The following report is by The Trends Journal:
In a letter to economy minister Richard Habek, the association said “exploding energy costs” are “existentially threatening” German’s retail sector and as many as 16,000 shops could disappear this year in a “negative trend” that would extend through 2023.
Electricity costs have risen to 3 percent of revenues for retailers and could reach 5 percent next year, the HDE said.
Such an increase would exceed profits for many businesses and drown them in red ink, according to the association.
Clothing retailers average a profit of 2.1 percent, food stores no more than 4 percent, and shoe stores already are operating in the red by -1.2 percent, the HDE reported.
Inflation and households’ plummeting purchasing power make it impossible for stores to pass the higher costs to consumers; therefore, the German government should reduce tariffs on imported fuels and slash taxes on electricity, the HDE urged.
TREND FORECAST: Lockdowns during the COVID War set up these businesses for failure; Russia’s cutoff of most of its natural gas exports to Europe and the West’s war-related sanctions delivered the death blow.
As COVID variants rise up again this fall and winter, most countries other than China will be less draconian in their response, simply because their economies are unable to withstand more mass shutdowns.
Instead, national governments will treat COVID as they do the flu: they will encourage people to be vaccinated and take precautions, but will not close schools and businesses.
AUHTOR COMMENTARY
A poor man that oppresseth the poor is like a sweeping rain which leaveth no food.
Proverbs 28:3
Germany, along with the rest of Europe and the rest of the Western world, is determined to eliminate the middle class at all costs. That’s what all these actions such as lockdowns, inflation, famine, energy shortages and costs, and so on; are solely for the purpose of implementing a new feudal system of extreme haves and extreme have-nots. Therefore, in order to meet the 2030 goals on schedule, these things and more to come must be implemented.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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