Germany’s economy expected to dip into recession as Green policies backfire.
Since a coalition of the SPD socialists, Green environmentalists and FDP liberals took over the government in late 2021, the German economy has been declining and business confidence eroding.
Degrowth
Today Blackout News reports that the German socialist/green/liberal government has revised its economic outlook downward once again.
Recall that in 2021 the economy recovered strongly, with GDP growth reaching 2.7%. But at the end of the year, the socialists, greens and liberals took over, pledging to implement a green revolution. Almost immediately the economy slowed to a growth of 1.9% in 2022 and an anemic 0.1% in 2023.
But nothing to worry about, Germany’s economic minister Robert Habeck (Greens) insisted. The malaise was all Russia’s fault, and Germany only needed to stay his green course. The troubles, after all, have little to do with Germany’s skyrocketing energy costs and his green policies. Things will surely improve.
Back to recession
Well, they haven’t. And today, things are getting worse by the minute. According to Blackout News:
Germany’s economic situation has deteriorated drastically this year. Instead of the expected growth, Economics Minister Robert Habeck is now forecasting a decline in economic output. Originally a plus of 0.3 percent was forecast, now a minus of 0.2 percent is being calculated. These new figures reflect the serious situation of the German economy.”
Habeck promises growth – starting next year!
Now, Habeck, who has no financial or economic education at all – see below, wants us to forget 2024 and is promising 1.1% growth for 2025 and a ruddy 1.6% for 2026. Habeck said in a recent interview. “The growth initiative of this federal government is a necessary first step.”
Minister is confident that the German economy will be able to grow more strongly in the coming years if his measures are fully implemented.
Grim future for the Greens
Habeck’s promises haven’t panned out in three years. yet he expects us to believe they will beginning next year. The air is getting very thin for Habeck, his fellow Greens and Socialists. Next year federal elections are taking place and the polls look as grim as the economy.
The liberal arts economist
Economics Minister Robert Habeck studied German language and philosophy and received a Masters Degree in literature and philosophy in 1996. He was awarded doctorate in 2000 and joined the ALLIANCE 90/THE GREENS in 2002. Today he is Germany’s Federal Minister for Economics.
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THe GHE is 100 to 1 overstated, as 99% of the energy GHGs absorb are thermalized to establish local thermal equilibrium at each altitude, leaving only 1% to radiate.