Forum Topic

German recession fears after big decline in industrial production

Oh dear all the Guardianistas must have missed this report in their Lefty Bible yesterday:https://www.theguardian.com/world/2019/aug/07/german-industrial-production-suffers-amid-us-china-tensionStrange how they 'forget' to post anything negative about the EU.🙄

Sue Hammond ● 2652d15 Comments

Good afternoon Sue,Did you read the full title as well as the article itself by any chance?Sales of cars and machine parts to far east fall as US–China trade conflict takes its tollWhere is the negativity about the EU you refer to?  I read the problem is the US-China tension.  Did I get it wrong?

Ivonne Holliday ● 2652d

Hi Clare. Germany steers the EU or haven't you noticed? I just knew the US/ Trump would be blamed. 🙄

Sue Hammond ● 2652d

But it’s not good news for us. We still export stuff to Germany so their slowdown will affect us. Also, as a major global exporter the rise and fall of their economy is a reliable advance indicator of the health of the global economy. No good news here and I very much doubt that any falls in European economic output will ever be anything to be pleased about (unless you’re bigly into Schadenfreude).

Jonathan Callaway ● 2652d

All the usual economic indicators show we are heading towards a global recession, which  will no doubt be blamed on Brexit.

Chantal Blake-Milton ● 2652d

In part it will be the impact of Brexit. The FT, the Economist and any number of City analyses support this view. Brexit is a lose-lose situation both for us and the EU. How can it not have an effect if it pushes us, the 6th largest world economy, into recession?

Jonathan Callaway ● 2652d

Because by then, most of the World will be in recession.The biggest threat to our economy is John McDonnell, who is now threatening to go to the Queen for the keys of Parliament, and will expropriate our land and our children' inheritance.

Chantal Blake-Milton ● 2652d

You may well be right about their being a global recession. My point of course is that Brexit will make it worse especially for us. You clearly believe no such thing which puts you in a minority. The City has always contained contrarians and they are not always wrong.  However I tend to go with majority opinion and the balance of probabilities.

Jonathan Callaway ● 2652d

McDonnell "will expropriate our land and our children's inheritance".How would he do that? If contributors make such statements they must surely offer evidence.

Alexander MacLeod ● 2652d

So why are you going against the democratic majority who voted to leave the EU?

Chantal Blake-Milton ● 2652d

Do your research as this contributor has done.  Google John McDonnell's Land Tax aka "the Garden Tax".  Labour would also only allow a one life-time payment of £125,000 from parents to their children.

Chantal Blake-Milton ● 2652d

McDonnell was saying that if Johnson loses a vote of no confidence but refuses to leave office then Labour would have to take drastic action within the constitution to uphold democracy

Sean Hodges ● 2652d

The Shadow Chancellor and communist revolutionary said these words at the Edinburgh Fringe, clearly indicating who pulls the strings of the Labour party:"I don't want to drag the Queen into this but I would be sending Jeremy Corbyn in a cab to Buckingham Place to say, we're taking over"God forbid.

Chantal Blake-Milton ● 2652d

Because I believe the majority of economists that any form of Brexit will be bad for our economy. More broadly I believe - very strongly - that it damaging our international standing and threatening the unity of the UK. I may even be in a majority now who believe the same. Why not ask the people to reaffirm their view before we take an irrevocable and hugely expensive step into the unknown?  Wholly democratic to put it to a vote. How can a people’s vote not be wholly democratic?

Jonathan Callaway ● 2652d

Oh Sue, Sue.It is not about who steers the EU but the effects on the global economies due to the US-China tensions.If you had not realized yet, the economy of a country is intertwined with the economies and economic policies of all others, at least all others that have strong influence.

Ivonne Holliday ● 2652d

"Labour would also only allow a one life-time payment of £125,000 from parents to their children."From the perspective of the "common man/woman" - ie the majority - that's a lot of money. But evidently not for you.

Alexander MacLeod ● 2651d