Post by bato2 on Jan 6, 2012 4:35:22 GMT -5
Germany Has 5 Trillion Euros of Hidden Debt, Handelsblatt Says
Germany’s public debt is much higher than officially shown, Handelsblatt reported, citing calculations by Bernd Raffelhueschen, an economics professor at Freiburg University.
Apart from 2 trillion euros ($2.7 trillion) of public debt, there are liabilities of another 5 trillion euros because of shortfalls in the social security and pension funds, according to Raffelhueschen, the newspaper said.
1) Most German Industrials have lost 40-50% of share price and Mkt Cap since July 2011.
2) the following are not in the statistics:
a. Unemployed, but sick
b. Unemployed, but 58 years or older, and you have been living on unemployment paychecks for at least the past twelve months.
c. Unemployed, but forced to work in one of the countless community work projects, which pay between 1 and 2.50 Euro per hour.
d. Unemployed, but work in a marginal employment scheme for 1 Euro per hour (yes, unemployed people are FORCED to do that in Germany, or all their benefits will be cut off.
e. Unemployed, but forced by the state agency to attend one of their courses or workshops for "reintegration into the job market" or "skills improvement and acquisition", you count as employed as far as the statistics are concerned.
3). The consensus is that the government is running massive deficits, the federal government is sinking deeper in debt by tens of thousands of Euros every minute, and the interest rates are increasing to a point where the payments on them will consume all the revenues.
As the EU's largest debtor, Germany's current Government Debt is at 2.228 Trillion Euros, accounting for 30%+ of the EU's debt.
www.bloomberg.com/news/2011-09-23/germany-has-5-trillion-euros-of-hidden-debt-handelsblatt-says.html
Germany’s public debt is much higher than officially shown, Handelsblatt reported, citing calculations by Bernd Raffelhueschen, an economics professor at Freiburg University.
Apart from 2 trillion euros ($2.7 trillion) of public debt, there are liabilities of another 5 trillion euros because of shortfalls in the social security and pension funds, according to Raffelhueschen, the newspaper said.
1) Most German Industrials have lost 40-50% of share price and Mkt Cap since July 2011.
2) the following are not in the statistics:
a. Unemployed, but sick
b. Unemployed, but 58 years or older, and you have been living on unemployment paychecks for at least the past twelve months.
c. Unemployed, but forced to work in one of the countless community work projects, which pay between 1 and 2.50 Euro per hour.
d. Unemployed, but work in a marginal employment scheme for 1 Euro per hour (yes, unemployed people are FORCED to do that in Germany, or all their benefits will be cut off.
e. Unemployed, but forced by the state agency to attend one of their courses or workshops for "reintegration into the job market" or "skills improvement and acquisition", you count as employed as far as the statistics are concerned.
3). The consensus is that the government is running massive deficits, the federal government is sinking deeper in debt by tens of thousands of Euros every minute, and the interest rates are increasing to a point where the payments on them will consume all the revenues.
As the EU's largest debtor, Germany's current Government Debt is at 2.228 Trillion Euros, accounting for 30%+ of the EU's debt.
www.bloomberg.com/news/2011-09-23/germany-has-5-trillion-euros-of-hidden-debt-handelsblatt-says.html