A Picture Is Worth A Thousand Words

What do Germans fear the most?

An annual study has again asked people what they fear the most. After almost two years of COVID pandemic, somewhat surprisingly, health issues do not top the list.

For years, there was no new public debt in Germany. This gave citizens the reassuring feeling of living in a fiscally sound country — until the coronavirus pandemic came rolling over our world like a tsunami.

“People like to push thoughts of illness away, we all know that. But when it comes to money, then, also in my experience, the fears are always very large.”

“We Don’t Have The Money For It”

But you do, German taxpayer. So we’ll take it from you.

As you may have noticed, Angela Merkel’s CDU became the SPD (Social Democrats) long ago and Armin Laschet, her designated mini-me survivor, is holding that red flag high. As you also may have noticed, the only thing socialists do well (or Social Democrats – or Democrats, for that matter) is spend other people’s money.

Armin Laschet, Germany’s leading candidate to replace Chancellor Angela Merkel, has created a rift between German conservative parties over his comments that now is not the time for tax relief.

Laschet, representing Merkel’s Christian Democratic Union (CDU), on Sunday categorically rejected a proposal for new tax cuts as Germans emerge from the pandemic. “The core message is no tax cuts right now — we don’t have the money for it,” he said in a televised interview.

Mass Corona-Testing Fraud

Everybody’s doing it!

Highly inaacurate for those being tested and highly expensive for the taxpayers (and the taxpayers’ children, and their children, etc.) who are financing it, these tests are at least “free,” if you get my drift.

A number of high-profile cases of fraud, and enduring questions over the accuracy of antigen (also known as lateral-flow) tests, have prompted criticism of health minister Jens Spahn’s scheme for triggering a free-market free-for-all, something Die Welt newspaper called a “testing gold-rush”.

“It’s an absurd system, and very atypical for Germany”, said Matthias Orth, of the Institute of Laboratory Medicine at Stuttgart’s Marienhospital. Earlier this year, Germany’s disease control agency reported that one commonly used antigen test – which only detects Covid-19 cases on days the viral load is highest – had missed 61% of asymptomatic infections at the emergency ward of a Stuttgart’s Katharinenhospital clinic.

Woman Who Never Worked A Day In Her Life To Turn Germany Into A Socio-Ecological Economy

As soon as anybody can figure out what “socio-ecological economy” means, that is. Might take some time.

Oh yeah, I forgot. There is no more time. The world is coming to an end and man-made CO2 will kill us all and all that. So actually, it’s easy to figure out. All socio-ecological economy means is to spend more and ever more of other people’s money (and their children’s and their grandchildren’s and their…).

Greens vow to turn Germany into ‘socio-ecological economy’ – Party approves election manifesto that calls for fast-tracking of switch to carbon neutrality within next 20 years.

On October 31, 2020, BER Will Open

But don’t tell anyone, OK? It’s too embarrassing.

Airport

Berlin’s new international airport can open next month after an embarrassing nine-year delay despite the coronavirus pandemic taking a big bite out of air travel, its chief manager said Tuesday…

BER was set to open in 2011 but the date was repeatedly pushed back over a series of issues, including fire safety and corruption.

In the meantime, the cost of the facility exploded to 6.5 billon euros ($7.6 billion) from a 1.7-billion-euro budget initially.

“There won’t be a big party, just an opening.”

Germans Still Dropping Like Flies

At a staggering rate of roughly two (2) deaths per day, Germans are desperately searching for new ways to decrease the Corona death toll.

Deaths

Their COVID-tracing app not being accepted by the public as they were told to accept it, COVID-prepared hospitals pracically empty, German children attending school regularly again without any Corona irregularities and quadrillions of zillions of stimulus euros planned to be burned both this year and the next, the German public is concerned the government just isn’t doing enough.

There always is the Querkopf (oddball) or two, of course. For example, the chief executive of German health-care group Fresenius has warned that the country may have been overly focused on the pandemic, ignoring other areas of business and society that have suffered.

“Even though a lot has been done in the right way, my criticism is that we have focused too exclusively on the coronavirus and we have ignored all the collateral damage that has been going on and continues to go on.”

Always Look On The Bright Side Of The Worst Recession In Post-War History

A $256.15 quadrillion zillion stimulus package of their own money taken from them by their government and given back to them as a gift (to be paid back to the government by their grandchildren and great-grandchildren and so on should they ever have any) has lifted German spirits.

Berlin

Sort of. But just keep smiling through the Coronavirus stimulus party anyway, Germany.

German consumer morale improved less than expected heading into October, a survey showed on Wednesday, putting a damper on hopes that household spending in Europe’s largest economy will be strong enough to drive a quick recovery from the COVID-19 shock.

The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, edged up to -1.6 heading into October from an upwardly revised -1.7 in the previous month.

Can’t Reach The Current Planned Level Of Carbon Emission Reduction?

I know. Let’s introduce an even higher and more unrealistic new level of carbon emission reduction we can’t reach!

Uschi

Then everybody’s happy. Except those folks who still have to live in the real world.

German industry sceptical of EU’s new 2030 climate goals – The European Commission will present today (17 September) detailed proposals to reduce carbon emissions in the EU by 55% below 1990 levels by 2030. While German industry officially welcomes the new ambitions, it is also clearly sceptical.

The increase of the current target for 2030 by a further 15% would mean a roughly fivefold increase in the efforts of the 27 EU member states, BDI President Dieter Kempf emphasised at the beginning of his speech.

And according to BDI calculations, Germany alone would have to invest €2.3 trillion to achieve climate neutrality by 2050. “You can work out who of the other 26 countries can afford to do this. The level of ambition not only differs greatly within the EU, but also globally,” said Kempf.

 

More Debt Is The New Normal

In Germany too.

Schulden

The govenment might not directly admit it but the days when they at least strove to reach a balanced budget (black zero) are over.

Germany’s spending to counter the coronavirus crisis and modernize its economy means the country shouldn’t return to a balanced budget anytime soon, according to a senior Finance Ministry official…

Chancellor Angela Merkel’s government abandoned its balanced-budget policy this year and is set to borrow about 218 billion euros ($258 billion). A deficit of more than 80 billion euros is set for next year to fight the fallout from the pandemic, people familiar with the matter have said…

Germany’s constitutional debt brake obliges the government to keep debt under control. In good times, the rule allows for a structural deficit of 0.35% of gross domestic product. In times of recession, new borrowing can go up in proportion with the economic decline.

“A balanced budget isn’t obligatory.”

No Way Back

No way out. No doubt about it.

Out

Spending other people’s money is so exciting. Joint debt is the bestest kind of debt there is. It’s free. Somebody else will pay it back. In this case, the Germans. Germans who haven’t even been born yet, but still.

Germany’s Scholz (SPD) sees ‘no way back’ from EU joint debt – German Finance Minister Olaf Scholz said Sunday (23 August) that the European Union’s recovery package financed by joint borrowing was a long-term measure rather than a short-term coronavirus crisis fix, contradicting Chancellor Angela Merkel.

“The Recovery Fund is a real step forward for Germany and for Europe, one we won’t go back on,” Scholz, who is also the centre-left Social Democratic Party (SPD) candidate to succeed Merkel in 2021 elections, told the Funke newspaper group.