Annnnnd the Germans are in deep shit:
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.
It’s a pity they didn’t start in 1919, because then we could have compared today (and tomorrow, from the looks of things) to the numbers from the Weimar Republic. Nonetheless, Germany’s in for a rough ride.
Couldn’t happen to a nicer bunch of watermelons.
It’s not just the economic debacle, it is also the Weimar level of degeneracy with the addition of all the maladies brought by unchecked immigration.
Didn’t Germany go through a rather rough hyper inflation debacle in the early
part of the 20th century, somewhere around the 1920’s ??
This is going to continue until money printing presses are STOPPED !!
We, Germany and us, are long past the point where the least painful solution is –
stop the presses and WAIT for the economy to grow enough to cover
the value of the ‘new’ money’ that has been pumped into the economy !
It still has to be done.
And the longer we skip down this path to ‘utopia’ the more painful it will be !
1921-23, if memory serves. By 1924 everything had pretty much collapsed.
Hyper inflation isn’t the rapid expansion of the currency, it is the creation of conditions in which other people don’t want to hold the hyper-inflating currency at any price.