Germany inflation hits 30-year high at 7.3%, growth outlook dims

Discussion in 'Current Events' started by Quantum Nerd, Mar 30, 2022.

  1. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Germany inflation hits 30-year high at 7.3%, growth outlook dims

    https://www.dw.com/en/germany-inflation-hits-30-year-high-at-73-growth-outlook-dims/a-61301850

    "German inflation surged to a record high since reunification in 1990, official figures published on Wednesday showed, amid soaring energy costs in the wake of the Russian invasion of Ukraine.

    Consumer prices rose by as much as 7.3% from a year earlier in March, according to the federal statistics agency Destatis, up from 5.1% in February.
    "

    Strange, how inflation seems to be a world-wide phenomenon, when we hear from the Trump fans everyday that "Biden did this". He must be some powerful dude that he can, by the mere act of canceling a North American pipeline that was never built, cause high inflation in Europe.

    Now, to be truthful, the early 2021 covid relief package didn't help the situation, injecting money in an already overheating economy, which suffers from high consumer demand and supply chain issues.

    Apart from that, Biden gets way too much "credit" for having caused the current inflationary pressures. Of course, it is a convenient drum to beat for the GOP, in their hope to regain the House in November, and the WH in 2024. Will they be successful? If there is a recession, I have no doubt Biden will be voted out. With the recent inversion of the bond yield curve, the likelihood of a recession is not low.
     
  2. hawgsalot

    hawgsalot Well-Known Member

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    Well, of course it is they get their energy from Russian and that's going by by. Now if only we weren't importing our energy sources like natural gas and oil. Apples and Oranges.
     
  3. cd8ed

    cd8ed Well-Known Member Past Donor

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    This is happening globally to varying degrees unfortunately. COVID, geopolitics and poor fiscal policy have finally caught up.

    upload_2022-3-30_18-27-47.jpeg
     
    Last edited: Mar 30, 2022
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  4. Tipper101

    Tipper101 Well-Known Member

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    So if you drive your car into a tree it’s not your fault because other people also drove their car into a tree. Fascinating.

    Inflation is tied directly to economic, spending and energy policies and affects each country dealing with it to varying degrees, of which ours happens to be one of the worst.

    The President affects our economy.
    The President affects spending
    The President affects energy.

    To say he is not responsible for how severe it is here is just as idiotically ignorant as saying he’s 100% responsible for it. Trump, as the last President, is responsible for his share of it too. So are the Democrats, and so are the Republicans.

    But let’s be clear here, there’s one party that has championed lockdowns, mandates, employee firings, outrageous spending, and destroying the oil and gas sector. If inflation under republicans might’ve been a 5/10 had they won the election, Dems are making damn sure it’s a 8/10 on their watch. With no answers for us but “suck it up, America”. That is going to hurt you next election
     
  5. 557

    557 Well-Known Member

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    Good point about inversion of the yield curve. If it persists we are in for a shellacking.
     
  6. US Conservative

    US Conservative Well-Known Member Past Donor

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    Germany put way to.much stock into green energy and this is what they get.
     
  7. doombug

    doombug Well-Known Member

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    Biden is to blame. It is all on him.
    41bKMmtOMYL._AC_SY1000_.jpg
     
  8. ToughTalk

    ToughTalk Well-Known Member

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    Germany may hit record high inflation but it's a price Biden is willing to make!
     
  9. ToughTalk

    ToughTalk Well-Known Member

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    Well that didn't help but their biggest problem was getting too invested in Russian oil. Trump warned them not to do that. But Merkle didn't listen.

    The fat bitch thought she knew better.
     
    Last edited: Mar 31, 2022
  10. AmericanNationalist

    AmericanNationalist Well-Known Member

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    Essentially this. It's not our fault our policies are ineffective, because other European countries(as left leaning as this very government itself) also pursued ineffective policies. And that's a joke. Equally a joke, this administration knew the sanctions policy would hurt the global economy but in order to 'send a message' to Putin, they decided to do it. Only one problem: Russia as a pariah can eventually withstand the sanctions and possibly endure a long term Ukrainian campaign. Can the Europeans starve themselves of Russian oil long term? Probably not.

    The situation here and the Iranian nuclear deal are totally different.
     
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  11. notme

    notme Well-Known Member

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    You got to be kidding me that you think this is a honest comparison. lol



    Aha... "our" economy....
    Not seeing how Biden affects the economy world wide, affects the spending world wide, and the use of energy.
     
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  12. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Obama's fault.......I mean Biden.
     
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  13. notme

    notme Well-Known Member

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    The policies in Europe haven't shifted.
    Germany has been ruled by the center-right for the past 15 years even.
    And Johnson is also still in power in the UK. Also not actually left leaning.

    All this is, are the effects of Covid combined with the war in Ukraine / boycot Russia.

    While Ukraine is a massive country that sold a lot corn, seed oil, and iron. Really a lot.
    And drop in supply thunders through the world and so the price goes up. Not so hard to understand.
    While boycotting Russia adds even more to a sharp drop in supply.

    That people across the world grow their own corn, is irrelevant.
    That farmer is not going to sell it's product to the seller willing to pay the most, and not giving some domestic buyer a break.
    Same thing with oil. Oil pumped up in Texas is also going to be sold at the highest price possible to whoever.

    The role of the US president is rather marginal.
    That is so, because the US is not nr 1 and all powerful.
    shocker.
     
    Last edited: Mar 31, 2022
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  14. Quantum Nerd

    Quantum Nerd Well-Known Member

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    I don't know how often it has to be said: While US conservatives think Merkel is some sort of socialist, she is from the CONSERVATIVE PARTY (CDU) in Germany. Of course, the ultra-extreme US right wingers wouldn't know an actual common sense conservative if they stood right in front of them.
     
