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German retail sales plunge 2.8% M/M in October, with the fall the sharpest in almost two years....

  • Friday, November 30, 2012, 3:19 AM ET
    German retail sales plunge 2.8% M/M in October, with the fall the sharpest in almost two years. The decline was worse than the drop of 0.1% that was expected and the rise of 0.5% in September. Nominal turnover was -2.5% in October.
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This news story has 4 comments:

  •  
    the famous Perot line .... hear that sucking sound ? Germany is about to become a hotbed of political turmoil as the masses are not going to put up with paying for Greece AND go into a recession. The coalition supporting the euro will come under severe pressure.
    30 Nov 2012, 12:03 PM Reply Like
  •  
    They stripped a lot of periphery Europe of their production over the last many years and now they need to allow it to break so they can buy up assets(countries) inexpensively when their fx appreciates vs the cheaper fx of broken Europe.
    30 Nov 2012, 01:13 PM Reply Like
  •  
    Austerity wins again!
    30 Nov 2012, 03:12 PM Reply Like
  •  
    Let's understand something about austerity. You cannot fix 20 years of undisciplined borrowing and spending casually on consumer goods in 6 months of austerity. Austerity fixes things over the long term. We have to destroy all our debt. The austerity has only begun.

    Maybe we will think twice about causally spending today the future money we and our grandchildren expect to earn.

    Debt is a deal with the Devil, always has been. Austerity is the punishment we get for our sin of undisciplined borrowing and spending.
    3 Dec 2012, 01:45 PM Reply Like
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