European Economies

While perusing a stack of somewhat dated newspapers, I noticed a few bits that might help you understand the economies of some of our neighbors across the pond.

Did I really see a blurb that said that organized crime was the largest segment of the Italian economy? Yep. Didn't dream that. Dutifully reported in The New York Times.

I also saw a couple of stories about Germany. One was reporting on the way the Germans like to save money. So much so that perfectly affluent people furnish their apartments from stuff from the street or dump. Dampens retail sales does this tendency to save for a rainy day. Give those Germans some U.S.-style consumers to buy a bunch 'o bedroom suites, flat screen TVs and kiddy toys from China with dubious paint. Fact is the Germans make some quality toys with no lead paint and high enough prices. Playmobil. Fact is I've seen Germans doing lots of upscale shopping. But maybe judiciously. Said in the article that German ebay is second largest after U.S. They love a bargain, I guess. Saw another article about German booksellers. In German, book prices can't be discounted so all the little stores co-exist with the giants. This has actually resulted in lower suggested retail prices. Somehow. Whole system is now threatened by the Swiss allowing discounting of German language books.

And finally, the French. I love France by the way. (And Italy. And Germany.) But the French are being told that their lack of trust of one another is so extreme that it is affecting their economy adversely and adding much unemployment.

It all sort of makes me go 'hmmm' in a Journal of Unintended Consequences kind of way. Especially the worry about consumers in Germany because it always seems that the U.S. economy is dependent on all of us spending like fools.