Merkel isn't buying excuse that recording her phone was unintentional. She is one smart COOKIE!
Remember years ago, the G12 demanded she 'stimulate' the economy to help save Greece! She declined and which nation in Europe again has seen an improving economic outlook? Answer: Germany
She said it all in a PBS interview, (paraphrasing:)
Since Luther, Germans have known how to succeed. We work hard, we save and we live thriftily.
Considering that Germany has recovered from the loss of two World Wars and reunification, I'd say she is onto something. With interest rates at under 1%, way below inflation, we turned our backs on savings years ago. We replaced bank loan officers paid by the bank to protect our assets with brokers paid by percentage and had no interest in whether the loan could or would be repaid. Bush thought the poor would grow the economy if he cut their taxes. He raised child credits and EITC until almost 50% paid no federal income taxes by 2008. They didn't save, invest or start businesses, though, they could barely pay the cable bill. And Bernanke just kept manufacturing new money which of course mainly benefits the 1%. Now Bernanke is replaced by a woman, and I have to say this, sorry, she may be left to 'clean up' in the end.
The Brits lost the world currency, their pound sterling; so it can happen. We are not immune. Its the middle class and poor who are paying the piper, sadly.
The money and power, the lobbyists, and the shakers and movers mostly live in ‘This Town,’ by Mark Leibovich. I recommend it.
"The Lakota have an even stronger concept than tribal sovereignty, namely personal sovereignty. I have been told by the author of “Atlantis“, Robert Klassen, that “tawamiciya” is a word in the Sioux language, meaning to belong to oneself, free of other men." Michael S. Rozeff
