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26

Germany’s economy is now shrinking

27 comments, 434 views, posted 8:47 pm 15/08/2019 in Business by griffin
griffin has 15623 posts, 2193 threads, 0 points

This news is less than salubrious.

The mood music had grown so ominous that the shock was somewhat muted. After weeks of dismal survey and industrial-output numbers, it was little surprise to learn on August 14th that Germany’s gdp had contracted by 0.1% in the second quarter of 2019 compared with the previous three months. The economy has been essentially flat over the past year. Household spending, bolstered by wage growth in a tight labour market, has held up but the slump in manufacturing, which represents over one-fifth of output, is deepening. Companies are cutting work hours and issuing profit warnings. Many analysts think Germany is heading for outright recession.

This has triggered two debates. First, are Germany’s woes home-made or imported? A year-on-year 8% slump in exports appears to be the main driver of the slowdown. The uncertainty spawned by the us-China trade spat and the prospect of a no-deal Brexit are largely out of the hands of Angela Merkel’s government. Demand for German products in China is slowing. Germany will be badly hurt if Donald Trump follows through on his threat to whack tariffs on car imports later this year.

Extra Points Given by:

REALITY (10), marksyzm (5), tamsnod27 (5), Eavesy (5)

Comments

2
9:03 pm 15/08/2019

griffin

https://www.marketwatch.com/story/europe-stocks-trade-lower-as-german-economy-contracts-2019-08-14

Europe stocks hammered as German economy heads toward recession

Europe stocks traded sharpy lower on Wednesday after data showing the Continent’s largest economy contracted and eurozone industrial production declined.

Down three of the last four sessions, the Stoxx Europe 600 SXXP, -0.29% tumbled 1.68% to 366.15, with banks SX7E, -0.22% including UniCredit UCG, -3.74% and Danske Bank DANSKE, -0.99% lower.

The U.K. FTSE 100 UKX, -1.13% skidded 1.42% to 7147.88, the German DAX DAX, -0.70% tumbled 2.34% to 11482.66 and the French CAC 40 PX1, -0.27% tumbled 2.22% to 5243.84.

U.S. stocks DJIA, +0.39% were hammered at the open, as the 2- and 10-year Treasurys briefly inverted, which historically has been a predictor of U.S. recessions.

1
9:55 pm 15/08/2019

REALITY

Quote by griffin:
and the prospect of a no-deal Brexi

Wait, now there is the prospect of no-deal BREXIT?

Quote:
Europe stocks hammered as German economy heads toward recession

Shouldn't have been such a bunch of cunts over BREXIT.

I wonder if they are blaming the UK? Seen that one coming a mile away.


1
11:26 am 16/08/2019

griffin

Quote by REALITY:
Shouldn't have been such a bunch of cunts over BREXIT.


What do you think the EU should have done? Specifically?

0
6:08 pm 16/08/2019

REALITY

That's about as specific as you're going to get out of me. The cock blockers who wanted to come across as hard asses are now begging for us not to leave without a deal.

0
6:14 pm 16/08/2019

griffin

Quote by REALITY:
The cock blockers who wanted to come across as hard asses are now begging for us not to leave without a deal.


What a wonderful imagination you do have. Perhaps it is that right-wing twaddle you read that makes you believe so?

As I recall, the UK rejected no-deal, and also as a fabulous encore, rejected every single other option too.

But yeah, it's ze chermans.

1
6:44 pm 16/08/2019

REALITY

Oh you're such a little peach.

Quote:
If no agreement is reached in two years, and no extension is agreed, the UK automatically leaves the EU and all existing agreements - including access to the single market - would cease to apply to the UK.
1
6:53 pm 16/08/2019

griffin

Quote by REALITY:
Oh you're such a little peach.


To exacting EU standards.

1
7:00 pm 16/08/2019

REALITY

Quote:
Germany's Merkel to meet Boris Johnson 'very, very soon'

A no-deal Brexit would be in "nobody's interest," according to Angela Merkel's spokesman. But the German government is still preparing for that very possibility, and believes it "highly likely," leaked documents suggest.
1
7:00 pm 16/08/2019

marksyzm

Quote by REALITY:
That's about as specific as you're going to get out of me. The cock blockers who wanted to come across as hard asses are now begging for us not to leave without a deal.

If they were begging, wouldn't they have allowed for changed in the deal by now?

1
7:03 pm 16/08/2019

REALITY

Quote by marksyzm:
Quote by REALITY:
That's about as specific as you're going to get out of me. The cock blockers who wanted to come across as hard asses are now begging for us not to leave without a deal.
If they were begging, wouldn't they have allowed for changed in the deal by now?

Boris is saying talks are over with the EU, Merkel has now arranged a meeting with Boris. If you ask me he's done a good job of at least giving us a fighting chance by forcing their hand.

0
7:28 pm 16/08/2019

griffin

Quote by REALITY:
If you ask me he's done a good job of at least giving us a fighting chance by forcing their hand.


