Posted Jul 3, 2013 by Martin Armstrong
Since 2010, members of the German Parliament have been using the iPad in the office, and the Parliament approved the iPad as a paper-replacement for reading speeches. But that said, improvements economically have not taken place. German net worth per family is among the LOWEST in Europe because of excessive regulation and high taxation. The socialist candidate is going through a crash and burn phase leaving Merkel the likely victor. But her policies, while they bend with the political winds, are not helping restore the German economy.
It is widely known that the banks with the biggest hidden problems are actually in Germany. The banks need capital badly and the stricter banking rules from Basel are not helping matters. Germany is moving into recession and this will increase bad loans among German banks. We will begin to see rising unemployment in Germany next year and the economic decline will lead to further capital flight to the dollar.