I'm from the very south in Germany, and we've had this old Banker saying "Always remember, if you are 20 bucks in debt, you first have to earn 20 bucks to literally have nothing". In my opinion this sums it up quite good. We're not only diligent and quality-oriented but far more cautious in the way we handle money
not only are we very diligent but we also care more about the "know why" then the "know how". You can copy the best but you'll never become the best, unless you know why they did it.
Now many doctors and gynecologists have come to you from Africa. You pay them benefits to sit and do nothing. Is that called good money handling? Greetings from Poland
If you want in-depth comparison of Germany versus USA on income, work, lifestyle as well as many other facets, The Black Forest Family is an exceptional channel you might find VERY informative.
What people don’t know is that German Culture influenced art and literature globally and also that Berlin was a Queer Haven and was a tolerant city in the Pre-Nazi Era.
So many popular music artists have been inspired by your culture. I can think of David Bowie, Depesche Mode, U2 when they needed inspiration they travelled to Berlin. Also Germany were one of the prime innovators of techno music in the 90's
@@australianjackaroo6660 They need to stick to! "Germans are very efficient and build exceptional machinery, and have castles and good wines too"! 😄 (Music is Celtic and Art is Italian! 🤣)
@@jenniferharrison8915 Germany is known as the Country of "Dichter und Denker" (poets and thinkers) and poetry is a form of art. Soo yeah Art is part of germany.
Comparing GDP to market capitalization is like comparing organically grown apples to pictures of pears. GDP is the combined value of all products and services produced within one year within the country. Market value is what shareholders think a company would be worth if sold. What the comparison really shows is that Germany could buy every year a company like Apple or Aramco and still have nearly half of its money made in the same year left. 3:55 By the way: BMW produces also in the US. 4:35 Big companies are not the backbone of the German economy (or any other successful economy). The small and medium sized, often family-owned companies are the ones which push ahead, introducing innovations, being flexible and alert and banking on the loyalty of their employees (which they earned by being loyal to them) - especially if they don't have to satisfy the short-term profit expectations of external shareholders. 9:02 Iron and coal? Not true. Iron and black coal are widely exploited, there is only one working iron mine. The last black coal mines were closed in 2018 after subsidies were banned (after 5 decades of subsidizing). Iron and coal were very important for the industrialization and played an important role before and after WW I and WW II (and for the war industry). They were also one of main reasons for the founding of the European Communities (which became the EU), but for Germany that ended in the 1970s. There is still lignite opencast mining however. 9:15 The German culture is not so much homogeneous compared to other European countries. The migration of refugees after WW II mixed the regional differences up - the allies often deliberately resettled e.g. Catholic refugees in Protestant regions and vice versa - but they are still present. The value of "hard work and thrift" was enhanced a bit by the experience of recovery after WW II, but it is still mostly a value of Protestant regions and partly of formerly Prussian-occupied regions. Good education and collective action on the other hand are values to find in most of the country. 9:33 West Germany got about 10% of the total Marshall plan aid, the far smaller Austria got 5%, while France got 20%, the UK nearly 25%, Italy nearly 11% and the Netherlands 7%. Most of the money was used to subsidize imports from the USA; the receiving countries had to give the same amount of money in their own currency into counterpart founds, which financed recovery investments in most countries (UK and Norway used much of it to reduce national debt instead). Germany and Austria got their shares later and had to repay them partly. So they did not subsidize investments directly, but subsidize loans for investments. The German Kreditanstalt für Wiederaufbau (KfW, credit institute for recovery) does still work with the return flows from those loans (as well as credit capital from later governmental programs). That concept worked in unison with the ordoliberal concept of "Soziale Marktwirtschaft" (social market economy) strengthening worker's rights as well as competition between enterprises (not necessarily companies).
thanks a lot for this profound explanation! I appreciated this very much! You put the Marshall Plan into perspective, as foreigners allways think that only Germany profited by it. The rest of course is very interesting too.
The biggest german car company that is often not mentioned because Mercedes and BMW are so popular is VW or Volkswagen. They have such a giant market worldwide, their cars are really popular in Europe, and lower spec cars like the VW Gol are sold in Brazil. Your uber drivers also bought a lot of VW Jettas over the years :)
Volkswagen are massive. They own lots of companies- VW, Audi, SKODA, SEAT, Lamborghini, Porsche, SCANIA and MAN trucks, Ducatti and have recently sold on Bugatti. I work for one of their companies in the UK, and have regular training. The courses are constantly evolving to keep us up with the latest technologies. They’re a great company to work for.
yeah volkswagen has an mind boogling size. volkswagen sells 11 million cars per year. Just alone to ship them in the hole world is an infrastucture nightmare. The ports its germany are massive and more than a douzent ships every single day are needed to ship them everywhere. what about electric cars is the trasition also a think at your workplace or do you procude still normal cars?
@@wolflarsen1900 the brand or brands I work for probably have the least electric cars at the minute within the group. I’ve seen more and more coming through though as new cars. And as far as I’m aware there isn’t as much maintenance Involved with electric cars. Obviously less moving components. And to be honest, I’ve hardly seen any come back with any major problems. But still, there’s quite a high demand for service and repair of ICE vehicles. I believe that there is more electric models in the pipeline though. There will also be a demand for EV technicians. And right now there probably isn’t enough, considering that by 2030 everything new that is sold will have to be electric. So the dealer franchises will eventually have to start sending us on the EV courses.
In Germany and Switzerland, you usually don't every fully pay back a mortgage. This is bc the mortgage-rates have historically been very low (between 0.75-4.5%), so it's better to invest the money rather than pay everything back (in stocks that pay a 5% dividend for example). I'm both German and Swiss but live in Switzerland.
The Marshall Plan had nearly zero impact on the German economy. The Marshall Plan allowed US companies to exports their goods to Germany on credit and the US government has been the guarantor for this exports. 85% of this Marshall Plan bolstered exports have been cigarettes wich had no impact on the German industry, only on the black market. The initial kick off of the German economic recovery has been the introduction of the German Deutsche Mark currency in 1948/49 and no Marshall Plan. The war reparations wich German had to pay also helped, because the old factory equipment was dismantled, and shiped to the war winner. The old existing equipemt had to be replaced by new one, the new one was than state of the art and could produce products much more efficient.
if it helps to put stuff into perspective geographically, Germany is roughly as big as Montana, but has 84 times more inhabitants than Montana. Imagine 1/4 of all US-citizens living in Montana.
The Marshall plan didnt actually materialized. It barely contributed to their growth. To a large extent, the main purpose of the Marshall Plan was to provide a veiled form of corporate welfare for American businesses through the practice of "tied aid"--transfers linked to an agreement that the money would be used to purchase U.S. products. Tied aid enriched many American businesses but was devastating to some European industries. For example, the export of American tobacco to Europe, paid for with Marshall Plan funds, caused Greek tobacco exports to fall to 2,500 tons in 1948 from over 17,000 tons in 1947. The industry never recovered. A similar crowding out of European business occurred in many other industries. George Mason University economist Tyler Cowen pointed out in his seminal study of the Marshall Plan, it was used by American advocates of a socialistic, planned economy to increase the degree of government intervention in European economies. It was essentially a matching plan: For every Marshall Plan dollar the U.S. gave to a European government, that government had to enlarge its own government sector by an equivalent amount by spending on "public works" or other government projects. Thus, the plan required European governments to siphon billions of dollars of desperately needed capital from the private sector, making it all the more difficult for Europe's economies to recover. This practice of tying foreign aid to the enlargement of government has been adopted by the World Bank over the years, with equally abysmal results.
9:50 Haha, there is a video called "The Rise and Fall and Rise and Fall and Rise of Germany" by brain4breakfast (which is very good btw). You might find it impressive and it kinda is but you could say we are a little used to this 😂 The build Germany up from zero thingy has happened since the beginning of times from when the romans attacked the germanic tribes to other wars, then the bubonic plague decimated almost half of our people. Some other wars. Then napoleon hit and so on.
Please react to "why the US sucks at everything" from the Gravel institute... this will make clear why the socialist policies working together with the capitalistic free market competition worked out so great for Germany and also why the average american has to incur much more debt than the average european.
Hello Joel. It did no harm to the hard working Germans that the Anglo-Saxon countries still saw the Germans like cousins and wanted their country rebuilt and stable to stop future conflicts. Still, they had to do the hard work, so credit where credit is due, if you get the no debt pun? In the Anglo-Saxon business model, quicker returns are expected and this is seen as coming from managing risk. The German political system relies on a multi party system, that has had issues. There were allegations of corruption back in the seventies, but reforms were made. Thereafter keeping stability, whilst keeping coalitions together in government has been the objective, but this can give rise to small parties, like the Greens, having a larger influence than their vote would suggest to those used to first past the post systems.
"Ok but what's the cost of living?" German-American dual citizen here. Lived 18 years in USA and 15 in Germany. If you look up buying power by country, it's effectively the same. I think Germany is slightly ahead of USA iirc, but it's a tiny difference not worth mentioning. For additional details, you can basically expect your income as an American to shrink to half, (aka if you're earning 100,000$ a year, you'd earn 50,000€ in Germany) but your expenses basically shrink to half as well. Both have value, as for example Germans have less worries about health insurance or health issues (why I'm here) as well as debt problems, but "you gotta spend money to make money" is true and gives some value to USA's earning power if you know how to spend and utilize your money wisely. Ideal setup is living in Germany but working for an American company and earning an American wage. *That's* the dream.
