German consumers are supposed to save the Eurozone – and the global economy – but economic expectations “completely collapsed” last month and now dropped again.
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.
The powerful engine that is supposed to pull Europe out of its quagmire? It stalls as the sanctions hit. The “disaster of 2008” is evoked, then hastily denied.
European Council President Van Rompuy had a dream: the sanctions “should have a strong impact on Russia’s economy” but only “a moderate effect on EU economies.”
by Wolf Richter • • Comments Off on German Miracle Economy Trips, Good Weather Gets Blamed
After a decent first quarter, a lot of iffy data has cropped up in Q2. Today, industrial output added to the woes. The weather got blamed … the warm weather in Q1 that caused the drop-off now! I mean, come on!
