While the article is right in that the German economy sucks, a lot of its reasoning is bullshit.
For example, Tesla was definitely a rude awakening, but stock valuation means jack shit with the NYSE running on pure price speculation.
Also yeah they are closing factories in Germany, but they sure as hell are keeping those in Eastern Europe. What did they think would happen when they got built, and they got built bigger than those in Germany?
Point is, this downturn is not because a lack of innovation or whatever, but just the neolib policies changing tack as they were always supposed to in a downturn.
While the article is right in that the German economy sucks, a lot of its reasoning is bullshit.
For example, Tesla was definitely a rude awakening, but stock valuation means jack shit with the NYSE running on pure price speculation.
Also yeah they are closing factories in Germany, but they sure as hell are keeping those in Eastern Europe. What did they think would happen when they got built, and they got built bigger than those in Germany?
Point is, this downturn is not because a lack of innovation or whatever, but just the neolib policies changing tack as they were always supposed to in a downturn.
Or potentially intentional. Friendly reminder that Politico is part of Axel Springer nowadays.