Pubblicato in: Finanza e Sistema Bancario, Fisco e Tasse

Germania. Grandi capitali in fuga verso la Svizzera. Paura delle sinistre.

Giuseppe Sandro Mela.

2021-09-25.

Julius Bar 001

Altro che grandi migrazioni di popoli! Dalla Germania stanno fuggendo verso la Svizzera come perseguitati politici ed economici i grandi miliardari ed i loro capitali.

Ed abbiamo dati certi solo per questo flusso, ma la stima verso altre nazioni non è certo da meno.

Un governo di sinistra in Germania sarebbe la loro morte.

* * * * * * *

«A potential lurch to the left in Germany’s election on Sunday is scaring millionaires into moving assets into Switzerland»

«If the centre-left Social Democrats (SPD), hard-left Linke and environmentalist Greens come to power, the reintroduction of a wealth tax and a tightening of inheritance tax could be on the political agenda»

«For the super-rich, this is red hot … Entrepreneurial families are highly alarmed»

«The move shows how many rich people still see Switzerland as an attractive place to park wealth, despite its efforts to abolish its image as a billionaires’ safe haven»

«No country has more offshore assets than Switzerland and inflows accelerated in 2020, to the benefit of big banks such as UBS, Credit Suisse and Julius Baer»

«Bank for International Settlements data show deposits of German households and companies at banks in Switzerland climbed almost $5 billion to $37.5 billion in the first quarter of 2021, and this does not include shares, bonds or financial products»

«Many wealthy people, especially entrepreneurs, fear that there will be a lurch to the left in Germany – no matter how the elections turn out»

«A poll on Thursday showed the SPD, on 25%, leading outgoing Chancellor Angela Merkel’s conservatives by four points»

«The SPD wants to reintroduce a wealth tax and increase inheritance tax, while the Greens – a likely potential coalition partner – plan to tax fortunes more heavily»

«Switzerland as a financial centre is characterized by stability, legal security and a high level of financial competence»

* * * * * * *

Il caso della Germania e dell’Unione Europea è paradigmatico del sistema ideologico delle sinistre.

Curano il paziente avvelenato somministrandogli ancor più veleno.

Poi, si lagnano se il sistema implode.

* * * * * * *


German millionaires rush assets to Switzerland ahead of election.

Zurich, Sept 24 (Reuters) – A potential lurch to the left in Germany’s election on Sunday is scaring millionaires into moving assets into Switzerland, bankers and tax lawyers say.

If the centre-left Social Democrats (SPD), hard-left Linke and environmentalist Greens come to power, the reintroduction of a wealth tax and a tightening of inheritance tax could be on the political agenda.

 “For the super-rich, this is red hot,” said a German-based tax lawyer with extensive Swiss operations. “Entrepreneurial families are highly alarmed.”

The move shows how many rich people still see Switzerland as an attractive place to park wealth, despite its efforts to abolish its image as a billionaires’ safe haven.

No country has more offshore assets than Switzerland and inflows accelerated in 2020, to the benefit of big banks such as UBS, Credit Suisse and Julius Baer. Geopolitical tensions and fears of the COVID-19 pandemic’s economic fallout made Switzerland’s political stability attractive.

Bank for International Settlements data show deposits of German households and companies at banks in Switzerland climbed almost $5 billion to $37.5 billion in the first quarter of 2021, and this does not include shares, bonds or financial products.

More recent figures are not available, but insiders say the inflows have continued. “I have booked an above-average amount of new money as in the past three months,” said a veteran client adviser at a large Swiss bank who deals mainly with Germans.

“Many wealthy people, especially entrepreneurs, fear that there will be a lurch to the left in Germany – no matter how the elections turn out,” says Florian Dürselen, head of Europe at wealth manager LGT Switzerland.

One top Swiss banker said: “I know a number of German entrepreneurs who want to have a foothold outside Germany if things get too red (leftist) there.”

                         TAX ON ASSETS

A poll on Thursday showed the SPD, on 25%, leading outgoing Chancellor Angela Merkel’s conservatives by four points.

The SPD wants to reintroduce a wealth tax and increase inheritance tax, while the Greens – a likely potential coalition partner – plan to tax fortunes more heavily. Although both envision raising income tax for top earners, a tax on assets would raise much more money, the tax lawyer said.

He was seeing increased demand for advice from clients, he said, noting some entrepreneurs had sought to protect themselves by making new investments through a company in Switzerland or transferring assets to a foundation in Liechtenstein.

Simply transferring cash to a Swiss bank account, on the other hand, no longer helps. Under immense international pressure, the Swiss now share such account data with tax authorities in clients’ home countries.

“Switzerland as a financial centre is characterized by stability, legal security and a high level of financial competence. However, it does not offer any protection against tax evasion,” said a spokesperson for the State Secretariat for International Financial Matters (SIF).

LGT’s Dürselen said he recently spoke with a German entrepreneur who feared Germany could soon tax foreign assets or transactions harshly, which fostered the view of Switzerland as a safe haven for capital.

“Personally, I assume that considerable assets will continue to be moved to Switzerland,” he said.

