Germany's Economic Crisis Explained
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- čas přidán 30. 05. 2024
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Despite being the fourth largest economy in the world, Germany's outlook is deteriorating as they fallen into recession in May. So in this video, we'll examine the German economy, why it's currently stagnating and whether it will recover any time soon.
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1 - www.economist.com/business/20...
2 - tradingeconomics.com/country-...
3 - data.worldbank.org/indicator/...
4 - tradingeconomics.com/germany/...
5 - tradingeconomics.com/germany/...
6 - www.ft.com/content/088d3368-b...
7 - / 1
8 - www.bruegel.org/blog-post/und...
9 - www.ft.com/content/0f69c038-b...
10 - www.thelocal.de/20230724/why-...
11 - www.iamexpat.de/expat-info/ge...
00:00 Introduction
01:09 Germany After Reunification
04:36 Germany’s Economic Stagnation
05:07 What’s Gone Wrong?
07:51 Brilliant
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire..
An obvious way to invest for an inflation is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumers staple, utilities and healthcare companies. But of course, such decisions can’t be made by an average joe, a financial advisor is highly recommended in making this decisions..
I curiously made a research of his full names after reading what you shared, I came across his web-page online. My portfolio suffered a big hit, holding it further won’t be any good. I’ve heard of people netting hundreds of thousands this red season I’m really glad to see this…
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@@andymarionwhat do you mean?
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
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Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
Regarding the low-wage jobs, there is a joke in Germany of the chancellor saying „we created millions of new jobs“ and some guy answering „I know, I have two of them“ 😂
LoL, under Trump a lot of American's said the same thing
Many people need 3 or more to survive.
@@crassgop "given that wages were rising"
ah yes, from 6 dollars an hour to 8. grand economic miracle. and inflation increased under trump.
besides, declining unemployment was started by obama, trump merely took credit for it.
@@crassgop wages rose during trump because blue states increased minimum wage, 😂😂😂😂 at thinking trump is responsible, you’re a 🤡
@@boarfaceswinejaw4516 Please. Obama inhereted a completely demolished economy that was trivial to fix by just getting out of the way -- which he refused to do for pretty much his whole term. The economic did recover under Obama, but it was in spite of him. Meanwhile under Trump, we saw historically low unemployment. It's way harder to go from a B- to an A than it is to go from an F to a B-
Long story short: the country is still in a good place but years of complacancy, taking the most convenient option and kicking the can down the road is starting to come home to roost. And the core question is if the country can find the coordination & discipline to accept the bad choices that have been made in the past and now make the sensible investments it needs to or not.
Agree, which bad choices?
The only problem the Germans have today is cheap Russian energy that's gone for good, and nothing can replace that, buying from other countries it's not the same as opening a tap and it's there, RIP German economy
@@gnrseanra9070for starters infrastructures!!! A real immigration policy (green cards etc.) investments in education and researching.
So much to do… and of course renewables
Nicely said.
Energy Policy is a big part. Phasing out Nuclear during an Energy Crunch and relying on expensive Coal is really hurting the industry.@@gnrseanra9070
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Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
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Being a manufacturing economy leaves you at the mercy of energy prices and complex supply chains.
it would have helped if they didn't shut down there nuclear power stations
@@Tree_a_Boaryeah, tell that to our environmentalist saving-the-world government... It's not like the majority of people here think it's a clever choice - and not even that many politicians I guess. Different country l, same shit...
@@Tree_a_BoarSurprisingly no, it wouldn't have helped. After the coup in Niger, one of the few places that produces Uranium, the price for Uranium has gon up significantly. And nuclear power was only cheap because of heavy subsidies the power industry got.
@@arnewengertsmann9111 thank you for providing this information, i was unaware of that the nuclear industry was heavily subsidised
@@Tree_a_BoarYou are very welcome. If you are interested, you can find further information as well on the websites of the the ministry for economy, if they haven't removed it, or on several environmental sites.
As an Italian (northern Italy bust still) I went on holiday in Germany and I swear I was left utterly speechless but the inefficiency of Germany's local trains. In Piedmont they are not perfect by any means, but at least you can count them to arrive within a 10 minutes delay 95% of the time... In Baden it was quite the opposite.
Same experience here. I went to Nordrhein-Westfalen last week and I was aghast to how bad local trains where. I've seen DB literally hopping trains from one platform to another at least 4 times in the span of a minute, only to then rack up tens of minutes of delay for no discernible reason. Everything was messy - the ticket machines are years behind what we've got in Italy, most of them don't even have contactless for instance, once I found one that didn't even accept cards. I frequently commute by train in Emilia-Romagna and the service in the Köln/Bonn area felt like riding Trenitalia from the '00s.
You lack knowledge on the subject matter. If you did research you would know that German politics is dominated by car manufacturers that openly oppose public transit.
@@zeitgeistx5239, "Die Bahn" is run by the government, car makers are private companies. 🤷♂️
@@zeitgeistx5239 I don't see how OP a has claimed any knowledge on why trains in Germany are like that - to me it feels like he just started his personal experience, that's all.
seems like expectation bias. Yes the DB has huge problems, no question about it, but the expectations for everything german seem to be astronomical.
In fact this year around 92% of german trains arrived within a 5 minutes delay and 98% within a 15 minutes delay. Bad luck to catch the one with an hour of delay, but its just not true that this is the norm.
Dont get me wrong we wish it was better, we really want the DB to be one of the best, but at least its not the worst as some people claim.
No one can be a better judge of Germany's inefficient trains than Ben.
True empiricism :))
3:31 Aq 3:33 a 3:34 `😂🎉Y😢 3:33
His mustache gives even more authority.
as someone living in austria i am always amazed by how terrible Deutsche Bahn runs, the second you cross the border
As someone living in India, I'm impressed by how Deutsche Bahn's trains have doors that close
I think it says a lot about how I consider British trains better and more reliable than German ones
@@prateekbhurkay9376Are you really from India? If you’re really Indian, you should know the Vande Bharat trains have doors that close automatically and can’t open until the train driver opens it upon reaching the next station.
