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Originally Posted by Lurchi
It is true - noone compelled german or any other banks to invest in the U.S. market.
It is also true that many companies made large profits in the U.S.A. as it is still a very important market for BMW, Mercedes, VW and Porsche - even Airbus.
I think the U.S. ranks 5th place among Germany's most valuable trade partners, with the UK getting in 4th recently. From this one can see that we should have every interest that America gets its problems fixed which -of course- does not mean that we have plenty to solve of our own ...
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not at the cost of leaving america such an unbalöanced consumer and extreme spender and money-lender that it is, becasue then we only delay the blowback of an deepßly unhealthy situation - a delay at the price of increasing the final bill to be payed, by them, by us, by us all.
germany always made one strategic mistake: it has mkistaken strong exports to be a strategic strength. In fact, it is the exact opposite, since it means strong dependence on the good will of others. This leaves germany always in an exposed position.
While it is true that foreign economies were not forced to fall for american finance products, it nevertheless were American banks spreading these in the world, inventing them, propagating them, setting them up like baits, and refusing any regulation or monitoring of them to safeguard agaimnst their risks, especially the often demanded regulating of hedgefonds is on my mind, the american rejection to accept implementing of measures that would rpeevnt banks from being able to sell away the risks of their risky operation is another major point. To say nobody forced other nations to fall for these practices and being fooled by their promises is like saying that it is the fish's mistake that the fisherman has brought out a line. And in case of aggressively, almost warlike operating hedgefonds, it compares even more to saying that it is the deers fault that it did not evade the shot when the hunter shoots it over long distance.
The system is the problem, and it must be replaced. that a massive chnage of the ways in which global economy is being done, is following in the wake of this, muist not be explicitly mentioned, I assume. And since almost all and everybody does not wish this massive chnage which is nothing but a revolution, things will continue to fall apart and detoriate for a long time to come. what I wish for, probably is an utopia. what I realistically assume to happen indeed, is a maelstrom. It will not result in a better world or economy order, but in greater chaos.