One local politician said dozens of wealthy German entrepreneurs have inquired in recent months about residing in one of the low-tax suburbs along Lake Zurich.

Pubblicato in: Banche Centrali, Devoluzione socialismo

Germania. Agosto21. PPI, Producer Prices of industrial products, +12% su agosto20.

Giuseppe Sandro Mela.

2021-09-21.

2021-09-21__ Germania PPI 001

Come riportato dall’Ufficio Federale di Statistica questo è stato l’aumento più alto rispetto al mese corrispondente dell’anno precedente dal dicembre 1974 (+12.4%), quando i prezzi aumentarono fortemente durante la prima crisi del petrolio.

                         In sintesi.

– +12.0% on the same month a year earlier

– Energy prices as a whole were up 24.0% compared to August 2020

– Mainly responsible for the high rise of energy prices were the strong increase regarding natural gas (distribution)

– Prices of intermediate goods increased by 17.1% compared to August 2020

– Compared to August 2020 intermediate goods’ prices increased especially regarding sawn timber (+124%) and metallic secondary raw materials (+104%) as well as wooden packaging materials (+89.4%) and reinforcing steel in bars (+87.2%).

– Metal prices were up 34.9% compared to August 2020

– Prices of metallic steel and ferro-alloys increased by 58.0%, prices of non-ferrous metals were up 23.0%

– the main reasons for the rise in steel and wood prices are likely to be increasing demand in Germany and abroad, problems in the supply of raw materials and sharp increases of import prices for iron ore (+109% from July 2020 to July 2021)

– Prices of crude vegetable oils were up 38.3%, butter prices rose by 16.4%

* * * * * * *

Questo macrodato, per di più se scorporato nelle sue componenti, renderebbe del tutto inverosimile il rilevamento di un processo inflattivo al solo 3.9%.

Finalmente, il 26 settembre in Germania sia vota.

*


Destatis. Producer prices in August 2021: +12.0% on August 2020

                         Pressrelease #442 from 20 September 2021

                         Producer prices of industrial products (domestic market), August 2021

+1.5% on the previous month

+12.0% on the same month a year earlier

*

Wiesbaden – In August 2021, the index of producer prices for industrial products increased by 12.0% compared with August 2020. As reported by the Federal Statistical Office this was the highest increase compared to the corresponding month of the preceding year since December 1974 (+12.4%), when prices rose strongly during the first oil crisis. Compared with the preceding month July 2021 the overall index rose by 1.5% in August 2021.

Mainly responsible for the increase of producer prices compared to August 2020 were the prices of energy followed by intermediate products.

                         Strong increase in prices for all energy sources

Energy prices as a whole were up 24.0% compared to August 2020 and by 3.3 compared to July 2021. Mainly responsible for the high rise of energy prices were the strong increase regarding natural gas (distribution).

The overall index disregarding energy was 8.3% up on August 2020.

                         Significant price increase on intermediate goods, especially regarding wood, secondary raw materials and metals

Prices of intermediate goods increased by 17.1% compared to August 2020. Compared to July 2021 these prices were up 1.4 %. Compared to August 2020 intermediate goods’ prices increased especially regarding sawn timber (+124%) and metallic secondary raw materials (+104%) as well as wooden packaging materials (+89.4%) and reinforcing steel in bars (+87.2%). Metal prices were up 34.9% compared to August 2020. Prices of metallic steel and ferro-alloys increased by 58.0%, prices of non-ferrous metals were up 23.0%. Also in August the main reasons for the rise in steel and wood prices are likely to be increasing demand in Germany and abroad, problems in the supply of raw materials and sharp increases of import prices for iron ore (+109% from July 2020 to July 2021). Also prices for basic chemicals showed a strong plus compared to August 2020 (+20.0%). Only few prices of intermediate goods fell compared to August 2020, one of them being wood in chips and particles (-15.9%).

Prices of durable consumer goods increased by 2.8% compared to August 2020, mainly caused by the price development of furniture (+3.9%). Prices of capital goods, such as machines and vehicles, rose by 2.4% (+0.6% compared to July 2021), mainly driven by the price development of metal structures and parts of structures (+13.9%) and of tanks, reservoirs and containers of metal (+9.1%).

                         Growth in prices of non-durable consumer goods mainly due to increasing prices for oils and fat

Prices of non-durable consumer goods increased by 2.1% compared to August 2020 and rose by 0.2% compared to July 2021. From August 2020 to August 2021 food prices increased by 2.6%. Prices of crude vegetable oils were up 38.3%, butter prices rose by 16.4%. By contrast, pork prices were down 3.1% and processed potatoes 2.1%.

Pubblicato in: Banche Centrali, Devoluzione socialismo, Economia e Produzione Industriale

Germania. Agosto21. Wholesale price +12.3% su agosto20. Inflazione che cresce.

Giuseppe Sandro Mela.

2021-09-18.

2021-09-14__ Germania Prezzi Ingrosso 001

«Wholesale price is the sum or amount of money for which products or services are offered for sale to business buyers who are purchasing in larger volumes. Purchasing at wholesale describes the sale of goods in quantity for resale.»

