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The eurozone is doing badly. It was not least the French Finance Minister Bruno Le Maire who warned a few weeks ago that the Union as an overarching institution was facing immense financial problems. In short, the European Union is also facing immense economic turbulence, as it has shot itself in both feet economically with the Russian sanctions and forced deindustrialization. Capital is fleeing the continent. Main destination: the USA where the onshoring of manufacturing is getting real steam.
It is worth taking a look at the heart of the euro economy, Germany. A coalition of incompetent socialists, green ideologues and would-be liberals who have submitted to the socialism of their time, squinting for office and 'honor', has been in power there for several years.
Now the Bild newspaper is reporting a new financial shortfall of around 60 billion euros, and of course this gap will continue to widen, as we know our socialists in Berlin, who are real balance sheet tricksters but know so much about economics and budget management like a golden retriever from baking pizza.
But why is that? At the beginning of the year, Berlin raised taxes for tolls, gastronomy, the CO2 levy, a plastic levy and flight taxes. The German commie state is swimming in money, has a welfare state that is unrivaled anywhere in the world and demotivates anyone who wants to get up early in the morning to do something with gifts to lazy people and illegal immigrants who succesfully located the stupid German bureaucracy as a little paradise of easy come, easy go....
Germany's plunge into permanent recession and the dismantling of its core industrial sectors is the result of a well-known ideology that trusts centralism more than decentralized market economy processes. This implies an enormous gain in power for a political would-be elite, which is now largely detached from reality but can operate unharmed and well-protected by the mainstream media. One wonders where the voices of the real elites, the cultural creators of freedom, the entrepreneurs are hiding, instead of rebelling and demanding a return to sensible administration of state affairs, we are witnessing the silencing of an entire people.
Germany is already in recession, and its ideological green-socialist aberration will lead the eurozone into serious turmoil. This is the responsibility of all the political players who ignore the signs of the times and bask in their petty offices.