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

That damn Biden. He’s so powerful that he caused the global inflation.

 

The EU, which is also NATO, can and the EU has a vast exclusion list of items they will not sanction from Russia.

Any deal with the US to buy NG isn't fruitful in the interim. US does not have the mechanism in place to replace Russian NG with US NG. We would have to "Drill baby drill" to meet Europe's needs and no real mechanism to get them the gas efficiently. We still import about 2.5 trillion cubic feet per yer.

And the EU really has no negotiating position with Russia at ALL. They have no other way to replace what they currently are getting from Russia in the interim and are forced to purchase. This is truly a story of "You reap what you sow" and their addiction to Russian energy is now coming home to roost.

 

You missed the part where Germany's debt to GDP has increased 70%, meaning that the German government is spending money like Hunter Biden in a Meth house brothel.

 

US deb/GDP ratio jumped from 106% to 134% in 2020, under Trump during covid.

https://www.statista.com/statistics...us-in-relation-to-gross-domestic-product-gdp/

You were saying? Seems like Germany is a beacon of fiscal sanity compared to the US under Trump, because their debt/GDP ratio only went from 59% to 69% in 2020. .

 

It's joe's fault

Was there ever any doubt?

 

He's the Debil!!!

 

Yep, and if it's not Joe's fault, it's the Dems' House fault, because they MADE Trump sign the covid relief bill and put his signature on the checks, against his will.

 

And yet, debt to GDP is still over 130% with anticipated ADDITIONAL spending. I've already said Trump didn't reduce the debt, but our debt to GDP debacle started soaring in 2008. It's a non-partisan issue and the ones running the purse right now is the Democrats. There is no GOP control, yet we have increased spending during a inflationary period. Spin all you want, but this is Biden's inflation and Germany's inflation is their own spending issues..

 

lol, of course it is non partisan! Both parties love increasing it. The debt is designed to continually increase. The entire global economy and capitalist system is a debt shell game, where the buying and selling of debt gets the elites richer and richer, while everyone else sinks further into debt. There will never be a serious dent made in the debt. Every once in a while reducing it is thrown around as a political tool, to convince people who don’t know better that someone is fiscally responsible. But there will never be a serious effort to reduce it. That would cut off the money flow to the elites.

 

The spending in the 2008 was saving the banks from going broke. If that wasn't done it would have meant a massive bankruptcy in the US that probably would have spread across the globe. There was no option. Communistic aid was needed to save "capitalism". Same thing with the past couple of years. Companies were forced to close, people were forced to stay at home,... so nobody was making money to pay the bills. Enter the government for free handouts, mostly to companies for again more communistic aid to safe the "capitalism".

Companies simply got no fat on the bone. They are all giving it away to the lucky few to become even richer.
Only the short term success matters. Get that multi million bonus, and never mind how it all falls apart,.. since they are set for life at that point.

 

You're right. He signed the first one. Biden signed the next 3.

 

Germany is having to up its level of defense spending (due to the Ukraine crisis), but at the same time they cannot afford to due to all the other social programs that their money is earmarked for. The sanctions they are imposing against Russia are also resulting in price increases in their own economy, since Russia supplies several commodities that are cheaper.

 

Not really. Mostly in all those White English-speaking and Western European countries.

China's inflation rate was only 1.8%.

 

Then you know the dilemma EU is facing.

US Oil companies flat out said they cannot increase production more than 5-7% without risking massive losses when prices fall again. They got burned big time in 2020, and that's only 1.5 yrs ago. They don't care what's best for US or EU, but what's best for the bottom line, - the shareholders.

No one will trust Russia again. Germany does have an option to start up the nuke plants again, which were shut down only few years ago. They will probably do that, while completing their goal in regards to renewable energies.

If anything, this crises shows the importance of alternative energies, not only as a supplement, but a main source of energy. As of today, Germany gets 50% of their energy from renewables, so they are getting close to their goals.

 

Germany will shut down its three remaining nuclear power plants, Emsland, Isar and Neckarwestheim, by the end of this year.

It's doubtful that the current socialist 'coalition' would condone the idea of operating them, even though their neighbors to the west in France use nuclear power extensively and without any problems....

 

I am thinking they will not follow through with that plan.

Not sure how socialist they are and what it would have to do with shutting down the plants. Half of the 'coalition' is Christian Democratic Union of Germany, which is conservative. Socialism is an economic model where the government owns and operates means of production, and noone in Germany is suggesting that model.

 

No... Olaf Sholz' coalition partners are the Greens and Free Democrats (FDP) -- not the CDU. Link: https://www.dw.com/en/germanys-social-democrats-vote-to-approve-coalition-agreement/a-60018960

Still, (choke!), although the CDU is, uh, "conservative" by German standards, I suppose, nevertheless during all this time that the CDU ruled the roost in Germany, they were happy to gut the Bundeswehr to fund social programs and plan Germany's transition to 'green' energy schemes. Not too "conservative", but, hey, I'm an American, with a different viewpoint of what a "conservative" is.

Anyway, now the ball is in the court of the ruling SPD and its coalition partners, the Greens, and the FDP, as I've pointed out. And, yes, the classic definition of Socialism, per se, is as you've described it, but neo-socialism as it has been practiced nearly everywhere has been modified -- and -- Germany actually has one of the better models for its success, but all those social programs are a 'millstone' around Scholz' neck, now that Russia has decided to project power in Europe once again....

 

And, yet, with all the social programs and the green energy, the German debt to GDP ratio is 69%, vs. 133% in the US. Me thinks, they are better off because, unlike us, they don't give the house away to the rich with unpaid-for tax cuts.

What we get with GOP policies: Unsustainable debt, unsustainable, but poor social programs, and an explosion of wealth inequality. Why anyone would vote for this is beyond me. BTW: Not that the Dems are that much better.

 

My bet is on them not shutting down at a time like this.

 

And why haven't they been able to produce their goods?

 

Thank goodness he did. You have any idea how limited our economy would be with the dollar still tied to gold?

It's fine the way it is. If you don't trust it, YOU can buy gold, nothing is stopping you.
I got crypto, If the dollar starts losing value, it cant buy as much crypto. So my stash is worth more.. It's just physics.

 

Sooo does this mean you are against crypto currency?

 

That's what you get when you close down your nuclear plants and rely on Russia fossil fuel for your energy. Idiots.

Meanwhile, in France, where they country took an opposite position and ramped up on nuclear, inflation remains reasonable.

https://think.ing.com/articles/france-inflation-rises-again-but-remains-reasonable

 

Yes, maybe you can buy less and less bitcoin as time goes by, due to the inherent algorithm making it harder and harder to mine, the more bitcoins exist. However, this will be compensated for by 100 more cryptocurrencies sprouting up every year (doge coin etc.). Therefore, this system will be just as inflationary as the actual dollar, but, unlike the dollar, it is totally unregulated. What can possibly go wrong?

 

40% of the world's Uranium processing capacity is in Russia. You were saying? Do you think this will NOT affect the world processed Uranium market, or, in other words, price for running nuclear power plants? Think again before you call others idiots, just because you (wrongfully) assume that they are "socialists" .