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turbinerneiter commented on European Central Bank rises rates by 0.5%   ecb.europa.eu/press/pr/da... · Posted by u/tlamponi
RobertoG · 3 years ago
That's an interesting point.

After the reunification, Germany, as a country, is the poster child of economic success. The balance of trade of Germany, has been just ridiculous. Still, the conditions of the average German have not improve, if something, they are worst.

So, where are all that wealth going? I suppose if you ask the politicians they will tell you that to those lazy guys in the south. Well, that's not it. The Germans should take a good look at what's going on there.

Is that the model others should copy?

turbinerneiter · 3 years ago
Germany has a lower gini coefficient than Spain. Germany is higher on the quality of life indexes as well.

Also, you keep railing about "the lazy guys in the south". I'm sorry these stereotypes exist. I don't believe them.

Do you seriously believe the problems of the Spanish economy are all because of Germany? There is absolutely not even a single thing that Spain is doing wrong?

turbinerneiter commented on European Central Bank rises rates by 0.5%   ecb.europa.eu/press/pr/da... · Posted by u/tlamponi
toyg · 3 years ago
You should take a breath and chill with the Jingo.

> are all countries willing to adopt German fiscal discipline?

Most of them have already, you just don't read about it. If anything, German authorities have been excellent at gaming the EU framework, siphoning state aids to this or that industry with all the possible loopholes they could find, while everyone else had to renounce (or even denounce) the practice.

> Are all countries ok with levelling out retirement age?

The pension age in Germany is 65 years ("and 10 months", in my best Lester Freamon accent). In profligate Italy? 67. So yeah, let's have that.

> Social benefits?

Honestly, you don't want to trade benefits with the army of temp workers that Italian "reforms" have generated. They get hardly any paid holiday or sickness, can be fired with no recourse year by year, and so on. German workers get trade union representation at board level, something that simply does not exist in Italy even in the most enlightened companies. They get loads of paid holidays and so on.

> Now they are an economic powerhouse. With 0 natural resources

Ah yes, the Ruhr never existed. From wikipedia: "The Ruhr was at the centre of the German economic miracle Wirtschaftswunder of the 1950s and 1960s, as very rapid economic growth (9% a year) created a heavy demand for coal and steel." All that coal must have been a dream.

Italy had an economic boom in the postwar age too. After all, they were fellow victims of Allied carpet-bombing of industrial infrastructure, and fellow enjoyers of the Marshall Plan. The main difference is that Italy made a few bad choices in the '80s (and possibly another one in the late '90s, when they accepted an Euro/Lira rate too low).

In any case, this attitude is not constructive. It's good that the German political classes, at least, have finally realized that the hipocrisy of privately benefiting from a sclerotic status quo while publicly denouncing it, could not go on forever. Let's build the United States of Europe, everyone doing their bit so we can fulfil the federal dream and be done with these petty rivalries from 200 years ago.

turbinerneiter · 3 years ago
> You should take a breath and chill with the Jingo.

I had to look up what that means. I'm not German. Now what?

> So yeah, let's have that.

Yeah, let's. Italian pensions are about 90% of the former salary? Germany is 50%. Italians make higher payments tough as well. The difference is, Germany is doing that from a much lower debt ratio.

Temp workers are a thing in Germany as well, they get no inion representations. And again, the difference here: German economy is doing well.

Sure the Ruhr existed, have you been there lately? Crazy decline since the 70s. Wasn't a coincidence that the heaviest german metal bands come from there.

> The main difference is that Italy made a few bad choices in the '80s

Exactly. That's why they have this huge debt now, which results in the whole Eurozone shaking whenever interest rates go up. That's why we had low interest rates, which the Germans were very unhappy with. Draghi tried to work on that, but now he is out. Seems like a right to far right coalition might ein the election in the promise of flat tax and not raising retirement age. Will that be the Germans fault as well?

> Let's build the United States of Europe, everyone doing their bit so we can fulfil the federal dream and be done with these petty rivalries from 200 years ago.

Yes, please! But that only works if everyone is in and works on themselves. I don't thinkt the attitude of blaming everything on the Germans is very constructive either.

turbinerneiter commented on European Central Bank rises rates by 0.5%   ecb.europa.eu/press/pr/da... · Posted by u/tlamponi
RobertoG · 3 years ago
It's not about boogie men, it's about economic realities.