"Germany has access to iron and coal" That's ehm... surprising. I do not know about any iron mine in Germany. And most mines for hard coal are closed. Only lignite is left. In fact, Germany has very little natural resources.
In 2021, Germany's mine production of iron ore amounted to 530.4 thousand metric tons, a decline of less than one percent in comparison to the previous year.
@@kingofshit303 so 500 thousand metric tonnes... Interesting... sounds like a lot Then let it get into perspective... in 2015 Australia produced 817 million metric tonnes. So about 1600 times as much. en.m.wikipedia.org/wiki/Iron_ore So there might be a mine, but it's output is negligible on a global scale. But hey, a participating trophy is secured.
The people have actually the lowest savings and property in europe. If you calculate all taxes you arrive at about 65-75% tax rate. This includes like sales tax, incometax, alcohol tax, gas tax and so on. The income doesnt matter if you your government steals most of your money and rent and houses are insanely expensive. Even if you want to buy a house in a remote location half a million is about the minimum. In a big city good luck finding something below 1.5M. All the money goes to corporations and not to the people. And this is not a measure you should make saying germany is so rich. Yeah everything is clean, nice and shiny but thats because companies and the government are rich. Has nothing to do with the people.
the small countries like Luxembourg and Lichtenstein are mainly money laundering countries and Monaco is a Zero Tax state .. so no real work there - just money laundering and tax avoidance !
Economies change nearly monthly, it's fluid, they now need to create a new source of fuel in cooperation with their neighbours! Obviously, and traditionally, their manufacturing standards and machine production are the best in the world! It's very comforting that Asians cannot compete for the same markets! A balance of Importing and exporting is crucial, and certainly a common sense budget, very rare!! 👍🤔
The Source video really says next to nothing about the reasons for the success... Even the "Geography Now" video about Germany had more on that: Economy that combines a Capitalist Market with Socialist Securities, remember? As for not borrowing money, having lived in the US for many years, I can definitely see the differences, the obsession in the US about consumerism, US companies and constant advertising, that always suggests you are nothing of you do not buy things...
At 5:50 „yeah, but whats the cost of living?“. I‘m a german and living in berlin. For an apartment with about 100 m2 (sorry dont know your metrics) you‘ll easily pay around 1500€ In the center of the city. theres huge gentrification going on right now. Munich and other parts of germany are very simular. The economy is seen as very valueable, and the gap between poor and rich is increasing for a while now. also the greatest share of capital is gained by heritage.
Its so sad how much we could do with that money. We could have invested early in green energy, saving money over the long term. We could build a system that actually Supports refugees, giving them mental health Support, but what are we doing? Limiting help for the poor and digging for coal. Lets gooooo
10:00 bro not only that but if you look at how Germany was after WWl.. it was crushed due to the Treaty Of Versailles and then became insanely strong in a really short period of time then got crushed again after WWll and then became what it is today... Kind of like the phoenix lore..
Cost of Living? So: in Germany there is something called the minimum wage. This minimum wage is €12 an hour. A normal German earns about 1500 € net per month. A 40m² apartment without water, heating and electricity costs around €500. Electricity, water & heating cost at least 80€ - 250€ again. Due to the Ukraine war, food prices are also increasing in Germany. If you went shopping for €50 last year, you have to pay €120 for the same purchase today. And most people in Germany get the minimum wage. Oh, and don't forget the gas prices. At times they had increased by more than 60 cents. Now the normal liter price for normal petrol is €1.80. In addition, most people do not work in their city and still have to drive 10-50km to work every day. Many small companies and especially family businesses had to close because of the corona crisis and the war that followed. They just went broke and our government kept stuffing money down the throats of big business and the pharmaceutical industry. It was also revealed that our government made so-called "mask deals" behind closed doors during the Corona pandemic, from which they made profits as private individuals because people had to buy & wear the masks. And then there is the annual inflation of 7%. In Germany you are entitled to an annual salary increase of 3%. So inflation eventually caught up with you and you were making less than you were spending. Yes, that's how it is in Germany to live as a normal citizen.
Not too many guns in the hands of lunatic people or teens.Our billionaires are the poorest people in the world. We also produce other products of interest.
8:03 In India, loans have been historically exploitative with respect to lenders especially in Colonial Times but now there are more ‘easy access’ loans that have shady business practices.
Yes, China and India are making outrageous loans with impossible conditions and entering into mutual agreements that end in heartache and huge losses to the unwary signatories and to various smaller countries! Indian bankruptcy laws are very cruel too! 🤨😠
If I'd have guessed which is the most wealthy country in Europe, my guess would have been Norway. They don't have too many citizens, I think 5 Million, and since the country had a lot of money from selling sea oil, therefore has very generous old age benefits.
The cost of living is pretty high but its worth it! The point is education that is free of charge, an universal and public health insurance system and a pension system for the workers. The german system includes also paid and regulated vacations, a right to form unions and paid sick leave also payments for unimployed people. Its not perfect but it exists and it is much better than in the land of the free, where you are only free to die!
As it pointed out in the video, Germany, adopting the Euro, gave it a weaker currency which meant it was cheaper to produce manufactured goods than if it had a stronger currency. Therefore, about 30% of its GDP is from manufacturing compared with about 20% for the U.K. This is one reason why the U.K. struggles to be competitive when it comes to manufacturing and is why I support a weaker £ to align more with the € and the $.
@@Michael_from_EU_Germany I remember the 1970s. British industry was only kept going by nationalisation and nobody wanted to buy the products. Nobody would have invested in huge chunks of it, when you could make things elsewhere, with no unions, no health and safety and wages a fraction of the west. The company that I worked for moved production to Germany, but the UK Health and Safety Executive would have had something to say about conditions for Turkish workers I saw photos of there and equality legislation would have stopped work to make sure they were not exploited.
@@improvesheffield4824 This video below is from the seventies. UK manufacturing industry was outdated and would not have survived as it was. Being from Yorkshire, the 1980s were not great here. Korean Car Industry ] Hyundai Pony ] George Turnball ] Drive In ] 1977 ] Thames TV. I tried to copy a link in TH-cam, but it has not worked right, a bit like British Leyland, which was a pity. Even as Rover, with German owners and a beautiful car design, it just was not trusted. See also Car Thrift Auto channel about the Princess, the car I learnt on. It should have been a world beater, if only BL got their act together.
@@alansmithee8831 yes, that also. The reasons are multi-faceted but, as individuals, we tend to focus on the one facet that aligns with our political tribalism; ie, it was all Thatcher's fault, or it was all the fault of shoddy workmanship brought about by years of Nationalisation and union domination. The fact of the matter is that both these things, and more, played a part, including the high value of the £ for most of the last 40 years helping to keep a lid on any serious manufacturing recovery that might have taken place. .
@@improvesheffield4824 Back in the 1980s, I would watch BBC Question Time and Yes Minister with the first person I met at university. We also saw Back to the Future at the Cinema. My pal was Alok Sharma. Last time I saw him he was on TV next to the King and the PM, about to go to the latest COP conference. As I have commented before, I wonder what I would say to our younger selves if I had that De Lorean? Funny things went on in the 1970s. It was rumoured there was a plot for a coup, with Lord Mountbatten and Airey Neave (spot the Sheffield reference) involved. Airey was said to be the power behind the throne for the conservatives. Both were killed by the IRA. It was something for conspiracy theories, but it seemed to me to be hinted at in the UK version of House of Cards. I was reminded of this when watching the film 71 recently. There were real scandals in Germany to do with political corruption back then and they amended how politics and politicians were funded, if I remember correctly.
Look @ an Germany comedyan. "Volker Pispers" it is with english subtitels. it is loooong one but you can react in 3 or 4 parts. then you see the german humor :-)
Australia devalued their currency which makes it’s exports cheaper to other nations. WWII Helped Germany re start it’s economy with the financial assistance of other countries. European and US didn’t want a situation where Germany was backed into a corner and and came out fighting, the result of WWI AND WWII
There are a few things, that the video didn't mention. One thing is, most German companies are highly specialised. They produce one good at high quality and look to make that better. A company called Karl Zeis in Jena specialises on lenses and is the only company in the world who can produce lenses good enough for the lasers needed to print transistors on microchips. So basically there wouldn't be smartphones without that. Or rathere they would be a lot bigger and heavier. Another thing is, most midrange ans small companies are family owned and planing for the long run. They spend conservative (as Germans tend to spend conservative anyhow) and calculate how a decision will effect them long term. So they don't take risks stock companies may take to please their board.