@@alexandertruuvert2037 yeah, but no, your railsways are in better shape than ours. Most of your trains are from German companies 😅
And our railways won’t get better because the DB should be as economical as possible, but they have to pay for repairs at the tracks, but if the let it get completely broken the parliament pays for it…
@@artman12 yes I'm from Mumbai and our doors don't close in the local trains. Also relax dude, it was a joke 🤣
Lack of investment in infrastructure, like rail and Internet, coupled with a stupid (criminally so) energy policy that has lead to some of the highest electricity prices in Europe.
The Marshal plan was definitely not about under investments.. wake up.
@@metalicminer6231in Germany it wasn't been used for giving away huge sums of money either. It was used in order to keep giving companies cheap loans. Therefore we still have the money from the Marshall plan
@@tobiasbauer198 meanwhile England are still on rations.. 🤣
DeNuclearising was a stupid idea
lal the marshal plan was fuking drop in the ocean....wake up....1,4billion dollar for germany :D the message was the important part not the friggin money....yes inflation adjusted it ~15 now still thats nice to have but you cant fund shit with that... @@metalicminer6231
We’re always hearing that income inequality is getting worse. Is that the case?
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All the Germans hate DB, and I never understood why, until I traveled to other countries (shocking for me was the Italian trains that are actually pretty good! Congrats pasta-friends)
I once wanted to go home and entered a DB train that was running in switzerland hopped on it.
The train forgot to stop at my station where I needed to change train.
So they made an announcement that they would stop the train in a small village to take the train back to the city.
Lucky for me I lived in that small village saved me 35mins.
So…most people were mad at the DB I was happy.
I‘m just saying there is always some positive aspects once in a while.
Pasta friends? Wow, you really need to improve your style.
I live in France, and I often travel in Germany. I can also confirm that French TGV is way better than DB in every aspect.
they hate dragon ball? why lol
Germany became largely rich not only due to their innovation and know how but also due to 70 years of cheap Russian energy inform of oil, gas and coal. That's has now changed
CORRECT !
Germany had 15 gigawatts of free nuclear electricity which they destroyed, 40 years of domestic natural gas on which they banned fracking, and billions of tons of coal on which they pass crippling carbon taxes and future bans. This is self inflicted suffering.
@@gregorymalchuk272 still, mining is Germany cost ten times more than in Russia for instance. Their nuclear fuels came also from Russia, remember most nuclear power plants were in former east Germany. The Russo German partnership was a sure win win until uncle Sam became uncomfortable with it and vowed to break them apart of which I think they are succeeding or have succeeded.
Bye bye cheep gas 😂😂😂😂…greetings from the US ❤️
@@felipe-vibor Germany has shale gas, so the cost above extraction is zero, they just ban it. Netherlands, UK, and Norway have proven it possible to extract gas in the region. Uranium is a globally traded commodity, cheap, and only represents a small fraction of the cost of nuclear electricity. Germany actually has uranium deposits and mines.
You missed one key factor. Germany is short of both, cheap and skilled labour and things are getting worse. E.g. there is an official shortage of 30k teachers but experts say 100k. Same here with public services (300k) from soldiers and policemen to tax collectors, judges, and administrative personal. Industry is whining about a lack of STEM, crafts don't find apprentices, hauliers are short of 100k HGV- drivers, and staff is leaving healthcare to a degree that Germany is importing nurses from Mexico and Vietnam. All Germany has plenty of are youtubers and stand- up- commedians. Germany is second only to the UfSoA in immigraton but fails to recognize foreign qualifications. It's overregulated to a degree that it takes 10 years to liscence a wind turbine which takes two weeks of construction. An english teacher from Syria said that it took him 4 years of struggling with various authorities to get his qualifications recognized. It's no wonder that Germany is in a recession for external reasons, but it is a wonder, that it had growth before the pandemic for internal reasons.
Ah yes the mysterious 'Fachkräftemangel' that Germany alegedly experiences since 20-30 years. To me it always rather sounded like "we don't have enough qualified workes who are willing to work for the money and conditions we're offering ... but we're not changig sh*** in this department!" It's not that noone wants to become Nurses etc. it's that being a Nurse has incredebly shitty hours and working conditions so it's understandable why people would rather get a tech sector job.
But hey that's just my impression.
I've seen various videos talking about how many migrants are disappointed with Germnay and wouldn't recommend moving there. I mean, tons make it work. But tons don't. I think the US is normally a better option for most. It's a country founded on immigration and has people across the globe. In some cases, it is only 2nd to the home country for groups of people in terms of population for said ethnic group. There is normally something for everyone. America has race issues but is typically more open to foreigners than many Old World nations with more homogeneous populations. Also the culture is typically easier to assimilate into. Many Hispanics from Latin American take part in the US military or work as police officers. And their kids and grandkids typically fit in quite well. The studies I've seen show many migrants to Germnay and several other European nations don't assimilate as well and basically stick within their own groups as much as possible and have low interest in military and police work. It shows that migrants to these nations don't really have much love or desire to support these nations that accepted them and just see it as a way to make money. America has a lot of issue. But I always thought they along with other New World nations had the best environment normally for migrants globally. Again both Germany and America have their strengths and weaknesses in this regard. But I would say the American model is better.
@@baronvonjo1929 I assume it makes a difference for a refugee if you go to the US by choice or if you end up in Germany by chance.
I agree that Germany has long been living on borrowed time.
Germany is not running out of workers. They are running out of employers willing to pay enough to attract workers.
Just raise the wages and shortage will disappear. Hmm why is there a lack of nurses? Maybe because they make only 2k€ after taxes, and most nurses are from poor asian countries where they would make only 300
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
Yes, many people are making six-figure profits during this downturn, but such techniques are generally successful when implemented by those with extensive market understanding usually experts or advisors
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Things missed on video about German economy
1. Transition from internal combustion engines to EV cars
2. Aging society and workers shortage.
3. Lack of digital infrastructure
1. That is powered by?
2. Tax breaks for families?
3. Really?
Where has my post gone?
