growth predictions for germany range from -0.5 to -4% in 2009. And Germany is consistered not to suffer that hard from the crisis. LOL
Well I hope this crash will finally allow a change of Political system in Germany. We need a stron Leadership and not 5 Partys. Something like a Kaiser, we could simply call him Leader. This would be good for us.
Napoleon auf St. Helena: "Hätte der Himmel gewollt, dass ich als deutscher Fürst geboren wäre und hätten Sie mich einmal zu Ihrem Kaiser gewählt und ausgerufen so scheint mir noch Heute, dass Sie nie von mir abgefallen wären und ich Heute nicht hier sitzen müsste."
What we're looking at is not a "depression" but rather an adjustment.
Unsustainable financing and unrealistic fiscal policy is having its impact. The market is not sustaining the spending/debt ratios it had predicted so it is now making up for it. People are not going to stop buying cars or mobile phones or consumer goods. These are pretty much good. People, however, are going to be called for buying too much house or real estate and investing on garbage.
Money flows as it's generated and spent regardless of governments.