austerity energy crisis euro European Union Germany global crisis inequality Inflation market crash neoliberalism ordoliberalism public spending secular stagnation
The Year 0 of Germany
March 20, 2024This is striking! The energy crisis of 2022 has been the worst economic crisis in Germany since WWII when looking at the decline of real wages. The increase in the price level is very likely permanent – those with savings have unexpectedly lost some of their purchasing power. The real estate owners (upper middle class)…
Japan, mirror of the world
June 29, 2021 Japan is the world’s laboratory. It’s in this country that in 2001, for the very first time, the famous quantitative easing measures were put in place that tried to break the believed-to-be impenetrable barrier of zero interest rates that had been set in 1999. It was a revolutionary endeavour for the time, led by…