Green Hysteria Is Destroying German Economy

Car making is Germany’s biggest earner (picture: Wikimedia commons)

This blog has reported many times that the mighty German economy is heading into trouble because it’s political elite, led by wannabe saint Angela Merkel is more concerned with climate change scaremongering and importing millions of illiterate, unemployable their world migrants in an orgy of virtue signalling.

The bigest single industrial sector in the German economy, automobile manufacturing, currently acts as the real engine driving the country’s economy, but as taxes rse to support a burgeoning welfare bill, and sales plummet due to the pomotion of expensive, inefficient and, it has to be said, incredibly dirty electric cars, it looks as if the situation may be in fora dramatic change for the worse according to new report from economists Matthias Weik and Marc Friedrich in a commentary at the online news portal of the (German Midsize Companies News – DMN).

This blog would not normally advise readers to take not of economists’ speculations but in this case their conclusions coincide with the opinions of a number of hard headed businessmen who see trouble ahead for the economic powerhouse that propos up the European Union.

Weik and Friedrich base their view of the economic direction of the German economy and how it is seriously threatened by the country’s obsession with climate considerations based on very dodgy science, and an irrational policy of opening the borders to all arrivals from third world nations, and how policymakers are neglecting key industries on evidence that Germany’s ruling elite are unduly influenced by certain left leaning academics whose thinking is heavily influenced by the so called Cultural Marxism of The Frankfurt Schoool of twentieth century econopmics.

Weik and Friedrich say German politicians have been naive and too easily influenced by noisy minorities and attention seeking scientists and  in their panic to save the planet from an alleged climate meltdown have, in the process of ruined the German economy.

“Everybody is talking about the climate, yet no one is talking about the economic climate,” Weik and Friedrich say. in common with many investment managers and industrialists, the two economists warn of a coming recession, one that will be “hard as nails” as the green activist and Social Justice Warrior onslaught on western, and particularly German industry intensifies.

According to the Weik and Friedrich, already “the seasonally adjusted and real order intake of German industry fell by 8.6 percent compared to the same month last year! For the tenth month in a row, it is going down!” So while the government and the Bundesbank juggle figures frantically, in fact Germany is already technically in recession. (The usual measure for growth / recession is GDP but when a government pumps €billions into the economy so it can hand out massive benefits to immigrants, which they spend in the economy, the resulting ‘growth’ is illusory.

“Companies such as Deutsche Bank, BASF, Bayer, Siemens, Thyssen, Ford have begun “massive job cuts or announced plans to do so in anticipation of the hard times ahead.”

The authors say that words, such as “unemployment” and “layoffs”, will soon be dominating the media and that “no one will talk about the shortage of skilled workers anymore, let alone climate change”.

The consequences of a major recession in manufacturing would send economic shock waves not through Germany but also throughout the European Union (EU) which massively relies on revenues generated by the German automotive industry, as has been well documented for years.

Weik and Friedrich write that Germany’s green and globalist policies have “negligently gambled away” prosperity and that the “coming climate change in the economy will nip all irrelevant sham debates in the bud.”

They add: “The heated discussions and hysteria are a sign of the famous late Roman decadence and a warning sign of the crash. For many who demonstrate today, there will be no jobs in Germany tomorrow.”

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German car industry faces ‘existential threat’ from political attack and electric vehicles

Germany’s car manufacturers face an existential crisis and risk going the way of Britain’s once-mighty car industry within ten years, Volkswagen has warned in the grimmest assessment to date.

Herbert Diess, the company’s chief executive, said Germany is not ready for the revolutionary effects of the electric vehicle and is under political assault from those challenging the whole concept of car ownership and mobility.

He told VW suppliers gathered in Wolfsburg – the sanctum sanctorum of German auto preeminence – that the sector is under a competitive threat of the first order and must embrace root-and-branch reform to survive. “Nothing is guaranteed for eternity,” he said.

“If you look at the former bastions of the auto industry such as Detroit, Oxford-Cowley, or Turin, you can see what happens to cities once their dominant companies and industries falter,” he said.

“As things stand today, the chances are perhaps 50:50 that the German car industry will remain at the pinnacle of the world in ten years,” he said.

