Thursday, May 3, 2012

Merkel forgets Germany's history: 'Austerity not inflation gave us Hitler'

[Anthony] Murray recommends that readers should study the record of Heinrich Bruning, a predecessor of Adolf Hitler as German chancellor. They could discover 'the real reason for Germany's descent into Nazism 
'Monetarist fetishists have helped to circulate a pernicious falsehood that the Weimar uber-inflation caused the rise of Hitler.''The wild inflation storm occured in 1924. The Weimar economy recovered from it.' 
'The Nazis came to power only in 1933, as an immediate consequence of the deflationary spiral that resulted from what Mr Wolf [commentator Martin Wolf, in an earlier article] refers to aptly as the "catastrophic austerity" introduced by Bruning.'
Read it at Mail Online | M. E. Synon's Blog (very short)
Merkel forgets Germany's history: 'Austerity not inflation gave us Hitler'
by Mary Ellen Synon
(h/t Steve M at The Center of the Universe here)

1 comment:

Anonymous said...

Thank you!