German Economy Is Kicking Ass

Following up on my prior post about the European economic model, the Wall Street Journal reported Saturday that the German economy is expected to grow 3.5% this year, its best performance since reunification. Moreover, much of this growth is coming from internal demand, balancing the economy away from its already strong export base. In other words, the high wage, high tax rate German economy has already recovered from the global recession and is starting to kick our ass.