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‘Black Zero’ Gotta Go: Germany Slashes 2020 Growth Outlook Amid Heinous Factory Slump
The German Economy Ministry on Thursday slashed its growth outlook for 2020 to just 1% from 1.5% previously in the latest sign that Angela Merkel's government needs to come to terms with the stark economic reality that confronts the world's fourth-largest economy.
The projection for 2019 is 0.5% and fears that Germany fell into a technical recession in the third quarter are widespread.
"The downturn in the industrial economy continues. In particular, weak global trade is weighing on export-or
We are living in the early stages of deflation, a time when Baby Boomers will sell assets, consume less and require health programs that will increasingly be under-funded. As interest rates remain low, growth will remain low and future value will decline, but the good news is, the rich will get more tax breaks and become richer — and pass their fortunes to their wonderful children.
Shumpei Takemori, an economist at Keio University in Tokyo. “Creative destruction is replaced with what is just destructive destruction.”Â