Why is Europe is such awful shape?

Why is Europe is such awful shape? Consider the plight of Germany. In May (deStatis), Germans paid 35% more for 9% less imports.

These are not typos. When you pay a third more to get almost 10% less you are going to find yourself in deep, deep trouble.https://t.co/EH7guxTKpo pic.twitter.com/UygK5ex4P5

— Jeffrey P. Snider (@JeffSnider_EDU) July 21, 2022

Good morning Europe.

1) ECB trapped
2) Debt crisis brewing
3) Recession on the way
4) Energy crisis in full swing

Good luck, ECB. You're gonna need it.

— Marc-André Fongern (@Fongern_FX) July 21, 2022

JUST IN – Italy's PM Draghi has resigned. President to dissolve parliament.

— Disclose.tv (@disclosetv) July 21, 2022

Nord Stream flow started flowing again. Currently at 40% well below historical run rates 👇 pic.twitter.com/axiNOOUC2J

— Menthor Q (@MenthorQpro) July 21, 2022