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Germany: No Recovery In Sight

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http://uk.biz.yahoo.com/21092009/323/germa...bank-chief.html

Financial News

Monday September 21, 08:29 AM

German economic recovery not till 2013: bank chief

Click to enlarge photo

BERLIN (AFP) - Germany's economy, battered by the financial market chaos, will not recover to its pre-crisis levels for another four years, the head of the central bank in Europe's top economy said on Monday.

"The economic recovery will take a while. The German economy will not reach the level of prosperity it enjoyed in 2008 until, probably, 2013," Bundesbank president Axel Weber said in an interview with the Frankfurter Rundschau daily.

"And the road up will be bumpy," he said.

So, it has all been a joint government attempt to con the sheeple into thinking green shoots are visible and its time to go into more debt and buy scrappage-cars and houses? No way the biggest recession/depression in history was going to go away in the record time for any recession.

I recommended to a freind who wants to sell her house to do so immediatley why the temporary illusion of recovery lasts. May already be too late.

All the poisons that have been lying in the mud are only just hatching out.

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I fully expect to see scrappage schemes further extended, with the cut-off moved ever further forwards. Maybe it won't be too long before we're able to scrap anything over 6 months old.

How long before the public tire of scrappage schemes though?

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http://uk.biz.yahoo.com/21092009/323/germa...bank-chief.html

Financial News

Monday September 21, 08:29 AM

German economic recovery not till 2013: bank chief

Click to enlarge photo

BERLIN (AFP) - Germany's economy, battered by the financial market chaos, will not recover to its pre-crisis levels for another four years, the head of the central bank in Europe's top economy said on Monday.

"The economic recovery will take a while. The German economy will not reach the level of prosperity it enjoyed in 2008 until, probably, 2013," Bundesbank president Axel Weber said in an interview with the Frankfurter Rundschau daily.

"And the road up will be bumpy," he said.

So, it has all been a joint government attempt to con the sheeple into thinking green shoots are visible and its time to go into more debt and buy scrappage-cars and houses? No way the biggest recession/depression in history was going to go away in the record time for any recession.

I recommended to a freind who wants to sell her house to do so immediatley why the temporary illusion of recovery lasts. May already be too late.

All the poisons that have been lying in the mud are only just hatching out.

Baroness Scotland?

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Banking crisis's take years to resolve, so far this one has been running for 24 months or so.

Unless they have rewritten the rules of a banking crisis we will be in trouble for years to come.

Is this evidence of the EU'less recovery?

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Maybe it won't be too long before we're able to scrap anything over 6 months old.

From culling boomers to anything over 6months old?

Shouldn't this be phased in CST? :unsure:

Who would change the nappies I ask?

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Is this evidence of the EU'less recovery?

I think Germany is one of the key countries in this crisis - if/when they start to get mired then things really start to get interesting in the political field - for themselves, for Club Med, for Ireland, for the ECB and EU, for the accession states and even for Russia. Germany is the biggest domino in the game.

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die levellen in die roomz?

I don't know what the German is for "it's the levels, stupid" so I made it up.

But apparently elephant is elephanten and I recall from my 'o' level that room is zimmer, so knock yourself out. :rolleyes:

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I don't know what the German is for "it's the levels, stupid" so I made it up.

But apparently elephant is elephanten and I recall from my 'o' level that room is zimmer, so knock yourself out. :rolleyes:

didnt want to make it too hard to see my simple play on your words.. :rolleyes:

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Awesome stuff guys.

Our local outdoor Opera co. is performing Götterdämmerung this winter & looking for a Brunhilde.

Either of you interested?

We would have liked to stage it in summer but fires are banned here until mid-Oct, which would kill the madam's big immolation scene & who would watch without it?

EDIT:- forgot to say we provide the full kit, including a breastplate to die for

Edited by Laura

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Guest P-Diddly
Banking crisis's take years to resolve, so far this one has been running for 24 months or so.

Unless they have rewritten the rules of a banking crisis we will be in trouble for years to come.

Add to that, why would it recover to pre-crisis levels, the most exuberant in the history of money? Surely if we are to get a sensible financial system, levels of credit based consumption have no chance of reaching these highs again.

Notice the word . . . if.

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Awesome stuff guys.

Our local outdoor Opera co. is performing Götterdämmerung this winter & looking for a Brunhilde.

Either of you interested?

We would have liked to stage it in summer but fires are banned here until mid-Oct, which would kill the madam's big immolation scene & who would watch without it?

EDIT:- forgot to say we provide the full kit, including a breastplate to die for

It would be my pleasure..........

to nominate Bloo loo :D

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It would be my pleasure..........

to nominate Bloo loo :D

i nominate der red kharmavonsturmerbahn

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I think Germany is one of the key countries in this crisis - if/when they start to get mired then things really start to get interesting in the political field - for themselves, for Club Med, for Ireland, for the ECB and EU, for the accession states and even for Russia. Germany is the biggest domino in the game.

Will also be an interesting conundrum for the 'if Fatcher 'adn't destroyed our manufacturing' brigade.

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Will also be an interesting conundrum for the 'if Fatcher 'adn't destroyed our manufacturing' brigade.

I don´t think they will be commenting on this thread.

Without German economic power there is no Europe, this could put substantial strain on the whole union.

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Guest P-Diddly
I don´t think they will be commenting on this thread.

Without German economic power there is no Europe, this could put substantial strain on the whole union.

Yep. Without selling Mercs and Bosch hand drills there is no finance for the bloated welfare state in Europe. many people think of Europe and immediately think Germany, industrial economic power etc. They forget that the Germans are supporting failed economies like Ireland, Spain, Italy, Greece . . .

Surely this can't go on much longer?

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"Wie stark wird die Arbeitslosigkeit noch steigen?

Die führenden Wirtschaftsinstitute erwarten laut ihrer gemeinsamen Frühjahrsprognose, dass die Arbeitslosigkeit bis Ende 2010 auf fast fünf Millionen steigt. Auch die Bundesagentur für Arbeit hält diesen drastischen Anstieg bis Ende des kommenden Jahres für möglich. Die Bundesregierung schätzt, dass 2010 im Schnitt 4,6 Millionen Menschen ohne Job sein werden und damit 900.000 mehr als 2009."

By end of 2010 - a total of 5 mln unemployed - 900,000 more than in 2009

http://www.tagesschau.de/wirtschaft/aufschwung100.html

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Add to that, why would it recover to pre-crisis levels, the most exuberant in the history of money? Surely if we are to get a sensible financial system, levels of credit based consumption have no chance of reaching these highs again.

Notice the word . . . if.

You have to look at where growth has come from. In recent history much of it is fake. It's women going out to work instead of staying at home looking after the household. Then hiring nannies, cleaners etc. The taxation system make it worth them doing personally financially, but we are all paying more tax for it, and the social benefits are none existent.

Woman stays at home doesn't register in the figures. Woman goes out to work and a whole flurry of economic activity follows.

**Substitute "stay at home dad" as appropriate

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