d. Might Bible prophecy be fulfilled since he is to be the USA president?
\n<\/a>Two Horned Beast of Revelation and 666<\/a> This article explains how the LCG views this, and compares this to Ellen White.\u00a0 Neither John McCain nor Barack Obama are 666.
\nEnd of Mayan Calendar 2012\u2013Might 2012 Mean Something?<\/a> There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan\/Hindu\/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
\nCan the Great Tribulation Begin in 2009, 2010, or 2011?<\/a> Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?
\nDoes God Have a 6,000 Year Plan? What Year Does the 6,000 Years End?<\/a> Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
\nDid The Early Church Teach Millenarianism?<\/a> Was the millennium (sometimes called chiliasm) taught by early Christians? Who condemned it. Will Jesus literally reign for 1000 years on the earth? Is this time near?
\nThe Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church<\/a> Did you know that? Do you even know what the gospel of the kingdom is all about? True religion should be based upon the true gospel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Angela Merkel COGwriter Since early Fall of 2008, I have reported a lot about the financial crisis and its effects on many nations around the world.\u00a0 As I stated then, the problems seem to be allowing for the formation of the German-led European Union to take over the premier leadership in the world economy from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1110","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/1110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/comments?post=1110"}],"version-history":[{"count":2,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/1110\/revisions"}],"predecessor-version":[{"id":2492,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/1110\/revisions\/2492"}],"wp:attachment":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/media?parent=1110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/categories?post=1110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/tags?post=1110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}