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Precisely. That is why Germany does not have a great domestic economy, all of their wealth is generated from exports, i.e. first we lend you the money, then yo
by j_col 15y ago
Precisely. That is why Germany does not have a great domestic economy, all of their wealth is generated from exports, i.e. first we lend you the money, then you buy our expensive cars with the money, then we ask for the money back ;-)
- Uchikoma 15y agoAnd then I bail you out with the money from my high income tax. You have the car. The carmaker has it's money. The bank has it's money. I don't have a car. I've paid for all this ;-)
- j_col 15y agoEh, who exactly is getting bailed out? I think you mean loans, which are expected to be paid back in full (and up until very recently, interest was also paid on these "bail outs" making it a profitable venture for the country doing the lending).