Europe’s Triple-Dip Recession Arrives: German Industrial Production Crashes Most Since February 2009

This is the Greatest Depression.

Prepare for collapse.


–  Europe’s Triple-Dip Recession Arrives: German Industrial Production Crashes Most Since February 2009 (ZeroHedge, Oct, 7, 2014):

A few hours ago we finally got undeniable confirmation that Europe is once again in recession, its third since Lehman, only this one is worse: it is led by the “core” countries, with Germany in the forefront, a Germany which just reported industrial output which suffered its biggest monthly decline in more than five years in August. Specifically, German IP tumbled 4%, led by capital goods which crashed 8.8%; consumer goods sliding 0.4%, and basic goods dropping 1.9%, with the headline plunge far below the consensus of -1.5%, and below even the worst forecast of -3.0%, the biggest drop since February 2009, a result which according to the FT rose “fears that Europe’s biggest economy might be heading for recession and prompting renewed concern about the economic health of the eurozone.”

 

2 thoughts on “Europe’s Triple-Dip Recession Arrives: German Industrial Production Crashes Most Since February 2009

  1. How long have I been saying this? The real war has been economic, and has been going on since 2010, east against west, and the west is losing badly.

    I hope this is the last time I have to write this, because to me, it is an old story. I have been following this since Hugo Chavez introduced the first electronic currency, the Sucre, for use in his tiny organization, the South American Trade Alliance in Spring, 2010. Their GDP was so small it flew under US radar. There were 12 members, including Cuba, and member nations were able to trade with each other using their own currencies, leaving the dollar out.

    Russia and China watched with great interest, and in November of that same year, established an identical system with each other, trading while using their own currencies, leaving the dollar out.

    China went on to recruit Turkey, Iran, most emerging African, South and Central American nations to join with them. All these nations wanted freedom from the dollar, which the US was printing nonstop, abusing their status without end.

    This last Summer, Putin went public with his DE-dollarization plans. I was surprised, because I had been watching it since 2010, but then realized he had enough nations in his corner to go public.

    Then, they went public with BRICS, a coalition of leading countries in their sister economy, Brazil, Russia, India, China and South Africa

    In January of 2010, 100% of all nations completed their international trades in US dollars. Today, it is down to 33%, and falling.

  2. My computer registered too quickly, perhaps you can fix it?

    When they went public with BRICS, they set up a fund of E100 billion to loan money to smaller nations wanting freedom from the US financial domination.

    The latest nation to join BRICS is Switzerland.

    Today, down from 100% in the beginning of 2010, the US dollar is now used by 33% of world nations. How much of that is comprised of the EU, I don’t know. But, when (not if) the EU buckles under Putin’s financial pressures and dumps the dollar, it will collapse.

    I hope I don’t have to write this history again………even the US stock market is starting to show some reaction to the real economy, but we will see.

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