READ MORE >>>

Tesla’s Single Point Of Failure

Interesting and well researched article comparing the success of Ford with the chaotic meltdown of Tesla.

Tesla crash and burn

Authored by Chris Whalen via TheInstitutionalRiskAnalyst.com,

Watching the meltdown of Tesla Motors (TSLA) founder and CEO Elon Musk last week unfold in the pages of The New York Times, we are reminded that enterprises need both vision and operating smarts to be successful. It was obvious years ago that Elon Musk needed help to build a new car company. Yet somehow the members of the board of directors of TSLA did nothing as Elon Musk led this extraordinary endeavor.

We noted in Ford Men: From Inspiration to Enterprise that Henry Ford had the vision thing, but his partner James Couzens turned the idea into a successful business. So bad was his reputation for tinkering and racing that Ford was not even an officer of Ford Motor Co (F) when it was founded, but he had an idea.

Thanks to Jim Couzens, in less than a decade that idea Henry Ford nurtured exploded into one of the great American fortunes, a transformational fortune built on manufacturing. The business was wildly successful and repaid its investors and more in the first year. And thanks to another Ford Man, engineer Charles Sorensen, Ford Motor Co invented the assembly line that enabled the company to meet the astronomical demand for cars a century ago.

Musk is no Henry Ford, but TSLA is the latest case in point to the lesson that solitary leaders often fail. No matter how brilliant or inspired, most of us need the moderation and help of business partners, directors and investors to make an enterprise succeed and endure.

READ ALL >>>

Readers may think my tracking of the Tesla meltdown is a case of a Musk hater wallowing in schadenfreude. Not so, I think Musk is a dick who has made the mistake of believing his own hype, but what has really appalled me is the Tesla fiasco shows the business community learned nothing from the the dotcom bubble’s bursting in 1999 / 2000. Once again in recent years thay have jumped on the bandwagons of Silicon Valley start ups, abandoning caution and common sense when it should have been clear the wheels would drop off the first time they encountered a bump in the road.

Elon Musk, Tesla, Sued For Fraud Over Tweets, Going Private Transaction

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It’s not just Tesla cars that burn easily, Elon Musk’s credibility has gone up in flames too. (Picture source: https://electrek.co/ )

 

On Thursday (9 August), on the back of a dramatic move by Bullshitter – in Chief Elon Musk, who out of the blue Tweeted that he was taking his electric car / solar panels / space exploration company private, Tesla stocks initially spiked thanks to Musk’s claim that “funding was secured” for the massive buyback needed to take the company off the stock market, then slumped when it emerged that there had been no prior discussion with investors or members of the Tesla board. It quickly became clear that Musk had no funds secured and has already maxed out his company’s credit. Then somewhat more sinister rumours emerged anbout Musk’s motives and gossip in financial markets suggested Musk and Tesla may soon be sued by both traders who had taken short and long positions on the company when the dust finally settles.

To be short on a stock, in very simple terms, means traders have made forward contracts to sell at an agreed proce stock they do not own, in the expectation the market price will fall and the stock needed to cover the contract can be bought more cheaply than the contract price. A long position is simply making a forward contract to buy a stock at a fixed price, anticipating that by the contract date the prive will have risen above that, and the stock can be resold for a quick profit.

In news that emerged yesterday first half of this prediction came true when we learned buth short and long sellers of Tesla stock had filed actions against Tesla and Elon Musk alleging the Tesla CEO and anointed Messia of Silicon Valley tech fanboys had fraudulently engineered a scheme to squeeze short-sellers – something Musk has previously indicated he intended to do – through his shock announcement to take the electric car company private.

The lawsuits were filed three days after Musk’s shocking tweet in which he proposed a record $72 billion transaction that valued the company at $420 per share, and that “funding” had been “secured.” One day later, Bloomberg reported that the SEC had inquired from investment banks about whether this funding was indeed “secured”. the alternative would indicate an attempt by the CEO to launch a short squeeze by materially misrepresenting wishful thinking as reality.

Subsequently on Friday, Bloomberg (again) reported that Tesla’s Board of Directors had only begun canvassing investors and banks about funding of an MBO-type transaction, implicitly confirming that Musk may have misrepresented facts, opening up the company to legal action.

