Germany: a Keynesian burial ground

From the WSJ:

Germany’s economy is set to grow 3.4% this year as its recovery continues across almost all sectors, the government said Thursday in its updated forecast for this year. The growth forecast for 2011 is a more modest 1.8%.The government’s previous forecast in April predicted 1.4% growth this year, before Europe’s largest economy posted a blistering 9% annualized rate of growth in the second quarter and other indicators, such as unemployment rates and business confidence, continued to suggest a more rapid rate of recovery.

. . .

Germany is recovering from its worst recession since World War II—the economy contracted 5% last year. But as recovery has become more precarious in other developed nations hit by the financial crisis, including the U.S., Germany has soldiered on.

Germany’s stimulus measures were tiny compared to our own, yet it is recovering more quickly.

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