The economic situation in Germany is bad, very bad indeed. There are indicators such as the so-called Markit PMI that predict a similarly devastating scenario for German industry as at the time of the great global financial crisis of 2008/2009 or at the time of the Corona shock in 2020. …
The President of the Deutsche Bundesbank, Joachim Nagel, said in a speech in Frankfurt on 5 July 2023 that it was too early to sound the all-clear with regard to the price development in Germany, “Inflation has broadened overall.” …
On 9 December last year I wrote that Germany is in recession, while economic and financial policy imagines that things can only go up. Since then, endless nonsense has been written about winter recessions, technical recessions and the like. Economic policy has been able to hide behind this whitewashing by the media. …
The ECB’s decision on 2 February to raise interest rates again by 0.5 percentage points and to announce an equally large increase for March will go down in history as a grand misjudgement. Although it is already foreseeable that the price development in Germany and Europe will quickly approach normal values in the course of this year, …
