https://www.theguardian.com/world/2016/ ... e-any-more
Times columnist Paul Krugman presents a more "Macro".A joke heard quite regularly these days is: “If you want to see German efficiency, go to Switzerland.” While it has German engineers squirming, most can only nod in agreement. It is certainly hard to imagine such a prestige project happening in Germany these days. Most of the country’s recent high-profile construction schemes have become great national embarrassments, beset by massive delays and huge cost overruns. A new Berlin airport, originally scheduled to open in 2010, is still years from being realised and billions over budget, while the Elbphilharmonie – a concert hall in Hamburg’s harbour city – is seven years behind schedule and €550m (£430m) over cost. Stuttgart’s underground railway station is in a similarly shambolic state. That’s not to mention the collapse of Cologne’s city archives a few years ago, thanks to the botched construction of a new underground line
https://www.nytimes.com/2019/08/19/opin ... urope.html
I think the Global economies are looking at a recession next year. Such are simply part of the economic cycle. While I do not think we're looking at an "'08 Rerun" , we will be looking at a distinct "slowdown", we in the USA have precious little slack with which to play. But evidently, the EU community has none..The funny thing is that there are some aspects of European policy, especially German economic policy, that do hurt the world economy and deserve condemnation. But Trump is going after the wrong thing. Europe does not, in fact, treat us badly; its markets are about as open to U.S. products as ours are to Europe’s. (We export about three times as much to the E.U. as we do to China.)
The problem, instead, is that the Europeans, and the Germans in particular, treat themselves badly, with a ruinous obsession over public debt. And the costs of that obsession are spilling over to the world as a whole.