alex asunder

Germany’s Die Welt on the current American financial crisis
September 18, 2008, 5:23 pm
Filed under: freedom | Tags: ,

Spot. On.

“Greed is the theme that resonates with both the schadenfreude of the outsider and the remorse of the insider. The words of the apostle Paul are appropriate: ‘Money is the root of all evil.’ … Max Weber, the great German sociologist of the beginning of the 20th century, argued that American dynamism was the product of the Puritan ethic and the spirit of capitalism, together forming an accord for worldly success for God’s chosen people. First came the mortgage crisis in which first class banks mistook mountains of clouds for stable floors. Then came the banking crisis, which destroyed confidence. And in addition people were seduced by tricks made possible with computers. These are all trials and crises, but they will not spell the end of America’s distinctiveness.”

“The country will never convert to socialism, nor will it become a mega-state. Faced with similar circumstances, that might be the response of the pessimistic Europeans. America’s culture of optimism — which all too often gets on the Europeans’ nerves because they consider it to be naïve and superficial — also has the power to identify a setback as exactly that and not the end of the world.

Source: Spiegel Online International (“A Crisis, But Not The End of The World“) quoting Die Welt.

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