Ambrose Evans-Pritchard (is Evans his maiden name? I just don't get the hyphenated names) points out the grim news that Germany is toast. Great.
http://blogs.telegraph.co.uk/ambrose_evans-pritchard/blog/2008/12/19/germany_is_already_collapsing
In short, no one's buying anything, so Germany is not selling anything and expects its economy to shrink at Depression levels. Awesomely bad.
I wish I had posted this statement earlier because it is now too painfully true: the European Central Bank has no idea what it is doing. Is it a tool for Grand Europolitik? Is it a lender of last resort? Does it represent Europe (a misformed entity, as though Hephaestus rather than Athena was sprung from the forehead of Zeus)? Or does it represent European nations? I just can't understand why the ECB has been trying to fight inflation through autumn when the world economy has been facing meltdown.
If the ECB fails to stimulate the Eurozone economy in the next 18 months or so, expect the death of the EU. No joke.
http://blogs.telegraph.co.uk/ambrose_evans-pritchard/blog/2008/12/19/germany_is_already_collapsing
In short, no one's buying anything, so Germany is not selling anything and expects its economy to shrink at Depression levels. Awesomely bad.
I wish I had posted this statement earlier because it is now too painfully true: the European Central Bank has no idea what it is doing. Is it a tool for Grand Europolitik? Is it a lender of last resort? Does it represent Europe (a misformed entity, as though Hephaestus rather than Athena was sprung from the forehead of Zeus)? Or does it represent European nations? I just can't understand why the ECB has been trying to fight inflation through autumn when the world economy has been facing meltdown.
If the ECB fails to stimulate the Eurozone economy in the next 18 months or so, expect the death of the EU. No joke.
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