German January Industrial Output Drops Most on Record

Country after country, central bank after central bank, institution after institution are reporting an endless stream of numbers the likes of which, by their own admission, haven’t been this bad since a good many years. Financial and economic metrics are now routinely compared to the crisis of 74, the Great Depression, the S&L crisis and whatnot. And yet, even though it is by now pretty much clear how we got into this mess and what the problem is, government after government think we can get out of this jam by printing money, spending more and encouraging consumers to borrow more…. which reminds me of the definition of insanity…

Anyway… drops in industrial output lead to layoffs, which lead to decreased demand, which leads to less revenue for the state which leads to state bankruptcy, which leads to…. you know where I am going with this.

Be proactive in protecting your wealth folks.


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