* * * * * * *

L’indice dei prezzi all’ingrosso (Wholesale Price Index, WPI) misura il cambiamento nel prezzo dei beni venduti da grossisti a grossisti.

Quanto più alto risulta questo dato, tanto maggiore sarà il suo impatto sull’inflazione. Si noti come questo macrodato sia in costante crescita.

* * * * * * *


Destatis ha rilasciato il Report Wholesale prices in August 2021: +12.3% on August 2020

                         Pressrelease #427 from 13 September 2021.

                         Wholesale selling prices, August 2021

+0.5% on the previous month

+12.3% on the same month a year earlier

* * *

Wiesbaden – In August 2021 the selling prices in wholesale trade rose by 12.3% compared with August 2020. This was the highest monthly annual rate of change since October 1974 after the first oil crisis (+13.2% compared with October 1973). In July 2021 and in June 2021 the annual rates of change had been +11.3% and +10.7%, respectively.
From July 2021 to August 2021 the index rose by 0.5%.

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale, Unione Europea

Blocco Europeo. 2021Q2. Pil -2.5%, occupati -2.1 milioni, comparati con 2019Q4.

Giuseppe Sandro Mela.

2021-09-11.

2021-09-08__ Eurostat Pil 001

Molto correttamente, Eurostat riporta le variazioni percentuali sul trimestre precedente.

Infatti, il 2020Q2 fu particolarmente depresso, per cui il rapporto 2021Q2/2020Q2 risulta essere abnormemente elevato, inaffidabile.

Sempre molto correttamente, Eurostat paragona questi macrodati con quelli del 2019Q4, ultimo trimestre prima della crisi pandemica.

«Based on seasonally adjusted figures, GDP volumes were 2.5% and 2.2% below their highest level of the fourth quarter 2019 for the euro area and EU. For the United States, GDP was 0.8% higher than the level of the fourth quarter 2019»

«employment in persons was 2.1 million in the euro area and 2.0 million in the EU below the level of the fourth quarter of 2019»

* * * * * * *


Eurostat ha rilasciato il Report GDP up by 2.2% and employment up by 0.7% in the euro area. In the EU, GDP up by 2.1% and employment up by 0.7%

                         GDP growth in the euro area and the EU

In the second quarter of 2021, seasonally adjusted GDP increased by 2.2% in the euro area and by 2.1% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2021, GDP had declined by 0.3% in the euro area and 0.1% in the EU.  

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 14.3% in the euro area and by 13.8% in the EU in the second quarter of 2021, after -1.2% in both zones in the previous quarter.

During the second quarter of 2021, GDP in the United States increased by 1.6% compared with the previous quarter (after +1.5% in the first quarter of 2021). Compared with the same quarter of the previous year, GDP increased by 12.2% (after +0.5% in the previous quarter).

                         GDP growth by Member State

Ireland (+6.3%) recorded the sharpest increase of GDP compared to the previous quarter, followed by Portugal (+4.9%), Latvia (+4.4%) and Estonia (+4.3%). Declines were observed in Malta (-0.5%) and Croatia (-0.2%).

                         GDP components and contributions to growth

During the second quarter of 2021, household final consumption expenditure increased by 3.7% in the euro area and by 3.5% in the EU (after -2.1% in the euro area and -1.7% in the EU in the previous quarter). Government final consumption expenditure increased by 1.2% in both zones (after -0.5% both in the previous quarter). Gross fixed capital formation increased by 1.1% in the euro area and by 1.0% in the EU (after -0.2% and +0.3% respectively). Exports increased by 2.2% in the euro area and by 1.8% the EU (after +0.7% in both areas). Imports increased by 2.3% in the euro area and by 2.2% in the EU (after +0.4% and +0.6%).

Household final consumption expenditure had strong positive contributions to GDP growth in both the euro area and the EU (+1.9 and +1.7 percentage points – pp, respectively). The contributions from government final expenditure (+0.3 pp in both zones) and gross fixed capital formation (+0.2 pp in both zones) were also positive. The contribution from the external balance was close to neutral for both zones, while the contribution from changes in inventories was slightly negative for the euro area and neutral for the EU.

                         GDP levels in the euro area and EU

Based on seasonally adjusted figures, GDP volumes were 2.5% and 2.2% below their highest level of the fourth quarter 2019 for the euro area and EU. For the United States, GDP was 0.8% higher than the level of the fourth quarter 2019.

                         Employment growth in the euro area and EU

The number of employed persons increased by 0.7% in both the euro area and in the EU in the second quarter of 2021, compared with the previous quarter. In the first quarter of 2021, employment had decreased by 0.2% in both the euro area and the EU.

Compared with the same quarter of the previous year, employment increased by 1.8% in the euro area and by 1.9% in the EU in the second quarter of 2021, after -1.8% and -1.6% respectively in the first quarter of 2021.

Hours worked increased by 2.7% in the euro area and by 2.4% in the EU in the second quarter of 2021, compared with the previous quarter. Compared with the same quarter of the previous year the increases were 17.0% in the euro area and 14.7% in the EU (see annex table on employment in hours worked).

These data provide a picture of labour input consistent with the output and income measure of national accounts.