In one of the lawsuits, plaintiff Kalman Isaacs said Musk’s tweets were false and misleading, and together with Tesla’s failure to correct or retract them amounted to an “attack” designed to “completely decimate” short-sellers. The lawsuit filed by Isaacs, and a second one filed by William Chamberlain said Musk’s and Tesla’s conduct artificially inflated Tesla’s stock price and violated federal securities laws.

In the confusion following Musk’s tweet a rumour circulated that Musk had secured an agreement with the government of Saudi Arabia to fund the delisting transaction, but the Saudi Royal House quickly denied any interest in such a deal.

 

Another Tesla Spontaneously Combusts, Killing Driver

When it rains, it pours, or in the case of Tesla, it spontaneously combusts.

Less than a week after a Tesla Model S erupted in flames following a “horrific” crash in Ft. Lauderdale, Flordia,, fatally trapping the two teenagers who died inside, in a similar accident to one that happened in Mountain View, California, last December, while a second Model S rammed a stopped Salt Lake City firetruck at 60mph, mercifully without any fatalities, the Swiss tio.ch reports that yet another Tesla has burst into flames after crashing on the A2 highway near Bellinzona, killing the 48-year-old German driver who, like the Florida ten nagers, was trapped inside because flames spread too quickly after the collision to permit escape or any rescue attempt.

telsa20swiss20fire
Tesla crash in Switzerland, note the total destruction of the car

According to the Swiss publication, the 48-year-old German driver, from Baden-Wurtermberg, lost control of the vehicle a few meters after the Monte Ceneri tunnel, crashing into the central guardrail, an accident that was remarkably similar to an October 2017 crash in Austria, in which a Model S also burned down, however without any fatalities.

The car then overturned and caught fire, fatally trapping the driver.

According to the Facebook page of the Bellinzona fire department, the flames were once again started by the lithium-ion batteries after the crash. The Fire department explains that “the violent impact of Lithium Ion Batteries could probably have caused a phenomenon called “thermal runaway”, i.e, a rapid and unstoppable increase in temperature (think in terms of a reactor core meltdown in a nuclear power station.).” It is becoming clear that the lithium ion batters used in electric cars are a highly unstable power source.

tesla20italy20fire

It’s unclear if the car had its autopilot engaged at the moment of the crash, although now that both the NTSB and NHTSA are looking into last week’s tragic Tesla crash which killed two teenage boys under similar circumstances, we are confident the answer will be available soon. Several Tesla accidents have involved the car going out of control while autopilot was driving. This spate of accidents, along with others in self driving cars from other manufacturers is probably a bigger setback for the autonomous car nerds than electric vehicles in general

As was reported yesterday, Max Schwall, the Tesla exec who until last week had been Tesla’s “primary technical contact” with both the NTSB & NHTSA, resigned quietly and moved to Tesla’s competitor Waymo. Commenting on this departure, we wondered if it suggests that the “company’s troubles with government regulators may be set to escalate.”

Judging by the trio of crashes in just one week, two of which fatal, it’s a safe bet the answer is “yes.” This leaves Elon Musk’s dreams of world domination, like his cars in the crash scene pictures, in total meltdown.

Electric Cars Too Expensive
Yesterday we highlighted the reasistic journey ranges achieved by the much acclaimed but basically useless Chevvy Volt. Today we read this story from one of the car industry’s giants. In August 2015, Ford’s chief financial officer has warned predictions of a surge in electric car sales are “very ambitious”, as next generation vehicles dominate the Geneva Motor Show.

Electric car with free fireworks display
We have been sceptical of claims that electric cars and hybrids will save the planet since the hype began. Lithium the only realistic material for batteries is not in plentiful supply. Processing and purifying lithium is a filthy and energy intensive process as is the recycling of clapped out batteries. A switch to electric cars simply moves pollution from the vehicle to the factory. Electric cars would be more polluting that hydrocarbon powered vehicles …

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe
While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and …

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can’t Drive Itself
A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

All The Reasons You’ll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.
The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limitedrange and safety are mong the reasons. And here as a Tesla goes up in smoke, is another …

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a major advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can’t Drive Itself
A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

It’s The Car Of The Future – And It Runs On Petrol
How long have those research grant phishing, statistics rigging, peer review fiddling sciencheads been telling us the car of the future would be powered by electricity? This was despite their best efforts after Squillions of Dollars, Pounds, Euros and Yen only having produced a hybrid that required both an electric motor and an internal combusion unit to .