  15. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Nowhere did I state that the US president doesn't affect the economy. In fact, in my opening post I blamed Biden for the ill-conceived second covid rescue package.

    Now, if you look at the spending, however, it just isn't true that it is 8/10 on the Dems. Ever starting with Reagan, the GOP presidents were all tax less-spend more. Only Clinton was good for the deficit. And then there was Trump: Highest debt added over a 4 year period- EVER. Pressured the Fed chair to lower interest rates. Gave tax cuts on the national credit card. Put tariffs on China and Europe. Urged Saudis to cot oil production during covid. How did were any of those policies anti-inflationary? They were not.

    So, I still hold the opinion that Biden is just unlucky that inflation finally reared its ugly head when he took over. It was long overdue. In fact, inflation is a lagging economic indicator. It usually lags by 1 - 1 1/2 years. Therefore, Biden policies should really only start to affect inflation right at this moment.
     
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  16. TCassa89

    TCassa89 Well-Known Member

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    The problem is people like to treat the president as if they are the pilot to the economy, but then pick and choose which affects they are actually responsible for. Generally speaking the way this goes is if it's a person who opposes the president, then they are going to single out the bad things that are going on with the economy and blame the president, and if they are a supporter, then they are going to single out the good things that are going on with the economy, and praise the president

    The overall picture however is there is both good and bad.

    On the good side, since January of 2021, we have seen a consistent surplus in job growth. As recent as December of 2020 we lost over 300,000. However since then, every month has seen a job surplus. We saw a higher job surplus in 2021 than any other year in US history, and now in 2022 out unemployment rate is back down to 3% again, and we're still seeing a study job surplus every month. Our deficit has also significantly decreased, the deficit in 2021 was about $300 billion less than in 2020, and currently 2022 is projected to be a $1 trillion decrease from 2021 (opponents will say the president is not responsible for this, but that it is the result of COVID)

    On the bad side, we are seeing the highest inflation this nation has seen since the early 1980s. On top of this, we are probably going to see significant increases in poverty. In both 2020 and 2021 we actually saw significant decreases in poverty, however this had a lot to do with the COVID relief packages that were passed. Now that those have run their course, we are probably going to see poverty go back up again. (supporters will say the president is not responsible for this, but that it is the result of COVID)
     
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  17. Tipper101

    Tipper101 Well-Known Member

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    You’ve got to be kidding me you think that’s a response. But very nice job naming yourself after the Democratic Party’s Election Slogan. I’m sure it will get you guys far. Lol.



    Bolding words is not a substitute for ignorance. If you don’t understand how inflation works despite having it explained to you then find someone who can dumb it down further. And has a good supply of crayons
     
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  18. notme

    notme Well-Known Member

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    Oh I can make a comparison that doesn't make sense but pretend it's so logical.
    Our sun doesn't orbit around our planet, and just like that Biden isn't the one controlling the inflation.
    So you know... there you go.

    I explained how the inflation works on a global scale. In this case the supply that Ukraine was making + Russia is being axed, and with the same amount of demand, it's just pure logic the prices go up and up. The US is simply part of the world economy. While no US president controls the world economy. Their power is just puny. And you sure are not disputing this. Your strategy now is ignoring it. Quite silly, just like your comparison.
     
    Last edited: Mar 31, 2022
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  19. flyboy56

    flyboy56 Well-Known Member Past Donor

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    Before the Russian invasion Biden blamed it on the pandemic and supply chain shortages. He is now blaming it on the invasion. So what is it?
     
  20. Pycckia

    Pycckia Well-Known Member

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    It's the globalists fault. Long complicated supply chains look great when they work. When they don't we get inflation and food shortages.
     
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  21. Tipper101

    Tipper101 Well-Known Member

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    Inflation is only a lagging indicator as it relates to factors whose effects lag. Spending for example I can agree will lag.

    Biden however has hugely impacted energy, supply, and jobs, and has done so from day 1. Democratic mayors and governors across the country have hugely impacted those things as well far beyond their Republican counterparts. How’s California gas prices lookin? Bad economic policies justified by environmentalism and pandemic are still bad economic policies.

    I was never a fan of lockdowns and massive spending and hated Trump/republicans doing it. Unfortunately not doing it would have been political suicide because once again, the champions of that would have pitched a fit and the masses would not have cared about long term impacts only that republicans were fine with granny dying. At least they wanted, and did where they could, open things back up a lot sooner than their Democratic counterparts wanted to. But while both parties are guilty of it, Democrats once again are the champions of bad economic policy. California is a shining beacon of that.
     
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  22. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    It is a global problem, not so much 'globalist' problem, Suppliers have not been able to produce and distribute their goods, hence we have supply side problems.
     
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  23. ButterBalls

    ButterBalls Well-Known Member

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    COVID, fiscal policy, LMAO :) I'm sticking with Chineses gross negligence.. I mean it's hard to refute the initial reason and impact the pandemic had and having on the planet ;)
     
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  24. Bearack

    Bearack Well-Known Member

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    Strange, one thinks because Germany has an inflation rate of 7.3%, it must be a universal problem. Well guess what.... it is a universal problem as Germany also flooded their market with unfunded liabilities. You just made the point that over spending causes inflation. Nicely done!

    German debt ratio up in 2020 to 70.0%
     
  25. ButterBalls

    ButterBalls Well-Known Member

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    Well in a sense, yes! Only the folks that voted for the latter would be the most responsible in todays shitstorm..
     
    Last edited: Mar 31, 2022
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