My father has a saying that he adoppet from his Father : if you cant pay it in Cash dont buy it (excepting Houses and ground) We did get ouer deserved beatting in WW2. After that we have realized goods over Politics for the most part
Regarding debt... In fact, the US credit card bubble is the next big concern for the global economy, significantly larger than the 2008 housing bubble. So many Americans are indebted on multiple credit cards at the same time, so much that their incomes will never really cover it . If this bubble ever bursts, the impact will be far more dramatic than that of 2008. Then banks will simply no longer be able to be saved. It is therefore of great concern to everyone how careless the US is in dealing with it. Greetings from Germany. 🤔
@@timothyreel716 Victim? So you force people to have three, four, five credit cards and expand their consumption far beyond their living conditions? Oddly enough, this is not the case here in Germany or in the rest of Europe. Rather, it is also one of the reasons why many Germans still hold on to cash. This gives you far more control and a sense of how much you are actually spending. So no, no one who is an adult and is deemed to have full legal capacity can honestly play the victim role here. But from a European point of view, actually from the whole world point of view, this also applies to hot coffee that one stupidly spills over one's own pants. Personal responsibility is the buzzword here, only in the USA can you sue the restaurant for your own incompetence. ☝🧐
@@DerJarl1024 I meant in a more broader sense of the word" victim" but yes, the government is keen on dumbing down and brainwashing people to control them. I'm not one of those people, but there's a lot of gullible people who listen to the consumerism chatter in our society, and yes, they should take responsibility for their own actions, but at the same time government, media influence constantly being a huge issue, and the ironic thing is a lot of people from other countries believe the same lies that our government/media tells the our own people, so I don't think it's fair for you or anyone else to judge based on that, whether or not you or any of them have been here or not! You obviously don't understand the fact that globalists are running things behind the scenes, and they are purposely trying to bring society down for their New World Order, that's America's main problem and the world's!!
@@timothyreel716 Nobody forces you the people to go into debt for doing shopping. Are you aware that you pay interest every time you purchase something on credit card? And, on top of that, the credit card company takes its cut in some way.
9:46 'impressive modern feats' no. you wouldn't be that surprised if you knew European/German history. yes, the country was in rubbles after the utter destruction during WW2 *but* the population was among the best educated in the world. [Imperial] Germany overtook the UK in the 1890s (maybe even earlier) economically and was the richest country in Europe back then already. the world wars put a dent into all European economies and turned Britain into a large debtor internationally. Germany had a broad industrial base before WW1, its educational system was top notch since the late 19th century (think 'vocational training' and Nobel laureates) - all was already long set up for success. if you take a closer look, large parts of [western] Germany were always among of the richest regions of Europe since the middle ages and earlier.
Funny to See my Hometown in the thumbnail if you dont know its called Ludwigsburg an it isnt a very well known town but maybe you can give it a try and react to that. :)
tbf the great reset after WWII helped a lot. other countries are struggeling with keeping old things running but when you have to build up everything new, you have all the new tech to help you grow.
but now 7 months after this video was publisht, the #4 richest Country in the World (Germany) is the first European Country in Recession , thanks to the Government.
...and we have a good education system. Jobs are learned here, with state qualifications. An electrician is an electrician and was not a bricklayer or a shoe salesman before. The level of work done is very, very high. I often missed that in the USA.
Ich denke wichtig an unserem Schulsystem zu verstehen ist das im Prinzip bzw. in der Theorie JEDER die gleichen Möglichkeiten hat, passend zu seinen Fähigkeiten zur Schule zu gehen. Also können Kinder die sehr intelligent und willig sind neues zu lernen, können die höeren Schulzweige wie Realschule oder das Gymnasium besuchen. Es kostet nichts ( abgesehen von möglicherweise etwas teureres Schulmaterial ) sehr einkommensschwache Familien können sogar noch Zuschuss also Unterstützung für Schulbücher oder ähnliches erhalten. Das macht dieses Schulsystem "produktiv", jeder wird nach seinen Fähigkeiten gefördert/unterrichtet. Ja in den letzten 10-15 Jahren wurde leider sehr viel vernachlässigt was "neue Medien" angeht und ich hoffe das wir da wieder aufholen können. .......... I think it's important to understand about our school system that in principle or theory EVERYONE has the same opportunity to go to school that suits their abilities. So children who are very intelligent and willing to learn new things can attend higher school levels such as secondary school or high school. It doesn't cost anything (apart from possibly slightly more expensive school materials). Very low-income families can even receive subsidies, i.e. support for school books or similar. This makes this school system “productive”; everyone is supported/taught according to their abilities. Yes, unfortunately a lot has been neglected in the last 10-15 years when it comes to “new media” and I hope that we can catch up again.
Luxemburg belegt mit geschätzt rund 136.701 US-Dollar Platz 1 der europäischen Länder mit dem höchsten BIP pro Kopf im Jahr 2021. Die Statistik zeigt die 10 Länder Europas mit dem höchsten Bruttoinlandsprodukt (BIP) pro Kopf in US-Dollar im Jahr 2021. With an estimated around 136,701 US dollars, Luxembourg ranks first among the European countries with the highest GDP per capita in 2021. The statistic shows the 10 countries in Europe with the highest gross domestic product (GDP) per capita in US dollars in 2021.
Remember 1 more thing about the sekund world war. Germany was not governed to pay for the damage, that they have done to all the other european countrys. Think about all the lost art effects and all the people who had lost everything. All the jydes, who came back and found that there house was ocupied by other people, and all that. If they had to pay for rebuilding that, and for all the damage, they would not have bin so rich to day.
6:12 cost of living is really different in east Germany at the country I'll can buy a house after 5 years as a post man in the most expansive city munic you can't afford to rent a flat with the same money. But overall good and other products are much cheaper than in the USA what I have heard.
Well good luck buying a house right now lol. I agree though, we spend less money on food and esp. medication. More money on any kind of energy and fuel. When it comes to rents you will definitely find worse than Munich in the US (NY, LV etc.), but in the Midwest you can also find very cheap places.
1:57 A side note: People in The Netherlands are said to work less, but that is not entirely true. We had a sort of forced temporary/partial work contract madness in the past 15-20 years, significantly affecting the average work hours people could get, not by choice. Lately, this is (thankfully) beginning to shift to more long-term contracts with decent hours. There are bills suggested to consider a 36-hour workweek as a fulltime week (compared to the now 40 hours), but basically our work weeks are the same as in Germany. Also, most of northwestern Europe has some interesting powerhouses: The Irish have the highest GDP per capita, and the GDP of The Netherlands, Belgium and Luxembourg combined (or the Benelux countries) is about as big as that of Russia (pre-war numbers). Also, despite having only 17 million inhabitants, The Netherlands has a GDP comparable to that of Turkey, which is around 5-6 times as big (both area and people-wise). The EU as a whole has a GDP of about 17 trillion, which is somewhat comparable to that of the US.
In Germany, we have a song with the verse: "Jetzt wird wieder in die Hände gespuckt, wir steigern das Bruttosozialprodukt." It means like: „Let‘s go, we let the GDP grow.“ 💪 I think that shows quite well how we Germans are. 😂
@@hevog The song is a direct and satirical reaction to Helmut Kohl's election as Federal Chancellor. Kohl postulated a "spiritual and moral change" (whatever that meant) and a reversal of the welfare state. The problem back then was relatively high unemployment, triggered by the second oil price shock in 1979. His election promise to end mass unemployment through his policies was never fulfilled. Instead, I had to endure 16 years of failed politics without parole...
car export from Germany is falling rapidly because of the EV wave in the rest of the world, the German economist complain about recession of their economy.
Hey bro, I can explain to you how our politcis work. Just get in touch. To answer your question about the costs of lifing: It depends but most people could get over the moth with around 1500 €. But there are a ton of ifs and elses. The old values that made germany what it is today are fading. Sad to say but the ship could sink. One thing about the recovery after ww2: There is the term: "Trümmerfrauen" that means women who basicly worked as construction worker were moving tons over tons of destroyed buildings. And one very sad thing: Germany also makes a ton of money by selling weapons. Im not 100 % sure but we are the 2nd largest supplier for weapons in the world.
Joel, one reason for the economic miracle: quality, quality and again quality of the products. My washing machine from MIELE works now for more than 26 years! And Joel please consider, that it is not the large companies, but the small and medium-sized family-owned businesses that form the backbone of Germany's economy (even Volkswagen is family owned by Riech and Porsche family) - and the basis of German professional education and training - the dual system. This means the apprentice works in a company and is reached by his senior colleagues as well as by the teachers of the professional school the apprentice has to join simultaneously. So he or she gets the best of theory and practice. At the end she or he has to pass an theoretical and practical examination at the Chamber of Commerce or Chamber of Crafts and he or she gets and well appreciated document.
What he said about "Schuld" and "guilt" is missleading because the word for "guilt" is a variation of dept, meaning if you are guilty, you owe something. In the history of law, guilt came from pre roman times, where you, if you killed somebody for example, the family clan of the victim had to be compensated. This was the case with everything and as I know it was similar to sumerian times, so if you harmed somebody in a way so he couldn't work any more for example, you've had to do his work and so on. Pretty sure this was the meaning of law in the bible when it is said an eye for an eye and so on.
japan is only at place 3 because they have over 100 million people. Actually germans work 25% more productive than japanese people. they work 10 hours to do the work of 8 in germany. And they need to do it, they dont get money for overtime while in germany every overtime hour has to be paid or has to become an additional free time hour. Germany still grows (mainly because of immigration.. at least this time we get ukrainians not syrian people, ukrainian assimilate fast, learn our language and they also "work". thats fine if a million ukrainians decide to stay here, thats better than the 2 million syrian refugees we toke and which hardly deny to integrate in our society) i cant await that japan looses its totally not earned place 3
I'm from Germany and I can say with 100% confidence say that we are by far not the richest country in europe because GDP means nothing if you didn't own anything you produce! We have the lowest ownership rate in europe, inflation is through the roof, we have the highest electricity prices in the world, have to buy expensive energy from our neighbours and the sanctions against russia ruined our gas-based industry beyond repair. Germany also have to finance 23% of the EU-household, sending 700 million to china for (development Assistance 🤡) and pay 22 billion a year for mass migration that threatens national security thanks to green politics.
