Tag Archives: Economy

German of the day: Zusammenbruch

November 13, 2023 By in Hard Facts, Heconomy, Home Cooking, Hurt Feelings Tags: , , , , , , , , Leave a comment

That means collapse.

German homebuilding collapse threatens wider economic damage – Once-thriving residential construction industry has slumped, posing drag on EU’s largest economy.

Across Germany, homebuilders are facing such a sharp reversal in their fortunes that the downturn in residential construction is threatening to have broader repercussions across Europe’s largest economy.

Many have declared themselves insolvent, dampening Chancellor Olaf Scholz’s target of building 400,000 new homes a year to tackle a housing affordability crisis in several of the country’s largest cities.

Largest housing price drop in 2000 years?

September 23, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , Leave a comment

Damn. That’s a big drop.

Oh. Since the year 2000. But still.

German housing prices show sharpest drop since 2000 year over year, statistics office says – German housing prices fell by the most since records began in the second quarter as high interest rates and rising materials costs took their toll on the property market in Europe’s largest economy, government data showed on Friday.

Residential property prices fell by 9.9% year-on-year, the steepest decline since the start of data collection in 2000, the federal statistics office said. Prices fell by 1.5% on the quarter, with steeper declines in larger cities than in more sparsely populated areas.

Don’t cry for me, Argentina

September 21, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , Leave a comment

Actually, go ahead.

Go ahead and cry for me, Argentina. We can cry together, if you want.

Germany Joins Argentina as Only G-20 Member Facing GDP Drop – Germany faces the only contraction in any Group of 20 economy aside from Argentina this year, according to the OECD, which cut its outlook through 2024.

The euro-zone country will suffer a 0.2% drop in gross domestic product in 2023 — down from a previous projection for stagnation, the Paris-based organization said in new forecasts published Tuesday. It will then grow only 0.9% in 2024, down from 1.3% anticipated in June.

Revive Germany by strangling it?

September 16, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking Tags: , , , , , , Leave a comment

What a novel idea!

Let’s give it a try.

Scholz’s Dream of Climate Revolution to Revive Germany Is Dying – Chancellor’s ambition for economic miracle is floundering.

Coalition is reeling from months of infighting over green plan…

Another big brake on growth and investment is energy costs. Although lower than last year’s records, gas and power prices are still between two to three times the level compared with before the war in Ukraine.

It’s the energy, stupid

September 13, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking Tags: , , , , , Leave a comment

They may beat them in footbal (2-1 last night, without a manager) but…

German economic weakness belies France’s outperformance – Germany’s economic weakness is casting a flattering light on France’s relative resilience that belies the otherwise middling performance of the euro zone’s second-biggest economy, economists say…

Germany’s manufacturing-focused economy is struggling to adapt to being cutoff from cheap Russian gas and the rise of the electric vehicle, said Charles-Henri Colombier with the Rexecode economics think tank in Paris.

Germany’s gas-hungry chemical industry has seen production fall 18% from 2019 levels while in France it is only 8%, Colombier said. Meanwhile, German motor vehicle production is down 26% and only 6% in France.

We’re number one!

September 12, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , , , Leave a comment

At saving the planet.

Too bad we’re destroying ourselves in the process.

Strike one: Germany’s nuclear phase-out.
Strike two: Its self-inflicted energy dependency on Russia.
Strike three: Still believing that renewable energy can run an industrialized country.

Green energy prices are killing German industry right before our very eyes.

Germany predicted to be the only major European economy to contract this year as recession lingers – The German economy has struggled in the wake of Russia’s invasion of Ukraine, with Berlin having to, very quickly, end years of energy dependency on the Kremlin. The International Monetary Fund said in July that Germany would likely contract by 0.3% this year.

German of the day: alles bestens

September 8, 2023 By in Habitudes, Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , , Leave a comment

That means everything is fine, cool, hunky-dory.

Falling industrial output for three straight months ain’t no big deal, says German Green Vice Chancellor Robert Habeck. And “not everything is bad,” he added. Wow. That’s actually unbridled optimism for a Green.

Habeck defends German economy as output drops – Vice Chancellor Robert Habeck said Germany remains a “highly attractive location” for investors. But the statistics agency said industrial output fell for a third straight month, and that wasn’t the only negative news.

Slowcession?

August 6, 2023 By in Hard Facts, Heconomy, Helplessness Tags: , , , , Leave a comment

Is that like shrinkflation?

Because Germany is definitely suffering from that.

Is Germany’s great economy sinking into ‘slowcession’? Key data this week will offer a hint as to whether the eurozone’s powerhouse can shake off recent stagnation.

Engine of the eurozone, industrial powerhouse, export world champion – just some of the ways Germany’s economy has been described over the years.

However, recent figures have indicated that the good times have come to an end, with Europe’s largest economy stuck in recession.

It’s not a slowdown…

July 6, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Hysteria Tags: , , , , , , , , , , , , , , , Leave a comment

It’s more like a Vollbremsung. That’s German for full braking or emergency stop.

Germany’s highest court just cancelled the Green’s latest rush-rush trick, I mean plan to save the planet at German taxpayers’ expense.

Germany’s Green Slowdown – While voters may still broadly support net zero goals, they’re not necessarily on board with the escalating costs of the transition.

… Today, it’s the Greens’ proposed ban on new gas boilers in homes that’s causing trouble. Against a backdrop of sliding poll ratings, the party’s partners in the coalition forced a dilution of the plan last month in a package that also included a massive road-building program.

In another blow to the policy — dubbed Habeck’s Heating Hammer by the opposition — Germany’s constitutional court has made a highly unusual intervention in the legislative process and ordered the government to give parliament more time to scrutinize the plan.