Thread: Germany Officially In Recession

Germany Officially in Recession


November 17, 2008 | From theTrumpet.com
Europe’s largest economy plunges into worst recession in 12 years.


Germany sank into recession last week after government figures showed its economy had shrunk for two consecutive quarters.

The gross domestic product dropped by 0.5 percent in the third quarter, following a 0.4 percent drop in the previous quarter. These results were worse than experts expected. The statistical office blamed falling exports and a large increase in imports for the fall in gdp.

Economists are predicting the third-quarter slump to be only the beginning. The German government’s independent panel of economic advisers predicts no growth for 2009. Other economic forecasts portray an even grimmer situation, with the German economy dropping 0.6 percent next quarter and in early 2009. Gilles Moec, European economist at Bank of America, warned that the “worst is yet to come.â€

After the history of a madman coming to power, I can't blame the German Government for being a little apprehensive. Afterall, it caused the destruction of the continent, except for neutral Switzerland, Spain and Portugaul. The Russians alone lost some 20 million lives military and civilian. 6 milion Jewsh people, and another 5 million Europeans died in death and slave labor camps.

The question that begs to be asked is, if thee German Government was worried about the extremism of the past, then why did the German Government let things get this bad in the first place?