By P Gosselin
Failing socialist-green experiment. Economists warn German economy is “on the brink”… “further decline”
Hat-tip: Blackout News
Despite all the earlier rosy promises of a flourishing green economy by the Socialist-Green government led by Olaf Scholz and Robert Habeck – and those made by the earlier Merkel CDU-led government, sentiment among German companies continues to erode badly.
Germany’s online FAZ here reports that Ifo Business Climate Index fell to 85.7 points in August 2024, down from 87.4 points in the previous month. Pessimism is spreading and deepening.
That’s the lowest level sentiment in 3 years
“The current economic slump is particularly evident in the renewed decline in the Ifo business climate index, which has left many economic experts downright perplexed. One thing is certain: the economy is in a serious crisis,” reports Blackout News. And: “no one can say exactly how far the German economy will fall.”
High energy prices, hostile business environment
The current socialist-green government has botched things so much, and now has no idea how to proceed further.
“The challenges are complex and a rapid improvement is not in sight,” comments Blackout News further. “In summary, it is clear that the German economy is currently in a serious crisis.”
Many factors are contributing to the pessimistic business sentiment. Foremost are the high energy costs, which are among the highest energy costs in the world – thanks to Germany’s botched attempt to move to green energies.
War and terrorism weighing down
Also the country’s massive regulation is hostile to free enterprise. Add to this the escalating Ukraine war, which is weighing down further on sentiment.
Another depressing factor: Germany’s uncontrolled flood of refugees from countries plagued by terrorism and war, all of which has led to rapidly rising violent crimes like the one recently witnessed in Solingen. Citizens fear for their safety, and have lost trust in the government’s ability and willingness to protect them.
Not only business sentiment is plummeting, but so is confidence in the government. Unfortunately, real change will remain elusive for the foreseeable future.
Germany is mired in pessimism and fear, with little hope in sight.
The Green policy is one of the drivers and is most likely the reason Germany so readily allowed the US to blow up the Nord Stream pipeline without any protest. The real reason however that Germany is being De-industrialised is the cutting off of cheap Russian Gas. It is complete madness the way NATO has insisted on pushing right up to the border of Russia. We have even made a point to tell Russia that it is none of their business if the US puts nuclear-tipped missiles right on their border. We provoked Russia into this war and by extension the destruction of Germany’s economy. The Greens did not care because they knew it would bring an end to industrial Germany. This shows you how we as a nation could care less about Ukraine. All we care about is ruling the world. It has become total madness. I am sure we would be fine if Russia made an agreement with Mexico to put their hypersonic missiles on the Rio Grande and told us it is none of our business. This was great for the Greens because they have Putin to blame for what they wanted to happen anyway.
The US blew up the Nordstream? Where is the evidence?
The US has nukes on the Russian border? Where and what is the evidence. Yes, the US has a nuclear arsenal in Europe, but not on the border.
FYI, NATO invited Russia to join, which would have mitigated all of their security worries. They turned it down.
The US did not ‘provoke” Russia. Russia wanted the mineral and industrial wealth of Donbas and everything they said was merely excuses.
While the US has many faults in foreign policy, ruling the world was and is not one of them.
“mired in pessimism and fear, with little hope in sight.”
green utopia
success