•   
  •   

Money economy: "If all poorer will come from the crisis"

05:30  25 september  2022
05:30  25 september  2022 Source:   pressfrom.com

The crises through the EU at the heart of the discourse on the state of the Union of Ursula von der Leyen

 The crises through the EU at the heart of the discourse on the state of the Union of Ursula von der Leyen © AP - Virginia Mayo The president of the European Commission, Ursula von der Leyen. The president of the European Commission, Ursula von der Leyen, is to deliver her general policy speech before the European Parliament on Wednesday. It is expected on many subjects, such as inflation or the energy crisis.

The immense loss of purchasing power and the cost explosion due to high energy prices for companies lead the German economy straight into the recession. Marc Schattenberg from Deutsche Bank Research even sees a decline in economic output of 3.5 percent next year.

Nach Einschätzung von Volkswirten dürften alle ärmer aus der Krise kommen. © Christoph Soeder/dpa According to economists, all poorer should come out of the crisis.

other economists, according to a dpa survey, see the effects a bit milder, but the economy is still clearly on a downturn. "The economic downturn will also leave traces on the labor market," said Fritzi Köhler-Geib, chief economist of the state sponsoring bank KfW.

Emmerdale to air Home Farm drama after Jamie twist

  Emmerdale to air Home Farm drama after Jamie twist Kim struggles with Millie's arrival.Emmerdale will air more Home Farm drama following Jamie Tate's latest twist.

Above all, private households and their purchasing power have to make it difficult to springs. "Due to the high inflation, the financial situation of private households has deteriorated considerably since the beginning of the year," commented Köhler Geib. “In the second quarter, the available income of private households after deducting the inflation rate was 1.9 percent lower than in the previous year's quarter. In the second half of the year, real income is expected to continue to decrease, »she said.

"The loss of purchasing power dampens consumption and together with the increased interest rates also private housing." Marc Schattenberg sees it similarly: "A large part of the households will have to cope with noticeable real income losses." Katharina Utermöhl, economist at the Allianz Group, sums up the situation even more clearly: "We will all get out of the crisis."

Truss vows ‘decade of dynamism’ in hint at more tax cuts

  Truss vows ‘decade of dynamism’ in hint at more tax cuts The Prime Minister and Chancellor Kwasi Kwarteng defended their controversial raft of tax cuts amid accusations they mainly benefit the rich.Using more than £70 billion of increased borrowing, Mr Kwarteng announced the biggest programme of tax cuts for 50 years, including abolishing the top rate of income tax for the highest earners.

not enough in consciousness

Germany through the most severe crisis of the past 50 years. "This puts the big financial crisis and the euro debt crisis in the shade," she said. The inflation pain must now be cushioned. On the one hand through the state's fiscal policy measures, but also through savings behavior of private individuals.

There has not yet been enough awareness here, said Christoph Siebecke from Oldenburgische Landesbank. «Politics should not affect the price too much. Otherwise the households will not react, »he said to the discussion about the possible capping of energy prices. "The savings of savings for consumers must remain noticeable," says Veronika Grimm, member of the Federal Government's Council of Experts, the so -called "economic methods".

For them, one of the key to how Germany will be able to cushion the crisis, the provision of enough energy. «You should exploit all options on the offer page. The range of energy must be increased, »she emphasized. "I have the feeling that not everyone is aware that the renewable energies alone will not be available quickly enough as a replacement," she added. For example, two coal -fired power plants went back to the net. "The nuclear power plants should continue to run in the coming year and not only be on business," she said.

Ministers deny economic turmoil due to mini-budget as Tory backbenchers left fuming

  Ministers deny economic turmoil due to mini-budget as Tory backbenchers left fuming Ministers have denied this week's economic turmoil is because of the mini-budget announcement while backbench Tory MPs have expressed their anger at the government's failure to do anything to help. © PA Rishi Sunak will not be attending the conference One senior minister told Sky News it was "bulls**t" Wednesday's market crisis was related to last week's tax cut announcements funded by borrowing.

Kartellamt is required

Siebecke in this context asked the energy companies to immediately pass on discounts on the markets to customers. "The world market prices are now far away from the highs that we have seen before," he said. "It would be good if the cartel office could look even more."

Deutsche-Bank-Volkswirt Marc Schattenberg believes that the really big problems will only be rolled up on Germany in the first and second quarter of the next year. If the gas storage tank, well -filled before the winter, has to be emptied and gas on a large scale had to be bought for refilling, the price will continue to rise. At the same time, the municipal utility contracts that are often reduced at the turn of the year would eat strong holes in the pockets to private gas customers.

The economists expect more insolvencies to occur in the course of the energy price crisis - especially for smaller companies with a high proportion of energy costs. Export will also suffer because the trading partners abroad would also have to accept loss of purchasing power, said Köhler-Geib. In this context,

also advocated moderate wage financial statements in the upcoming collective bargaining. "The argument of the full order books will lose strength," said Schattenberg. And Veronika Grimm emphasized: «The negotiation power of the unions is great due to the shortage of skilled workers. On the other hand, many companies are under pressure. It remains to be seen what that means for the degrees. »

China: Xi Jinping caused a good real estate crisis .
© Pool XI Jinping pillar of the second world economy, housing is the victim of zero-Cavid policy. The Chinese President persists, after having already served the tech sector. And the Krach threatens. A few weeks before the 20th Congress of the Chinese Communist Party which should grant a third term to Xi Jinping, An already worrying problem takes on an increasingly alarming proportions.

usr: 1
This is interesting!