                         Employment growth in Member States

In the second quarter of 2021, Latvia (+5.7%), Greece (+2.8%), Denmark and Portugal (both +1.9%) recorded the highest growth of employment in persons compared with the previous quarter. Decreases were observed in Estonia (-1.1%) and Spain (-0.9%).

                         Employment levels in the euro area and EU

Based on seasonally adjusted figures, Eurostat estimates that in the second quarter of 2021, 207.5 million people were employed in the EU, of which 159.0 million were in the euro area.

In relation to the COVID-19 pandemic, employment in persons was 2.1 million in the euro area and 2.0 million in the EU below the level of the fourth quarter of 2019.

                         Evolution of labour productivity in the euro area and EU

The combination of GDP and employment data allows an estimation of labour productivity. The analysis of growth compared to the same quarter of the previous year shows that productivity growth (based on employed persons) fluctuated around 1% for both zones between 2013 and 2018.

In relation to the COVID-19 pandemic, productivity based on persons increased compared to the same quarter of the previous year with 12.2% for the euro area and 11.6% for the EU.

Based on hours worked, productivity compared to the same quarter of the previous year decreased by 1.5% for the euro area and increased by 0.3% for the EU.

Pubblicato in: Devoluzione socialismo

Germania. Elezioni. Cdu al 20%, Spd al 25%, Grüne al 16%.

Giuseppe Sandro Mela.

2021-09-07.

2021-09-06__ Germania 001

Si tenga presente che nella Union al 20%, la Cdu ha il 14% e la Csu il 6%, circa.

Merkel ed il suo replicante Armin Laschet, che la cancelliera aveva imposto come candidato cancelliere, sono riusciti a distruggere la Union.

*


German election: Could there soon be a left-wing government?

Chancellor Merkel’s CDU is flagging in the polls — and conjuring up the familiar threat of a far-left takeover by an SPD-led coalition with former communists. But would such an alliance really be possible?

Chancellor Angela Merkel may be anxiously awaiting election day on September 26. Recent opinion polls indicate that after 16 years with her as head of government, the conservatives could end up in opposition.

In Thursday’s Deutschlandtrend opinion poll, her center-right Christian Democrats (CDU), together with their Bavarian sister party, the CSU, came in at just 20%. The clear number one were the conservatives’ current coalition partner, the center-left Social Democrats (SPD). If these numbers turn out correct, come election day, the SPD candidate Olaf Scholz could form a coalition with the Greens (16%) and the socialist Left Party (6%).

But does he even want to?

Unreconcilable positions on security

German parties are often referred to by their colors, where red stands for left-leaning, green for environmentalists, and black for conservatives. So could a “red-red-green” coalition come to pass at the federal level? Angela Merkel, who is not running for reelection, has warned against this: “With me as chancellor, there could never be a coalition involving the Left,” she stated on Tuesday. “And whether this is shared by Olaf Scholz or not, that remains open.”

Two days earlier, during a live TV debate with the other two candidates for chancellor — the CDU’s Armin Laschet and the Green Party’s Annalena Baerbock — Scholz refused to be drawn about a possible coalition with the far-left.

any coalition, including a commitment to the North Atlantic defense alliance (NATO).

The Left party wants to abolish NATO, put an end to all Bundeswehr missions abroad, and ban all weapons exports. Their election program states: “We call for the dissolution of NATO and its replacement by a collective security system with Russia’s participation.”

However, Germany’s withdrawal from NATO is an absolute no-go for the SPD and the Greens. For both parties, the transatlantic partnership is a pillar of their foreign policy.

So a red-red-green alliance is only conceivable if the Left party were to give in on this point. But there are no signs of that. In an interview with DW, the party’s co-chair and top candidate for the election, Janine Wissler, reiterated her rejection of NATO: “After the disaster we are currently experiencing in Afghanistan, I think there is one party that now has relatively little reason to reconsider its foreign policy positions. And that is the Left party.”

Although the Left party categorically rules out foreign deployments of the Bundeswehr, humanitarian “blue helmet” missions under the leadership of the United Nations (UN) might be a compromise.

There has also been some movement in the discussion about armed drones. These weapons, the use of which the Left party has flat-out rejected, are also controversial within the SPD. At their party conference in June, however, the Greens voted by a narrow majority in favor of using them to protect German soldiers if necessary.

Climate change, education, immigration

The overlap between the three parties on foreign and security policy is small. But in many other important areas, it should be easier for them to come together. Whether combatting climate change, education, finance, or health — programmatically they are relatively close. All are in favor of a complete switch to renewable energies, better digital infrastructure in administration, schools, and businesses, and higher minimum wages. A red-red-green coalition is also unlikely to fail over higher taxes, especially for the wealthy, which the Left Party and the SPD advocate for.

Things could get more difficult when it comes to migration and asylum policy. Although all three parties do not intend to curb immigration, the SPD candidate for chancellor has spoken out in favor of continuing deportations also to Afghanistan in certain cases. Olaf Scholz left no doubt about this in the DW interview: “It is right that someone who commits serious crimes cannot count on being able to stay here. And that is also part of the protection of refugees.”

