
Germany: Union Strikes Cripple Rail Network and Airports
The strikes brought Germany’s entire rail network to a standstill and resulted in more than 90,000 passengers being affected by flight cancellations.

The strikes brought Germany’s entire rail network to a standstill and resulted in more than 90,000 passengers being affected by flight cancellations.

With a welfare state that dominates their budgets, European governments are exceedingly vulnerable to a recession. When tax revenue declines and entitlements force governments to spend more, the inevitable result is larger budget deficits. What will the ECB do in response to that?

If government size and employment rate had been the same in 2022 as they were in 2000, the cost of today’s government would have been $47,000 per employed person. That is a lot of money—until we do the same arithmetic with today’s government size and employment rate. Then the cost comes out to $59,700.

German’s national train operator has announced that all long-distance trains will be cancelled, and the Frankfurt airport has cancelled all regular flights.

Several news sources have raised the volume about a possible systemwide banking crisis. I am not going to contribute to that. In fact, we should all be careful about determining whether or not such a crisis is at hand.

The Federal Reserve, eager to not let a good crisis go to waste, is using the SVB crisis to quietly turn on the money supply faucet again.

“The name of the game is containment now,” German MEP Markus Ferber said, referring to the fear that’s spreading faster than the actual problem.

A sensational statement by the Federal Reserve reveals how we are setting ourselves up for another destructive inflation episode.

The incumbent Prime Minister Kaja Kallas led the polls, but her leadership is far from secure, since poor energy policies and allegations of election fraud undermine her victory.

President Santokhi, who warned against the threat posed to his country’s “democratic institutions,” has set up a task force to track down those who stormed parliament.