Okey Dokey it's back.
@@gnrseanra9070 A few weeks ago Germany cut back its annual budget for digitalisation from € 377 million to € 3.3 million. This is not a typo.
@@gnrseanra9070
3. Really. I live 50km from Frankfurt. In a town populated by about 30k people. When I needed to get internet at home, I had to wait 6 months for technician to come, on top of that internet speeds are limited and for someone who works often from home, this is something that I notice. Phone reception is also not the most stable.
cheap gas and oil was helping Germany's economy to thrive !! you don't say!! :O
He actually said it? Go back to bed
@@StayPrimal "you don't say": used either to express surprise or lack of surprise in a humorous and slightly unkind way
@@StayPrimal learn the meaning of sarcasm dude
@@pessimisticbengali265you're sarcastic to yourself??? Good to hear it dude 😎...
@@klausschumacher7126 good. Now enjoy your recession Klaus
The bit about the trains is very stark. In the last 10 years the UK and Germany have effectively swapped places when it comes to the quality of train services, even if the UK is very expensive. And then there's Italy and Spain that have utterly blown other countries out of the water with their railways.
The home of capitalism and the free market, the US, going full isolationist and virtually blocking trade is definitely a huge blow to the German economy. The US used to be the most important trading partner outside the EU. Especially since China is trading less with Germany as well due to their weak economy.
I'd say the UK is the home of capitalism and the free market... not the US. Americans have always been quite protectionist, and capitalism wasn't born in the Americas either....
@@carlomontecarlo7881Americans like taking credit for everything, that's why so many of them will tell you that they somehow invented capitalism. No single country invented capitalism, it evolved over centuries, however if we were to try and pinpoint a country as the home of capitalism, it would be the UK, and the Netherlands deserve a mention as well.
It was meant sarchastically, obviously. Throughout most of its history, the US has been isolationist and extremely market interventionist. In fact, one could call the US a socialist country considering the huge amounts of taxpayer money they pour into corporate welfare, bank bailouts and taxcuts for the rich.
@@williamduke9630 I wasn't trying to attack you personally, just sharing a personal experience I've had with multiple Americans.
@flavio7180 Yes, in terms of innovations (banking sector/commerce, etc.), I'd say it all started in Italy, Germany, Belgium, the Netherlands, and the UK. :)
Why anyone would buy a German car, when you can buy a Korean car with the same options, for half the price, is beyond me.
and the german one breaks a lot and is expensive as hell to repair. but Toyota products, Lexus
Bro just called our public education system "impressive", it is completely in shambles my guy
It used to be impressive at least :/
i dont get it, if germany isn't impressive then who is?
@@franknwogu4911 Switzerland
compared to others it's still pretty decent but still far from what we could have
europeans think the world is just western europe and the usa@@ipsojure2137
I would love to swap my countries economy for the german one in crisis
Which country are you from?
@@firstnamelastname7941 bosnia and hercegowina
@@NeroPiroman Fair enough.
@@NeroPiroman You have stretched food banks as well?
@@gnrseanra9070 we have streched everything, which is why tens of thousents of people migrate to germany to find work yearly
They relied on 3 things;
1- Undervalued Euro thanks to eastern Europe. They are trying to supress the value of Euro still but it can only go so far that now their export markets are putting up tariffs to make up for the margins
2- They siphoned off all the working age population from Eastern Europe but now Eastern Europe is also running dry. Maybe Ukraine might help
3- Chinese demand. But now Chinese caught up with their game so demand for German goods isn't picking up
This should be the topic comment. These are the three most important points. I will also say inordinate access to capital due to capital flight from "PIGS" countries in the 2000s and 2010s and ability for German companies (with ample cheap capital) to scoop up companies on the cheap in Eastern and Southern Europe.
I know it's not politically correct (but it is correct) to say, but Germany and German companies have done very well from the euro and the debt crisis of southern European countries.
@@ericburton5163 Not only that, Germany caused the debt criseses in south Europe.
Only one in three german trains was late? I could swear that it's actually the other way around, only one in three trains was actually on time
That's because the DB sees a 10-minute delay as "on time"
@@bananenmusli2769 And trains that don't arrive at all are also not counted as delayed.
DB is really bad!!! I gave up using it!!! Good thing in Germany is easier and safer than USA to bike 🚴🏻 😊!!!!
@@LukVik Why do you talk about the USA now?
@@bananenmusli2769 Because I lived there for 6 years!!!
Saying the German education system is one of its strengths is laughable. I was brought up under it from the late 00s to 10s and it was rotting away at every level. Teachers are lacking and thus missed lessons are a given any week. The teachers that are still there are mostly older, thus more often ill, further increasing coverage problems. A lack of computer literacy among said older teachers would also be a problem, if there had been any (the main electronic device used were Overhead projectors or Polylux as they are called here). I went to a Gymnasium (the higher form of secondary education available in Germany) and the situation was still this bad. Gymnasiums are however the 'lucky' ones who get increased attention, so I don't want to imagine what my peers in Realschule or Hauptschule must have gone through
All those problems may be real concerns, but I can guarantee you it's still one of the top 20 best systems in the world today. You Europeans often have no clue how bad it can actually get.
@@cxzact9204 Yeah sure, it's probably better than in Africa or Latin America (colonialism and neo-colonialism goes brr) but other self proclaimed 'developed' nations aren't managing anything better? As TLDR pointed out the German economy and it's success runs on austerity measures for twenty years by now, other countries in Europe gave up on that eventually and must have invested in their social sectors.
@@cxzact9204that is probaby true, but one of the big challenges for any government in Germany is the digitalization, it's only slowly getting ahead in terms of internet speeds, but Schools and public services have some serious problems when's it come to that.
And because the future is digital this is a big problem for the economy on top of the heavy German burocracy, because the students (= future work force) don't have any/enough tech skills and it's very hard to do anything offical electronically, EVERYTHING has to be on paper And ussualy in person.
The public offices still work with fax machines a lot of the time and even if you can fill out a form online, they have to print it out and work with the paper.