Coalition alternatives

In purely mathematical terms, more alliances than ever seem possible. In theory, the SPD and the Greens are the most flexible. They could potentially team up with any party except for the far-right Alternative for Germany (AfD) – and indeed have already done so on the state level.

The pro-free market Free Democrats (FDP) and the CDU/CSU, on the other hand, reject coalitions with the left as a matter of principle. If the conservatives want Armin Laschet to become chancellor in the post-Merkel era, their only hope at the moment is to head a coalition with the FDP and the Green Party. This was already on the horizon after the 2017 federal election but failed after weeks of talks due to the surprising withdrawal of the FDP under leader Christian Lindner.

The CDU’s coalition partner at the time, the FDP, bought into the narrative: “Those who don’t want socialists and communists to again have a say, must choose the middle-class by voting for a strong FDP,” said then-party chairman and later Foreign Minister Guido Westerwelle.

The strategy may have paid off: This allusion to a communist threat and the emotions of the Cold War was seen as one of the decisive factors for the narrow election victory of Helmut Kohl’s black-yellow coalition government that year.

Critics lashed out at the CDU’s campaign, calling it an all-too-obvious attempt to discredit left-wingers. But the PDS took up the campaign aggressively and reinterpreted it as advertising for itself, printing red socks on a number of promotional items.

The SPD has always tread lightly on the issue of cooperation with the Left party. Now, as the conservatives are digging the trenches along the same old lines, SPD candidate Olaf Scholz has taken care not to commit to any alliance — but to not rule anything out either.

Pubblicato in: Commercio, Devoluzione socialismo

Germania. Luglio21. Prezzi delle importazioni +15.0% su luglio20.

Giuseppe Sandro Mela.

2021-08-28.

Destatis__001

Destatis ha rilasciato il Report Import prices in July 2021: +15.0% on July 2020

                         Import prices, July 2021

+2.2% on the previous month

+15.0% on the same month a year earlier

                         Export prices, July 2021

+1.2% on the previous month

+6.3% on the same month a year earlier

* * * * * * *

Wiesbaden – As reported by the Federal Statistical Office (Destatis), the index of import prices increased by 15.0% in July 2021 compared with the corresponding month of the preceding year. This has been the highest year-on-year-change since September 1981 (+17.4%). In June 2021 and in May 2021 the annual rates of change were +12.9% and +11.8%, respectively. From June 2021 to July 2021 the index rose by 2.2%.

                         High price increase mainly caused by energy price development

In July 2021 energy imports were 89.6% more expensive than in July 2020. This high rate of annual change derives from the very low prices in July 2020. The largest influence on the year-on-year rate of energy price increase in July 2021 had natural gas with a plus of 170.5% and crude oil with a plus of 68.9%.

The index of import prices, excluding crude oil and mineral oil products, increased by 12.2% in July 2021 compared with July 2020 and in comparison with June 2021 it rose by 2.0%.

The index of export prices increased by 6.3% in July 2021 compared with the corresponding month of the preceding year. This has been the highest year-on-year-change since January 1982 (+6.6%). In June 2021 and in May 2021 the annual rates of change were +5.0% and +4.2%, respectively. From June 2021 to July 2021 the index rose by 1.2%.

* * * * * * *

«import prices increased by 15.0% in July 2021 compared with the corresponding month of the preceding year»

«In July 2021 energy imports were 89.6% more expensive than in July 2020»

«The index of import prices, excluding crude oil and mineral oil products, increased by 12.2% in July 2021 compared with July 2020»

* * * * * * *

Un aumento dell’89.6% sull’imports energetico costituisce un enorme aggravio sui prezzi della produzione industriale.

Infatti il Core Producer Price Index, PPI, rilasciato il 20 agosto, era 10.4%.

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale

Germania. Luglio21. PPI, Producer prices of industrial products, +10.4% su Luglio20.

Giuseppe Sandro Mela.

2021-08-22.

2021-08-21__ Germania PPI 001

«+10.4% on the same month a year earlier»

«In July 2021, the index of producer prices for industrial products increased by 10.4% compared with July 2020»

«this was the highest increase compared to the corresponding month of the preceding year since January 1975 (+10.5%), when prices rose strongly during the first oil crisis»

«Prices of intermediate goods increased by 15.6% compared to July 2020»

«Compared to July 2020 intermediate goods’ prices increased especially regarding sawn timber (+110.7%) and metallic secondary raw materials (+100.2%) as well as reinforcing steel in bars (+81.5%)»

«Metal prices were up 32.2% compared to July 2020. Prices of metallic steel and ferro-alloys increased by 52.3%, prices of non-ferrous metals were up 23.2%»

«problems in the supply of raw materials and sharp increases of import prices for iron ore (+97.4% from June 2020 to June 2021)»

«Energy prices as a whole increased by 20.4% compared to July 2020»

«National CO2-pricing that has been introduced in January 2021 on several energy products also had a great impact on the price increase of energy»

«For example prices of natural gas sold to industrial consumers with an annual consumption of 116 300 MWh increased by 45.0% disregarding CO2-pricing, including CO2-pricing they rose by 56.5%»

«Prices of crude vegetable oils were up 37.4%, butter prices rose by 18.5%.»

