Is America more socialistic than Germany?

As the American government launches the biggest bailout of the financial market, Europe finds itself deep in financial trouble. Mortgage lenders and banks are just as bad there as they are in the US, but there are some fundamental differences.

Each country in Europe usually only has 3-4 major banks, so we can almost talk about a centralized bank system as well as a more or less centralized insurance system. The different countries in the EU do not have compatible bank laws, so team work is pretty hard.

Merkel, who is originally from East Germany (before the Reunion of west and east Germany), has actually shown a pro-american attitude on a multitude of issues - probably because she remembers what socialist life in East Germany was like.

Now Merkel is against funding of a bailout of financial institutions in the EU.

What? The chancellor of a social democratic country thinks it is too socialist to bailout the financial system.

What about America? We just passed a $750 B bailout, are talking to nationalize health care, buying up mortgages and the Germans won't do that.

First I thought it is because the tax burden on the average German is already so high, that they can't really afford to pay more taxes, but I believe now that there is other reasons in play:

1. The German's are much more pessimistic and therefore more hesitant to move quickly. "First let's see what happens." The German's (and I believe many other Europeans too) have learned to live with crisis, war and economic lows. - The Americans have a tendency to panic - which makes the markets much more volatile.

2. A bailout would be considered what we call "buddy economy" (Freunderlwirtschaft) in Austria, which means that the money pump into the economy is again mainly for special interests, friends and people, who those politicians owe something.

3. The EU is not really much of a union, in that none of it's members really want to clean up the mess of another country. That's why the heads at the summit could only agree on doing something about the financial crisis, but not specifically what.

"Where action has to be taken, we will continue to do whatever is necessary to preserve the stability of the financial system," he said. "We agreed that we must do more to coordinate our response in times of crisis and the interest of stability."

4. The bailout proposal that was presented at the EU summit was too vague....
Too vague?.... doesn't seem to be a problem for our Reps to sign a 450 page emergency bill with tons of pork in it that nobody read.

America politicians have shown to be cowards (try to save their own a$$es), impatient (fired up by the MSM panic mode - like the Time magazine cover showing pictures of the great depression) and lazy .... people are lazy who don't read their loan papers and the socialists in this country saw this as their chance.

Now that we have started the disease of bailing out even John McCain said in tonight's debate that he would start buying up bad mortgages.

Ok so now we own Fannie Mae and Freddie Mac, AIG, bad assets and even some mortgages. Hey this is already a centralized government - no wonder that Merkel who actually understands free market principles doesn't like a bailout similar to the US one.

Even Alan Keyes calls the bailout 'socialistic'

Because German's just want to know where their EURO goes! Good For Them!

The Alien Patriot