We might have a good economy here and everything is quite stable but what they didn't show was how infrastructure like schools look like. Since education is free it also affects the quality of it (What i mean here is mainly the equipment we have in schools and the general schoolsystem and buildings which are very old and in a bad state), the same would go for healthcare too I suppose. Everything is just very old by now and a really awful bureaucracy makes it impossible to adapt fast enough. I feel like germany is in a very odd state of being in between with many things which also makes it impossible to say what the future might hold.
Im based in NRW and I never saw bad school infrastructures here. All were saniert in my town so far.. healthcare is still good so far compred to other countries. “Sometimes we need to experience to loose some things to realize how fortunate once people are” goes like this line…
@@oyetify well funnily enough i’m also based in nrw and i can of course only talk about my experience. And yes you’re right we can be very grateful for what we got here since it is mostly better than in other countries but it is in no way reflecting the fact that Germany is the biggest economy in Europe and if compared with other for example Scandinavian countries that have a weaker economy they are way more modernized and have better infrastructure than we do and actually excel in almost every area.
I totally agree on the education part, we definitely need more money spend on it and it’s in need of a reformation. We are actually one of the countries in Europe which spends the least of its gdp on education. The whole difficulty around missing teachers could have easily been foreseen as it takes 6-7 years to fully train a teacher. Oh and guess what it takes 6-7 years until children enter the school system. The federalisation of our school system itself is very outdated, but it’s hard to change if one veto of one of the states can hold nationwide reforms back. Germany used to be very modern education wise for centuries and other nations copied parts of it, but we are the ones still stuck in these old systems. We need new systems and not some short term “Aktionismus” (which basically burns money) where IPads get bought for schools,just for them to notice that they don’t even have Wi-Fi installed. Education has to become a bigger factor in elections and society as a whole, as it is also a very big part and the most efficient investment into our nations and children’s future.
So China is the “second richest country in the world”? Hardly, wealth has to be judged by GDP per capita, the total GDP does not really say much about how wealthy people are. For example Nigeria got Aamodt as high GDP as Norway. Norway is regarded as very rich but the average Nigerian is dirt poor. The average German is hardly that rich either, just average in Europe.
the winners: 6000t of gold, all factories desmantled to the last screw, all patents gone, including rocket science and their inventors. After that, the rise of the american economy! And by that I'm not talking about reparation costs paid!
GDP is one thing - and i wont complain about the german welfare state (even though it was more generous 20 years ago). But even though germany is wealthy as country many germans dont have savings or wealth - for example italians have a much higher per capita wealth (owning more real estate and so on). Aswell many german still rent- keeps you flexible but aswell doesnt help to generate wealth - and many germans dont invest into stocks and just have money in 0% savings accounts. A good thing in germany is that many global producers are here and the market is competetive so the living prices in supermarkets are much cheaper even compared to countries were the income is lower (the the products dont have to be importet - or a just importet by companies who own the foreign producers). The somewhat low salaries have to be put a bit into perspective - because of taxes, social security, healthcare, pension funds and so on. So compared to some countries the result will be more favorable for germans and to others not. A lot boils down, as you mentioned to cost of living. But yeah education is free and if you cant afford to support your children in college they get monthly subsidies for cost of living (that has to be paid back 50% after college - if you can afford to). And you could live nearly indefinetly of unmployment and welfare (maybe if your industy died - its frowned upon but generally possible). While in other countries you may only get a few years of unemployment benefits. I really like the some possibilities of the healthcare system - as its a federal country - if i had some difficult disease - i could go to a hospital anywhere in germany, maybe there is a hospital specialized in that field, all with my normal health insurance. And the doctors usually do whats good for the patient and dont prioritize if its economically viable so you may get that fake-hip at 80 or they dont stand in your way if your want chemo or targeted therapies in late stage cancer-so health issues dont bankrupt you.
9:47 it's not even the hole story the hole story is Germany is late to the industrialisation starts it's dominates GB a few years later WW1 starts Germany loses all infrastructure gets demolished threw that Hitler rised to power rebuild all the infrastructure and more started WW2 and the think repeats again so Germany rebuild the hole infrastructure 3 times in less than 150 years (to be fair that was probably one of the reasons it is so good because the factorys where new and modern for the time while most other countries used old production fertilitys because they didn't want to rebuild them.
I don't know if there's a video about it. But a political system would be great, I only knew recently about our political system to be honest, but a lot of newer democracries in europe have it and i think it's a good think. Multiple choice voting with ranked choices, and some states in America are also starting to adopt that system.
@MoreJps what age were in 2008? Like 5 or something? I am impressed that you know it. You seem to be pretty smart kid and with a great mindset „über den Tellerrand schauen“ equivalent to to see beyond one’s own nose. 😏 love your reaction videos! 👍🏼👍🏼
Actually, germany is considered as a ressource poor country (like japan). We do have sources of various materials, but the are too expensive to mine. Also germany is too dense populated to make large mining operation happen. The largest deposits are brown coal and salt. Brown coal mining will be stopped, due to climate change and shifting to ecologic power production. But for this, germany is heavily dependand on other counties ressources.
the Marshall plan in todays worth is about 1.5 Billion US in the years 1948 - 1952 ..thank you America !!!! ( OK you needed us to fight your former ally - the Soviet Union !)
The iron and coal (especially iron!) thing is plain wrong. The little that is left is way too expensive to dig out. Shutting down the mines wasn't a Thatcher-nuke but it was donw anyway.
I dont believe american political system is bad. The problem is more complex i think. The systems in itself are pretty similar in Germany and the US. What is very different however, is how many topics are handled and especially how people are perceiving them. Just some fun facts, there are around 50 political parties in the US, yet only two get votes. In recent years the others dont came to 1% together. So there is no real diversity in perspectives in the pool. Then you have the candidates, there are 360mio people in total and half of the voters somehow decided in 2016 to vote for guy that promised to build a wall to solve problems? Meh Something is off. I would start looking at culture in media. Because media is the link between people and politics. How are they reporting, what is focussed on, who gets screen time? That tells a lot what people get to see and how their perception of the world might look like. An interesting question to me is, what is driving people to the decision they make at the polls? I observed the 2020 elections, and here is what one person said about one of the democratic candidates: "He has no chance to win, im not wasting my vote on him" Sure, how should one have a chance if he doesnt get one? It doesnt fall out of the sky...sigh Unfortunately i cant recommend a good video about this topic, and that is sort of part of the issue. Because, media, small or big, they critizise each other but never themselfes. Whats left is a polarized world of competition that, surprise, mirrors the state of american society somehow pretty well. And in Germany we are drifting slowly but surely in a similar direction. But there is this public funded television that is obligated to stay neutral, and despite critiques some might have, that still works relatively well especially during elections, where rules are in place so the one with the most money cant just buy all the screen time.
I'm from the very south in Germany, and we've had this old Banker saying "Always remember, if you are 20 bucks in debt, you first have to earn 20 bucks to literally have nothing". In my opinion this sums it up quite good. We're not only diligent and quality-oriented but far more cautious in the way we handle money
not only are we very diligent but we also care more about the "know why" then the "know how". You can copy the best but you'll never become the best, unless you know why they did it.
Now many doctors and gynecologists have come to you from Africa. You pay them benefits to sit and do nothing. Is that called good money handling? Greetings from Poland
In Germany we say: You borrow Money, which you can't afford to buy Things, which you don't need to impress people which you don't Like.
If you want in-depth comparison of Germany versus USA on income, work, lifestyle as well as many other facets, The Black Forest Family is an exceptional channel you might find VERY informative.
great channel and a wonderful family
Definitely recommended! Very well researched and professionally mede.
I love Ashton for her stunning good work, Oops, Dr. Ashton of course.
I prefer @HayleyAlexis to be honest. - She has a more critical view on things, and I value her content very much for this.
A good and very informative channel that now tackles and deals with many questions scientifically.
What people don’t know is that German Culture influenced art and literature globally and also that Berlin was a Queer Haven and was a tolerant city in the Pre-Nazi Era.
It now appears to be a Russia tolerant society!!
So many popular music artists have been inspired by your culture. I can think of David Bowie, Depesche Mode, U2 when they needed inspiration they travelled to Berlin. Also Germany were one of the prime innovators of techno music in the 90's
I think you've misinterpreted history
@@australianjackaroo6660 They need to stick to! "Germans are very efficient and build exceptional machinery, and have castles and good wines too"! 😄 (Music is Celtic and Art is Italian! 🤣)
@@jenniferharrison8915 Germany is known as the Country of "Dichter und Denker" (poets and thinkers) and poetry is a form of art. Soo yeah Art is part of germany.
And please take into account that Germany has the size of Montana.
Comparing GDP to market capitalization is like comparing organically grown apples to pictures of pears. GDP is the combined value of all products and services produced within one year within the country. Market value is what shareholders think a company would be worth if sold. What the comparison really shows is that Germany could buy every year a company like Apple or Aramco and still have nearly half of its money made in the same year left.
3:55 By the way: BMW produces also in the US.
4:35 Big companies are not the backbone of the German economy (or any other successful economy). The small and medium sized, often family-owned companies are the ones which push ahead, introducing innovations, being flexible and alert and banking on the loyalty of their employees (which they earned by being loyal to them) - especially if they don't have to satisfy the short-term profit expectations of external shareholders.