Holy shit, when you go over the rainbow, you don't do it in half measures, do you?

0
7:37 pm 16/08/2019

REALITY

Quote by griffin:
Quote by REALITY:
If you ask me he's done a good job of at least giving us a fighting chance by forcing their hand.

Holy shit, when you go over the rainbow, you don't do it in half measures, do you?



A headless chicken in a barn would hit less walls than you.

0
7:38 pm 16/08/2019

griffin

Boris Johnson is expected to make a diplomatic dash to meet Emmanuel Macron in Paris and Angela Merkel in Berlin early next week as he seeks to break the Brexit impasse.

The flurry of talks come before next weekend’s meeting in Biarritz of the G7, the leaders of the world’s biggest economies, where diplomats expect Johnson to be given a “reality check” as he seeks to lobby the EU to ditch the Irish backstop.

As Johnson prepares to make his European tour, a leaked paper from the German government suggested that his insistence that the UK will leave the EU on 31 October with or without a deal had so far failed to prompt a rethink in Brussels and the European capitals.

A document prepared by officials for the German finance minister, Olaf Scholz,before talks in Berlin on Friday with the chancellor of the exchequer, Sajid Javid, stressed the importance of holding out against any renegotiation despite Johnson’s “tough negotiating position”.

The paper makes clear that while the German government does believe that the British government will carry out its threat, the EU still has no intention of returning to the negotiating table on Johnson’s terms.

Leaked to the German newspaper Handelsblatt,, the German officials who drafted the paper warn instead of a “high probability” of a no-deal Brexit on 31 October as it is “currently unforeseeable that prime minister Johnson will change his tough negotiating position”. But its adds that the EU’s preparations for it are “largely complete” and the bloc should hold its nerve.

Quote by REALITY:
A headless chicken in a barn would hit less walls than you.


We shall see, won't we?

0
7:41 pm 16/08/2019

REALITY

Let me guess, The Guardian?

0
7:43 pm 16/08/2019

griffin

Quote by REALITY:
Let me guess, The Guardian?


I don't think you are in any position to cast stones, considering the barrel bottom sources that you post.

0
7:58 pm 16/08/2019

REALITY

Welcome to the club.

0
8:18 pm 16/08/2019

griffin

Quote by REALITY:
Welcome to the club.


You're entirely on your own there. Do not pretend that anything I post is as poorly sourced as yours.

0
8:32 pm 16/08/2019

REALITY

Quote by griffin:
Quote by REALITY:
Welcome to the club.

You're entirely on your own there. Do not pretend that anything I post is as poorly sourced as yours.


This is the same Guardian who lost £7,000,000 last year and claim they broke even? Claimed us Brits had spent £4 billion stockpiling goods in case of a no-deal Brexit? Claimed children are being “lured into crime by ‘chicken shop gangs’ offering free food“? Buwahaha

0
8:37 pm 16/08/2019

griffin

Quote by REALITY:
This is the same Guardian who lost £7,000,000 last year and claim they broke even?


Doesn't improve your shit sources.

Quote by REALITY:
Claimed us Brits had spent £4 billion stockpiling goods in case of a no-deal Brexit?


Doesn't improve your shit sources. Might want to check on warehouse capacity reports, btw.

Quote by REALITY:
Claimed children are being “lured into crime by ‘chicken shop gangs’ offering free food“? Buwahaha


Doesn't improve your shit sources.

Nothing I post is as poorly sourced as your shite, it isn't even close.

1
8:48 pm 16/08/2019

REALITY

Quote by griffin:
Doesn't improve your shit sources. Might want to check on warehouse capacity reports, btw.

https://fullfact.org/economy/4-billion-brexit-stockpiling-claim-flawed/


Quote by griffin:
Doesn't improve your shit sources.

The difference here is I don't believe for one second my sources are unbiased or completely accurate, Christ this is the internet

1
8:51 pm 16/08/2019

marksyzm

People do think there is stockpiling though. Even if it's not to the amount that's being stated. That causes a bit of a landslide in concern, and that may be the media's fault from many directions. It certainly isn't just the guardian or remainers spouting that stuff.

1
8:52 pm 16/08/2019

REALITY

no you're right, it was the Independent as well

0
9:03 pm 16/08/2019

griffin

Quote by REALITY:
Quote by griffin:
Doesn't improve your shit sources. Might want to check on warehouse capacity reports, btw.


https://fullfact.org/economy/4-billion-brexit-stockpiling-claim-flawed/


Quote by griffin:
Doesn't improve your shit sources.


The difference here is I don't believe for one second my sources are unbiased or completely accurate, Christ this is the internet


No, this is the shit you post. Don't blame that on the internet. You make your choices based upon your clear biases. If you don't believe that bollocks, then why do you post so much of it?

2
11:00 am 17/08/2019

marksyzm

I'm going to have to build you both a special loveshack of your own soon, aren't I

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