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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: laurin_de who wrote (9769)	5/25/2005 3:40:22 AM
From: Crossy	Read Replies (1) \| Respond to of 37387

Laurin, sorry to "blast back".. but I don'T see that it's the task of hedge funds to "create jobs".. a flexible ecoonomy does that itself without any manoevering from central government. This restructuring phase was painful inthe US and in Britain also. But they made it and the people there if asked NEVER WANT TO GO BACK. IF you guys in Germany continue to do things like subsidizing coal mining, letting lossmaking "national airlines" pilots earning good salaries go on strike because they want even more .. you never dig yourself out of the hole you dug yourself in.. JMHO of course.. Don'T forget all these "job guarantees" by government fiat have to be financed by taxpayers money. In this way the forces of creative destruction are prevented from doing its job. Over the time, you end up with an outmoded industry structure and the necessary change gets ever more painful. Demographics aren't the real problem in Germany IMHO, in light of 5m and more jobless. Bringing in more people thru immigration for example doesn't seem to have been creating jobs. This "illness" is all over continental Europe. Germany, France and Italy however have the worst of their kind from an economic point of view. Not enough flexibility, friction loss due to undue trade union influence and labour market rigidities. The market enforces discipline here, nothing more and nothing less. CROSSY