Sunday, August 9, 2020

Economic Discussion

There was a brief N-TV report yesterday (Sat).....polling done...which basically said that one out of every three Germans now worry about the economy because of the Covid-19 business.

Why?  This goes in various directions.

If you work in the travel industry (Bahn, Lufthansa, hotels, tour-bus operations).....then your gut feeling is pretty negative for 2020/2021.

If you work in the car industry (BMW, VW, etc)....you can feel very sure that 40k-plus Germans will be let go over the next six months.

If you were relying upon incoming tourism for your income?  Well....there's nothing great on the horizon for this year or next.

If you were talking about the sports industry....nothing seems that sure at present. Some fans will be allowed in the stadiums, but no beer to be sold. 

Oktoberfest in 2020?  Stamped official several months ago....won't happen.  In 2021?  I would speculate that it's at best a 50-50 situation.  There's hundreds of millions lost in the local economy. 

All of this affecting the political situation in 2021 (the election year)?  No doubt.

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