What the German experiment can teach us about the future of U.S. wealth
Nov 10th, 2009 | By Bill Bonner | Category: Featured, Financial NewsBill Bonner (Daily Reckoning) – In 1949, the Soviets and the Allies divided Germany into two parts. One part followed a traditional capitalistic path to reconstruction. The other part took the socialist road. Remarkably, they kept this test going for 40 years.
Of course it was misery for many of the test subjects. People were so eager to get out of the East German control group, they risked their lives jumping over the barbed wire. Then, when the wall was down, the population of East Germany collapsed…more than one out of every ten people moved to the West!
But it was a great experiment for economists. Too bad they didn’t learn anything.
To read the rest of Mr. Bonner’s article his long-term recommendation for protecting your financial security, finish the article at The Daily Reckoning.
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Best-selling investment author Bill Bonner is the founder and president of Agora Publishing. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning and three best-selling books, Financial Reckoning Day: Surviving The Soft Depression of the 21st Century, Empire of Debt: The Rise of an Epic Financial Crisis and Mobs, Messiahs and Markets..
