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German December exports -4.3% M/M vs. +2.6% in November, consensus of -1%. It's the sharpest...

German December exports -4.3% M/M vs. +2.6% in November, consensus of -1%. It's the sharpest fall since Jan. 2009. Exports to the eurozone -3.3% Y/Y. Imports -3.9% M/M vs. +0.6% consensus. Trade surplus falls to €13.9B ($18.46B) from €14.9B in November. For 2011, exports reach a record €1.06T, imports €902B. (PR)
Comments (7)
  • Oops.

     

    Thought everything was so wonderful last week in Germany, or was that just more positive spin?

     

    They lie so often they can't keep the stories straight.
    8 Feb 2012, 04:14 AM Reply Like
  • Thought you might enjoy that, Dr. V. The better one gets at lying the more natural it becomes.
    8 Feb 2012, 10:44 AM Reply Like
  • For bulls, it's proof that you don't need an improving economy to have a positive stock market performance.

     

    Germany is up huge since its bottom last year.

     

    Food for thought.
    8 Feb 2012, 09:31 AM Reply Like
  • Actually. until the DAX returns to 7500, they are deep in it.

     

    Almost every German Industrial has lost 50% of it's shre price, along with 50% of it's Mkt. Cap.

     

    It would have to hit 15000, just to get back to even.

     

    Roger Montgomery:
    "The German banks are as bad or worse than the French. Did you know that Deutsche Bank is levered 60:1 on a TCE/assets basis, and that its Basel “risk-weighted” assets are only $450 billion, but actual balance sheet assets are $3 trillion?

     

    * In other words, due to the Basel standards, which count sovereign and other AAA assets as risk free, DB has $2.5 trillion of assets with zero capital backing"

     

    He is right.
    9 Feb 2012, 06:12 AM Reply Like
  • Dr.V,

     

    All that is true. Just referring to the relative performance from the recent bottom - which is why value investing is so challenging.

     

    It could be argued that the current German economic stats are actually worse than they were 3 months ago - I don't see an improving trend and yet the market rises.

     

    Just saying, the apparently obvious connection between GDP and market performance is not serially correlated.
    9 Feb 2012, 09:55 AM Reply Like
  • My bad, indeed.

     

    Misunderstood your comment, I too see no coherent connection to their positive spin.

     

    WSJ reported today (European Edition), that France & Germany better start getting their act together regards "risk weighted assets".

     

    The EBA announcement is here:

     

    http://bit.ly/yPG3aQ

     

    see Overview of Capital Plans (related document - right column)

     

    What troubles me is, nobody likes to call them out on their obvious bullsh*t.

     

    I am actually debating whether or not to take out a full page add in a major European financial, just to let them know, we know.
    10 Feb 2012, 05:13 AM Reply Like
  • that's right, conventional, all that you need is TPTB supported equity markets coordinated to achieve certain appearances at certain times, then occaisonally letting a little air out of the balloon

     

    i am a bull on mankind and economic activity and the ability of any ruling power to render any fiat currency worthless, thereby increasing the nominal value of anything real

     

    i am a bear on volatility simply because TPTB need crisis to affect their policies on political domination
    8 Feb 2012, 12:57 PM Reply Like
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