Very different countries can't be in a functional monetary and banking union without a common fiscal capacity. In terms of the USA it would be like there was a Fed without a treasure. Or another way to see it, it's like the countries in the Euro use a foreign currency that they don't control. If you are interested I recommend this prescient article by Wynne Godley (1).

So, if the design of the Euro is bad, why don't change it? Because for some countries is very advantageous. Germany being the best example, they are an export powerhouse that now have unrestricted access to the common market and, because is a common currency, it will no appreciate or devaluate following the commercial balance. Of course, this is sell like they don't want to finance the lazy pigs in the south.

(1) - https://www.lrb.co.uk/the-paper/v14/n19/wynne-godley/maastri...

turbinerneiter · 3 years ago
And Germany is stopping the EU from further integration?

If we do this fiscal union, are all countries willing to adopt German fiscal discipline? Are all countries ok with levelling out retirement age? Social benefits?

Also, why are you not mentioning that Germany already agreed to the EU taking on common debt during the corona crisis? That the new government is very much pro further integration?

I hear a lot about what Germany is doing wrong. What are the others doing wrong? Germany was desolat themselves after the reunification, they were called the sick man of Europe. They then did harsh and brutal labour market reforms, and a bunch of luck probably as well. Now they are an economic powerhouse. With 0 natural resources, they are all imported.

It's not the Germans fault that Italy has loads of debt. It's not the Germans fault that Spain built useless ghosttowns in the middle of nowhere. They can only export what others are willing to import. And they are not exactly exporting cheap cars at dumping prices, are they?

Sure, Germany is far from perfect and they do lots of things in their own self interest. But maybe the other countries can also try to do better? How long did the Italians keep Berlusconi in power? Draghi threw the towel today, again, because the parties in parliament are unwilling to cooperate to better Italy.

Maybe try to copy what Germany is doing well, instead of feeling like a victim of German evilness.

turbinerneiter commented on European Central Bank rises rates by 0.5%   ecb.europa.eu/press/pr/da... · Posted by u/tlamponi
RobertoG · 3 years ago
What Germany could have done is to accept a change in the treaties for a real fiscal capacity at the European level.

But, instead of that, Germany preferred to enjoy access to a common market and devaluated Mark (that is basically what the Euro is) while pontificating from a high horse.

Instead of a functional monetary union we get this mess. And now we all have to be solidary with Germany energy problems. We will see.

turbinerneiter · 3 years ago
> What Germany could have done is to accept a change in the treaties for a real fiscal capacity at the European level.

Can you elaborate on that? What are the ideas that Germany opposed?

A lot of this reads like Germany is the boogie man and every other European country is their poor victim. That's a little bit to one-sided for me.

turbinerneiter commented on European Central Bank rises rates by 0.5%   ecb.europa.eu/press/pr/da... · Posted by u/tlamponi
spaniard89277 · 3 years ago
Yeah but ECB creates incentives for ballooning current expenditure.

At least in Spain, the government chooses helicoptering money over investment every single time. Or prestige projects (High Speed Rail) over practical ones (freight corridors with no so fast trains for people?), higher salaries for public employees (already high compared to private economy), public pensions, etc.

The only demands seems to be higher taxes every year for everyone else. No optimization, just raising and raising taxes every time.

This is not sustainable. Savings and income are taking a nosedive for everyone who's not sucking into the public budget.

This situation is going to explode, and it's going to be ugly, not only for us.

I'm pretty worried about it, honestly. Meanwhile half the country is cheering because the government is very good at selling their narratives and cooking the stats. The reality is we're getting poorer pretty fast.

Maybe germans have some fucking great plan because in 10 years they won't sell many cars here.

turbinerneiter · 3 years ago
> Maybe germans have some fucking great plan because in 10 years they won't sell many cars here.

They are trying to build cars there. Germany's trade surplus also leads to German companies investing more money abroad than at home.

