Monday, March 23, 2015

23/3/15: German Exports-led Recovery and Two BRICs

Because exports-led recovery is the only thing, besides hopium, that sustains the euro area (although there are some rumblings on the horizon of awakening consumers and even corporate investment), here are two charts worth considering:

First up, German exports to China:
Source: @FGoria

Self-explanatory. Next: German exports to Russia:

 Source: @FGoria


Why we need QE? Because even though it is too late to drink water once kidneys have failed, it is patently no more feasible to drink schnapps.

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