9:02 Iron and coal? Not true. Iron and black coal are widely exploited, there is only one working iron mine. The last black coal mines were closed in 2018 after subsidies were banned (after 5 decades of subsidizing). Iron and coal were very important for the industrialization and played an important role before and after WW I and WW II (and for the war industry). They were also one of main reasons for the founding of the European Communities (which became the EU), but for Germany that ended in the 1970s. There is still lignite opencast mining however.
9:15 The German culture is not so much homogeneous compared to other European countries. The migration of refugees after WW II mixed the regional differences up - the allies often deliberately resettled e.g. Catholic refugees in Protestant regions and vice versa - but they are still present. The value of "hard work and thrift" was enhanced a bit by the experience of recovery after WW II, but it is still mostly a value of Protestant regions and partly of formerly Prussian-occupied regions. Good education and collective action on the other hand are values to find in most of the country.
9:33 West Germany got about 10% of the total Marshall plan aid, the far smaller Austria got 5%, while France got 20%, the UK nearly 25%, Italy nearly 11% and the Netherlands 7%. Most of the money was used to subsidize imports from the USA; the receiving countries had to give the same amount of money in their own currency into counterpart founds, which financed recovery investments in most countries (UK and Norway used much of it to reduce national debt instead). Germany and Austria got their shares later and had to repay them partly. So they did not subsidize investments directly, but subsidize loans for investments. The German Kreditanstalt für Wiederaufbau (KfW, credit institute for recovery) does still work with the return flows from those loans (as well as credit capital from later governmental programs). That concept worked in unison with the ordoliberal concept of "Soziale Marktwirtschaft" (social market economy) strengthening worker's rights as well as competition between enterprises (not necessarily companies).
thanks a lot for this profound explanation! I appreciated this very much! You put the Marshall Plan into perspective, as foreigners allways think that only Germany profited by it. The rest of course is very interesting too.
The biggest german car company that is often not mentioned because Mercedes and BMW are so popular is VW or Volkswagen. They have such a giant market worldwide, their cars are really popular in Europe, and lower spec cars like the VW Gol are sold in Brazil. Your uber drivers also bought a lot of VW Jettas over the years :)
They also own RollsRoyce which means that they are also a big Factor when it comes to Commercial Airplanes
@@Blaubarschbube01 I thought Rolls Royce belongs to BMW?
@@LexusLFA554 oh fuck yeah you are right, thats emberrasing haha
Volkswagen are massive. They own lots of companies- VW, Audi, SKODA, SEAT, Lamborghini, Porsche, SCANIA and MAN trucks, Ducatti and have recently sold on Bugatti. I work for one of their companies in the UK, and have regular training. The courses are constantly evolving to keep us up with the latest technologies. They’re a great company to work for.
yeah volkswagen has an mind boogling size. volkswagen sells 11 million cars per year. Just alone to ship them in the hole world is an infrastucture nightmare. The ports its germany are massive and more than a douzent ships every single day are needed to ship them everywhere. what about electric cars is the trasition also a think at your workplace or do you procude still normal cars?
@@wolflarsen1900 the brand or brands I work for probably have the least electric cars at the minute within the group. I’ve seen more and more coming through though as new cars. And as far as I’m aware there isn’t as much maintenance Involved with electric cars. Obviously less moving components. And to be honest, I’ve hardly seen any come back with any major problems. But still, there’s quite a high demand for service and repair of ICE vehicles. I believe that there is more electric models in the pipeline though. There will also be a demand for EV technicians. And right now there probably isn’t enough, considering that by 2030 everything new that is sold will have to be electric. So the dealer franchises will eventually have to start sending us on the EV courses.
+ Bentley
@@prosee7770 oh yeah, how could I forget haha.
the only money I have ever 'borrowed' is when buying a house - it's all paid back now. I only buy things I can afford or REALLY need.
In Germany and Switzerland, you usually don't every fully pay back a mortgage. This is bc the mortgage-rates have historically been very low (between 0.75-4.5%), so it's better to invest the money rather than pay everything back (in stocks that pay a 5% dividend for example). I'm both German and Swiss but live in Switzerland.
The Marshall Plan had nearly zero impact on the German economy. The Marshall Plan allowed US companies to exports their goods to Germany on credit and the US government has been the guarantor for this exports. 85% of this Marshall Plan bolstered exports have been cigarettes wich had no impact on the German industry, only on the black market. The initial kick off of the German economic recovery has been the introduction of the German Deutsche Mark currency in 1948/49 and no Marshall Plan. The war reparations wich German had to pay also helped, because the old factory equipment was dismantled, and shiped to the war winner. The old existing equipemt had to be replaced by new one, the new one was than state of the art and could produce products much more efficient.
I'm from Aus and been living in Germany for a year....loving your videos on both! Onya mate!!
if it helps to put stuff into perspective geographically, Germany is roughly as big as Montana, but has 84 times more inhabitants than Montana. Imagine 1/4 of all US-citizens living in Montana.
The Marshall plan didnt actually materialized. It barely contributed to their growth. To a large extent, the main purpose of the Marshall Plan was to provide a veiled form of corporate welfare for American businesses through the practice of "tied aid"--transfers linked to an agreement that the money would be used to purchase U.S. products. Tied aid enriched many American businesses but was devastating to some European industries. For example, the export of American tobacco to Europe, paid for with Marshall Plan funds, caused Greek tobacco exports to fall to 2,500 tons in 1948 from over 17,000 tons in 1947. The industry never recovered. A similar crowding out of European business occurred in many other industries.
George Mason University economist Tyler Cowen pointed out in his seminal study of the Marshall Plan, it was used by American advocates of a socialistic, planned economy to increase the degree of government intervention in European economies. It was essentially a matching plan: For every Marshall Plan dollar the U.S. gave to a European government, that government had to enlarge its own government sector by an equivalent amount by spending on "public works" or other government projects. Thus, the plan required European governments to siphon billions of dollars of desperately needed capital from the private sector, making it all the more difficult for Europe's economies to recover. This practice of tying foreign aid to the enlargement of government has been adopted by the World Bank over the years, with equally abysmal results.
9:50 Haha, there is a video called "The Rise and Fall and Rise and Fall and Rise of Germany" by brain4breakfast (which is very good btw).
You might find it impressive and it kinda is but you could say we are a little used to this 😂
The build Germany up from zero thingy has happened since the beginning of times from when the romans attacked the germanic tribes to other wars, then the bubonic plague decimated almost half of our people. Some other wars. Then napoleon hit and so on.
Please react to "why the US sucks at everything" from the Gravel institute... this will make clear why the socialist policies working together with the capitalistic free market competition worked out so great for Germany and also why the average american has to incur much more debt than the average european.
As an economic student, I just die in cringe for so many mistakes. That bro don't rly understand how wealth is contributed in a society do he?
Hello Joel. It did no harm to the hard working Germans that the Anglo-Saxon countries still saw the Germans like cousins and wanted their country rebuilt and stable to stop future conflicts. Still, they had to do the hard work, so credit where credit is due, if you get the no debt pun? In the Anglo-Saxon business model, quicker returns are expected and this is seen as coming from managing risk.
The German political system relies on a multi party system, that has had issues. There were allegations of corruption back in the seventies, but reforms were made. Thereafter keeping stability, whilst keeping coalitions together in government has been the objective, but this can give rise to small parties, like the Greens, having a larger influence than their vote would suggest to those used to first past the post systems.
"Ok but what's the cost of living?"
German-American dual citizen here. Lived 18 years in USA and 15 in Germany.
If you look up buying power by country, it's effectively the same. I think Germany is slightly ahead of USA iirc, but it's a tiny difference not worth mentioning.
For additional details, you can basically expect your income as an American to shrink to half, (aka if you're earning 100,000$ a year, you'd earn 50,000€ in Germany) but your expenses basically shrink to half as well. Both have value, as for example Germans have less worries about health insurance or health issues (why I'm here) as well as debt problems, but "you gotta spend money to make money" is true and gives some value to USA's earning power if you know how to spend and utilize your money wisely.
Ideal setup is living in Germany but working for an American company and earning an American wage. *That's* the dream.
"Germany has access to iron and coal" That's ehm... surprising. I do not know about any iron mine in Germany. And most mines for hard coal are closed. Only lignite is left.
In fact, Germany has very little natural resources.
In 2021, Germany's mine production of iron ore amounted to 530.4 thousand metric tons, a decline of less than one percent in comparison to the previous year.
@@kingofshit303 so 500 thousand metric tonnes... Interesting... sounds like a lot Then let it get into perspective... in 2015 Australia produced 817 million metric tonnes. So about 1600 times as much.
en.m.wikipedia.org/wiki/Iron_ore
So there might be a mine, but it's output is negligible on a global scale.
But hey, a participating trophy is secured.
The people have actually the lowest savings and property in europe. If you calculate all taxes you arrive at about 65-75% tax rate. This includes like sales tax, incometax, alcohol tax, gas tax and so on. The income doesnt matter if you your government steals most of your money and rent and houses are insanely expensive. Even if you want to buy a house in a remote location half a million is about the minimum. In a big city good luck finding something below 1.5M. All the money goes to corporations and not to the people. And this is not a measure you should make saying germany is so rich. Yeah everything is clean, nice and shiny but thats because companies and the government are rich. Has nothing to do with the people.
the small countries like Luxembourg and Lichtenstein are mainly money laundering countries and Monaco is a Zero Tax state .. so no real work there - just money laundering and tax avoidance !