Since 2010 every government said NOW we're investing in digital Programms.
Also most schools have to be renovated. I've even gone to a shool where (parts of) a building were on the brink of collapsing. This is not sustainable, if there won't be a HUGE investment into the education system Germany will fall behind.
@@artoriastheabysswalkerIt's not just austerity measures but the impossibly high barriers to business entry, the profit killing regulations regime and silly ideologically driven mistakes like relying on a foreign dictator for gas rather than extracting EU fields and shutting down nuclear power, both in the name of vain environmentalism that made German energy prices some of the highest in the developed world *by choice* Rheinmetall and VW could both be triple their current size if the German government just allowed it.
@@cxzact9204 I agree on the Gas situation and the nuclear one. Furthermore the CDU/CSU focus on the 'Schwarze Null' (black Zero), effectively Deficit plateauing also hurt Germany in the long-term. But larger companies wouldn't really solve the problems of the German economy, at least not the societal ones. Both VW and Rheinmetall have enormous influence on the political scene in Germany, the FDP and CDU/CSU are little more than lobby clubs for them and other large companies like E-on, RWE and more. Both the SPD and Grüne meanwhile have shown that they do not possess the backbone to oppose these companies. What the German economy and society would really need are stronger unions and a focus on social jobs. Companies are largely fine, the consumer, patient and student are the victims of the Germany economic model. A reigning in of major companies by stricter trade laws and redirection of new, higher business taxes towards social programs would be real, long-term solutions.
I can personally attest to the lateness of German trains. So far I've never experienced a significant delay when I've been in the UK, France, Switzerland or Italy. I genuinely don't know what the hell is going on with the German train system but it's worse than anywhere else I've been, which seems extremely un-German to me.
Have you looked at the network map of the German train system? It's far more complex than the relatively centralized net of France for example. Much more difficult to manage.
Another thing thats really hurting is consumption. The whole german austerity spiel isn't just a government thing.
Inflation lead to people not paying for things out of fear or even spite
Tired of the German austerity 😢 this posture is costing us development. Now a days the open market position of Germany is hurting Europe, we need to invest more in us in autonomy and resilience a war is in the way with China Taiwan no dought about it last week a tv series of episodes started in china the series is about the readiness of China army to go to war with Taiwan. Interviews with military service man , military equipment, etc and many more signs that china is getting ready. Europe is losing economic power by the day to the USA 😢. We need a democratic EU and not a tool for Germany and France 2 countries that never agree with each other is sad Europe Germany single handed lost the car market because they are slow . We don't have battery factories until this day vin Europe 😢😢😢 we're shi....
@@micaeloliveira2727 Europe needs a good and better system of economic integration and interaction between the member states. Bureaucracy is also playing a major role in making Europe poorer - e.g. if you want to build a house you'll end up paying more to get it approved than building it. There seem to be more bureaucrats than actual working people in some of the EU countries while others have very few bureaucrats which makes approving projects even slower and costlier. Moreover, EU needs to start de-"risking" from the USA and promote their own industry, agriculture and everything else with sustainable subsidies and invest a part of the surplus into the aforementioned sectors.
Europe has NOTHING TO DO with Taiwan and China - we do business with both of them and we've been doing it since the Roman Empire if not before with the silk road (yet the Romans did not interfere with whatever China was doing), if China invades Taiwan then so be it - am sure NOBODY IS WILLING TO START WW3 BECAUSE OF AN ISLAND! The Asian theatre is so far away from Europe and if we stay neutral it will barely affect us (first few years, sure, but then it will be business as usual).
@@mabeSc I agree Taiwan is not our business but China will attack USA for sure and that will activate NATO 😞 . Last week in China has been shown a new tv series of 8 episodes about the readiness of China's army to take back Taiwan crazy documentary 😶 they are aligned with Iran , North Korea, Cuba , Russia 🥶🥶 very serious times .
China has shown that they are going to war soon just waiting for the right moment.
We need a democratic system in the EU where everyone is heard not just Germany and France and expand borders fast .
We need autonomy in all levels , military spending together, chose reliable partners and bring then to our level .
If Marroco is our strategic partner we need to invest in them to show others who they should aline with . We need strategic international relations and keep them safe and close , Europe has the privilege of having close relations with ex colonies that with care political we can win them back .
All this mess ( Ukraine Russia and China Taiwan) is because of the USA and they are the ones benefiting from it 😤😤.
@@mabeScif you think it would be business as usual, then you haven’t been paying attention
@@mharley3791 Am saying that after a few years, not immediately after. Anyways, if China is to unify with Taiwan then the most peaceful way should be used. Taiwan really risks becoming Ukraine 2.0, with many lives lost for each meter advanced. Issue is that peaceful reunification is in the best interests of China, given the huge chip manufacturing capacity of Taiwan. You don't want to risk that being shelled or bombed by mistake during a war, do you?
A slight correction to 6 minutes: The EU has been quite protectionist, which is why 24% of Eurozone GDP is tied to exports, with the US being the largest market. Let's be clear: You don't have an export surplus unless you also have low imports. Low imports are enabled with things like regulation and tariffs which make it harder for American companies to export to Europe.
It's always funny to me when Euros lash out at the US for protectionism.
No that can be true it can also not be true ..
I agree because there are so many red tapes in trade between the EU and the US that it's impossible for the US exporting food stuff to the EU.... It means not only tariffs are blocking exports to the EU..
US foodstuff is way worse then EU food.
It’s funny when Americans pretend the US is a free and open economy.
It's also worth noting that China has taken much of Germany's competitive advantage, especially in the auto industry. Germany is basically steadily losing one of its largest export markets and its companies are being replaced by local ones.
Honestly it’s like which major country isn’t facing an economic crisis right now
India
US is projected to grow 1.8-2% this year after growing 2.1% last year.
He meant major economic country, India is not one of them. It will be a long time before India becomes an important economy. At the moment, the western world doesnt give a shit about India.
Mexico is not doing so bad recently. I mean things seem to be improving, which is not something we usually get to see.
