5 ms·

Employment Barometer in Germany Falls Further

17 points by rustoo 2y ago

deleted 2y ago
[deleted]
nostromo 2y ago
It must be difficult to be one of the few fiscally responsible developed nations. It’s a bit like how if everyone on your block was racking up massive amounts of debt to buy lavish goods and throw parties. By comparison you’d feel poor, even if your income was similar. Not until the music stops would your neighbors suddenly be worse off. It also must be frustrating that in a global economy, everyone is hit with inflation, not just the countries printing massive amounts of currency. Countries like Germany still have to pay the price, even though they’re not reaping the benefits.
- rightbyte 2y ago
  Well SPD might need to throw more parties or they will be replaced by AfD and Linke.
- epolanski 2y ago
  The other side of the coin is that Germany being fiscally responsible can now splurge huge amounts of money and take massive amounts of debt in times of need. The issue is...they don't really have clear plans on how and what to do. You can't just throw money at "innovation" and hope it happens.
epolanski 2y ago
Germany's paying almost two decades of Merkelnomics, and Europe is paying for it's choice of favoring exports outside the EU rather than focusing on building a strong internal market. The economic union is still not a union when laws and taxes and regulations still heavily change from country to country. Merkel's decision on not taking drastic measures and the over reliance on Russian energy (as a matter of fact the second pipe between Russia and Germany started being built after 2014 is now showing its shortcomings. Volkswagen focused on Chinese and overseas markets and as soon as those disappeared it started cracking. That's just the tip of the iceberg. EU has plenty of ways to steer the ship, we went from an economy as big as the US one in 2000, to being half the size of it. EU has money and capabilities to move forward, but a lot has to be done not just giving hundreds of billions in generic "innovation" over the next year's, but also by reforming our corporate law. As a former startup founder I had more incentives into incorporating in Delaware from Italy than in my own country. Why? Because stock options essentially do not exist here. But I can't be giving equity straight ahead to people that I don't know what they will bring. There's also too much laws protecting employees. Way too much. It's very hard to fire people here, this creates also a stagnating job market where workers don't want to risk losing their security for a better job where they will be on trial for 2/3/6 months before protections kick in. There's many things on which Europe keeps being behind but populist agendas won't face it. We'll still hear how they will pour hundreds of billions in startups, that will move to UK or US as soon as they can because being an entrepreneur in Europe only gets you
- vr46 2y ago
  Germany is a disaster zone in a number of ways, but it is as easy as pie to fire people in companies with fewer than 10-12 people so startups can move quickly there. Starting a startup on the other hand is damn near close to test-tube fusion and even then makes you think, why would I bother? So fucking hard to enter any kind of industry or profession here, and most industries do not share the value like companies in the US do. It’s a country of dragons hoarding wealth.
  - Rinzler89 2y ago
    > It’s a country of dragons hoarding wealth. So true and applies to every EU member state. It's why the EU is not the US, and can never be like the US and compete against the US, even if all things were equal like labor laws and such. Unlike the US, there's no such thing as a unified European culture, European language, European law, European army, etc. Every EU member state wants to be its own dragon hoarding wealth at the top of the union, the expense of the other members in the union, leading to internal squabbles and back stabbings, while the US and China steam ahead gaining more and more of the global GDP.
- MrHamburger 2y ago
  Additionally state pensions are beginning to be a positive feedback loop with protentional to wreak havoc across Europe - there is not enough young people to keep the financial plane flying, but there is constantly growing amount of pensioners who don't care about the future. Thus populists have simple job: constantly promising increasing of pensions. Pensioners will then always outvote young ones and there will be no chance for a change.
- dools 2y ago
  All countries in the Eurozone monetary system are hamstrung by the fact that they don’t issue their own currencies. There is no fiscal authority at the same level as the monetary authority so they’re like states rather than countries but with no federal government.
  - mixdup 2y ago

17 points by rustoo 2y ago

deleted 2y ago

[deleted]

It must be difficult to be one of the few fiscally responsible developed nations. It’s a bit like how if everyone on your block was racking up massive amounts of debt to buy lavish goods and throw parties. By comparison you’d feel poor, even if your income was similar. Not until the music stops would your neighbors suddenly be worse off. It also must be frustrating that in a global economy, everyone is hit with inflation, not just the countries printing massive amounts of currency. Countries like Germany still have to pay the price, even though they’re not reaping the benefits.

rightbyte 2y ago
Well SPD might need to throw more parties or they will be replaced by AfD and Linke.
epolanski 2y ago
The other side of the coin is that Germany being fiscally responsible can now splurge huge amounts of money and take massive amounts of debt in times of need. The issue is...they don't really have clear plans on how and what to do. You can't just throw money at "innovation" and hope it happens.

epolanski 2y ago

Germany's paying almost two decades of Merkelnomics, and Europe is paying for it's choice of favoring exports outside the EU rather than focusing on building a strong internal market. The economic union is still not a union when laws and taxes and regulations still heavily change from country to country. Merkel's decision on not taking drastic measures and the over reliance on Russian energy (as a matter of fact the second pipe between Russia and Germany started being built after 2014 is now showing its shortcomings. Volkswagen focused on Chinese and overseas markets and as soon as those disappeared it started cracking. That's just the tip of the iceberg. EU has plenty of ways to steer the ship, we went from an economy as big as the US one in 2000, to being half the size of it. EU has money and capabilities to move forward, but a lot has to be done not just giving hundreds of billions in generic "innovation" over the next year's, but also by reforming our corporate law. As a former startup founder I had more incentives into incorporating in Delaware from Italy than in my own country. Why? Because stock options essentially do not exist here. But I can't be giving equity straight ahead to people that I don't know what they will bring. There's also too much laws protecting employees. Way too much. It's very hard to fire people here, this creates also a stagnating job market where workers don't want to risk losing their security for a better job where they will be on trial for 2/3/6 months before protections kick in. There's many things on which Europe keeps being behind but populist agendas won't face it. We'll still hear how they will pour hundreds of billions in startups, that will move to UK or US as soon as they can because being an entrepreneur in Europe only gets you

vr46 2y ago
Germany is a disaster zone in a number of ways, but it is as easy as pie to fire people in companies with fewer than 10-12 people so startups can move quickly there. Starting a startup on the other hand is damn near close to test-tube fusion and even then makes you think, why would I bother? So fucking hard to enter any kind of industry or profession here, and most industries do not share the value like companies in the US do. It’s a country of dragons hoarding wealth.
- Rinzler89 2y ago
  > It’s a country of dragons hoarding wealth. So true and applies to every EU member state. It's why the EU is not the US, and can never be like the US and compete against the US, even if all things were equal like labor laws and such. Unlike the US, there's no such thing as a unified European culture, European language, European law, European army, etc. Every EU member state wants to be its own dragon hoarding wealth at the top of the union, the expense of the other members in the union, leading to internal squabbles and back stabbings, while the US and China steam ahead gaining more and more of the global GDP.
MrHamburger 2y ago
Additionally state pensions are beginning to be a positive feedback loop with protentional to wreak havoc across Europe - there is not enough young people to keep the financial plane flying, but there is constantly growing amount of pensioners who don't care about the future. Thus populists have simple job: constantly promising increasing of pensions. Pensioners will then always outvote young ones and there will be no chance for a change.
dools 2y ago
All countries in the Eurozone monetary system are hamstrung by the fact that they don’t issue their own currencies. There is no fiscal authority at the same level as the monetary authority so they’re like states rather than countries but with no federal government.
- mixdup 2y ago