Gdp is also weird. It tells you how big the pie is. Not how the pie is distributed among the population
It would look bad if it would. GDP per capita already kicks Germany out of the top 10
Economies change nearly monthly, it's fluid, they now need to create a new source of fuel in cooperation with their neighbours! Obviously, and traditionally, their manufacturing standards and machine production are the best in the world! It's very comforting that Asians cannot compete for the same markets! A balance of Importing and exporting is crucial, and certainly a common sense budget, very rare!! 👍🤔
The Source video really says next to nothing about the reasons for the success...
Even the "Geography Now" video about Germany had more on that: Economy that combines a Capitalist Market with Socialist Securities, remember?
As for not borrowing money, having lived in the US for many years, I can definitely see the differences, the obsession in the US about consumerism, US companies and constant advertising, that always suggests you are nothing of you do not buy things...
thank you and greetings from germany.
Yes Joel,,,,and we all paid for it,,,, with love from the UK 🇬🇧
Thanks again from Germany (and for us getting rid of that Austrian guy)! 🥳
Hey, maybe the nation that invaded the most other countries in the world wants to talk about reparations
@@headhunter1945 reparations are a joke. Life isnt fair and if you are weak you deserve everything that comes your way
At 5:50 „yeah, but whats the cost of living?“. I‘m a german and living in berlin. For an apartment with about 100 m2 (sorry dont know your metrics) you‘ll easily pay around 1500€ In the center of the city. theres huge gentrification going on right now. Munich and other parts of germany are very simular. The economy is seen as very valueable, and the gap between poor and rich is increasing for a while now. also the greatest share of capital is gained by heritage.
I didnt know Germany was the richest country in Europe either, must have missed something when I got up this morning🤔🤔🤔
Which country did you expect would it be instead?
Its so sad how much we could do with that money. We could have invested early in green energy, saving money over the long term. We could build a system that actually Supports refugees, giving them mental health Support, but what are we doing? Limiting help for the poor and digging for coal. Lets gooooo
10:00 bro not only that but if you look at how Germany was after WWl.. it was crushed due to the Treaty Of Versailles and then became insanely strong in a really short period of time then got crushed again after WWll and then became what it is today... Kind of like the phoenix lore..
Cost of Living?
So: in Germany there is something called the minimum wage. This minimum wage is €12 an hour. A normal German earns about 1500 € net per month. A 40m² apartment without water, heating and electricity costs around €500. Electricity, water & heating cost at least 80€ - 250€ again. Due to the Ukraine war, food prices are also increasing in Germany. If you went shopping for €50 last year, you have to pay €120 for the same purchase today. And most people in Germany get the minimum wage.
Oh, and don't forget the gas prices. At times they had increased by more than 60 cents. Now the normal liter price for normal petrol is €1.80.
In addition, most people do not work in their city and still have to drive 10-50km to work every day.
Many small companies and especially family businesses had to close because of the corona crisis and the war that followed. They just went broke and our government kept stuffing money down the throats of big business and the pharmaceutical industry.
It was also revealed that our government made so-called "mask deals" behind closed doors during the Corona pandemic, from which they made profits as private individuals because people had to buy & wear the masks.
And then there is the annual inflation of 7%. In Germany you are entitled to an annual salary increase of 3%. So inflation eventually caught up with you and you were making less than you were spending.
Yes, that's how it is in Germany to live as a normal citizen.
Not too many guns in the hands of lunatic people or teens.Our billionaires are the poorest people in the world. We also produce other products of interest.
8:03 In India, loans have been historically exploitative with respect to lenders especially in Colonial Times but now there are more ‘easy access’ loans that have shady business practices.
Yes, China and India are making outrageous loans with impossible conditions and entering into mutual agreements that end in heartache and huge losses to the unwary signatories and to various smaller countries! Indian bankruptcy laws are very cruel too! 🤨😠
If I'd have guessed which is the most wealthy country in Europe, my guess would have been Norway. They don't have too many citizens, I think 5 Million, and since the country had a lot of money from selling sea oil, therefore has very generous old age benefits.
The cost of living is pretty high but its worth it!
The point is education that is free of charge, an universal and public health insurance system and a pension system for the workers.
The german system includes also paid and regulated vacations, a right to form unions and paid sick leave also payments for unimployed people.
Its not perfect but it exists and it is much better than in the land of the free, where you are only free to die!
Germany is a rich country with lot of ideology eliminating its wealth nowadays. So it will be starving soon in the best moral.
As it pointed out in the video, Germany, adopting the Euro, gave it a weaker currency which meant it was cheaper to produce manufactured goods than if it had a stronger currency. Therefore, about 30% of its GDP is from manufacturing compared with about 20% for the U.K. This is one reason why the U.K. struggles to be competitive when it comes to manufacturing and is why I support a weaker £ to align more with the € and the $.
@@Michael_from_EU_Germany yes, that as well. The two are interlinked.
@@Michael_from_EU_Germany I remember the 1970s. British industry was only kept going by nationalisation and nobody wanted to buy the products.
Nobody would have invested in huge chunks of it, when you could make things elsewhere, with no unions, no health and safety and wages a fraction of the west.
The company that I worked for moved production to Germany, but the UK Health and Safety Executive would have had something to say about conditions for Turkish workers I saw photos of there and equality legislation would have stopped work to make sure they were not exploited.
@@improvesheffield4824 This video below is from the seventies. UK manufacturing industry was outdated and would not have survived as it was. Being from Yorkshire, the 1980s were not great here.
Korean Car Industry ] Hyundai Pony ] George Turnball ] Drive In ] 1977 ] Thames TV.
I tried to copy a link in TH-cam, but it has not worked right, a bit like British Leyland, which was a pity. Even as Rover, with German owners and a beautiful car design, it just was not trusted.
See also Car Thrift Auto channel about the Princess, the car I learnt on. It should have been a world beater, if only BL got their act together.
@@alansmithee8831 yes, that also. The reasons are multi-faceted but, as individuals, we tend to focus on the one facet that aligns with our political tribalism; ie, it was all Thatcher's fault, or it was all the fault of shoddy workmanship brought about by years of Nationalisation and union domination. The fact of the matter is that both these things, and more, played a part, including the high value of the £ for most of the last 40 years helping to keep a lid on any serious manufacturing recovery that might have taken place.
.
@@improvesheffield4824 Back in the 1980s, I would watch BBC Question Time and Yes Minister with the first person I met at university. We also saw Back to the Future at the Cinema. My pal was Alok Sharma. Last time I saw him he was on TV next to the King and the PM, about to go to the latest COP conference. As I have commented before, I wonder what I would say to our younger selves if I had that De Lorean?
Funny things went on in the 1970s. It was rumoured there was a plot for a coup, with Lord Mountbatten and Airey Neave (spot the Sheffield reference) involved. Airey was said to be the power behind the throne for the conservatives. Both were killed by the IRA. It was something for conspiracy theories, but it seemed to me to be hinted at in the UK version of House of Cards.
I was reminded of this when watching the film 71 recently.
There were real scandals in Germany to do with political corruption back then and they amended how politics and politicians were funded, if I remember correctly.
Look @ an Germany comedyan. "Volker Pispers" it is with english subtitels. it is loooong one but you can react in 3 or 4 parts. then you see the german humor :-)
If you want to know about the political Partys in Germany go to German political parties explained by Lukas Bender.
And watch it till the end... :)
We made good Kokain Deals to Erfurter Mafia 😅
Australia devalued their currency which makes it’s exports cheaper to other nations.
WWII Helped Germany re start it’s economy with the financial assistance of other countries.
European and US didn’t want a situation where Germany was backed into a corner and and came out fighting, the result of WWI AND WWII
There are a few things, that the video didn't mention. One thing is, most German companies are highly specialised. They produce one good at high quality and look to make that better. A company called Karl Zeis in Jena specialises on lenses and is the only company in the world who can produce lenses good enough for the lasers needed to print transistors on microchips. So basically there wouldn't be smartphones without that. Or rathere they would be a lot bigger and heavier.
Another thing is, most midrange ans small companies are family owned and planing for the long run. They spend conservative (as Germans tend to spend conservative anyhow) and calculate how a decision will effect them long term. So they don't take risks stock companies may take to please their board.
as someone who actually is from jena, i just cringed at your spelling on "Karl Zeis"
its called "Carl Zeiss".
@@raze956 Yeah, true. Didn't remember correctly. Sorry.
Comparing a country's GDP of one year with some company's market cap is total nonsense.
my grandma always mentioned : Y u can only spend what you earned !! a golden rule !!
My father has a saying that he adoppet from his Father : if you cant pay it in Cash dont buy it (excepting Houses and ground)
We did get ouer deserved beatting in WW2.
After that we have realized goods over Politics for the most part
Regarding debt... In fact, the US credit card bubble is the next big concern for the global economy, significantly larger than the 2008 housing bubble. So many Americans are indebted on multiple credit cards at the same time, so much that their incomes will never really cover it . If this bubble ever bursts, the impact will be far more dramatic than that of 2008. Then banks will simply no longer be able to be saved. It is therefore of great concern to everyone how careless the US is in dealing with it. Greetings from Germany. 🤔
In careless, I hope you mean the government, the people are just victims of that!
@@timothyreel716 Victim? So you force people to have three, four, five credit cards and expand their consumption far beyond their living conditions? Oddly enough, this is not the case here in Germany or in the rest of Europe. Rather, it is also one of the reasons why many Germans still hold on to cash. This gives you far more control and a sense of how much you are actually spending.