Also, what is Germany supposed to do? What are they doing wrong? EZB is not controlled by Germany, Germany in fact always complained about the low interest rates.

turbinerneiter commented on High property taxes are good   brooock.com/a/property-ta... · Posted by u/brockwhittaker
bko · 3 years ago
That sounds awful. Imagine being forced to move every few years or giving people with money that much power over you. Seems crazy that this idea is so popular. I'm guessing the people who like this idea are very young and mobile. Imagine telling grandma she has to move and sell her house and have police show up at the door when she doesn't want to. It's basically the abuses of eminent domain except done privately.
turbinerneiter · 3 years ago
What makes you think this idea is popular?

I don't even think the author is fully behind it, seemed more like a thought experiment as a reply to grandparent.

Regarding grandma: I don't want to kick her out of the house. But there is a real issue here: young families can't find affordable places, while old families live in places, that are too big for them because the kids left. If they rent, they also pay significantly less than the younger family, since they are on older contracts. Once new people move in, rent is raised to the new level. The older people don't want to move out, because they would have to pay more for their new, smaller place, than the old, bigger place. Meanwhile the young family also has to finance the pensions for that old family.

Noone is being evil here, but ... it sucks. And every idea to work on it is shut down as being unfair to the people who already own houses. Even building new houses is usually opposed by the people who already have houses in the area. If I never get the chance ever to own one, I don't really feel like I have to protect the interest of house owners.

turbinerneiter commented on EU Digital Markets Act, aimed at Google, Apple, Amazon, approved   consilium.europa.eu/en/pr... · Posted by u/Gareth321
brtkdotse · 3 years ago
It’s not a popular opinion around here, but the reason I like my iPhone is _because_ it’s a walled garden. It just works, reliably, without surprises, for years on end.
turbinerneiter · 3 years ago
That's fine, just stay on the default settings then.

This however isn't a reason for the rest of the world to accept this. And since the power in the market is highly concentrated and all of it is moving more and more in this direction, regulation enforces these alternative options now.

All this does is regulate the power the provider of a product has over their customer. This does not ruin the walled garden for the people who prefer to stay in it for peace of mind, but it adds a door for the people who want to leave. There is no negative side-effects for the people staying, only the platform providers will have to spend some money and lose some revenue.

turbinerneiter commented on VanMoof’s team of ‘bike hunters’ appears to succeed where the city doesn’t   sfstandard.com/criminal-j... · Posted by u/kaycebasques
lom · 3 years ago
Video of “the neighborhood being alerted” and... doing nothing against a bike thief. https://youtu.be/UGttmR2DTY8
turbinerneiter · 3 years ago
Honestly, I'd assume he lost his key ...

Best way to get away with some crime is to act all casual about it. Wear a warning west, you can even got one printed with some official town logo the people will recognize.

turbinerneiter commented on The speedy downfall of rapid delivery startups   wired.com/story/the-speed... · Posted by u/taubek
turbinerneiter · 3 years ago
I never understood the rapid part of it.

I either need something really quick, or I can wait. If I need something really quick, they basically need to be very close to me. If they are close to me, I can be just as quick myself. These service only work in dense urban areas. I have 3 supermarkets in 5 minute walking distance.

The non-rapid delivery service in the other hand is a godsend - that's how I got me food when I had COVID. And I guess there are a lot of people sick, injured, old or somewhat indisposed for which this service can be a real life saver. In these situations, I'm also happy to pay for this kind of service.

The rapid delivery part of it always made me feel bad for the delivery people. One time I happened to wait for the delivery on the stairs, he took 15 minute instead if 10 minutes, I was enjoying the sun in the meantime. He apologized for being late and was really stressed about it.

turbinerneiter commented on Germany's Energy Catastrophe   quillette.com/2022/07/14/... · Posted by u/jseliger
ElKrist · 3 years ago
"And if that wasn't enough, one of the largest exporters of uranium to the EU is... Russia."

To be more precise: 5 countries represent 96% of EU uranium imports: Niger (24,26%), Kazakhstan (22,99%), Russia, Australia and Canada.

A country like France has 1-2 years of uranium stock for its electricity production.

Dependence on Russia is way less critical for uranium than gas.

turbinerneiter · 3 years ago
That's why France got an exception from sanctions made for a uranium delivery from Russia.

u/turbinerneiter

KarmaCake day5004January 29, 2016View Original