In these financially troubling times, when the world is frantically looking for solutions to its financial crisis, the popular opinion is that Germany of the large industrial nations provides an example of financially stable nation that still keeps it political system of “social solidarity,” i.e. makes those that work pay for those that don’t. After all, isn’t it Germany that is expected to not only remain stable but also pay for the socialist experiments in Greece, Ireland, Portugal, Italy, Spain, and who knows where else? Surely the Germans have found the solution to what no one else – not even the United States – has found: Make the government pay for everything imaginable, and not incur debt. And Germany’s rating is still AAA, right?
Von wegen! (No way!), says Financial Times Deutschland in an editorial of a few days ago. In a quite sobering tone, the article describes the financial reality in Germany: The government is running massive deficits, the federal government is sinking deeper in debt by tens of thousands of Euros every minute, and the interest rates are increasing to a point where the payments on them will consume all the revenues.
“We are only a one-eyed man among the blind,” admits the author. “We are just not as deep in debt as the others, but we are getting there. We should be thankful for still having our AAA-rating but we are on the way of losing it.”
Then, in a very perceptive line, showing insight that has never been available to our own MSM in the US in the last 50 years, the article declares:
All attempts of politics to focus entirely on growth as a financial Savior, have failed.
It takes a German to tell the truth these days: The reason for our problems today is that politics and politicians have tried to establish a new religion, the religion of the almighty state that can solve every problem, right every wrong, produce growth and prosperity, without at the same time taking account for the limits of reality; immediately spending and consuming what is produced, never saving and investing for the future; living beyond its means, rejecting any financial discipline. That religion of socialism, of the state become a god on earth, the Savior of humanity from its economic ills, has destroyed many economies, including the American economy. Germans may deceive themselves they are immune to its destruction. They aren’t.
When Germany’s failure is obvious, the failure of the socialist-liberal social paradigm will be completely exposed. The state is not a god, and when it tries to act as one, it will inevitably collapse under the weight of its own divine promises.
And when Germany fails, Europe is gone. And with Europe, gone will be the whole political establishment which has deceived its European subjects about the glories of socialism. Reality demands its toll, eventually.