So no, no one who is an adult and is deemed to have full legal capacity can honestly play the victim role here.
But from a European point of view, actually from the whole world point of view, this also applies to hot coffee that one stupidly spills over one's own pants. Personal responsibility is the buzzword here, only in the USA can you sue the restaurant for your own incompetence. ☝🧐
@@DerJarl1024 I meant in a more broader sense of the word" victim" but yes, the government is keen on dumbing down and brainwashing people to control them. I'm not one of those people, but there's a lot of gullible people who listen to the consumerism chatter in our society, and yes, they should take responsibility for their own actions, but at the same time government, media influence constantly being a huge issue, and the ironic thing is a lot of people from other countries believe the same lies that our government/media tells the our own people, so I don't think it's fair for you or anyone else to judge based on that, whether or not you or any of them have been here or not! You obviously don't understand the fact that globalists are running things behind the scenes, and they are purposely trying to bring society down for their New World Order, that's America's main problem and the world's!!
@@timothyreel716 Nobody forces you the people to go into debt for doing shopping. Are you aware that you pay interest every time you purchase something on credit card? And, on top of that, the credit card company takes its cut in some way.
@@eljanrimsa5843 Yes, I'm aware, btw, I don't have a credit card, I use a debit. I was just explaining a bigger issue.
9:46 'impressive modern feats' no. you wouldn't be that surprised if you knew European/German history. yes, the country was in rubbles after the utter destruction during WW2 *but* the population was among the best educated in the world. [Imperial] Germany overtook the UK in the 1890s (maybe even earlier) economically and was the richest country in Europe back then already. the world wars put a dent into all European economies and turned Britain into a large debtor internationally.
Germany had a broad industrial base before WW1, its educational system was top notch since the late 19th century (think 'vocational training' and Nobel laureates) - all was already long set up for success. if you take a closer look, large parts of [western] Germany were always among of the richest regions of Europe since the middle ages and earlier.
Funny to See my Hometown in the thumbnail if you dont know its called Ludwigsburg an it isnt a very well known town but maybe you can give it a try and react to that. :)
tbf the great reset after WWII helped a lot. other countries are struggeling with keeping old things running but when you have to build up everything new, you have all the new tech to help you grow.
but now 7 months after this video was publisht, the #4 richest Country in the World (Germany) is the first European Country in Recession , thanks to the Government.
...and we have a good education system. Jobs are learned here, with state qualifications. An electrician is an electrician and was not a bricklayer or a shoe salesman before. The level of work done is very, very high. I often missed that in the USA.
Ich denke wichtig an unserem Schulsystem zu verstehen ist das im Prinzip bzw. in der Theorie JEDER die gleichen Möglichkeiten hat, passend zu seinen Fähigkeiten zur Schule zu gehen. Also können Kinder die sehr intelligent und willig sind neues zu lernen, können die höeren Schulzweige wie Realschule oder das Gymnasium besuchen. Es kostet nichts ( abgesehen von möglicherweise etwas teureres Schulmaterial ) sehr einkommensschwache Familien können sogar noch Zuschuss also Unterstützung für Schulbücher oder ähnliches erhalten.
Das macht dieses Schulsystem "produktiv", jeder wird nach seinen Fähigkeiten gefördert/unterrichtet.
Ja in den letzten 10-15 Jahren wurde leider sehr viel vernachlässigt was "neue Medien" angeht und ich hoffe das wir da wieder aufholen können.
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I think it's important to understand about our school system that in principle or theory EVERYONE has the same opportunity to go to school that suits their abilities. So children who are very intelligent and willing to learn new things can attend higher school levels such as secondary school or high school. It doesn't cost anything (apart from possibly slightly more expensive school materials). Very low-income families can even receive subsidies, i.e. support for school books or similar. This makes this school system “productive”; everyone is supported/taught according to their abilities. Yes, unfortunately a lot has been neglected in the last 10-15 years when it comes to “new media” and I hope that we can catch up again.
Talking about Post-World War 2 History, I recommend ‘Mastering Modern World History’ by Norman Lowe.
A huge exporter economy, France and Italy are more consumer economies. And wow, the USA has 22 million millionaires? That's actually insane
Luxemburg belegt mit geschätzt rund 136.701 US-Dollar Platz 1 der europäischen Länder mit dem höchsten BIP pro Kopf im Jahr 2021. Die Statistik zeigt die 10 Länder Europas mit dem höchsten Bruttoinlandsprodukt (BIP) pro Kopf in US-Dollar im Jahr 2021.
With an estimated around 136,701 US dollars, Luxembourg ranks first among the European countries with the highest GDP per capita in 2021. The statistic shows the 10 countries in Europe with the highest gross domestic product (GDP) per capita in US dollars in 2021.
Remember 1 more thing about the sekund world war. Germany was not governed to pay for the damage, that they have done to all the other european countrys. Think about all the lost art effects and all the people who had lost everything. All the jydes, who came back and found that there house was ocupied by other people, and all that. If they had to pay for rebuilding that, and for all the damage, they would not have bin so rich to day.
Germany is also the only county to achieve a peaceful reunification
6:12 cost of living is really different in east Germany at the country I'll can buy a house after 5 years as a post man in the most expansive city munic you can't afford to rent a flat with the same money. But overall good and other products are much cheaper than in the USA what I have heard.
Well good luck buying a house right now lol.
I agree though, we spend less money on food and esp. medication. More money on any kind of energy and fuel.
When it comes to rents you will definitely find worse than Munich in the US (NY, LV etc.), but in the Midwest you can also find very cheap places.
1:57 A side note: People in The Netherlands are said to work less, but that is not entirely true. We had a sort of forced temporary/partial work contract madness in the past 15-20 years, significantly affecting the average work hours people could get, not by choice. Lately, this is (thankfully) beginning to shift to more long-term contracts with decent hours. There are bills suggested to consider a 36-hour workweek as a fulltime week (compared to the now 40 hours), but basically our work weeks are the same as in Germany.
Also, most of northwestern Europe has some interesting powerhouses: The Irish have the highest GDP per capita, and the GDP of The Netherlands, Belgium and Luxembourg combined (or the Benelux countries) is about as big as that of Russia (pre-war numbers). Also, despite having only 17 million inhabitants, The Netherlands has a GDP comparable to that of Turkey, which is around 5-6 times as big (both area and people-wise). The EU as a whole has a GDP of about 17 trillion, which is somewhat comparable to that of the US.
Geography now Germany is a really good video it has all the info of Germany 😮
In Germany, we have a song with the verse: "Jetzt wird wieder in die Hände gespuckt, wir steigern das Bruttosozialprodukt." It means like: „Let‘s go, we let the GDP grow.“ 💪 I think that shows quite well how we Germans are. 😂
You are aware that this was an ironic and highly political song by the band Geier Sturzflug back in the early eighties, right?
@@hevog You people and your context obsession. =P
@@gazz3867 Well, it's the frickin' truth, so why not mention?
@@hevog The song is a direct and satirical reaction to Helmut Kohl's election as Federal Chancellor. Kohl postulated a "spiritual and moral change" (whatever that meant) and a reversal of the welfare state. The problem back then was relatively high unemployment, triggered by the second oil price shock in 1979. His election promise to end mass unemployment through his policies was never fulfilled. Instead, I had to endure 16 years of failed politics without parole...
car export from Germany is falling rapidly because of the EV wave in the rest of the world, the German economist complain about recession of their economy.
Hey bro, I can explain to you how our politcis work. Just get in touch. To answer your question about the costs of lifing: It depends but most people could get over the moth with around 1500 €. But there are a ton of ifs and elses. The old values that made germany what it is today are fading. Sad to say but the ship could sink. One thing about the recovery after ww2: There is the term: "Trümmerfrauen" that means women who basicly worked as construction worker were moving tons over tons of destroyed buildings. And one very sad thing: Germany also makes a ton of money by selling weapons. Im not 100 % sure but we are the 2nd largest supplier for weapons in the world.
Joel, one reason for the economic miracle: quality, quality and again quality of the products. My washing machine from MIELE works now for more than 26 years!
And Joel please consider, that it is not the large companies, but the small and medium-sized family-owned businesses that form the backbone of Germany's economy (even Volkswagen is family owned by Riech and Porsche family) - and the basis of German professional education and training - the dual system. This means the apprentice works in a company and is reached by his senior colleagues as well as by the teachers of the professional school the apprentice has to join simultaneously. So he or she gets the best of theory and practice. At the end she or he has to pass an theoretical and practical examination at the Chamber of Commerce or Chamber of Crafts and he or she gets and well appreciated document.
What he said about "Schuld" and "guilt" is missleading because the word for "guilt" is a variation of dept, meaning if you are guilty, you owe something. In the history of law, guilt came from pre roman times, where you, if you killed somebody for example, the family clan of the victim had to be compensated. This was the case with everything and as I know it was similar to sumerian times, so if you harmed somebody in a way so he couldn't work any more for example, you've had to do his work and so on. Pretty sure this was the meaning of law in the bible when it is said an eye for an eye and so on.
Yes, but just because you live in one of the wealthiest countries in the world doesn't mean you live in a country of THE wealthy.