* * * * * * *

Da tempo Destatis ha smesso di indicare nel Covid-19 la causa dell’inflazione attuale.

Sono i costi delle materie prime, ossia una inflazione importata, a generare questa crescita dei prezzi alla produzione dei prodotti industriali. A ciò si aggiungano gli effetti di una tassazione severa sui prodotti energetici, in omaggio alla teoria del clima.

Ma il sistema economico tedesco non può reggere a lungo dei rincari del 100.2% per le materie prime secondarie metalliche, dell’81.5% per l’acciaio in barre per cemento armato, del 97.4% per il minerale di ferro, né ad aumenti del 45% per l’energia.

* * * * * * *


Destatis ha rilasciato il Report Producer prices in July 2021: +10.4% on July 2020

                         Producer prices of industrial products (domestic market), July 2021

+1.9% on the previous month

+10.4% on the same month a year earlier

* * *

Wiesbaden – In July 2021, the index of producer prices for industrial products increased by 10.4% compared with July 2020. As reported by the Federal Statistical Office this was the highest increase compared to the corresponding month of the preceding year since January 1975 (+10.5%), when prices rose strongly during the first oil crisis. Compared with the preceding month June 2021 the overall index rose by 1.9% in July 2021.

Mainly responsible for the increase of producer prices compared to July 2020 were the prices of intermediate products and of energy.

                         Significant price increase on intermediate goods, especially regarding metals, secondary raw materials and wood

Prices of intermediate goods increased by 15.6% compared to July 2020. Compared to June 2021 these prices were up 2.3 %. Compared to July 2020 intermediate goods’ prices increased especially regarding sawn timber (+110.7%) and metallic secondary raw materials (+100.2%) as well as reinforcing steel in bars (+81.5%). Metal prices were up 32.2% compared to July 2020. Prices of metallic steel and ferro-alloys increased by 52.3%, prices of non-ferrous metals were up 23.2%. “The main reasons for the rise in steel and wood prices are likely to be increasing demand in Germany and abroad, problems in the supply of raw materials and sharp increases of import prices for iron ore (+97.4% from June 2020 to June 2021)”, states Gerda Gladis-Dörr, head of section Producer prices, Foreign trade prices and Wholesale prices. Also prices for basic chemicals showed a strong plus compared to July 2020 (+19.0%). Only few prices of intermediate goods fell compared to July 2020, two of them being electronic integrated circuits (-9.5%) and wood in chips and particles (-20.6%).

                         Strong increase in prices for all energy sources

Energy prices as a whole increased by 20.4% compared to July 2020 and by 4.1 compared to June 2021. According to Gerda Gladis-Dörr the price increase from July 2020 to July 2021 is mainly caused by a base effect resulting from the sharp drop in prices in spring 2020 in the course of the pandemic. National CO2-pricing that has been introduced in January 2021 on several energy products also had a great impact on the price increase of energy. For example prices of natural gas sold to industrial consumers with an annual consumption of 116 300 MWh increased by 45.0% disregarding CO2-pricing, including CO2-pricing they rose by 56.5%.

The overall index disregarding energy was 7.4% up on July 2020.

Prices of durable consumer goods increased by 2.2% compared to July 2020 (+0.6% compared to June 2021), capital goods, such as machines and vehicles, by 1.8% (+0.5% compared to June 2021).

                         Increasing prices for oils and fat led to growth in prices of non-durable consumer goods

Prices of non-durable consumer goods increased by 1.8% compared to July 2020 and remained unchanged compared to June 2021. From July 2020 to July 2021 food prices increased by 2.3%. Prices of crude vegetable oils were up 37.4%, butter prices rose by 18.5%. By contrast, pork prices still were down 2.2%.  Prices of ice cream fell by 3.5% compared to July 2020.

Pubblicato in: Banche Centrali, Unione Europea

Blocco Europeo. 2021Q2. Pil +2.0% su 2021Q1. In questo caso il rapporto 2021Q2 su 2020Q2 sarebbe fallace.

Giuseppe Sandro Mela.

2021-08-18.

2021-08-18__ Eurostat 001

Attenzione!

Correttamente Eurostat titola riportando i rapporti 2021Q2 / 2021Q1.

Infatti il 2020Q2 è stato il peggior semestre con un secco -15%. Di conseguenza, il rapporto 2021Q2 / 2020Q2 è risultato essere abnormemente elevato.

Eurostat non ha pubblicato il riscontro contro l’ultimo semestre prima della crisi economica.

2021-08-18__ Eurostat 002

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Eurostat ha rilasciato il Report GDP up by 2.0% and employment up by 0.5% in the euro area.

GDP up by 2.0% and employment up by 0.5% in the euro area In the EU, GDP up by 1.9% and employment up by 0.6%

                         GDP growth in the euro area and EU.

In the second quarter of 2021, seasonally adjusted GDP increased by 2.0% in the euro area and by 1.9% in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2021, GDP had declined by 0.3% in the euro area and 0.1% in the EU.

During the second quarter of 2021, GDP in the United States increased by 1.6% compared with the previous quarter (after +1.5% in the first quarter of 2021). Compared with the same quarter of the previous year, GDP increased by 12.2% (after +0.5% in the previous quarter).

