10 October 2022

Politics, Economics, and Lies — German Edition

German inflation is much higher than the official numbers. Food, energy, housing: the true inflation is 56 percent. The article is in German, but Google translate does a nice job with German.

Are we shocked that politicians everywhere, in this case from Germany, lie about how bad things are?

Official inflation figures are around 10 percent. But many citizens notice in their everyday life: Prices are rising - in the supermarket, at the gas station - much faster!

The true inflation is much higher: That's why there is now the inflation radar from Pleiticker.de - you can find this updated daily on our homepage. We have calculated price developments in the areas that really matter: housing, energy and basic foodstuffs. With the latest figures, inflation there was a whopping 56.3 percent over the past year - and 11.6 percent over the past week alone. For the average net income of a German household (€3,600), this means a loss in value of €1,296. This is mainly driven by the rise in energy costs. The price of electricity has risen by an unbelievable 344 percent in the past year.

11 percent per week is verging on hyperinflation. And 56 percent in a year is not good.

Could you deal with your heating bill this winter being 4 times what it was last year? With the price of gas, and food going up as well? And when businesses close, and people are put out of work, what then?

Natural gas is virtually unavailable. Electricity is not affordable. And it is October. I think Germany, indeed all of Europe, is in for a tough winter.

Hat tip to Gates of Vienna and The Big Chill. There are links to three other articles in that post, which deal with the Greens in Germany being put in charge of energy, and the disaster that is unfolding as a result. That includes one link discussing how the German Minister for Economic Affairs and Climate Protection, a member of the Green Party, is seen as a clueless idiot by people around the world.

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