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Tag Archives: Germany
Germany’s Best Option is to Leave the Euro, Says JPMorgan
As the cost of a euro-zone break-up continues to rise exponentially, JPMorgan has concluded that Germany’s best option is to leave the euro. With German taxpayers outraged by the dangerous rise in credit risk resulting from a plethora of backdoor bail-out schemes, carrying on regardless now looks politically suicidal for Chancellor Merkel in the wake her party’s worst state election result in Nordrhein Westfallen since the second world war.
Posted in Bond markets, Economy, Politics, Uncategorized Also tagged banking crisis, Bundesbank, Greece, Italy, JPMorgan, Spain, Target2 Leave a comment
Solar Power Has Been Totally Eclipsed by Gas
Generous solar subsidies were never going to survive in an age of austerity and cheap natural gas. Nowhere is this more apparent than in Germany. Solar energy was supposed to herald a new age of clean energy, and provide thousands of green jobs, but not a single solar manufacturer is expected to survive there. With governments elsewhere, like Italy, also ending their tax payer funded bonanzas, the industry is facing total collapse, globally.
Posted in Commodities, Companies, Global Warming Scare, Uncategorized Also tagged First Solar, Italy, solar energy, US Leave a comment
Looming Electricity Shortages are Killing Jobs in Britain
Disadvantaged by carbon emissions regulations, the developed world is losing jobs to the developing world at an alarming rate. But nowhere is investment more threatened by energy policy than in Britain, the only country in the world which is committed to closing down virtually all of its economy, so that it can cut emissions of carbon dioxide and other greenhouse gases by 80% of 1990 levels by 2050.
Posted in Economy, Global Warming Scare, Uncategorized Also tagged chemicals, China, energy crisis, Japan, nuclear energy, pharmaceuticals, UK, wind energy Leave a comment
The West’s Manufacturing Continues to Pay for Green Gesture Politics
The true economic cost of Western government’s obsession with fighting global warming is becoming increasingly apparent. News that a fifth of the UK’s soaring energy bills now consist of hidden environmental subsidies has brought home the cost of Britain’s economically suicidal commitment to reduce CO2 emissions by 80% within 40 years. It can’t be long before there is a political backlash from consumers and industry against the West's green gesture politics.
Posted in Companies, Global Warming Scare, Stockmarket, Uncategorized Also tagged China, climate, coal, EU, fuel poverty, manufacturing, renewable energy, steel, UK Comments closed
Eurozone Governments May Need To Bail Out Municipalities
A lot has already been written about the risk to municipal bond holders in the U.S., as a growing number of states face severe fiscal problems. But local government debt is an even bigger threat in Europe - where it could force governments to assume the debt, putting further pressure on sovereign bond spreads.
Posted in Bond markets, Currency Markets, Economy, Uncategorized Also tagged bonds, EU, Euro, Greece, Italy, municipal debt, Spain, US Leave a comment
The IMF Is Turning Into A Monster
It’s been apparent for some time that the IMF is no longer an independent institution but an arm of the European financial elites. With Dominique Strauss-Kahn at the helm when the financial crisis hit, Germany and France have cynically been able to use the IMF for their own ends, dropping ever larger sums into the EU with ever fewer conditions, to protect German and French banks that have huge exposures to the PIIGS. Angering the very same Asian countries that were dictated to by the IMF in 1997, and who are now being asked to pay the bills, and stretching US patience to the limit, it is all likely to end in tears.
Posted in Bond markets, Economy, Politics, Uncategorized Also tagged Asian Developing Bank Fund, ECB, France, Greece, IMF, Ireland, US Leave a comment
Update: Germany Heads into the Double-Dip Zone
As the Angry Analyst warned, the fiscal austerity being implemented in Greece and the other Club Med countries would soon be felt because Germany has been relying on exports to these countries – not China – for growth. Economic sentiment, as measured by the ZEW institute, collapsed in September. This is particularly significant, because as can be seen from the accompanying chart, it leads the other key indicator produced by the IFO institute. And where this indicator leads, German industrial output is sure to follow.
Posted in Bond markets, Companies, Economy Also tagged banking, bond market, Deutsche Bank, Deutsche Postbank, double-dip, Greece, manufacturing, sovereign debt crisis Leave a comment
More Evidence of German Banking Untruths
As if further evidence was needed that the German banks have been lying about the true state of their balance sheets, and that a German banking crisis is in the offing, we learn that German mortgage lender Hypo Real Estate will receive another €40 billion of state guarantees.
Posted in Bond markets Also tagged banks, Hypo Real Estate, Ireland, sovereign debt crisis, stress tests Leave a comment
The Game is Up for the Commodity Super-Cycle as the Yo-Yo Years Begin