@@MrReachashish why do you think so many Indians emigrate abroad, if things are going so well in India
There is also another problem here in germany, the change of generations at the moment. The demographic change has the labour market in its grip, skilled labour is leaving the market at a high rate and the young have to shoulder a higher burden in paying for the pensions of more people than ever before.
It's amazing how any negative video of Britain and it takes 2 seconds to see someone attempting somehow to link it to Brexit.
A negative video on Germany and not a mention of the EU whatsoever
Its because this channel is a mouthpiece for the EU. There goal is to propagandise British people into rejoining the EU. especially now that the German contributions to the budget will almost certainly shrink in the coming years. The UK will never be praised in anyway on this channel the UK could experience 5% growth in GDP next year and this channel would claim it would have been 6% if they were in the EU.
Because the world is more complex that some stupid dichotomy? Just because leaving the EU hurt Britain economically doesn't mean staying in the EU is hurting Germany economically. I mean, how, exactly, is the EU hurting Germany specifically?
@@Dendarang It's because the pitiful remoaners who infest the tldr message boards wouldn't have it any other way
@@aituk Using "remoaners" unironically doesn't make me inclined to take you seriously.
@@Dendarang I need a word to describe people that voted remain but haven't accepted brexit happened, continue to cry, lie and whinge about the referendum, the result and events since.
I'm happy for you to offer an alternative but they aren't just remainers, I know loads of remainers, remoaners are something else.
You do forget one big part of the problem; their extreme focus on green energy have cost them dearly. Because they don't include nuclear in that, despite having the lowest CO2 emissions, their power-hungry industry does not only have to pay more for energy, but also has about 4 times the CO2 emissions per unit of energy than France (which is full of nuclear).
Good report and accurate
I appreciate the knowledge you've provided. But this administration has putting so many families into difficult situations, I pray for our country, we need compassion for the American my country.
Things are getting worse these days, if you don't find a way to multiply your income, you might wake up one day to realize you did not mean well for your family
Most family are struggling to survive. meeting Mrs Alyona Lewis has brought me great success. Even with the economy situation I'm still sure of my $ 15,000 weekly
That woman is really amazing I still can't believe someone can be this exceptional when it comes to trading crypto.
Are you talking about *Mrs Alyona Lewis
Exactly! almost everyone working with Mrs Alyona Lewis this period.
I've been critical in the past of some very surface-level analysis, but you've done very well on this one. It's well-researched and balanced. 👍
If you think Germany's industry is in problem, look at the German demographics.
?
@@Victor-kt6qn he's talking about the average age of the population half of the German population is reaching retirement age and there are not enough young people to fill the work the whole that will be left in the work force.
@@Deadeye012011and the fact they're being replaced by Muslims
And HOW is that an issue ?
They are not the fastest shrinking population.
@@cgt3704 there one of the fastest shrinking alongside Italy Japan South Korean and very soon China. Germany should have spent far more money on automation technologies like Japan that can maintain a semblance of its current out put despite shrinking population. Instead Germany is headed for de-industrialization due to no long term planning.
Its all superamazing!
Germany in an economic crisis, expanding their military and making intent to March through Poland to get to Russia clear? I’ve seen this movie before 😂😂
The Trains in Germany were always late in my experience, but at least they communicated well with eachother. So you were very unlikely to miss a connection.
Credit where it is due I suppose.
Dont show nominal gdp per capita. It randomly fluctuates with the exchange rate while the real economy stays still. ppp fixes that.
Germany, like all of Europe has an aging and low birthrate society.
This means a decline in population and economy in the future unless the trend is reversed.
Hard to reverse when people don’t want kids and those who want can’t afford it
Countries will many young people have problems to offer enough jobs and countries with old people have problems to find enough young people....what a crap... Happily I am retired and as long as Germany can pay our pension it's okay..... Greetings from the Philippines 😂🎉
Germany will just import africans and Muslims. I don't really like Germany though so it is a bonus to see them suffer like this because they are usa vassal
@@nemzi8969can be fixed, just not for cheap
Orban has the answer.
Germany can be summoned up into one main sentence: if customers are not buying, you are not selling
Summed up
Nice summary! Big point that I feel was missed out though was Germany's inability (or unwillingness) to keep up with changing demands in employee skills and technology. Their car manufacturing for example has a workforce still largely based on combustion engine skills with less experience in battery technology than the USA and Asia. They also lack a large and experienced tech workforce which continues to limit their ability to have a strong position in this space. Not to say this couldn't change but they are currently behind global leaders.
Totally missing out on the german automotive industries. This went down by 20% compared to 2019. And the reason is to a big part the slow investment in electric cars. And that is the one thing which might not recover later on.
MOST rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to on's total assets ratio.
Sounds good😊How do you do that? I'm interested, how do I go about getting started?
I'm happy to see Mrs Brenda Leigh Van mentioned here, my spouse recommended her to me after investment of $5000 and She has really helped us financially in times..
If the rich spend like the poor but the poor spend like the rich, they both would be spending the same. The difference would be not having the same amount to invest.
Germany: “We do it better! ….errr, as long as American’s buy our stuff” 🥴
4:51 highest inflation in the EU? well if you don't count the eastern block lol, Hungary has like 20%
G7 not EU
700,000 subscribers. Nice, neat number
The real reason is that German industry is noncompetitive without cheap energy. This is also one of the reasons that the British economy is in the crapper, which will go equally unmentioned for ideological reasons.
Wait...Germany's secret was working more for less money?
It's as simple as that
I think the Labour shortage & aging population is also a contributing factor.
There's no labor shortage despite what some people say. Just look at Germany's atrociously high youth unemployment numbers.
@@eitkoml germanys unemployment rare is 5.4% & it has been decreasing since last 2 decades. It has halved in the last 17 years [from 11.7% in 2005 to 5.4 in 2022]. And this is despite the mass immigration, so it will go down even further if you exclude migrants.
