Friday, September 9, 2016

It's catching up

Gotta catch up on all the news I haven't been giving you, or else you'll think this blog has been closed down in favour of a more professional blog on economics somewhere else or something.

Here's Schauble being a clueless rightwing fuckstick, yet again:

Reuters - German industrial output drop steepest in two years. Here's the reality:

German industrial production fell the most in 23 months in July, data showed on Wednesday, another sign that Europe's largest economy is set for a slowdown.

Wednesday's data, published one day after a surprisingly weak rise in industrial orders, added to worries that the German economy is losing steam, as exports suffer from lower demand in emerging markets and concern grows about Britain's decision to leave the European Union.

"Companies in the industry sector continue to adopt a wait- and-see approach because of sluggishness in the global export markets," the Economy Ministry said in a statement.

Industrial output fell by 1.5 percent in July from June, the data showed, far below the consensus forecast in a Reuters poll for an increase of 0.2 percent.

and here's the magical unicorn-arse rainbows world of Schauble's fucking clueless reaction:

Finance Minister Wolfgang Schaeuble, a conservative, has promised tax cuts for low- and middle-income households after the 2017 election. But he has ruled out new debt to finance investments, sticking to his balanced budget policy until 2020.

Germany can borrow at 0.5% for thirty fucking years. There is no reason to fixate on debt reduction when German demand is collapsing and their EU "friends"' demand has collapsed even worse.

If you're not investing when you're offered 0.5%/y for 30 years, you're a clueless fuckstick.

Schauble is not investing when he's 0.5%/y for 30 years, so therefore Schauble is a clueless fuckstick.

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