Germans not so rich

[yannek]

hi folks, I'm new here in this forum. this tread has got an interesting thought. how would you define a rich person and how a poor one. unfortunetly this statistic shows something about germany's economy and not about the ratio of poor and rich poeple in germany. germany had a social market economy, now its more like capitalism (totally free) market economy. in my opinion it's like a ticking bomb for the society, when rich poeple get richer and poor poeple can't life with their wages. what do you think about it?

oh, please excuse my english, i'm a bloody herman

[sasguru]

You're comparing London against the whole of Germany? Every country has areas of much greater wealth and much greater deprivation. Apart possibly from Luxembourg which doesn't have space. In fact even in London the pattern repeats at a smaller scale - central Vs greater, north VS south, borough X Vs borough Y.

London may be the heart and the pulse, and even the brain, of the UK, but just try removing the heart and brain from a body and see how that turns out. You need all the dull fatty bits (the north) to keep the heart and brain going.

Jeez you're a bit slow. No I'm not comparing London's gross GDP with Germany just its GDP per capita.
In terms of gross GDP its still larger than Switzerland
And what do you think the North contributes to London? Nothing. The stats show (in spite of Zardoz's ignorant post above) that London subs the North hugely. Take it away and London gets even richer.

http://www.ukmediacentre.pwc.com/ima...DetailsID=1562

[ZARDOZ]

Logical fail.
The fact that the PIIGS don't appear in a list of the biggest importers of German goods only tells us that they are small economies, not that the vast majority of their imports don't come from Germany.

That wasn't the point was it. The article says:
"Germany may have sold lots of Mercedes and BMWs to Greece and that makes the export figures look good. But the Greeks cannot pay for them. Instead, Germany has "loaned" Greece the money. Yet there isn't a hope in Hades of all this money being paid back. "

Those figures above account for >650 billion of the exports in 2012, that's over 60% before Portugal, Spain or Greece exports are counted. Exports to Greece were around 9 billion. Less than 1% of their total exports.
So according to the Telegraph 9billion out of >1000 billion is falsely making the exports look good.

[sasguru]

Italy's among them, although I don't know how many of those imports from Germany are Italian industrials importing German components, just as German industrials import Italian components. Probably a lot of trade back and forth there.

Did you know that the Nissan Sunderland factory alone churns out more cars per year than all the car factories in Italy put together?
Sadly of course all the profits end up in Tokyo.

[sasguru]

That wasn't the point was it. The article says:
"Germany may have sold lots of Mercedes and BMWs to Greece and that makes the export figures look good. But the Greeks cannot pay for them. Instead, Germany has "loaned" Greece the money. Yet there isn't a hope in Hades of all this money being paid back. "

Those figures above account for >650 billion of the exports in 2012, that's over 60% before Portugal, Spain or Greece exports are counted. Exports to Greece were around 9 billion.
So according to the Telegraph 9billion out of >1000 billion is falsely making the exports look good.

Ok fair enough. apologies.

[eek]

Did you know that the Nissan Sunderland factory alone churns out more cars per year than all the car factories in Italy put together?
Sadly of course all the profits end up in Tokyo.

surely you mean Paris as Renault has a very significant stake in Nissan.

[suityou01]

Ok fair enough. apologies.

What's this handwringing all about eh? Brillo could you hand SasGuru back to MF please.