Record-High Retail Deposits in Germany: result of a lack of financial education \ stacker news ~econ

Record-High Retail Deposits in Germany: result of a lack of financial education

1441 sats \ 25 comments \ @TomK 10 Jul econ

The German government's decision to panic sell its Bitcoin holdings in order to plug some budget holes is also reflected in the savings behavior of German citizens. Blindly trusting in their welfare state and the integrity of the European Central Bank (sic!!!), most of their savings are in cash.

In May, German retail deposits soared to an all-time high of €2.8 trillion. With a third of these assets sitting in non-interest-bearing current accounts, many Germans are forgoing potential investment returns.

https://m.stacker.news/38992

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56 sats \ 2 replies \ @BitcoinAbhi 11 Jul

Germany: "Let's support Ukraine, let's support the oppressed, let's kill our own economy."

11 sats \ 1 reply \ @TomK OP 11 Jul

German politics oscillates between dependency, subservience to ideological apocalypse and absolute stupidity and impudence.

45 sats \ 0 replies \ @BitcoinAbhi 11 Jul

Nicely described. Germany is reaching the zenith of stupidity now!

55 sats \ 1 reply \ @0xbitcoiner 10 Jul

Are these deposits idle money or some kind of deposit with a return?

32 sats \ 0 replies \ @TomK OP 10 Jul

I think the majority are without interest. the Germans only became real interest hunters last year, when 2% interest was paid on call money accounts again for the first time.

79 sats \ 11 replies \ @didiplaywell 10 Jul

What's even more obscene is that the govt was 100% successful at blaming the war in ukraine for all economical failures to all extents. I hate Putin, sure the war took its toll, but god sake what a sack of fiscal perverts

58 sats \ 2 replies \ @petertodd 10 Jul

Well it's the Ukrainian invasion in combination with the fact that Germany got rid of its nuclear power plants. If Germany hadn't done that, they'd still have cheap power, and the war wouldn't be such a big deal.

58 sats \ 0 replies \ @didiplaywell 10 Jul

Both the energy crisis and the war itself don't help, that's for sure. But none of both are the cause of the crisis, things where going south way ahead. The war was the perfect excuse for blame-laundering.

0 sats \ 0 replies \ @TomK OP 10 Jul

Too many 'ifs'... German welfare state slso is way too big.

33 sats \ 7 replies \ @TomK OP 10 Jul

when the mainstream media coined the term putinflation, it was clear to me where the journey was heading. but 90% of Germans can't or won't understand that their green socialism has already failed, and it doesn't take much of a crisis to prove it. this country is in free fall

63 sats \ 4 replies \ @didiplaywell 10 Jul

I'm impressed by how much german media demonizes Milei. It's all barely starting so I can foresee regrets will start in 8 years if we are lucky

33 sats \ 3 replies \ @TomK OP 10 Jul

they only demonize this man because he has pushed through some market economy reforms that these communists can no longer bring themselves to implement. they fear nothing more than the immediate loss of power

58 sats \ 2 replies \ @didiplaywell 10 Jul

Exactly. This are going to be very, very interesting years. What a time to be alive!

33 sats \ 1 reply \ @TomK OP 10 Jul

I'm only sorry because I still have friends and family in Germany

59 sats \ 0 replies \ @didiplaywell 10 Jul

I feel you. Things will get bad for german standards, but that bar is so high I have friends that went to live there and even still have good prospects. And the economical expansion of the eastern side hasn't even started yet, there's not going to be enough people to cover all jobs. What distresses me about it is that such a lavish economy will ensure degenerate bureaucrats a life like nobility at people's expense without ever being held accountable for it, but germans called it upon themselves...

65 sats \ 1 reply \ @Bell_curve 10 Jul

Jen Psaki, press secretary in 2022, said Putin price hike

13 sats \ 0 replies \ @TomK OP 10 Jul

another human piece of shit

125 sats \ 3 replies \ @Coinsreporter 10 Jul

Germany isn't actually realising what's good for them. They are really going blind.

12 sats \ 2 replies \ @TomK OP 11 Jul

sometimes i'm not sure if i should feel sorry for the germans or just hate them. the years if not decades of propaganda, the left and green ideology that has been drilled into their brains from their school days through to the mainstream media and the terror that anyone who breaks away from this opinion process experiences is quite disturbing. but having to project their moralization onto the world makes them obnoxious to me again

45 sats \ 1 reply \ @Coinsreporter 11 Jul

obnoxious Is a right word to describe my feelings for the government as well.

0 sats \ 0 replies \ @TomK OP 11 Jul

I have a few other words to express my feelings about the launch, but then I'll probably be banned here

46 sats \ 1 reply \ @037447d9ca 10 Jul

It would be better to compare retail deposits as a ratio against, say, M1 or whatever. Otherwise it's always a constant all-time high with nothing to compare past performance.

0 sats \ 0 replies \ @TomK OP 11 Jul

yes, you could adjust these deposits with m2. but i think that would make it even more noticeable, because m2 has stagnated more in the eurozone in the last two years, if i remember correctly. that makes this language behavior all the more grotesque

45 sats \ 1 reply \ @SatsMate 11 Jul

The politicians who made these decisions are set, the sad thing is the laymens & wage earners are the ones who are going to be left behind because of the decisions of German Bank leadership.

1 sat \ 0 replies \ @TomK OP 11 Jul

What many people need to learn is that politicians are not there for the people. Politicians create their own sphere of power, secure it through the media and expand their bureaucracy so that they can continue to bleed the private sector dry. Politics is business