Third, wholly botched energy reforms, wherein Germany abruptly turned away from nuclear power without putting anything economically sustainable in its place (instead touting that some day, somehow wind and solar will make economic sense) has left the country at a permanent, seemingly long-term economic disadvantage that simply cannot be overcome. German energy prices are fully three times as high industrially as those of their American competitors. As I say to my somewhat nervous German colleagues, "You are all talented, but you are not three times more talented than the Americans".The punch line? All the other countries in the Eurozone are worse off than Germany.
Via Al Fin, who has some other interesting thoughts.
Yay! Best of the Worst! This is what Euro-Socialismus delivers.
ReplyDeleteAnd, at long last, the Europeans are getting their wish.
ReplyDeleteHow does that saying go again? "Be careful what you wish for..."