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

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Tesla just months from total collapse, says hedge fund manager

Another Tesla demonstrates the makes built in barbecue feature neds some work (picture source: Zero Hedge
Another Tesla demonstrates the makes built in barbecue feature neds some work (picture source: Zero Hedge

The American electric-car company Tesla will be bankrupt within four months unless its CEO Elon Musk “pulls a rabbit out of his hat,” according to hedge fund manager John Thompson. “Companies eventually have to make a profit, and I don’t ever see that happening here, this is one of the worst income statements I’ve ever seen and between the story and the financials; the financials will win out in this case.” the head of Vilas Capital Management told Market Watch.”

Thompson manages $25 million and his Tesla short is the fund’s biggest position. He has been betting big against the electric automaker for years.

Last April, Tesla stock hit a record high of around $300 and continued to grow to $389.61. Nevertheless, Thompson’s fund still managed to churn out a 65-percent gain for the year. Since then, Tesla has fallen sharply and Thompson is confident his bet is about to pay off. Tesla shares were down more than 8 percent at Wednesday closing to $279.18. The hedge fund manager said that if his prediction comes true, his fund could surge by another 50 percent. He noted that he is investing $500,000 of his own money.

“Tesla, without any doubt, is on the verge of bankruptcy,” Thompson told clients in an email. He explained that funding will be hard to come by in the face of problems in delivering the Model 3, declining demand for the Model S and X, extreme over – valuation on the stock market, and a likely downgrade of its credit rating by Moody’s from B- to CCC.

Another fatal crash earlier this month that left a Tesla Model X smouldering on the shoulder of the southbound lane of Highway 101 in Mountain View has hammered Tesla shares to their lowest level in a year while pushing the yield on its debt above 7% (though an ill-timed downgrade from credit rating agencies also had something to do with that).

Once again, Tesla finds itself under scrutiny from the U.S. National Transportation Safety Board. The last brush with the regulator ended without incident – the agency ruled that a fatal Florida crash was the result of driver error, and that Tesla’s controversial autopilot software (which has been implicated in several fatal accidents) was not at fault, though this verdict should be treated with some scepticism as it is based on the fact that the car was on autopilot, which is not a technology sold as offering full vehicle autonomy. It seems odd therefore that a judge can say the driver was at fault when in fact the car should have a failsafe mechanism to prevent stupid drivers from abusing what is intended to be an electronic assistant.

As two teams from the NTSB sift through the evidence gathered from the site of the latest demonstration of Tesla’s self – immolating feature, the company said in a blog post published Tuesday night that it hasn’t been able to analyze any of the data collected from the scene – and therefore doesn’t yet know what caused the crash – because the car was so badly damaged, as Bloomberg reported.

The company hasn’t been able to retrieve the vehicle’s logs and is working with authorities to access them. Tesla hasn’t disclosed whether the driver had engaged Tesla’s partially autonomous driving system, known as Autopilot, when the crash occurred.

Interest in the effectiveness of self-driving technologies is at crisis thanks to a deadly Uber Technologies Inc. accident that happened days earlier involving an autonomous car and a woman who was crossing the street with her bicycle.

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe

While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and …

Drivers Cool About Electric Cars
Have you purchased your new, clean, green, politically correct, all electric car yet? No? I thought not. Neither have I. It is not so much that I hate the enviroment or that I do not want to support the fabulous clean, green, sustainable job creating indistries fabulous, clean, green Dave has promised us will lead …

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Tesla Driverless Cars World Domination Plan Hit By Another Crash
Electric carmaker Tesla, whose founder Elon Musk recently showed the kind of ignorance of human nature that typifies Silicon Valley billionaires when he smugly predicted the whole world would be letting driverless cars ferry them around by 2030, is preparing an updated “secret masterplan” as the company looks to rebound from concerns over the safety …

Google Self Driving Car Can’t Drive Itself
A lot of nerdy types have been getting very excited about the self – driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it’s the Google wankermobile that turns them on.