                   Employment growth in the euro area and EU

The number of employed persons increased by 0.5% in the euro area and by 0.6% in the EU in the second quarter of 2021, compared with the previous quarter. In the first quarter of 2021, employment had decreased by 0.2% in both the euro area and the EU.

Compared with the same quarter of the previous year, employment increased by 1.8% in both the euro area and in the EU in the second quarter of 2021, after -1.8% and -1.6% respectively in the first quarter of 2021.

These data provide a picture of labour input consistent with the output and income measure of national accounts.

Pubblicato in: Devoluzione socialismo, Unione Europea

Germania. Mr Olaf Scholz, candidato cancelliere Spd, vuole riavvicinare Russia ed est Europa.

Giuseppe Sandro Mela.

2021-08-15.

Berlino Porta Brandemburgo

Sulla base dei più recenti sondaggi la Cdu sarebbe attestata attorno al 23%, mentre Spd e Grüne attorno al 20%.

Le elezioni di settembre verificheranno la precisione di queste previsioni, ma un quadro che si delinea sarebbe un governo tra Spd, Grüne e Left.

Mr Olaf Scholz, candidato cancelliere Spd, delinea un suo possibile programma governativo.

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«But a recent comeback in the polls would make it possible for Scholz’s SPD to form a government with the environmentalist Greens or the Left Party.»

«Like many of Germany’s other major parties, Scholz ruled out working with the far-right Alternative for Germany (AfD) — but said his ultimate goal would be to unseat Merkel’s conservatives.»

«”I want to lead the next government,” he said. “And it’s good that we have several options to build a government.”»

«German chancellor candidate Olaf Scholz calls for ‘a new policy’ toward eastern Europe and Russia»

«German Finance Minister Olaf Scholz said he would push for a new strategy toward dealing with Russia and other eastern European countries»

«We need a new policy toward the east that revitalizes the principle of the OSCE and CSCE, but as a principle of the European Union»

«He said there should be a return to the “mutual principles” for security and human rights in Europe agreed within the Organization for Security and Co-operation in Europe (OSCE and its former title as the CSCE) — the intergovernmental organization that enables dialogue between western and eastern countries in Europe.»

«If we want to ensure joint security in Europe, then it’s about the European Union and Russia»

«That’s why it’s imperative that we return to the rule of law. Might does not make right»

«Scholz’s comments also come amid heightened tensions between the EU and Belarus over human rights violations and amid ongoing dispute with EU-members Poland and Hungary over what Brussels has dubbed rule of law violations»

«With a growing number of people fleeing violence in Afghanistan, the question of asylum-seekers and migrants is once again in the spotlight in the run-up to Germany’s general election»

«Scholz said the focus should now shift to providing aid to the countries where they first arrive rather than committing to taking in a large number of people in Germany»

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Questa intervista tratteggia le grandi linee operative.

Primeggiano le affermazioni sulla necessità di ristabilire un dialogo costruttivo con la Russia, visione questa che potrebbe non essere gradita dall’altra sponda dell’Oceano Atlantico.

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Exclusive: German chancellor candidate Olaf Scholz calls for ‘a new policy’ toward eastern Europe and Russia

In a DW exclusive interview, the Social Democrats’ candidate to replace Angela Merkel urged for a new — and European — approach to Russia, and outlined his vision for Germany’s future.

German Finance Minister Olaf Scholz said he would push for a new strategy toward dealing with Russia and other eastern European countries if he were to become chancellor in Germany’s upcoming general election in September.

“We need a new policy toward the east that revitalizes the principle of the OSCE and CSCE, but as a principle of the European Union,” he told DW in an exclusive interview.

He said there should be a return to the “mutual principles” for security and human rights in Europe agreed within the Organization for Security and Co-operation in Europe (OSCE and its former title as the CSCE) — the intergovernmental organization that enables dialogue between western and eastern countries in Europe.

“I also say that Russia and other countries need to accept that European integration will continue,” he told DW. “If we want to ensure joint security in Europe, then it’s about the European Union and Russia.”

Scholz, the top candidate for the center-left Social Democrats (SPD), said that Russia’s annexation of Crimea “is a huge problem” that continues to fuel tensions in eastern Ukraine.

“That’s why it’s imperative that we return to the rule of law. Might does not make right,” he said.

He also did not rule out a meeting with Russian President Vladimir Putin, saying the German government “has always met with the Russian government” and that there were many talks held in recent years.

Scholz’s comments also come amid heightened tensions between the EU and Belarus over human rights violations and amid ongoing dispute with EU-members Poland and Hungary over what Brussels has dubbed rule of law violations.

On COVID vaccines: ‘We have a responsibility for the whole world’

As the coronavirus pandemic continues to rage, Scholz said that Germany has an obligation to ensure enough vaccines are produced for countries in need.

“In any case, we have a responsibility for the whole world and we must not focus on just ourselves,” Scholz said.

“We need to continue ensuring that vaccinations are exported around the globe — and we must expand production capacities in a way that the rest of world can receive enough doses,” he emphasized.

