Summary
Germany’s GDP contracted by 0.2% in 2024, marking the second consecutive year of economic decline after a 0.3% drop in 2023.
The economy has been hit by a cost of living crisis, driven by high energy prices following the loss of Russian gas supplies, inflation, and reduced export demand, especially from key markets like China.
Political instability has worsened the situation, with Chancellor Olaf Scholz’s coalition collapsing in November over disagreements on debt policies, triggering snap elections amidst economic uncertainty.
Ditch the GDP, it doesn’t count what truly matters in a civilized society anyway.
The rich don’t buy much comparative to their wealth, they accumulate wealth.
The poor have been bled dry, there is nothing left to give.
“Okay, guess I’ll just keep importing new poor people then.” -Rich people
