The advice to incur debts in order to boost the economy and the idea to reduce debts through economization should be given with the utmost caution. Basically, that is true, but only basically. Also, the consideration to be able to limit both measures through generated growth, has to be seen in a very differentiated manner. Surely, it is the way to prevent a catastrophe. Catastrophe in this case means inflation or deflation.

It may well be that for many Ludwig Erhard and his analytic expertise has “gone out of fashion”. But there is one topic where he can’t be contradicted, namely when he says moderation! Moderation means no more and no less than to orient one’s own actions on one’s own performance. The First World has neglected to do so in the past decades, respectively the people of the First World have acted beyond their own performance level. In other words, we lived beyond our means. “Buy now, pay later” this American advertising slogan has shaped an attitude towards life in many people in times, where people began to believe that trees would rise up to the sky. Until this break at the end of a fifty year exceptional period came about now.

How can we get out of this debt trap and how can we rediscover an appreciation for the correct way of saving?

We have to rediscover our potential. Don’t lift a stone you can’t carry. Say goodbye to senseless business plans and strategies which look good on chart presentations but can’t be implemented. Only speak of globalization, when your mind is fresh and rested. Only believe in politics that can be called for in one legislative period. Don’t expect more from others than you are willing to give yourself.

Correct economization means to put aside a part of the earnings. He, who only slashes necessary expenditures and necessary investments, is not economizing. In this context we should remember: We also carry responsibility for the things we don’t do. And even if saving measures give a first impression of being successful, one should nonetheless be careful with an overhasty assessment. Earning money and at the same time get the chance to save is only possible when all expenditures are assessed in regard to their actual meaning and necessity and investments are made in order to increase the gap to the competition on the market.

In this context we put the emphasis during the development of strategies on two vital aspects: On the meaning of truthfulness and feasibility.