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Investors: Beware of the relationship between economy and culture.

July 4, 2010

Sixty five years after the Germans devastated their economy by waging war on the world, the resilient German economy is bailing out the cultures of Southern Europe from economic collapse. Lucky for the “fun-loving” cultures of Greece, Spain, and Portugal to be accepted into the European Union. They can demand bailout instead of  learning from the Germans how to work hard. I know, it is not politically correct to say that in the German culture people work harder and more efficiently than in the Greek culture – but it’s true. The Greeks are the cradle of ancient civilization, but the Germans are the cradle of the European Union. Investors, beware of investing in “fun” cultures that like to consume far more than they produce!

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2 Comments leave one →
  1. July 9, 2010 1:00 pm

    “Investors, beware of investing in “fun” cultures that like to consume far more than they produce”

    You mean cultures like America? In virtually every metric you care to think about America’s consumption far outstrips its production. Energy is a fine example to start with.

    • July 9, 2010 2:18 pm

      Yes, the US, Greece, Spain, England, and many other countries in debt up to their ears.

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