Posted on 12/21/2024 6:19:30 AM PST by george76
The German economy continues to reel under the ruling far-left government..
Germany’s economy continues to tumble, with the Ifo Employment Barometer falling to its lowest level in four years, matching the coronavirus low of 2020. Meanwhile, bankruptcies are growing by double digits
Germany’s economic crisis is defined by a lack of orders, high labor and energy costs, and high regulation, which has led companies to cut staff and delay hiring, leading to the Munich-based Ifo indicator to fall to 92.4 in December, after hitting 93.3 in November. The data used is gathered from a survey of managers across Germany.
“Fewer and fewer companies are adding staff,” said Klaus Wohlrabe, who leads Ifo surveys. “In contrast, the proportion of companies that want to cut jobs is increasing. Almost all sectors are considering job cuts.”
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Germany's economy is in dire straits with national elections just two months away.
The Christian Democratic Union (CDU) leader, Friedrich Merz, notes that under Scholz, the German economy achieved a new milestone: 2 years in a row of recession.
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In particular, the auto industry and its suppliers have been the hardest hit. However, it is not just manufacturing. Retailers are also planning to reduce staff instead of hiring.
“While tourism is hiring, personnel service providers and the hospitality industry are cutting jobs,” said Wohlrabe.
The Federal Statistical Office also announced that bankruptcies continue to rise, with the number jumping 12.6 percent in November compared to the same month last year.
The data shows that year-over-year growth rates of insolvencies have remained in the double-digit range since June 2023, with only one month serving as an exception when it was in the single digits.
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AfD co-leader Alice Weidel calls German Chancellor Olaf Scholz the "chancellor of decline" to his face.
🔺500,000 jobs lost since Scholz became chancellor 🔺Auto supplier ZF will cut 14,000 jobs 🔺SAP will cut 10,000 🔺Ford 4,600 🔺Bosch 3760
And the list goes on
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Leading economic forecasters and even the government acknowledges that Germany will shrink for the second year in a row.
“A sustainable economic turnaround is not yet foreseeable,” reads the latest monthly report from the Federal Ministry of Economics.
Not only is economic uncertainty high due to the usual factors, but the threat of tariffs are also looming from the United States. President-elect Donald Trump is promising to hit Europe and China with tariffs as high as 25 percent, with Germany expected to suffer greatly if such tariffs are put in place.
Sounds like they need their own Drumpf.
Europe needs to grow up. They’ve been on the wrong path for a very long time.
Leftists destroy everything. Absolutely everything. Spreading misery and hate everywhere they go.
They are children that should never be allowed in a position of power in any role.
Welfare for lazy illegal aliens, jihad Islamic invasion of illiterate moslems, climate change fools, and ..
Go Green!
Folks,
this is serious for us. Our economy IS THE GOVERNMENT, sad to say. We can’t chop off everything. It will be a slow weaning process. It will take our understanding that many small advancements over the next generation is needed.
That “Green” energy plan is working perfectly, right comrade?
Arbitrary rules and regs put in place by liberals have outgrown their roles. At least in my little pea brain. A lot carrying the weight of law and ruining peoples lives and bankrupting folks that try to fight them for common ground......It ain’t right. 🙏😊👍
🎅
At least in France, they have nuclear power.
and it all started with the destruction of the underwater oil lines from Russia - the loss of energy supplies. That’s when factories began closing and the belt-tightening throughout the German economy. And who is responsible for destroying those lines??
We can’t chop off everything. It will be a slow weaning process.
Milei’s chain saw revolution in Argentina says differently.
For about 20 years, I’ve wondered if the global puppet masters at the WEF have a plan that says: “This decade, Germany is prosperous, the next 10...Asia, the next 10 USA.”
It would sure match some of the strange global cycles.
The failure of the WEF, Great Reset could easily have upset their plans and thrown Germany, France and the UK into chaos.
Tourism is hiring, but hospitality is not? Makes no sense. Hospitality usually includes lodging, food and beverage, and travel and tourism.
Maybe Germany only offers day trips and no lodging.
I’m probably showing ignorance, but I’ve been doing a little reading on the Minoans and the Ancient Egyptians, whose economies are considered “palace economies”. Basically, a God King ruler owns everything, and essentially all of the economic output flows to the palace. From there, the central ruler and associates choose how the wealth of the kingdom shall be distributed.
Sounds to me a lot like socialism. And a lot like Washington DC. Perhaps we have made no progress in 3000 years.
Our economy IS THE GOVERNMENT
Spot on, 17% of U.S. GDP is printed fiat money. Take that away and witness the greatest economic collapse in history. I’m not happy about it.
A well-deserved fate created by corrupt eu politicos.
Wake up krauts.
Germany’s “leadership” is leading Germany to ECONOMIC AND CULTURAL SUICIDE. They need to stop before the trend become IRREVERSIBLE.
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