via activeprep:
The bloom is off Europe’s former economic powerhouse Germany.
Last month, the German Retail Association (HDE) reported that consumer sentiment reached an all-time low in August — then declined further in September.
It’s because of increasingly unaffordable energy, food and other essentials while disposable household income is declining.
As a result, consumer purchasing intentions also plunged to an all-time low.
Looking ahead, there’s nothing positive in prospect, gloom and doom alone at least through winter — most likely much longer.
In late September, Spiegel International reported the following:
“Germany is expecting tough years ahead with diminishing prosperity, a shrinking middle class and growing inequality.”
“This is uncharted territory for the government and society, and both are facing some difficult choices.”
When middle class Germans are increasingly hard-pressed to make ends meet, “things start getting dicey everywhere in the country, particularly for the” ruling regime.
A combination of soaring inflation, unavailability of vital gas from sabotaged Russian pipelines, public anger over growing deprivation and self-inflicted harm by allying with hegemon USA’s sanctions and hot war on the Russian Federation, Germany faces a perfect storm with no resolution in prospect.