Over-65s, a large and growing demographic in Europe, are cutting their spending at worst possible time as NIRP eats into savings, pensions, investments, and annuities.
45 million people have been furloughed in Germany, the UK, France, Italy, and Spain, but the “unemployment” rate barely budged. Creating government-subsidized zombie companies & zombie jobs?
Foreign investors are fleeing, worried about surging inflation, deeply negative real interest rates, and a central bank unwilling to crack down on inflation.