Self Drive Cars And Closing Time Chaos On The Roads
I’m always gobsmacked by the unthinking stupidity of those we allow to rule us. While the developed nations struugle with unemployment, due to automation of processes that provide jobs amongst other things, our poticians and the “experts” who advise them are creaming thrir pants over another technological development that will destroy thousands of jobs. Their …

All The Reasons You’ll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.
The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limited range and safety are mong the reasons. And here as a Tesla goes up in smoke, is another …

Car-Barbie: Tesla Supercar Bursts Into Flames While Charging
from Zero Hedge (creative commons) The Norwegian owner of a Tesla Model S found an unexpected f(i)ringe benefit during a cold Friday afternoon when shortly after he had parked his luxury electric car at a supercharging station in Gjerstad, and left, he realized the car could serve as a very quick and efficient, if quite …

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company’s aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

Google’s Wankermobile Self Driving Car Can’t Drive Itself
People are starting to trust Boggart Blog and our friend Little Nicky Machiavelli. That’s because we are always right. And we always try to sound a weeny bit humble when we say I told you so. Recently the usual types got a bit huffy when we mercilessly mocked the much hyped Google self driving car, …

Electric Cars? Cheap At Half The Price
A new electric car, the Tesla, that appears to offer the breakthrough technology to provide clean, practical personal transport we have been waiting for since collectively falling off our chairs laughing at the Sinclair C5, was at last unveiled this week. The Tesla, a two seater coupe, offers performance comparable with similar conventionally powered cars, …

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Are Manchester’s Gaybour Council A Bunch Of Dicks?

Street art in Manchester by Wanksy (image source Manchester Evening News – now censored)

Greater Manchester Council has since its inception been controled by the Gaybour party. Consequently in allocating funds to public spending projects in the conurbation, anything to do with ‘The Gay Village’ or the city’s ‘Gay Pride Day’ celebrations has been given far more than it deserves, projects relating to ethnic minorities have been well funded (gotta keep buying those votes) and anything that would benefit non – minority citizens is relegated to the ‘can’t be arsed’ list.

This has resulted in some problems, for example The Manchester Evening News recently ran a story about the mumber of people who complain about the state of the city’s roads. “The roads of Manchester are in an appalling state, especially around Bury. I have cyclist friends who have been hospitalised’ one resident comented on the website, “They damage vehicles. Sometimes it’s hard to know which pothole caused the damage because there are so many.

Now the case has been taken up by a street artist who as a tribute to his hero Banksy calls himself ‘Wanksy’. The graffiti merchant whose real name is not known has been dicking about for several weeks in the Ramsbottom area, spraying giant nusgers around the worst potholes. He told the M.E.N:“They damage vehicles. Sometimes it’s hard to know which pothole caused the damage because there are so many.When I’ve finished in Ramsbottom, I’ll move on to the rest of Manchester.”

He added: “I wanted to attract attention to the pothole problem and make it memorable. Nothing seemed to do this better than a giant comedy phallus. It’s also speedy, I don’t want to be in the road for a long time. It seems to have become my signature. I just want to make people smile and draw attention to the problem.

Speaking to Radio Manchester he said, “He added: “I wan to attract attention to the pothole problem. Nothing seemed to do this better than a giant comedy phallus. It’s also speedy, I don’t want to be in the road for a long time. It seems to have become my signature. I just want to make people smile and draw attention to the problem. It seems to be working, judging from the Facebook fan page.”

Some people may have been offended, but not as much as motorists who have had to fork out for a new tyre or face a bill of several hundred pounds for repairs to their car suspension.

And of course if it make Manchester’s Gaybour council look like knobs and aleterts a wider audience to the reality that the elitist Labour party doesn’t give a flying fuck about the concerns of ordinary voters, the protest has the full support of Boggart Blog. So here we go with a small exhibition of Wanksy’s best works. (See more at the Facebook fan page gallery – click ‘Back to album’ top left for slideshow)