Small correction, it doesn't make sense to talk about being a few years into schröders premiership, we're not the UK we have a chancellor
as a german living in switzerland, i am just laughing at germany. they just fail at basically everything right now, i'm sorry. They always speak out loud about all the amazing things they might do, but these things are literally nothing special for example in spain, where i am right now. Electric bending busses and bike lanes everywhere, no big deal in spain, world new innovation in germany
I like the video. Sounds like Germany has been neglecting its public sector; America doesn't have any room to talk on that front. We've been needing infrastructure repairs & replacement since before 2000. Y2K bug had more invested in it than our rail & road.
3 keys to success:
1 Agenda 2010
2 dual education system
3 Euro
It's a wrong title. The right one: "German economy is over". Deindustrialization is irreversible.
The perfect storm in a tea cup
easy to be an industrial superpower when your favorite dictator gives you energy for pennies on the dollar.
Im pretty curious why other EU members, like the southern ones, haven’t been pissed at Germany. Their effective economic growth has been through the artificial decease of wages, austerity, brain drain from the ex soviet states, and the undervalued of the euro keeping its export competitive, and the expense of other EU countries
Probably because the leaders of said EU countries wants this exactly: low wages for workers.
Trust me we hate Germany in the south and France.
We have been pissed at Germany for years, but they call us the ones in need of Germany, when Spain for example can be an excellent energy hub, providing and even profiting from clean energy, etc…
@@PossibleBat That. It would allow France to STOP selling energy to "new energy providers", in reality buying cheap energy from our nuclear reactors and reselling it four times more expensive. Another brilliant idea probably pushed by Germany because "Competition sparks good things!".
Ahahah...yeah it did. Half the country wants those new energy providers dead now.
To be fair, southern and eastern Europe would be utterly incapable of dealing with a higher valued Euro anyways. It is not artificially undervalued either, it is undervalued due to immense debt and instability in southern and eastern Europe. What poorer European nations need is an even cheaper currency, and probably one they can control themselves. The "high" value of the Euro has been a disaster for southern Europe as cost of living has risen while incomes haven't. And Germany on the other hand has a similar but opposite problem. The Euro isn't as highly valued as a DMark would be, which doesn't give them the advantages of a strong currency while living out the negatives of a weak currency. That is better for Germany on a macroeconomic level, but worse for German spenders and individuals.
Key factor they’re low national debt, that will come in handy at the right time, plus the high PPP
Thee picture you show at the beginning of the video is from Slovenia. Check that out! The parliament in Ljubljana, Slovenia
Other reason not mentioned and due to a criminal mindset: "lack of innovation" which cripples them now but had crippled Europe for the last decades. By mainly focusing on solely car industry and industry in general.Despite all that surplus money coming in, Germany refused to invest in new tech if not linked to car industry to insure their supremacy. And at the end of the day, Europe missed the GAFAM era ( no European leaders in digital industry compare to China or Russia which protected their market to develop their own solutions) and Germany missed EVs, now they are colonized by teslas. Ccl: stubbornness, selfishness, blindness & short term visions lead Germany where they are today bc they have been warned several times before by other countries aka France.Their motto "if it's good for Germany, it's good for EU" is dead and buried now...RIP. And we all know who was in charge of Germany and Eu during that era. Now the issue is how Germany will be able to reunite all countries to work together after so many years of selfishness??!
Same applies to the Banking sector ,Mrs Lobster who is german went to pay a normal utility bill at a bank only to be told she could only pay it in the town where the bill was sent to . She also tried to change some currency in a bank on a Saturday only to be chastised by the Teller and the customer behind her " Every one knows you can't change currency on a Saturday. Well I live in England and you can change currency at a supermarket there " both were astonished you could do that
Germany is among the countries with the highest innovation due to very high spending on R&D. The big problem though is they just discover stuff and then US companies come take the discovery and make a business out of it. So there is innovation but no business strategy for it or just plain US industry espionage.
@@ObeySilence That is why Germany should have help to build a European eco-system for new tech aka "Protectionism". What happened to German start ups is what happened all over Europe, Germany wasn't the only one. But their stubbornness to not invest and protect those innovations in favour of car industry lead to a weak Europe when it comes to Key digital player in the world. But Germany always pushed for competitiveness to the extreme. EUROPE turned to be the only zone where you can do your shopping without barriers (US, Russia & CHINA had barriers everywhere and never applied reciprocity). Europe turned out to be the dumbest child in the classroom!
Best comment ⭐
@@curiositykillsthecat You are on point actually
What about the German expenditure in the War?
Germany is europe's most hurted economy right now and also the second largest donor to the Ukraine after the US.
They have already given billions of euros to Ukraine and are projected to give many more billions.
And have also increased it's defense budget last year.
The money must be allocated from some where productive.
British journalists like to predict the economic death of Germany. I've been following the news since the 70s and the song remains the same.
Hopefully that book ages better than it has so far
Depending on this administration is totally lose. Investing is the major key that can secure your family's future. Missing out on this opportunity would be a mistake. I pray you become successful 🙏🏽
Honestly speaking, investing is a smart way to secure your family's future, grow your wealth, and stay ahead of inflation.
Wow, I'm just shocked, you mentioned expert Ms Diana, I also traded with her platform, with my little invested $ 1,500 I made returns of $9,500 in just a week, her trading strategy is amazing.,
Please I have been hearing about Diana kubley from my colleagues at work. How do I easily reach out to her?
*MS DKUBLEY*
*SHE'S ALWAYS ACTIVE ON HER TELEGRAM'S APP WITH THE NAME ABOVE*
Half your videos are about how badly the UK is doing (generally blaming Brexit), but the chart you use show the UK outperformed all but Spain in 2022, outperforming Germany in 2023 and on parr with the US and Japan in 2024.
You can read it that way, but i could also say it will be one of worst in 2023 and 2024😅
But the UK is only now slowly coming out of the pandemic low and still has a smaller economy then pre pandemic levels. Meanwhile Germany exited its pandemic low in 2021 already
@@JustFun-wl3jf one of the worst, true, but not an outlier.
