Thursday, August 13, 2009

France & Germany Lead World Out of Recession

France and Germany appear to have come through the recession. Both nations' economies grew, albeit only slightly, during the April-June quarter.

The banking systems in both countries took a real hit during the Made-In-America global meltdown. Canada's banks, by contrast, remained the strongest in the OECD, largely thanks to Liberal fiscal conservatism.

So ask yourself why France and Germany are bouncing back while we're still reeling. Maybe because we're joined at the hip to the US economy and we haven't cultivated the diversity in international markets that might soften the impact.

Remember Pierre Trudeau speaking about the mouse sleeping with the elephant?

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