More Funds

Are always more fun!

Give me a break, people. Look, I’m burning this money as fast as I can!

German minister call for more funds for companies as debt debate intensifies – The German economy minister (Greens) on Thursday called for more government funds to support companies as a debate intensifies on whether Berlin should suspend its debt brake next year.

We’re Just The Government

We only create the inflation. We’re clueless when it comes to knowing how to stop it.

Anybody out there have any ideas?

German government tasks experts with proposing inflation-busting ideas – he German government will establish a committee of experts and task them with coming up with policy proposals to combat the soaring cost of heating and gas, Chancellor Olaf Scholz said on Thursday.

“New Steps To Ease Energy Price Impact?”

After being responsible for creating the problem in the first place? That just means taking away and burning more of the money of the people you’re doing the “easing” for. All “free” stuff is like that.

Germany’s SPD plans new steps to ease energy price impact, document shows – Germany’s ruling Social Democrats (SPD) will propose further measures to help its citizens cope with rising energy prices, including another discounted national transport ticket, a document seen by Reuters showed on Sunday.

Households are facing higher energy costs after the German gas market operator set a levy from October to help utilities cover the cost of replacing Russian supplies.

With energy prices rising following Russia’s invasion of Ukraine, the government has already introduced two relief packages this year, including a 9 euro ($8.96) transport ticket allowing travel anywhere in Germany that expires on Aug. 31.

“A Limit To Fiscal Capacity?”

Is there really such a thing? Someone should inform the Biden administration immediately.

Germany’s federal government has reached the limit of its fiscal capacity, its finance minister said, with extra financing to cope with the coronavirus pandemic, the impact of the war in Ukraine and a climate fund having exhausted government coffers.

“There are no reserves in the 2022 federal budget,” Christian Lindner was quoted by news website t-online as saying on Saturday, Reuters reported.

He warned against granting further financial support before the autumn to citizens to offset the impact of rising inflation. “I advise letting the measures taken so far take effect,” he said.

A €9 Per Month Public Transport Ticket?

What a steal. From the taxpayers, as usual. But still.

Germany offers €9-a-month public transport ticket – Cut-price deal allows nationwide travel as Berlin acts to soften the impact of rising inflation and expensive fuel.

The €9 ticket opens up the entirety of Germany to many who couldn’t otherwise afford it. It’s now so easy to scramble up the Harz mountains, stroll through “Frau Holle Land” and drink a few beers on the Ruhr. You could even reenact Inglourius Basterds in the Elbe Sandstone Mountains or find out why Tom Hanks fell in love with Eisenhüttenstadt for yourself.

German Of The Day: Sozi

That’s short for Social Democrat. And that’s short for Socialist. And that’s short for the big spending of other people’s money. Or “redistribuiton,” if you prefer.

Olaf Scholz is a Sozi.

Social Democrat Olaf Scholz elected as German chancellor – German lawmakers elected Social Democrat Olaf Scholz as new chancellor on Wednesday, ending 16 years of conservative rule under Angela Merkel and paving the way for a pro-European coalition government which has vowed to boost green investment.

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.

V-Shaped

You know, V. Like V are having the worst economic downturn since World War II.

V

But whether the German stimulus measures “have bucked the Corona crisis” or not remains to be seen.

It can’t be too much of a crisis anymore though. Not if all the brothels are being allowed to open again. Come what may.

Several states in northern Germany are set to lift or ease pandemic restrictions on prostitution, with North Rhine-Westphalia now allowing sex workers to resume their business. The decision comes in the wake of several court cases filed by sex workers, who argued the restrictions unfairly discriminated against them.

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.”