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Michael A. Arouet Profile picture
@MichaelAArouet
Jan 8, 2024 • 2 tweets • 1 min read • Read on X
German deindustrialization in one chart, it’s not only automotive industry that is contracting. What a mess.

Ht @DanielKral1 Image
Latest update, unfortunately things in Germany are not getting any better. This is what happens when left green amateurs without any relevant experience get elected into key government positions.

@DanielKral1 thank you for the update Image

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More from @MichaelAArouet

Michael A. Arouet Profile picture
Jul 22, 2022
This helps explaining why equities and earnings are doing ok in nominal terms despite historic lows in consumer sentiment and collapsing leading indicators 👇 There is a difference between nominal and real revenues and earnings. We see just nominal numbers. Chart @PatrickKrizan Image
I find current Weimar comparisons ridiculous and inappropriate, but nevertheless history teaches us that shares of companies having the power to pass higher costs to their customers during hyperinflation were reliable stores of value.
History also teaches us that when the peanut butter hits the fan, escape options are made illegal. #Gold #Bitcoin Image
Read 5 tweets
Michael A. Arouet Profile picture
Jun 17, 2022
There have been three main factors driving the real estate bubble in Germany, and everywhere else, in the last few years.

1. Continuously lower mortgage rates 👇 that’s obviously behind us. Rate of change is unprecedented, quickly destroying housing affordability.
2. Boomers were the last generation with more than two children. Children were moving out driving RE demand, but boomers did not scale down. This is behind us, the reverse effect is kicking in. Boomers start to pass away, children move back into the house, or sell it. Demand gone
3. Last two years the combination of 100% work from home and low interest rates was driving incremental demand for second houses etc. Well see point #1 for artificially low interest rates. Work from home peak is also behind us.
Read 5 tweets
Michael A. Arouet Profile picture
May 21, 2022
Fingers crossed for those who recently bought a house above asking price 👇 Chart @PkZweifel Image
2/3 US new home sales, no bueno 👇 ht @Lvieweconomics Image
3/3 and now combine it with record inventory of homes under construction 👇 Collapsing demand meets growing supply, but hey we have just paid for our house well above asking price to work from home. Chart @PPGMacro Image
Read 4 tweets
Michael A. Arouet Profile picture
Aug 25, 2021
What many don’t understand:

Capitalism = unequal distribution of wealth

Socialism = equal distribution of poverty
2/2
Best case in socialism = poverty and misery

All socialist countries so far = closed borders to avoid flight from the socialist paradise, people shot at the border, famine, terror, atrocities.
#3 Socialism killed more than 100 Million people in 20th century.

And socialism is still thriving in Academia.
Read 7 tweets

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