The Germans have boxed themselves in. Their famous Energiewende (energy transition) has resulted in some of the highest energy costs anywhere. Those costs are driving companies to bankruptcy. Rise And Fall Of The German Economy… Energy Debacle Leading To Economic Meltdown By P Gosselin on 16. April 2024 The number of Germany’s corporate insolvencies in March reached the highest level on record, new data reveal. It’s the Great Green Energies economic debacle Blackout News here calls the trend “alarming” and that it is “a clear sign of the worsening economic crisis. The news are based on data released by the Halle Institute for Economic Research (IWH). “There has been nothing comparable since 2016, the year the data was first collected,” reports Blackout News. “This development not only points to internal company problems, it also highlights the extensive economic challenges the country is facing.” Insolvencies are even worse than during the Corona pandemic lockdown years. “Exorbitantly high energy costs” Analysts say the main driver behind the dire trend are Germany’s exorbitantly high energy costs, mostly due to the country’s mismanaged foray into green energies – like wind and solar – and the transition away from affordable and stable conventional energy sources like natural gas, coal and nuclear power. “The wave of corporate insolvencies cannot be explained by poor business decisions alone. Rather, it is the high cost of energy, which is driving up operating costs in times of global uncertainty, and a tax policy that leaves little room for investment,” Blackout News adds. Both, left and center-right, are to blame The push to green energies, and away from conventional sources, began in earnest under the government led by Angela Merkel and her CDU center right party. The latest Socialist-Green coalition government, led by Olaf Scholz and Robert Habeck, have since pushed draconian policies that have only exacerbated Germany’s economic and energy woes. Most experts argue that the government hasn’t been fixing problems, rather it has been making them far worse. It simply refuses to acknowledge the reality. Industrial exodus…country needs more than just hope “The current crisis demands far more from political decision-makers than just hoping for a calming of the market,” adds Blackout News. “Comprehensive measures are needed…the measures include a reduction in energy costs.” Blackout News recently reported on the “industrial exodus” as “Germany’s economic crisis forces traditional companies to flee.”
The Germans are destroying their own economy. New Document Release Reveals Greens Engaging in Fraud to Deceive Ministers and Push German Nuclear Phase-Out BY EUGYPPIUS …when it comes to energy policy Germany is an undisputed champion of crazy.
The German economy is circling the drain. Renewable energy is the cause. Germany’s Economic Bloodbath Worsens As Green Revolution Causes Economy To Bleed To Death By P Gosselin on 3. May 2024 The “greener” Germany gets, the bloodier its economy becomes. How much can an economy bleed before it dies? Since Germany has become hostile to industry and its Green Revolution has made energy prices among the world’s highest, it’s no wonder that the country’s economy is hemorrhaging economically. Companies are shutting down and moving out. Foreign direct investment from Germany into the United States from 2000 to 2022 (in billion U.S. dollars, on a historical-cost basis). Source: statista For example, German online Blackout News here reports on how automotive supplier IHI has announced the closure of its plant at Erfurter Kreuz, Thuringia, and that around 300 employees will be affected in a region that is already struggling. The company is an manufacturer of turbochargers for cars and intends to close the plant in 12 to 15 months, reports Blackout News. The announcement is just the latest in a long, seemingly unending series of closures. “In recent months, several automotive suppliers have had to close their doors or file for insolvency. This development shows the volatile challenges facing the industry,” comments Blackout News. Analysts expect the demand for turbochargers, outfitted on internal combustion engines, will be less in the long term due to e-mobility. Alarming economic pessimism trend In more economic bad news for Germany, pessimism among small to medium size enterprises (SMEs), once the backbone of the German economy, has risen as the business climate index has fallen steeply to minus 1.4. “The business climate index, an important barometer for the mood in small and medium-sized enterprises, fell to an alarming low of minus 1.4 points in February,” Blackout News reports here. “This is the lowest level since the financial crisis 15 years ago. A survey of around 1250 companies conducted by Creditreform Wirtschaftsforschung shows that the majority of respondents forecast a gloomy future for the SME sector.” The latest figures show that there are no signs of hope for a recovery, “after the third year of crisis.” Analysts blame a number of factors, such as the current weak construction and industrial production, geopolitical conflicts and “unclear economic policies”. The current Socialist-Green coalition government blames everyone else except for themselves. The German government has shut down its remaining nuclear power plants after lying to the country in claiming that they weren’t needed – just after experts had concluded the opposite was in fact true. The government plans to phase out coal power plants as well, which will only further exacerbate Germany’s energy woes and its hostile business environment.
It is amazing they are removing their own back up power generation that helps keeps the transmissions lines pressure stable now there will be an increase in line shut downs dues to power surges.
