Thursday, September 22, 2022

Germany's In Big Trouble

The German government made the decision to boycott Russia and to assist Ukraine in the current imbroglio.

Russia said "Fine.  We're shutting off your natural gas."

That's something Trump warned Germany about--and they laughed at him.  Would 't be all that bad except that Germany also shut down its coal-fired electric plants a while ago.

...According to release statistics from the German economic ministry, energy prices in August were more than double the same period last year, up 139%.  The monthly increase was more than 20.4% higher than July.  Additionally, producer prices for electricity rose 174.9% compared with August 2021 and by 26.4% in a single month.

This jaw-dropping increase in energy cost has resulted in German manufacturing prices for industrial goods jumping 7.9% in August alone, with a year-over-year increase in the cost to manufacture goods at 45.8%.  That is the highest rate of price increase since Germany began recording their statistics in 1939....

Might be time to short your interest in Bayer and VW.

But hey!!  That's a very satisfying cutback in the use of fossil fuels, no?

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