To illustrate how damaging Germany’s transition to renewable energies and the green movement have been, news is out that things are worse than we thought. Yet, don’t expect the climastalinistas to acknowledge this. Quite to the contrary, they’ll just blame all the economic troubles on the green movement going to slowly!In reality, though, slowing the economy is what they’ve wanted all along.
Drop is “much more than expected”
Blackout News here reports on how industrial production in Germany has slumped “much more than economists expected in June” and that “many experts expect this trend to continue in the coming months.”
The results are based on data from the Federal Statistical Office released last Tuesday.
Slump to continue
“Alexander Krüger of Hauck Aufhäuser Lampe Privatbank thinks many companies are even more pessimistic than they were a few weeks ago,” Blackout News adds. “Jörg Krämer of Commerzbank expects a further slump in the economy in the second half of the year.”
Germany’s high energy costs driving inflation
Much of the decline in production is due to sectors hard hit by Germany’s energy policies. One example is the automotive industry because its future is fraught with huge uncertainty as combustion engines are planned to be phased out.
High interest rates dampening construction
The construction sector has been hit hard as well as energy norms and heating regulations for homes threaten to make building even more unaffordable to many. High energy prices also have fueled inflation, which in turn has forced bank interest rates up and made home financing unattractive. Building permits issued for new homes are extremely low.
One bright spot has been the the aerospace sector. But overall the coming months continue to appear especially gloomy for Germany, Europe’s largest economy. High energy costs have also led to many companies moving operations out of the country.
According to analyst Jens-Oliver Niklasch of Landesbank Baden-Württemberg, “Industrial performance is rather weak at the moment.”
Until Germany gets back to reality with its energy policies, don’t expect improvement anytime soon. Again, this is what the climastalinistas want.