The world recession that began in the U.S. is hitting Germany much harder than us, due to a collapse in world trade that has damaged an economy that Germans constantly refer to as “the World Export Champion.” But, Douglas Elliott explains, Germans feel much better about their economic situation than Americans do about ours.
U.S. Economy
Start-of-year price resets and US disinflation
Commentary
Comparing the Recessions in Germany and the United States
August 10, 2009