The UK is still paying off the loans for the rebuilding of Germany
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japan is only at place 3 because they have over 100 million people. Actually germans work 25% more productive than japanese people. they work 10 hours to do the work of 8 in germany. And they need to do it, they dont get money for overtime while in germany every overtime hour has to be paid or has to become an additional free time hour. Germany still grows (mainly because of immigration.. at least this time we get ukrainians not syrian people, ukrainian assimilate fast, learn our language and they also "work". thats fine if a million ukrainians decide to stay here, thats better than the 2 million syrian refugees we toke and which hardly deny to integrate in our society) i cant await that japan looses its totally not earned place 3
I'm from Germany and I can say with 100% confidence say that we are by far not the richest country in europe because GDP means nothing if you didn't own anything you produce! We have the lowest ownership rate in europe, inflation is through the roof, we have the highest electricity prices in the world, have to buy expensive energy from our neighbours and the sanctions against russia ruined our gas-based industry beyond repair. Germany also have to finance 23% of the EU-household, sending 700 million to china for (development Assistance 🤡) and pay 22 billion a year for mass migration that threatens national security thanks to green politics.
Agree. In 10 years we are the poorest country in europe
Germany has the strongest economy in Europe only because it’s the most populous country with over 80million people. Being big isn’t a achievement.
We might have a good economy here and everything is quite stable but what they didn't show was how infrastructure like schools look like. Since education is free it also affects the quality of it (What i mean here is mainly the equipment we have in schools and the general schoolsystem and buildings which are very old and in a bad state), the same would go for healthcare too I suppose. Everything is just very old by now and a really awful bureaucracy makes it impossible to adapt fast enough. I feel like germany is in a very odd state of being in between with many things which also makes it impossible to say what the future might hold.
Im based in NRW and I never saw bad school infrastructures here. All were saniert in my town so far.. healthcare is still good so far compred to other countries. “Sometimes we need to experience to loose some things to realize how fortunate once people are” goes like this line…
@@oyetify well funnily enough i’m also based in nrw and i can of course only talk about my experience. And yes you’re right we can be very grateful for what we got here since it is mostly better than in other countries but it is in no way reflecting the fact that Germany is the biggest economy in Europe and if compared with other for example Scandinavian countries that have a weaker economy they are way more modernized and have better infrastructure than we do and actually excel in almost every area.
I totally agree on the education part, we definitely need more money spend on it and it’s in need of a reformation.
We are actually one of the countries in Europe which spends the least of its gdp on education. The whole difficulty around missing teachers could have easily been foreseen as it takes 6-7 years to fully train a teacher. Oh and guess what it takes 6-7 years until children enter the school system. The federalisation of our school system itself is very outdated, but it’s hard to change if one veto of one of the states can hold nationwide reforms back.
Germany used to be very modern education wise for centuries and other nations copied parts of it, but we are the ones still stuck in these old systems. We need new systems and not some short term “Aktionismus” (which basically burns money) where IPads get bought for schools,just for them to notice that they don’t even have Wi-Fi installed.
Education has to become a bigger factor in elections and society as a whole, as it is also a very big part and the most efficient investment into our nations and children’s future.
In my humble opinion, Switzerland, Austria, Ireland, Luxembourg and the Netherlands are all richer than Germany.
Our policy ensures that it won't stay that way for long
So China is the “second richest country in the world”? Hardly, wealth has to be judged by GDP per capita, the total GDP does not really say much about how wealthy people are. For example Nigeria got Aamodt as high GDP as Norway. Norway is regarded as very rich but the average Nigerian is dirt poor. The average German is hardly that rich either, just average in Europe.
Our Industry was not really damaged after WW2 so when you look at it from now it was not a suprise that the german economy was rising that fast
Didn't pay off their bills for the War, that's how.
because the weak dont deserve pity for being weak
the winners: 6000t of gold, all factories desmantled to the last screw, all patents gone, including rocket science and their inventors. After that, the rise of the american economy! And by that I'm not talking about reparation costs paid!
GDP is one thing - and i wont complain about the german welfare state (even though it was more generous 20 years ago). But even though germany is wealthy as country many germans dont have savings or wealth - for example italians have a much higher per capita wealth (owning more real estate and so on). Aswell many german still rent- keeps you flexible but aswell doesnt help to generate wealth - and many germans dont invest into stocks and just have money in 0% savings accounts.
A good thing in germany is that many global producers are here and the market is competetive so the living prices in supermarkets are much cheaper even compared to countries were the income is lower (the the products dont have to be importet - or a just importet by companies who own the foreign producers).
The somewhat low salaries have to be put a bit into perspective - because of taxes, social security, healthcare, pension funds and so on. So compared to some countries the result will be more favorable for germans and to others not. A lot boils down, as you mentioned to cost of living. But yeah education is free and if you cant afford to support your children in college they get monthly subsidies for cost of living (that has to be paid back 50% after college - if you can afford to). And you could live nearly indefinetly of unmployment and welfare (maybe if your industy died - its frowned upon but generally possible). While in other countries you may only get a few years of unemployment benefits.
I really like the some possibilities of the healthcare system - as its a federal country - if i had some difficult disease - i could go to a hospital anywhere in germany, maybe there is a hospital specialized in that field, all with my normal health insurance. And the doctors usually do whats good for the patient and dont prioritize if its economically viable so you may get that fake-hip at 80 or they dont stand in your way if your want chemo or targeted therapies in late stage cancer-so health issues dont bankrupt you.
9:47 it's not even the hole story the hole story is Germany is late to the industrialisation starts it's dominates GB a few years later WW1 starts Germany loses all infrastructure gets demolished threw that Hitler rised to power rebuild all the infrastructure and more started WW2 and the think repeats again so Germany rebuild the hole infrastructure 3 times in less than 150 years (to be fair that was probably one of the reasons it is so good because the factorys where new and modern for the time while most other countries used old production fertilitys because they didn't want to rebuild them.
I don't know if there's a video about it.
But a political system would be great, I only knew recently about our political system to be honest, but a lot of newer democracries in europe have it and i think it's a good think.
Multiple choice voting with ranked choices, and some states in America are also starting to adopt that system.
The German recovery was started with the main help of your country !
I'm glad my home country Barbados shows up in this video, just unfortunate it's in relation to a negative statistic!!
@MoreJps what age were in 2008? Like 5 or something? I am impressed that you know it. You seem to be pretty smart kid and with a great mindset „über den Tellerrand schauen“ equivalent to to see beyond one’s own nose. 😏 love your reaction videos! 👍🏼👍🏼
...so thank You for Your Report👍Greetings from the, how did he seid "the Powerhouse" 😘🇩🇪🇺🇲
im from west germany and i knowed with 7years we are the richest in europe
Englisch läuft noch nicht so bei dir ^^
Actually, germany is considered as a ressource poor country (like japan). We do have sources of various materials, but the are too expensive to mine. Also germany is too dense populated to make large mining operation happen. The largest deposits are brown coal and salt. Brown coal mining will be stopped, due to climate change and shifting to ecologic power production. But for this, germany is heavily dependand on other counties ressources.
the Marshall plan in todays worth is about 1.5 Billion US in the years 1948 - 1952 ..thank you America !!!! ( OK you needed us to fight your former ally - the Soviet Union !)
It's funny cause Germany is in the middle of Europe and plus they have access
As of today, Germany has overtaken Japan.
The answer to almost all of these videos that ask why are these countries so rich? Are all the same, it's because of the USA.
The political system in Germany is so komplex.
Damn is this boy handsome
I think Norway is the richest country 😂
The reunification since 1989 did cost westgermany a sum betwen 2 - 3 Trillion Euro !!!! TRILLION !!!! not billion
Germany the richest country in Europe? It’s not, the largest GDP but not the largest GDP per capita, which is what actually count.
The iron and coal (especially iron!) thing is plain wrong. The little that is left is way too expensive to dig out.
Shutting down the mines wasn't a Thatcher-nuke but it was donw anyway.
The prices for food and living are a lot lower than in the USA.
Find friends here and come to Germany and live for free.
The Country is rich, But the people Not. 13 Million people und Germany have Not enough Money in this Moment
A very superficial analyses of the German economy.
I dont believe american political system is bad. The problem is more complex i think.
The systems in itself are pretty similar in Germany and the US. What is very different however, is how many topics are handled and especially how people are perceiving them.
Just some fun facts, there are around 50 political parties in the US, yet only two get votes. In recent years the others dont came to 1% together. So there is no real diversity in perspectives in the pool. Then you have the candidates, there are 360mio people in total and half of the voters somehow decided in 2016 to vote for guy that promised to build a wall to solve problems? Meh
Something is off. I would start looking at culture in media. Because media is the link between people and politics. How are they reporting, what is focussed on, who gets screen time? That tells a lot what people get to see and how their perception of the world might look like.
An interesting question to me is, what is driving people to the decision they make at the polls?
I observed the 2020 elections, and here is what one person said about one of the democratic candidates: "He has no chance to win, im not wasting my vote on him"
Sure, how should one have a chance if he doesnt get one? It doesnt fall out of the sky...sigh
Unfortunately i cant recommend a good video about this topic, and that is sort of part of the issue. Because, media, small or big, they critizise each other but never themselfes. Whats left is a polarized world of competition that, surprise, mirrors the state of american society somehow pretty well.
And in Germany we are drifting slowly but surely in a similar direction. But there is this public funded television that is obligated to stay neutral, and despite critiques some might have, that still works relatively well especially during elections, where rules are in place so the one with the most money cant just buy all the screen time.
4:12 what is an posh?