That these comparisons to January 2009 are suddenly cropping up is unnerving. Stocks are rolling over.
Germany, which is supposed to pull the Eurozone out of its funk, is sinking into a funk of its own.
This shouldn’t have happened. Where is the euphoria?
German consumers are supposed to save the Eurozone – and the global economy – but economic expectations “completely collapsed” last month and now dropped again.
A true debacle is unfolding. Just when we thought the euro was finally safe.
Obscured by stock market hoopla, and under the leadership of our fearless Treasury Secretary Jack Lew, the G-20 finance honchos fret about faltering global growth.
Targeted by an ever tightening sanction spiral, Russian companies and individuals decided not to be sitting ducks.
The “faster rotating sanctions spiral with Russia” causes the worst plunge in the history of the German consumer index going back to 1980.
The folks at the German Finance Ministry belatedly follow WOLF STREET and admit that sanctions caused Germany’s economic swoon.
“The glue of the sanctions is starting to dry.”