That means nostalgia.
You know, the sentimental yearning for the happiness of a former place or time? Way back when? In the past?
Germany’s Volkswagen crisis: an ode to nostalgia – Germany’s car manufacturer and long-time economic powerhouse Volkswagen has shaped the lives and memories of generations of Germans. It’s current crisis gives pause to reflect on its importance in Germany’s history.
But somebody has to do it.
Germany’s loveless coalition teeters on brink of break-up – Chancellor Olaf Scholz snubs partners, fuelling speculation of early elections in spring.
Chancellor Olaf Scholz held a much-vaunted “industrial summit” on Tuesday, sitting down with business leaders and union bosses to figure out how to pull Germany out its current malaise. Pointedly left off the guest list: his own finance and economy ministers.
Robert Habeck, the economy minister, responded by unveiling plans for a multibillion-euro, debt-financed investment fund — an idea not previously discussed with cabinet colleagues — while finance minister Christian Lindner simply scheduled his own, rival business summit on the same day…
Speculation is growing in Berlin that the alliance could soon collapse, pulled apart by its own internal contradictions. Several German media outlets have even named a possible date for snap elections — March 9, more than six months ahead of schedule.
You guys have no sense of humor.”
Other than that though, alles ist in Ordnung (everything’s OK).
Germany’s lost decade: How the Fortune 500 Europe giant is flirting with long-term irrelevance – There is an elephant in the room of the 2024 edition of the Fortune 500 Europe. It’s not a crisis-riddled company or scandal-hit CEO. Rather, it’s the whole German economy.
For most of the 21st century, economists and neighboring countries have looked to Germany with admiration and envy as it managed to weather economic storms with relative ease, capitalizing on trade with growing economies and expanding the power of its industrial giants in the process.
However, a shifting world order has pulled the carpet out from underneath Germany. The industrial quirks that once helped it outgrow its European peers are fast becoming a burden, and crisis after crisis has exposed a lack of planning at the top of government.
Oh, sorry. Green energy already turned the lights off for you.
Germany in crisis: Intel and Volkswagen mull a multibillion-dollar withdrawal from the country.
For the first time in its 87-year history, Volkswagen is considering shutting down plants in Germany, where it employs around 300,000 people, as the company ramps up efforts to save €10 billion in costs…
Reuters reports that Intel will consider pausing or halting plans for its €30 billion ($33 billion) factory in the east German city of Magdeburg as the semiconductor manufacturer looks for cost savings. Germany had committed €9.9 billion ($10.9 billion) to the project when it was announced in June last year.
In Green Unicornland, maybe.
But in real countries like Germany where you have to pay real subsidies you can’t afford to pay anymore, that’s where the fun must eventually stop.
Germany’s Ballooning Subsidy Costs Show Challenge of Going Green – Subsidies are draining budget as green power appeal surges Shift may set tone for others contemplating cost of transition.
Germany is buckling under the weight of ballooning renewable energy subsidies, raising questions for governments across the world about how long they can afford to prop up green investments.
That means a castle in the air.
You know, a pipe dream. Like Germany’s renewable “energy turnaround” pipe dream. Only now the money has stopped coming down the pipe. Reality always sticks up its ugly little head sooner or later.
Germany Plans to Cut Renewable Subsidies as State Costs Soar – Nation to cut all payments next year when prices turn negative.
Payments will also be based on investment rather than output.
“When the government makes loans or subsidies to business, what it does is to tax successful private business in order to support unsuccessful private business.”
– Henry Hazlitt
To find a job in a country that has…
some of the lowest salaries in Europe,
the highest taxes in Europe (if not in the world),
the highest social “contributions” (taxes) in Europe,
some of the lowest retirement pensions in Europe (unless you’re a civil servant),
the highest energy prices in Europe,
the highest water and sewage costs in Europe,
some of the highest real estate taxes and related bureaucratic costs in Europe,
some of the highest rents and real estate prices in Europe and
a catastrophic lack of available apartments.
I’ll stop there. For now.
So don’t miss out on this opportunity, millennials!
Desperate for millennial talent, Germany launches ‘Opportunity Card’ giving migrants a year to look for a job – Between an aging population and an economy in seemingly perennial stagnation, Germany faces some major challenges. Could a visa aimed at attracting more young, hungry workers be the answer?
Germany is set to launch an “Opportunity Card” just in time for the summer, aimed at young foreign workers hoping either to eventually secure a long-term job or simply work in the country for a while.
Because our ideology said we could.
Green deception isn’t like normal deception. It’s cleaner. And renewable.
German ministers quizzed over nuclear phase out ‘deception’ – A political magazine alleged that the Economy Ministry hid expert advice supporting the extension of Germany’s remaining nuclear power plants. Two ministers defended their decision to a parliamentary committee.
Cicero magazine reported a day earlier that officials from the environmentally friendly Green Party had acted in a “deceptive” manner by ignoring expert advice and seeking to proceed with the phase-out of nuclear energy, which had been planned since 2011…
Habeck’s viewpoint conflicted with advice from experts who said that nuclear power could help save the use of gas and avoid a power crisis, just as Germany was trying to cut its dependence on Russian energy.
That means unlikely. As in “a recovery of German industry to the level before the war in Ukraine is unlikely.”
Go Green, go… lean.
Germany set to permanently pay for reliance on Russian gas—as power chief says ‘significant structural demand destruction’ means it will never fully recover from energy crisis.
German industry got rich, thanks partly to its close energy trading relationship with political and economic rival Russia. The past few years have shown just how misguided that relationship was, as Russia invaded Ukraine and cut off Germany’s cheap, vital gas supply.
Now, one of Germany’s leading renewable-power bosses has suggested it’s a mistake the country could rue forever, as the fallout from the energy crisis is set to permanently damage its industry.
Observing Hermann 