🇩🇪 GERMANY'S ECONOMIC DISEASES
Once Europe's industrial giant, Germany's economy has shrunk by 5%, and Bloomberg Economics warns that 4% of that decline could be permanent.
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What's causing this decline? A perfect storm of bad energy bets, over-regulation and over-interference from the EU.
Germany has shut down nuclear power plants, spent €200 billion on renewable energy and still relies on coal for 40% of its electricity.
Energy bills are exorbitant, with taxes making up the bulk of the cost. Meanwhile, EU policies, such as the ban on petrol cars as part of the 2030 climate agenda, have weakened Germany's once-proud auto industry.
Add to that stifling regulation, and even German ingenuity can't flourish. Patents pile up, but few are turned into products.
Politicians insist that this mess will be sorted out, but without bold change, Germany risks trading its status as a powerhouse for mediocrity.
Source: Zero Hedge
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