Pastor General's Report
On The World SceneOn The World Scene

HEAL THYSELF, GERMANY TELLS AMERICA; A couple of weeks ago, U.S. Treasury Secretary Michael Blumenthal drew a complete blank from West German Chancellor Schmidt in his request to have the Germans inflate their economy a bit in order to take the strain off the plummeting dollar. The Germans know by painful experience - their soaring inflation in the 1920's - just how disastrous inflation can be and are not about to embark on that road again. Then too, if the Germans pump air into their economy now, this will only send wage costs upward, which will be reflected in higher prices for German products.

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Pastor General's ReportFebruary 27, 1978Vol 2 No. 6