I also suppose you have to account for how much of that GDP is driven by migration. If the population increases by more than the GDP increase, then that is a real term decline though appears as growth.
Yeah you are seeing the growth of 3 years now let's check the same from 2000 you will understand what's the difference.
This is such an exhausting talking point you Brexiteers keep parroting. The British economy took an absolute nose dive after Brexit followed by another nose dive during Covid. 5% recovery on a 10% is still less then a 2% recovery on a 5% loss. Yes, 5 is higher than 2, but compared to WHAT proportionally.
This has been explained to you people about 800 million times, what is so hard to grasp about this?
Elementary school shit.
If you have 100 apples, you lose 10 apples but then get 5 apples, how many apples do you have?
That's the UK.
Now if you have 100 apples, lose 5 apples but get back 2 apples, how many apples do you have?
If you can't do the math on your fingers, use a calculator.
Good news for me!
I can say I agree that Deutsche Bahn trains 1 in 3 is always late and it's really unrealiable .
What did Germany have in the years other countries envied it for its economic strength? What was the unique factor other countries with otherwise comparable economies didn’t have?
Answer: cheap Russian gas.
The Green Party are in power in Germany. The economy is contracting.
The last time the Green Party were in power in Germany, the German economy was a stagnant underperformer.
Does anybody see a pattern ?
It is not the Green party only, but also the social democrats. Both are economically illiterate. Ironically the FDP are the only sane guys there, but unfortunately they are also the smallest party.
Maybe its just a curse, but to be fair they have to deal with many crisis
Did you know that people eating ice cream causes more murders? Incredible, I know.
Also I am the proud owner of a bridge in Köln, you don't by chance want to earn some easy bridge tolls?
Europe as a whole is stagnant. The US GDP is already 10 trillion higher than the Eurozone. Britain is stagnant not because of Brexit, but becuase Europe has taxed and regulated itself into stagnation. And no, bringing foreigners from third world countries and a completely different culture won’t help, quite the opposite.
there is a sematics problem, as a temporal price hike isnt inflation, but was labeld as such. The prices are slowly getting lower again.
f.ex. :Cheese was at 5€/kg before the price hike, grew to 8€/kg and is now back to 7€/kg.
Prices should continue to fall for the next 6-12 months, but will probably normalize at an higher value than before the price hike, which is the result of the actual inflation.
You can always find examples of lowered prices. The inflation gets slowly down, yet prices are still over all rising
You can always find examples of lowered prices. The inflation gets slowly down, yet prices are still over all rising
@@tobiasbauer198 most products are affected by the energy price hike, but energy price went down again. After some time competition will push product prices down, just not to pre war levels.
@@viktor8316 until the winter shows it's ugly face again and people start heating
which country
It’s jut one year of -0.3% gdp growth, you are making it a bigger deal than it is
While USA has +2.0%
@@mile_381 Yeh because it dished out 370 billion USD of subsidies, obviously it’s going to have high growth.
@@mile_381 Hmm I wonder why 🤔
It's absolutly clear,germany does't innovate, we hate it.
A german engineer;)
Art schools in Vienna should accept all applicants now.
I can explain it without even watching the video: Getting rid of nuclear energy, having no access to cheap gas and setting it all on the most environmental friendly energy source coal. This creates higher energy prices and boom you get a recession.
While DB definitely needs a lot of investment, I think the biggest thing that Germany has failed to invest in recently is digital infrastructure. Internet bandwidth throughout the country lags behind most of the rest of the developed world, and I've heard that up to 40% of businesses in Germany still rely on fax machines. This has stalled a lot of the potential growth that Germany could have had, leaving it more reliant on its legacy industries.
and there they saying Russia isn't innovative lol.
Networking infrastructure isn't built by the government in Germany, it's done by commercial players who make choices based on commercial viability. Half the blame goes to companies setting up shop in the countryside where connectivity is bad but taxes and salaries low.
@@Martinit0Yeah that’s the main problem. Fast internet access in modern age is important and if mot profitable it should be subsidised by the government. No one is saying “oh electricity wouldn’t make money here so let’s not build the infrastructure” because it’s fucking stupid. You need electricity for every day life and especially for the economy, just like the internet. We in Eastern/Central Europe realised that very quickly, that’s why Romania has the best internet infrastructure in the world.
As an Italian it seems impossible that Germany has the same inflation as us. They are allies so we should want them to perform well but it's really so funny seeing them fail and understand us
Pare che per una volta non siamo solo noi a fare schifo 😂
After WWII many want to see that Germany falls but until today they are still doing okay. Don't believe the permanent complaining of the Germans because that's in their genes 🧬...
If the German workers ask for higher salaries the economy is doing very bad and if the business is doing well they say that the future will be very bad..... I know this since the 60th....😊
Laugh all you want to, but at the end of the day Germany is a lot more appealing and more enjoyable country to live/work than Italy will ever be. Imagine being so proud of a country so mid and so boring that even terrorists don’t find it attractive enough to bomb because of how boring it is. But you want to laugh at others? Italy is the mentally challenged child of the eurozone
Learn from it and make Italy capitalist. Its too socialist right now.
Both Germany and Italian both industrialized at the same rate, this reduce the number of babies being born in both countries. When a country industrializes and move the city kids become very expensive. When you are on a farm kids are free labor so you have lost of them. During the 1970's because of high inflation both countries choose to have less babies because of the high inflation. That now taking affect in Germany and Italy. The Boomers in both countries did not have a lot children. Now America that not the case. That why economies of both country is suffering from Inflation and a worker shortage.
Yeah, DB used to be late always in 2019 as well
Someting else. A longer term structural problem because the car industry is (1) such a major part of the economy and especially the export economy and (2) so slow to get on the EV boat.
Especially with the dominance of Tesla and Chinese EV makers, I won't be surprised if Volkswagen is the only automaker left in Germany in like 10-15 years
I certainly didn’t expect that « we veto that shit » 7.34 in such serious topic 💀
Where Germany messed up over many governments is the transition to renewables. We even had a special "tax" dedicated exactly for this investment for over 20 years (EEG Umlage). Almost all energy companies ditched this through a loophole while the government sat idle. So the populace were basically robbed. The result is that we are now forced to make hasty new projects and chase the renewables while spending a lot since gas is now very expensive and coal will become too.
