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German Debt Spiraling Out Of Control Due To Recession
2287 sats \ 17 comments \ @TomK 5 Sep 2023 bitcoin
For the upcoming year, interest expenses are expected to reach approximately 37 billion Euros, a tenfold increase compared to 2021. The interest costs in the budget are now twice as high as the education and research ministry's allocation.
The German state debt reached an all-time high in the first quarter, increasing by 1.6% to over €2406 billion. Federal spending is rising by 7.7% this year so far. The ECB printer will be running hot soon!
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33 sats \ 4 replies \ @fredosha 5 Sep 2023
Germany's total public debt reached €2.37 trillion (roughly $2.6 trillion) at the end of 2022, which is a new record high. In the first quarter of 2023, Germany's government debt hit a record high of €2.4 billion ($2.63 billion). The government debt in Germany increased to 2406594.11 EUR Million in the first quarter of 2023 from 2367687.16 EUR Million in the fourth quarter of 2022. The government debt to GDP ratio in Germany is expected to reach 67.80 percent by the end of 2023. These figures indicate that Germany is facing a significant rise in debt.
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133 sats \ 3 replies \ @TomK OP 5 Sep 2023
And now You need to add hidden obligations out of their gigantic social security ponzi schema that they loaded up with millions of migrants that will never contribute one cent in their lifetime. Rising military budgets, Target2 - credit risks of the european south etc etc... doesn't look too good. No cinderalla story to be seen here!
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0 sats \ 2 replies \ @fredosha 5 Sep 2023
The bubble is about to burst open!
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0 sats \ 1 reply \ @TomK OP 5 Sep 2023
Do You watch energy prices today, eur/usd and yields? Oh oh oh
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0 sats \ 0 replies \ @fredosha 5 Sep 2023
It is really pathetic.
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33 sats \ 3 replies \ @faithandcredit 5 Sep 2023
Who is in charge of this managed decline? What is the end game? What is their goal?
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1 sat \ 2 replies \ @TomK OP 5 Sep 2023
Think of it as Davos' icebreaker and forefront. The climate narrative is moving the capital but now they realize that it's not working and start doubling down. End game? A deep economic depression with consequences for the Eurosystem.
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10 sats \ 1 reply \ @carlosfandango 5 Sep 2023
How much importance would you give the German nuclear ‘switch off’ to this?
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0 sats \ 0 replies \ @TomK OP 5 Sep 2023
It's the nucleus to understand the whole crisis: You can't run Your own currency successfully without an accepted collateral. And this needs to be energy or something scarce. The Europeans only have their moral - and it won't be accepted in future global markets.
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33 sats \ 3 replies \ @carlosfandango 5 Sep 2023
Terrifying. Germany (like a lot of industrial nations) cannot just cut, grow or tax it’s way out. And the European economy (as a whole) has no way out of its liabilities nor its dependence on the German economy.
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43 sats \ 2 replies \ @TomK OP 5 Sep 2023
Exactly. Did You see PMIs falling like stones in G and the Eurozone??https://twitter.com/Schuldensuehner/status/1699008215277597030?t=jiQC-fhmqKy09T33HIQUOw&s=19
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0 sats \ 1 reply \ @carlosfandango 5 Sep 2023
I really don’t want to know how low it can go… 50 seems a long way off
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10 sats \ 0 replies \ @TomK OP 5 Sep 2023
In Northrine-Westfalia, biggest state and manufacturing center, the industry is collapsing. It's a looong way ahead. https://twitter.com/ITNRW/status/1698933761511968806?t=AVTMjGpAYLmwTUeaWZwrqA&s=19
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10 sats \ 1 reply \ @xz 5 Sep 2023
Isn't it a bit of a joke that nearly all significant economies are (apart from Russia perhaps.)
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0 sats \ 0 replies \ @TomK OP 6 Sep 2023
Oooh. You're not allowed to even mention this in the best Germany that ever existed! (El presidente)
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0 sats \ 1 reply \ @Ribbit 6 Sep 2023
everything is under control
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10 sats \ 0 replies \ @TomK OP 6 Sep 2023
That's for sure! The 5-year-plan will fix anything.
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