“There is no lack in willingness to spend money. We have already done that, and we need to continue to do so,” the finance minister added.

He was firm, however, that the responsibility does not lie solely with Germany in ensuring the doses reach those in need, but that recipient countries need to organize their vaccine rollouts.

“This needs to be organized by all those responsible on an international level as well as by those countries affected, to make sure the vaccinations reach the citizens of the global south,” he said.

As finance minister during the pandemic, Scholz oversaw the approval of a relief package worth €400 billion ($469 billion) — but brushed off criticism that the funds wouldn’t be enough to address the growing economic inequalities caused by the crisis.

On refugees: Other countries ‘do offer protection’

With a growing number of people fleeing violence in Afghanistan, the question of asylum-seekers and migrants is once again in the spotlight in the run-up to Germany’s general election.

When asked how he plans to deal with a potential new surge in migrant arrivals, Scholz said the focus should now shift to providing aid to the countries where they first arrive rather than committing to taking in a large number of people in Germany.

“In German and European politics, I don’t believe we are concerned enough about what happens to refugees when neighboring countries take them in,” he said.

“Many countries aren’t governed the same way we would expect in Germany. But they do offer protection,” Scholz added.

“That’s why there need to be prospects for integration in those countries in Africa, Asia and South America. And we need to share responsibility in that.”

While the German government has temporarily halted deportations to Afghanistan due to the security situation caused by Taliban advances, Scholz also said that he supported deportations of criminals, saying that those who commit crimes “should not expect to stay here.”

On the race for chancellor: ‘I want to lead the next government’ 

In recent weeks, the SPD have been polling between 15% and 18%, putting them behind Angela Merkel’s conservative CDU/CSU alliance, led by candidate Armin Laschet.

But a recent comeback in the polls would make it possible for Scholz’s SPD to form a government with the environmentalist Greens or the Left Party.

Like many of Germany’s other major parties, Scholz ruled out working with the far-right Alternative for Germany (AfD) — but said his ultimate goal would be to unseat Merkel’s conservatives.

“I want to lead the next government,” he said. “And it’s good that we have several options to build a government.”

Pubblicato in: Banche Centrali, Regno Unito

Regno Unito. 2021Q2. Pil -4.4% rispetto al 2019Q4. Investimenti aziendali +9.7%.

Giuseppe Sandro Mela.

2021-08-14.

2021-08-12__Regno Unito 001

                         In sintesi.

– The level of GDP is now 4.4% below where it was pre-coronavirus pandemic at Quarter 4 (Oct to Dec) 2019

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Diamo con piacere atto allo Office for National Statistics di aver riportato il pil sull’ultimo trimestre del 2019, ultima rilevazione prima del lockdown.

Il sistema economico inglese sta dando vivi segni di ripresa: in particolare gli investimenti delle aziende hanno ripreso a buon ritmo, +9.7%, così come la produzione manifatturiera, +13.9%.

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Lo Office for National Statistics ha Rilasciato il Report GDP first quarterly estimate, UK: April to June 2021

First quarterly estimate of gross domestic product (GDP). Contains current and constant price data on the value of goods and services to indicate the economic performance of the UK.

                         Main Points

– UK gross domestic product (GDP) is estimated to have increased by 4.8% in Quarter 2 (Apr to June) 2021 following the easing of coronavirus (COVID-19) restrictions.

– There have been increases in services, production and construction output over the quarter.

– In output terms, the largest contributors to this increase were from wholesale and retail trade, accommodation and food service activities, and education.

– The level of GDP is now 4.4% below where it was pre-coronavirus pandemic at Quarter 4 (Oct to Dec) 2019.

– In Quarter 2 2021, there were increases in nearly all main components of expenditure apart from “trade”, with the largest contribution from household consumption, which contributed 4.1 percentage points to the 4.8% increase following the easing of coronavirus restrictions in Quarter 2 2021 compared with Quarter 1 (Jan to Mar) 2021.

                         Headline GDP figures.

UK gross domestic product (GDP) is estimated to have increased by 4.8% in Quarter 2 (Apr to June) 2021, following the easing of coronavirus (COVID-19) restrictions (Figure 1). Monthly estimates published today (12 August 2021) show that GDP increased across all three months at 2.2% in April, 0.6% in May and 1.0% in June 2021.

The level of GDP in the UK is now 4.4% below where it was prior to the coronavirus pandemic at the end of 2019.

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Several countries have published first estimates of nominal and real GDP for the second quarter of 2021, including France, Germany, Spain and the United States. Italy and Canada have also published first estimates of real GDP for Quarter 2 2021, but not nominal GDP and therefore have not been included in Figure 2. The UK experienced the largest increase in real GDP of these countries in Quarter 2 2021, in part reflecting the timing of the tightening and easing of public health restrictions in the first half of this year.

Of the other countries, Italy and Spain had the next largest volume increases in Quarter 2 2021. However, these two countries are the furthest away from their pre-pandemic levels of GDP, with Spain 6.8% and Italy 3.8% below their Quarter 4 (Oct to Dec) 2019 levels. The United States is the only economy to have recovered to above pre-pandemic levels (0.8%).