German Of The Day: Unsicherheit

That means uncertainty. You know, like economic uncertainty?

Export

German exports fell by 1.3% in February compared with the month before, the Federal Statistics Office said on Monday. The figure represents the biggest drop in export revenue for a year…

Economists say that uncertainties surrounding Britain’s exit from the EU, the ongoing trade dispute between the US and China as well as weakening demand for industrial products are weighing on economies across the world.

“Die Ungewissheit aufgrund der vielen ungelösten Konflikte schlägt sich in den Auftragsbüchern nieder.”

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German Of The Day: Abkühlung

That means cooling or cooling off.

Cooling

You know, like German growth predicted to stall during 2019 in significant Abkühlung?

Germany’s economy could experience a “significant cooling” in 2019 and could see sharply lower growth this year, the country’s leading economic institutes have warned in a report compiled for Germany’s economics ministry.

Forecasts for German growth were revised significantly downwards in a ‘Joint Economic Forecast’ collated by several prominent German economic research institutes and published Thursday, with economists predicting a meager 0.8% this year.

This is more than one percentage point lower than a prediction for 1.9% made in a joint economic forecast in fall 2018.

“The long-term upswing of the German economy has come to an end.”

German Of The Day: Die fetten Jahre sind vorbei

That means the “fat” (good) years are over.

Fat

Merkel Doesn’t Want to Tell Germans the Good Times May Be Over – The leaders preparing to take over when Merkel steps aside are worried too. They say voters could be caught unawares by an economic shock in the middle of the political transition from Merkel’s rule. Two senior party officials this month voiced concerns that such a double whammy could shake up the political map ahead of the next election. They asked not to be identified questioning the chancellor’s approach.

One shouldn’t undermine the economic upswing by talking it down.

German Of The Day: Auftragsschwund

That means a decrease in orders.

Auftragsschwund

Did the boom just go boom?

Orders slid 1 percent from October, and posted a year-on-year decline of 4.3 percent, the biggest in more than six years. The monthly decline was partly due to aircraft orders, which had jumped in October, as well as weakness in the euro area.

While there are questions over the outlook for the German economy, the euro area’s biggest, the Bundesbank has long expressed confidence that it will overcome the slump seen in mid-2018. Responding to the factory data on Monday, Commerzbank said the decline “should not be over interpreted.”

“Wir blicken abwärts.”

Germans Feeling Gloomy?

Wow. We’ve never had that one before.

Gloomy

The German economy is booming. Unemployment is at a near-record low. In Europe and around the world, the country is seen as a beacon of wealth and efficiency.

So what’s so mysterious about their gloom? This is Germany. Duh. How could Germans not get gloomy about a situation like that?

But maybe, just maybe, with a little luck things will start to crap out here before too long and everybody can start cheering up again.

Es war einmal ein starkes Land.

Robust Export Growth?

German exports rebounded in May, providing more evidence of a strengthening of the economy in the second quarter.

Export

Yeah, I guess that’s true. If you forget the exports last month to one particular country. Those have dropped 10% for some inexplicable reason. But I’m sure that will pick up again real soon, right?

Despite ongoing trade tensions, German exports did what they normally do: grow. In May exports increased by 1.8% MoM, from -0.3% in April. At the same time, imports increased by 0.7% MoM, from 2.6% MoM in April. As a result, the trade surplus narrowed somewhat, from EUR20.1bn to EUR19.7bn.

“Die Verunsicherung durch die Einführung von Importzöllen seitens der USA und die Gegenmaßnahmen der EU und Chinas machen sich direkt bei den Unternehmen bemerkbar.”

Deutsche Baaaank

It looks like it’s going to be a long fall.

Deutsche Bank

Sorry, I mean it already has been a long fall. But at least this fall is free.

It would be an understatement to say Deutsche Bank AG is going through a difficult period. It chalked up its third straight annual loss in 2017. The new chief executive officer, Christian Sewing, has unveiled the bank’s fourth turnaround plan in as many years, yet its shares have fallen to a record low…

How much time does the bank have? Not a lot.

Der Aktienkurs der Deutschen Bank ist auf ein neues Allzeittief gefallen. Am Mittwochmorgen notierte das Papier bei 8,76 Euro – ein Trauerspiel mit Vorgeschichte.

Trump Responsible For Germany’s Weakening Economy

What a jerk.

Trump

Worse still, he tweets awful things about German officials and the increased crime rate they have brought to their country due to the influx of migrants.

Migrants

Worserer still, he’s also the reason why Germany will be missing its CO2 emissions target for 2020.

Emissions

And worstest of all, he is personally responsible for Germany’s loss to Mexico in the World Cup.

Mexico

And all of this on a Tuesday? They should rename it Trumpday.

Die deutsche Wirtschaft schwächelt, das stellen führende Wirtschaftsforschungsinstitute fest. Schuld ist demnach auch die Politik von US-Präsident Donald Trump.

More Redistribution Needed

Or that’s what this article seems to suggest.

Redistribution

And this in a country that has already been redistributing the wealth for decades and decades or longer.

When it comes to the superrich, however, there are relatively reliable estimates in the form of lists of the world’s wealthiest people, with the one compiled by the US business magazine Forbes leading the way. A similar list is compiled in Germany by manager magazin. A team of tax experts led by Stefan Bach of the German Institute for Economic Research (DIW) has examined the wealth statistics compiled by the ECB and augmented them with lists identifying the ultrarich. And the team did so for three countries: Germany, France and Spain.

The result: The 45 richest households in Germany own as much wealth as the bottom half of the population. Each group possessed a total of 214 billion euros in assets in 2014.

Bad superrich! Bad!

Why would more redistribution be necessary in a country like Germany? Maybe because it doesn’t work. It can’t work, in fact. It is not, nor has it ever been, a zero sum game, this wealth business. Here or anywhere else. But it’s a great way for redistributing politicians to get elected. Again and again and again. To no avail.

“Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.”

Germans Worried About Low Angst Level

Concerned about the traditional German angst about sozialer Abstieg (personal social decline) is currently at an all-time low, a number of German angst experts are recommending that radical options be considered when next month’s election rolls around.

Hafen

“We could all vote for the SPD, for instance,” said one less than thoroughly angst-filled social worker, with a stress on social. “That would bring my angst about social decline shooting back to appropriate levels in no time. I’m not sure if I’m quite ready for the Left party yet, though. I do have heart problems, after all.”

Die Wirtschaft wächst – und die Deutschen fühlen sich so sicher wie seit fast drei Jahrzehnten nicht. Laut einer Erhebung der Universität Leipzig hat nur noch jeder Dritte Abstiegsängste.

PS: To help folks combat their angst about not having enough angst, somebody has introduced Donald Trump ecstasy pills over here. They are guaranteed to stick in any German throat that tries to swallow them, however.