Germany sinks and Europe with it. Bruno Le Maire does not realize this at all.

Posted on November 25, 2022




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Here, here is a Big Disaster looms on the Teutonic horizon: we learn that Uniper, the main German gas sales company and first distributor of the Russian company Gazprom, must appeal to the German State for 55 billion euros following a net loss colossal established at 40 billion euros since the beginning of the year.

A billion euros here, a billion euros there and quickly we start talking big money. In any case, at 55 billion euros, that’s a tidy sum that will perhaps make Olaf Scholz reflect on the energy choices made in recent years by Germany: obviously, increasing efforts on renewable energies is a bit too to also multiply gas supplies and to find themselves in an unfortunate position when the international situation changes a little.

And if there is indeed an energy transition, it is not exactly towards new forms of energy but rather towards noenergy at all: in short, everything is not really going as planned in Europe: in a few months, very political choices have resulted in almost immediate consequences as economic as they are palpable, with major bankruptcies as a result.

For once, Germany is not doing better than the others and perhaps even on the contrary: these bankruptcies are multiplying at a truly alarming rate. Thus, the German furniture manufacturer Hülsta is insolvent, 80 years after its foundation. The Thilmann bakery chain reaches the same point 85 years after its beginnings. For Wolff Hoch und Ingenieurbau, a construction company, it took 125 years, while Bodeta, the confectionery manufacturer, lasted 130 years. Borgers, the automotive supplier, closes its doors after 156 years and Kappus, the soap manufacturer, after 170.

These few examples spread over just a few days give food for thought: these companies have survived two world wars, major political and social changes, only to finally die in 2022 because essentially, the Germans believed hard as iron that windmills and magic mirrors, all lined with Russian gas turbines, would save them from typing in coal, oil and nuclear power.

On the balance sheet, the Germans now have more bankruptcies than gas, mirrors and under-productive mills that no longer know what to do with them and still have to exploit coal, oil and nuclear power. It’s an epic fail (and that’s just the beginning).

Perhaps it is because of this icy wind coming from the east that our national Bruneau de Bercy recently displayed some clear signs of a change of tactics in his fine management of the French State budget: while in February last it was understood that all his intellectual power would be dedicated to making Russia bend, the tenant of Bercy begins to review his objectives. With the legendary suppleness of this great beast of the Republic leaping mercilessly on the aphorism and the easy little phrase, here he is declaring “Finished the kingdom of Koikilenkouth”, or almost :

We’ve stopped doing whatever it takes and are now targeting businesses that need it the most.

Now charge companies to be as discreet as possible about their economic difficulties so as not to receive help from the minister, which is easily equivalent to the kiss of death.

Independently of this aspect, we will appreciate at its fair value, in the declarations of the minister, the fantasies about the performance of France, whose economy is recovering while in Europe all the other countries are sinking fairly quickly into a slump without historical equivalent. Yes: as previous posts already mentioned in march and in aprilthe sanctions against Russia have been absolutely devastating… for Europe.

And even though these Europeans are precisely in the process of discreetly circumvent these sanctions as soon as they can, the same Bruno, never short of a contradiction, admits multiplying tariff shields and other special counters to help individuals and businesses (those which are resisting so well in France, he said) to overcome the crisis (which is almost invisible in the country according to official figures), a crisis that we will also put on the back (of wider and wider) of the war in Ukraine.

In short: no more Koikilenkouth but everything is fine because the figures are good but companies need help and the war is an economic drama for us but France is doing well but put on a sweater all the same.

We oscillate between consternation and increasingly haunting questioning about the denial of reality of the elites who seem to have self-intoxicated themselves with this alternative reality that they continue to paint for the masses.

Because despite the worrying projections of global incoherence from the Minister of the Economy, the evidence seems difficult to evacuate: what puts Germany in such a mess cannot result in simple economic embarrassment in France, on the contrary. Because we already know that the year 2023 will see a record number of bankruptcies in the country. And because the coming winter will be harsh, whatever people say and even if there are no cuts (which seems less and less avoidable).

Economic indicators only deceive those who have an interest in being so: one can argue, as do some regulars on media platforms, about a low unemployment rate or even about what is featured now as almost “full employment” – which denotes a truly alternative vision of reality – the fact remains thata growing number of French people are hungry : never the Restos du Cœur have helped so many people in need – with double-digit increases over previous years.

Rest assured: according to Bruno and the services of Bercy, these people will have no problem finding employment (just think, France is almost overheated, they tell us!) which tends to show that in this country, jobs no longer allow you to eat your fill and you have to work on an empty stomach.

Denial, quibbling, inconsistency and nonsense… All of this is bound to end very well.

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Germany sinks and Europe with it. Bruno Le Maire does not realize this at all.