Germany Readying Stimulus Plan
First the European Central Bank destroys the banks in Germany and elsewhere in Europe with negative interest rates. When this creates a recession risk, as anyone could have predicted, the German government considers even more bad economic moves. Do the “elites” ever learn anything?
(From The Business Insider)
The German government is considering a fiscal stimulus “designed to bolster the domestic economy and consumer spending to prevent large-scale unemployment,” according to Bloomberg, citing two people familiar with the matter.
The plan is likely a response to the German economy shrinking by 0.1% last quarter — its slowest pace of growth in six years. The surprise contraction has left it on course for a recession, defined as two consecutive quarters of declining output.
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