March 4, 2005
LIFE IS A CABARET:
Tough times for Germans: Government struggling to halt downward spiral of low growth and high job losses (Derek Scally, 3/04/05, Straits Times)
THE only hope of re-election for the government of German Chancellor Gerhard Schroeder is for the economy to break out of its catch-22 situation.After reports that the number of unemployed had risen to a new post-war record of 5.2 million, or 12.6 per cent, economists see consumers spending less. And if consumers spend less, they say, economic growth will be restricted to less than 1 per cent and deter employers from hiring.
The trigger for German firms to start recruiting again is believed to be growth of at least 2.75 per cent.
No jobs, no growth. No growth, no jobs. This is more bad news for Mr Schroeder, who used one word to describe the jobless report: 'Depressing.'
Try: Depression.
MORE:
Meanwhile, seventy years into the future, Unemployment up, but so is number of jobs (Associated Press, March 4, 2005)
America's employers added a sizable 262,000 jobs in February — the most in four months.Posted by Orrin Judd at March 4, 2005 2:40 PM
Well, at least they don't have hyperinflation this time - at least not yet.
Posted by: Bret at March 4, 2005 4:08 PMSchroeder is a socialist. He should raise taxes or nationalize those industries not hiring, guarantee well paying jobs. Possibly shorten the work week.
Posted by: Tom C., Stamford, Ct. at March 4, 2005 9:59 PMHis Third Way feints have not worked. The CDU-CSU is probably to his left on economic matters. It is far from inconceivable that he might fire his entire economic team and bring in some of the old lefties like Oskar Lafontaine and perhaps try a full scale charm offensive with the Commies of the PSD.
'The Cold War is over and let bygones be bygones. So what if you guys massacred hundreds of thousands of our countrymen. You hate America, we hate America. You want a large bureaucratic state apparatus guaranteeing full employment whether those jobs actually do anything, and so do we.'
It's a marriage made in Paradiso or some other part of the Comedia Divina.
Posted by: Bart at March 5, 2005 10:30 AM