Retail Stores Fail in Germany for the Same Reason They Fail in the United States (see addendum)

The NYT had a story about an uptick in confidence among German retailers, suggesting that German consumers will increase their spending. The piece noted that Germans save more than people in the U.S. then told readers:

"Germany's economy has traditionally been driven by exports of cars and machinery, while domestic demand has been comparatively weak. In fact, the country has been something of a graveyard for retailers. Wal-Mart gave up trying to crack the German market in 2006. Karstadt, the ...