Armstrong Economics- Global Recession
Neither China nor Russia are to blame for Germany’s situation. Russia was simply a diversion to draw attention away from the collapse of the European economy. Negative interest rates beginning in 2014 wiped out pension funds and proved that the central bank was not thinking long-term. COVID restrictions killed the supply chain, and Germany’s insistance in backing Ukraine eliminated what could have been a lucrative pipeline. Had the pipeline gone through, Europe would not have an energy crisis! Ever since COVID, we have witnessed a rising trend of civil unrest.
His premise that all of this is a mistake is wrong.
Absolutely. The situation of Europe’s principal industrial and economic centre being completely dependent of Russian supply of gas was inherently unstable. Something was always going to come along to disrupt the situation. Germans and Europeans deserve this, as they are simply getting what they voted for over the past 30 years. Stupid bastards are even dumber than Justatwit.
The Russo-Ukraine War merely moved up the day of reckoning.
Which may be for the better, since Europe has not yet fully eliminated nuclear and coal powered plants in favor of windmills, solar power, unicorn farts and Russian Natural Gas, but mostly Russian Natural Gas supplied through Nord Stream 1 and the almost operational Nord Stream 2.
It’s a result of malinvestment into non-productive things – wrong ideas, wishful thinking, fantasies, tombs.
Wrong ideas like the benefits of centralization, or the killing of sparrows in The Fours Pests campaign, or that women can have it all.
Wishful thinking like the stock market or real estate always goes up.
Fantasies like ‘green renewable energy” and electric cars, or the printing of money is not inflationary.
Tombs like the Pyramids or the Taj Mahal. They are tourist attractions now, but they were a way to redistribute the immense wealth stolen by the pharaohs. Imagine if the resources had been put to better use, or not stolen in the first place.
Brilliant on all points! Indeed … tombs of wealth … where moths and succeeding generations of slackers eat it all up. This current American Congress is STEALING from generations of taxpayers in an unspoken redistribution of reparations. Yes … the Congress has STOLEN what they consider “reparations” for 150 years of cheap, plentiful, energy. Now they are intentionally kneecapping America. Might as well call the Fed Chief by his rightful name … Gillooly
Germany is a nation of dopes.
Their best people emigrate just like Ireland.
I would disagree with you slightly. Most Germans have a very good engineering mind, but that does not translate to economics. There is a reason for national stereotypes in that long observation confirms the bias.
For instance, our mother had the Irish Drinking Gene and passed it on to our 2 brothers. For myself, I fall asleep after 2 glasses of wine.
So you have the Irish Sleeping Gene.
Work on any German car. The Germans have too many engineers but not just cars. Marx was a type of Engineer. Bismarck, Hitler. Merkel.
Time to stop calling it covid and call it what it really is. MAN MADE CHINA PLAGUE.
Go WEXIT
” Had the pipeline gone through, Europe would not have an energy crisis! ”
As a poster above says, it merely moved things ahead. Forced Europe to deal with the consequences of its bad decisions, and backing Ukraine is the right thing to do regardless. Further, when there’s a new Russian regime, they will need a ton of money fast. That means lots of hydrocarbons are getting pumped fast. I warned against going long oil and gas a while ago and I was roughly right. That warning is still in effect.
The ECB’s NIRP policy was indeed insane. Absolutely ruinous. They sacrificed the Euro for the EU’s sake and will save neither. The time bomb next to go off is Italy. Italy is super-Greece. I think that might just be curtains for the EU as we know it.
Thanks for proving that you work for government. You actually think Russia can ramp up hydrocarbon production by government edict. Increasing production requires years of engineering and investment, it is not a valve you open. Oil will be $120 by November, and climbing thereafter. Gas? The sky is the limit. Not being long oil and gas is the dumbest thing to ever emanate from your keyboard, and that is a hard list to top.
Thanks for proving you don’t know that OPEC+ exists.
Ah yes, that would be the group that says they can increase production by a maximum of 100,000 b.p.d? That OPEC+??? Tell me, if you would what global oil consumption in b.p.d. is currently?
Our munitions and our money must go to Ukraine.
https://www.dailywire.com/news/pentagon-tells-struggling-army-soldiers-families-to-apply-for-food-stamps
Like PM Turdeaux in this country, it looks like ‘President’ Bidet has nothing more to give…
Pipeline…smipeline. Germany should not have been doing business with Russia to start with in such a capacity. It totally undercuts the purpose of NATO (which was to keep Russian tanks from deluging through the German Fulda Gap). Giving Russia a controlling hand on petroleum gives them the ability to control Germany from within by effecting their economy. But, more importantly, Germany should not have permanently banned fracking.
Tough one, Fritz. Stupid is as stupid does.
The Existential Threat that’s not.
https://www.americanthinker.com/blog/2022/09/news_flash_there_is_no_climate_change_emergency.html
That pipe line from Israel through Greece, and then Eurdope central could have saved their bacon!
He says “ … China is demonized simply for existing…. “
Yes, bright eyes, China is “ blamed “ for existing as a hostile Communist state. And well they should be blamed.
And China should be “ blamed “, and excluded from western markets for massively violating their WTO obligations by subsidizing their electronics and hi tech industries.
They aim to drive western competitors out of business, as they see dominance of high technology as the means for them to dominate, and exact tribute from, the west.
“and excluded from western markets for massively violating their WTO obligations by subsidizing their electronics and hi tech industries.”
Feel free to exclude them from your own purchases. I will continue to help myself to China’s money. Their silly strategy of driving competitors out of business is doomed.