Germany has deluded itself (and still is) for too long with idealistic magical thinking. Germany feels it has to be the model for the rest of the world, and at the same time never looks across its borders to see how other countries do many things a lot better.
If there are road works in Germany, the road is blocked for a year. In the Netherlands, the road is blocked for a weekend.
Totally. It feels as if (state) employees do the minimum amount of work necessary to not get fired. This expands to state contract workes since the lowest bidder always gets the contract, thus in most cases ending in disaster like prolonged work or extensive costs. @@ronald3836
You can't transition our industry to renewables only. Do you know what seasons are?
@@tobiasbauer198 Some kind of renewable energy can always be harvested. Another key part is storage. As long as we have to shut down wind turbines due to storage issues, something is wrong. Its up to the government to come up with a plan for that for once.
@@H1kari_1 you can't store so much electric energy. Where would you store it? Houses electric battery's last for about one night
So not sure about the moustache just yet 😂
But all for it if it comes out as classic Victorian a la Gordon Macready
I feel like it is foolish, to predict anything, as long as there is war, of which nobody knows the end date.
It is nice to know it is not just the UK!😂🎉🇬🇧
Don’t be delusional the truth is the Uk is worse than almost any western country. Worst it’s mostly self imposed by the British government and people
It's everywhere! Stop playing politics!
The difference is, that Germany is in a extremely minor recession, - 0.1%. Unemployment is fine, inflation is not out of controll, investment is still going steady. Ever since the energy prices have normalized, the average German does not care which means cosumenter spending is not impacted to a financial crises degree. It's is basically the definition of a soft landing
@@gnrseanra9070 grow up. its not the same everywhere. spain doing FAR better than UK for example. and isnt bankrupting people to do it.
@@phil-jc8hp This is the craziest part of this, the UK hasn't slipped into recession(yet)! It's economic growth has remained positive this entire time (it got as low as 0.6% though so it basically is a recession at that point)
Even still it looks very unlikely to slip negative anytime soon, with growth prospects for this year being pretty positive. All this doom and gloom, but the UK is actually dusting itself off quite well, all things considered.
Great analysis. I wish the German media would talk about it like that but the Schuldenbremse (=debt break) seems to be holy in this country. Almost no media outlet is questioning Lindner's and the CDU's narrative. We need to invest now!
Lindner* sorry couldn’t contain myself.
@@MrXxHunter Sorry, I will correct that :)
@@bike-cave-man2527 Why do you think I make fun of US debt?
The USA could invest even more and finance that with more debt than Germany ever could
@@bike-cave-man2527 For a private business and private persons I would agree but why would the state need to run a surplus?
@@till_teewurst8674 are you stupid? a state cant just increase its debt more and more without issues. the share of taxes the US has to use to pay the interest on their debt is getting incredible high.
Also Investments arent the problem, Germany needs deregulation and cuts. the public sector can be cut 30% without even getting close to the workload of the private sector.
6:46 Germany actually runs their trains late as a point of principle, as a way of distancing themselves from *ahem*... previous governments.
Finance and Business books have been so helpful. I’m 55 and my wife 50 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early, even till now we earn weekly.
The only thing Germany spends money on is retirees and illegal immigrants.
There's also the issue of German public education becoming worse and worse (mainly due to a lack of spending which has resulted in a lack of teachers but it also doesn't help that there's a relatively high number of immigrant children whose parents don't speak German with them at home). And there's a lack of skilled workers and young people. But yes, most of Germany's big issues require a lot of spending and the FDP are being the neo-liberal dickheads they've always been and blocking anything that requires raising taxes or taking on debt.
It's insane how the FDP is still seen as the party with the best economic policies.
A big problem are the universities, where the neoliberal ideas still dominate the economic studies.
One interesting exception: Most German startup CEOs vote green.
Note the difference between the previous leadership Angela & Oleg? Angela was a strategist and manoeuvred / negotiated when dealing with her peers in EU & US . As such Germany has benefitted in many ways and managed to progressed in the 16yrs during her leaderships. When hard liner Olaf took over, he just too instructions from EU & US and everything goes down.
Merkel is the responsible for the actual crisis in Germany
Merkel isn't a sweetheart either.
As a german I can say our country is in decline! The housing and rent costs, the infrastructure, public traffic, low wages, crime rate, shortage of workes, school and education, the inequality... We only have neoliberal politicians and the reforms of Schroder was the beginnung of the destruction of our state. Our Country is also not ready for the green transformation! Its just tragic to see that we got poorer and poorer...
I think the Schröder reforms were necessary at the time and managed to get the country back on its tracks, but there should probably have been course corrections later. Merkel just profited from Schröder's work and left the country in a mess.
Not that I am a fan of Putin-lover Schröder!
Stop the green policies. Spend money on digitalisation and lower the regulations and taxes.
That is true for all developed countries
Don’t be daft! The Hartz reforms saved Germany.
Merkel was a disaster and the “Greens” and their unscientific policies have been very bad.
If you think Germany has a high cost of living and low wages, you should try to live in Lisbon with rent costing 1500 euros for a 2 bedroom apartment, with a 900 euros monthly wage. I bet you will choose Germany in an instant, compared to Lisbon, Berlin is very cheap but wages are triple of what we get so you guys shouldn't complain about wages
The biggest issues are infrastructure, regulations and financial austerity in my opinion.
Germany had it's economic boom by changing social benefits meaning you'll starve if you don't some shit job the state suggests to you and by using the infrastructure our grandfathers built but not adding anything to it.
You didn't starve under the Hartz system, you just needed to use your money carefully. Without inflation, this system worked really good.
You have it completely backwards, Germany is not "paying the price of austerity". Germany's austerity is the thing that created the favorable economic conditions there.
You forgot to mention huge labour shortages