Globalists Say Britain Should Rejoin The EU, Are They Having A Laugh? German Citizens Are Not Amused

 

Germany: the 'sick man' of Europe again?

August 4, 2023

Despite the constant wailing and gnashing of teeth from globalists who insist on trying to blame Brexit for Britain's economic woes as if we alone are suffering a multi - layered economic crisis and that the only was out of it is for the UK to rejoin, the EU, taken as a single economy is in a worst state than the UK.  The German economy, on which solvency in the EU has depended for a long time, is in deep trouble with inflation soaring and growth stagnant, and as long as current policies remain in place there is no sign of improvement in the foreseeable future. The serial crises of the past decade and a half, from global financial meltdown through immigration, political uncertainty, COVID and the aftermath of lockdowns to the Ukraine war, energy crisis and sky high inflation, have exposed the weaknesses of the country's business model.

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Shortly before the turn of the century British business magazine The Economist published a series of essays and articles on the German economy, which concluded by describing the country as the sick man of Europe. Although this was at the time when the rest of the world was still being propagandised into believing in the German Industrial Powerhouse the insult served as a wake-up call for German politicians, which, having bought into their own propaganda was still living in the boom years that followed reunification reunification. Germany's Federal Government had been delaying much needed reforms, hoping like Mr. Micawber that 'something would turn up. 

 

Prodded by the Economist and other critics the government of Chancellor Schröder introduced major reforms to the labour market, directing the main thrust of its efforts towards reforming Germany's generous social welfare program. In particular, the government wanted to reduce the costs of the bloated welfare system; with an ageing population and high levels of sickness and disability, the number of beneficiaries was increasing at a rate exceeding the number of contributors, thus driving the state budget close to insolvency. High benefit levels had to be paid for and economic recovery was hampered by high taxes. In response to this Schroder attempted to relieve the burden on businesses of the country’s high taxes and labour costs, which had driven away foreign investment and encouraged German firms to close German plants and move them overseas.

 

These steps slowly trurned things around and in 2014, a group of economists from Berlin and London wrote that Germany had developed"From sick man of Europe to an economic superstar."

However in 2023 the wheel has turned full circle and German economy is again struggling. For the final quarter of 2022 and the first of 2023 economic output has declined putting the national economy in "technical recession." In the most recent quarter, Germany's gross domestic product (GDP) has stagnated at the level of the previous quarter, and all the important economic indicators show a decline.

"Germany's economic situation is darkening," was the conclusion of the president of the Leibniz Institute for Economic Research at the University of Munich, Clemens Fuest. The Institute surveys 9,000 executives each month about the current state of their businesses and their expectations for the next six months. The resulting Business Climate Index (July 2023) has fallen for the third month in a row. The Institute researchers expect Germany's GDP to decline again during the current quarter. ... 

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Commerzbank chief economist Jörg Krämer reinforces the opinion of Clemens Fuest and the Munich Institute for Economic Research: "Unfortunately, there is no improvement in sight," Krämer told the Reuters news agency. "The worldwide interest rate increases are taking their toll, especially since German businesses are already unsettled due to the eroding quality of their location."

The country's industrial sector, the showpiece of its economy, is causing the most concern. It accounts for a relatively large portion of Germany's gross value added (GVA), about 24%, and has been suffering  global trends along with other developed nations. A worldwide economic slump in the wake of the COVID pandemic fiasco added to globalist ideologies' influence on policy making it easier for manufacturers to move operations from highly regulated areas such as the EU to nations ith more lax regulatoty and business taxation jurisdictions. Germany's once mighty engineering and automobile sectors, which were heavily reliant on exports, are feeling the effects of foreign customers holding back while cheaper imports from China and other 'emerging' economies flood the domestic market.

And on top of all this a decade of unregulated mass immigration of semi - literate, poorly educated, culturally incompatible, unemployable migrants from third world nations has bloated the welfare system again.

Compared with other industrialized nations, Germany is performing exceptionally poorly — and according to an estimate by the International Monetary Fund (IMF) will be the only large country to have a shrinking economic output.

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