Quote (Black XistenZ @ Nov 28 2024 09:59am)
Like I've said before, it's not just the loss of cheap Russian energy. Starting in 2021-2022, Germany got hit by a multifaceted whammy, but you try to pin the blame exclusively on one singular factor, because that would support your broader argument.
1.: Even if Germany had refused to join the Western sanctions, it would still have lost most access to Russian energy.
2.: Even if we still had access to Russian gas, the repercussions of the Ukraine war affected the global energy market and sent oil and gas prices from any source or country of origin soaring. The US are near-self-sufficient on oil these days and their customers were still bled dry at the gas pump.
3.: The German economic boom of the 2010s was fueled in no small part by the ultra-loose fiscal policy of the ECB. The sudden interest rate hikes were always gonna stiffle our economic growth, and these hikes would have been necessary due to the post-covid inflation anyway, even in a hypothetical world in which the outbreak of the Ukraine war had been averted.
4.: Our country had been betting on the wrong horse in terms of energy policy for 2 decades and this miscalculation is now coming home to roost.
5.: Dito for the climate craze and the transition to EVs, which is hitting our core industry hard right now and has nothing to do with Ukraine/Russia. Other western carmakers like Ford aren't doing too hot right now, either.
6.: Our lack of innovation and R&D investment as well as our crumbling infrastructure have now reached a point where it's impacting growth.
7.: Almost a decade of misguided public spending on "refugees" has drained our public finances with little to nothing to show for it.
8.: The sputtering global economy post-covid is hitting all export-focused nations particularly hard. Japan and South Korea didn't lose access to Russian energy and are still bogged down in economic malaise. China isn't technically in a recession, but their growth rates are also several percentage points below their usual baseline.
Was the Ukraine war a disaster for us? Absolutely. But this simplistic narrative that we would be thriving if only we weren't so "stupidly loyal to the US" and would align more with our benevolent friends in Russia doesn't hold up to scrutiny.
A well thought out and balanced post, thank you.
in response:
My main gripe is that Germany refuses to act as a leader in Europe. it is on board a ship instead of steering the ship. I wanted Germany to steer, unfortunately it is not in control of its own fate. Heretofore we (well me) in europe saw Germany as a powerhouse, and assumed it looked at the Ukraine situation realistically and realized (as Mrs Merkle did) that Ukraine in Nato was a non-runner. As you are well aware, I am a fan of Angela Merkle. While she was not perfect (no one is) my position is that the West (notably the United States) betrayed her legacy. Mrs Merkle had made attempts, via Nord Stream etc, to strengthen ties and co-operation with Russia, as a safe guard, to ensure lasting peace. She was literally just out the door when the US Russia talks broke down and Russia invaded Ukraine. My argument is that if Germany told the US to stop supporting/creating (pick your word) conflict between Ukraine and Russia, then Russia would not have invaded Ukraine, Nord Stream would not have blown up and we would not have an energy crisis to this degree. i.e. her policy re: energy was sound, she just did not factor in her allies blowing up her legacy. Blaming her for what was done to her and Germany, by her allies, is a great injustice. This is my response to 1, 2 & 4.
3. I agree with you, its an irrefutable fact that the ECB has gone up and there are knock on consequences.
5. I would balance my response by stating that Germany's position is not helped by its allies (US) dealings with China. Germany is screwed in that it either trades with China, (understand there is a spectrum when i use the word trade) and suffers the wrath of the US, or it does not trade with China and its position declines, either way there are issues that it is struggling with.
6. No comment (neither agree nor disagree, tend to agree)
7. No comment (neither agree nor disagree, tend to agree)
8. Yes, fine
My argument is Germany would be in a much better position if Russia did not invade Ukraine, that germany could have been more forceful to ensure that, and that germany would be in a much better position if a certain country did not blow up Germany's cash cow. here i refer to international trade (NS, China).
This post was edited by ferdia on Nov 28 2024 04:43am