Germany falls into recession - Page 2 - Mercedes-Benz Forum

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post #11 of 20 (permalink) Old 11-13-2008, 02:00 PM
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Have I offended you, chum?
Warum die "dumm dumm"? Oder war dass nicht für mich?
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post #12 of 20 (permalink) Old 11-13-2008, 10:17 PM
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Have I offended you, chum?
Warum die "dumm dumm"? Oder war dass nicht für mich?
The fools were still fighting the last war .. six months ago.
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post #13 of 20 (permalink) Old 11-15-2008, 01:51 AM
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FT.com / Companies / Automobiles - Porsche makes ?6.8bn from VW trades

"Porsche on Friday fuelled the controversy over its stake building at rival Volkswagen by revealing it had earned eight times as much from its VW option trades than from actually selling cars."

"...Analysts dubbed Porsche a “hedge fund”, and even one of the most successful ones in the world, at a time when other carmakers are struggling with a sharp downturn."
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post #14 of 20 (permalink) Old 11-15-2008, 02:20 AM
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FT.com / Companies / Automobiles - Porsche makes ?6.8bn from VW trades

"Porsche on Friday fuelled the controversy over its stake building at rival Volkswagen by revealing it had earned eight times as much from its VW option trades than from actually selling cars."

"...Analysts dubbed Porsche a “hedge fund”, and even one of the most successful ones in the world, at a time when other carmakers are struggling with a sharp downturn."

A German friend of mine had options for VW shares when Porsche made the announcement aVW shares were shorted by hedge funds and VW shares shot up to a high 1005 Euro from about the mid-30's or 40's. He said he dumped all of his options before the high but it was near there.
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post #15 of 20 (permalink) Old 11-15-2008, 03:16 AM
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Who's falling ?
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post #16 of 20 (permalink) Old 11-15-2008, 03:24 AM
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post #17 of 20 (permalink) Old 11-15-2008, 07:39 AM
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Germany has been in a recession for a while.

Un employment has been at record levels for a long time. Housing problems have been extreme. Germans are taxed on everything. 19% VAT is absolutely awful. Public service and government jobs dont pay enough. My wife was a elementary school teacher before we left and she made 1500 euro a month!!!!!! 1500, after taxes, thats it. You cant live off of 1500 euro a month, with all those taxes, high prices for everything especially gas. She took a job in Luxembourg and even though she drove 33 miles one way 5 days a week she still made almost two times more money.

There is a west vs. east sentiment in western germany. They feel they are paying for all of the eastern infastructure improvemnts while the west is crumbling. Alot of jobs that were in the west have shifted to the eastern states because its slightly cheaper there.

Turks are a huge problem. they have invaded Germany with their kebap shops and their crap used car lots. Just like mexicans they will work without benifits for half the money and never complain. At one time germany was offering incentives for turks to come to germany. Free education is becoming a thing of the past in germany. Free health care isnt free anymore.

Germany was faling apart when I left. All the old timers saw it coming and they blame everything on the east and the turks. but the final nail in the coffin for germanys' economy was going to the Euro, all of a sudden everything was twice as expensive as with the oid DM and they didn't have the leverage they used to now that all countries use the same currency while not puting out as much product.

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post #18 of 20 (permalink) Old 11-15-2008, 12:27 PM
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Interesting post. Sounds like Kali.
Construction , farm workers are hired openly illegal with no fear of the INS. Home Depot parking lots are filled with people standing around for day jobs.
Most of the new infrastructure (schools, highways etc) are spent on the inland empire when coastal highways are left to rot in pothole city.
Free benefits are given to all regardless of origin and legal status.
I have always said the EU is an unnatural union which can only form during a prosperous economic period , and will disband at the crisis unfolding now.
The Germans are going to decide they have had enough of being the sugar daddy for the EU without any control. Spain, Italy, Ireland and England are a mess.
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post #19 of 20 (permalink) Old 11-15-2008, 01:58 PM
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mercedes-benz announced reduced production targets for 2009 - and indicated that it might have to ask for Government assistance if it is unable to raise funds on the open market.(Der Spiegel)
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post #20 of 20 (permalink) Old 11-15-2008, 06:24 PM
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Originally Posted by andy380SEC View Post

Germany was faling apart when I left.
Germany's economy exhibits relatively low leverage overall and enjoys a relatively high current-accounts surplus. They're feeling the worldwide downdraft--at this point, who isn't--but we should be so lucky to be in their shoes.
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