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Clueless Advisors – Report of the Council of Economic Experts

There will be little or no economic growth in Germany. This is what the German Council of Economic Experts concludes in its 2014/2015 Annual Report. The report, titled “More Confidence in the Market Processes”, is optimistic, even though growth projections for Germany for 2014 have been revised down from 1.9%, which is already absurd, to 1.2%. For 2015, the so-called economic experts are hoping for 1.3%. By the end of 2015, this figure will be 0.5% to 0.8%.
These economic experts have been nominated by the German President by law since 1963 for a term of five years. They submit their report to Angela Merkel, who reportedly told the German Press Agency (DPA) that the government is not to blame for the economic slump.
Two things have become clear: The slump is not a slump but the worst economic and political disaster of all times resulting in the greatest public deception of all time.
The chancellor is therefore mistaken when she calls it a slump. A Government that allows our income, pensions and savings to be misused for the financing of the national banks of other bankrupt euro countries, or even offers them up for this purpose, while the German state treasury itself is broke and must be sustained by investors, taxpayers and retirees, must really be confused about the true state of our country. It must still like the idea of a united Europe, but is taking the wrong path to fund this idea. This includes the introduction of the euro, and the misconduct related to the concealed and illegal funding of euro debts. The Merkel administration has chosen the path to the “poorhouse” and accepted much too high a price for the idea of a united Europe, and the people are given no choice and no information. There are some pre-election giveaways for which there is no funding such as additional maternity/paternity leave and early retirement at 63 or the "misguided reforms in social policy," as they are called in the economic experts report, and this means that Germany's implicit debt, i.e. the pension fund deficits, will increase. These debts currently amount to €12 trillion. By contrast, the amount of explicit debt is currently €2-€3 billion.
Overall the report is questionable and, with the economy floundering, sounds as though it was handed down from another time. And Angela Merkel is annoyed because the economic experts managed to blame the poor economic situation on the minimum wage. Now Merkel wants to make sure that the leading expert, Christoph Schmidt, does not prepare any more analyses, because Merkel believes, as the DPA reported, that something that has not been introduced yet could not affect the economy. The chancellor may be right about this, but what she overlooks (we can only suppose) is that the German economic situation is no longer sustainable due to the insurmountable public debt and daily devaluation of the euro. It is not the heads of the economic experts that must roll to change this situation but the head of the chancellor, so she can finally be replaced by a chancellor who establishes a real democracy and is actually qualified for the post – such as ousted former Federal President Wulff, who alone acted in the people’s interest to prevent the ESM.
The so-called economic experts analyse the situation of the German economy and future trends. Commissioned by the federal government, they present their annual report every autumn, but also provide opinions on other issues in special reports. Moreover, they can seek advice from other experts. The current Council members are Christoph M. Schmidt (economist Ruhr University, Bochum), Peter Bofinger (economist, University of Würzburg), Isabel Schnabel (economist Johannes Gutenberg University Mainz), Lars P. Feld (University of Freiburg) and Volker Wieland (Goethe University, Frankfurt am Main).
To mark the Council’s 40th anniversary, a Special Report was issued in which various politicians and economists discuss the issue of economic consulting, and policy enforcement in particular (starting on pg. 15). Then German Chancellor Gerhard Schröder (p. 15-21) wrote: “In its 40-year history, the Council has not only been recognized by its own colleagues within its own group of experts but indeed in politics as well. Insofar as I can tell, and so far as I'm concerned, this also applies to the advice that we have not or not yet been able or wanted to put into practice.” Now that is real political shrewdness!
Moreover, the former chancellor stated: “The Council has in no way become what some sceptics feared it would when it was established. It has also not become what has also been suggested – a kind of auxiliary body of the federal government, to anticipate enforcement of what the government does – and instead is an adversary in an intense and necessary debate. The Council must remain independent of individual business and economic interest groups. I think that we can say that this has been achieved and defines the work of the Council.”
Regarding the council’s report, Schröder says: “The Council’s report shows that it must not get caught up in the day to day politics. They are embedded in a larger framework with long-term perspectives, and this - we can say with certainty - is based on current scientific knowledge. And this is also what distinguishes the Council’s reports, at least in my opinion, because they are beneficial, and the past problem of presenting different opinions in a Babylonian plethora of languages has been overcome.”
Two key points can be drawn from this: It is unrealistic to praise politics because those who want to be independent of politics cannot be independent if they are appointed by politicians. If there are advisors who contradict the interests of political parties, there are always loopholes that any political party can use to put their plans into effect, regardless of what any council says.
Despite all of the fuss around the release of the reports by the economic experts, with the threat of more ceremonies and speeches after the Council has been around a few more years, its predictions are dubious. This is evident in the actual results: From 1994 to 2003 (at the Council’s 40-year anniversary), the experts were off the mark 10 times, mind you; the results exceeded their predictions 4 times and fell short of them for 6 years. This is partly because some of the predictions depend on politically driven targets, resulting in predictions of growth that were just a dream for many years, and have now become a nightmare. There were also some unforeseen events such as changes to the tax laws, the effects of which are only felt in the years that follow.
Although the Council of Experts helps make the economic issues more understandable, they have no real independence due to the politics. Otherwise, the 2014/15 report would have predicted German bankruptcy or negative growth, since there is nothing else to be expected or predicted. The rest is political input.
On the 2017 Federal Elections
No Restraint
The IMF
Trump’s Election is a Warning for Germany’s Political Parties
Year-End Selection of Texts
CDU Party Congress 2016
IMF Crisis Management a Failure
Deployment of the Bundeswehr in Germany
Crucial Test with International Implications
Ever Closer?
On the 2016 German State Elections
Revealed: Colossal Public Fraud in Germany and Europe
Nettlesome Politics
The Press
As We Begin 2016
Legal Action
Clever Shifting Tactics
New Charges in an Ongoing Saga
Evil under the Sun – The G20
Political Paradox
Game over for Merkel
The Greeks are making history
Clash of the Titans
Elmau
FIFA Roulette
The Beast Roars
The Silver Lining
Pulling in Opposite Directions
The Deafening Silence
Texts on the liquidation of the euro
Wasting Time
New Rules, Same Impetus
Call in the Army
Politicians Run from Themselves
Tax Policy Loopholes
Europa without the Euro
Alternative to the Euro
Hellas
Easter 2015
Deflation
Tidying Up
Insolvency Statute
Heiner Geißler
Germany Corrupt No More
India’s GDP growth
PEGIDA
Rescue Fever
Unbridled Power
Heaven on Earth
Getting down to the Nitty Gritty
1-0 in Favour of the Opposition
The Junk Currency
Oil War 2014
Golden Goodbye
The Ukraine Aid Debacle
World Tax Authority
Demonstrations in front of the ECB
Promises and Trust
Democratic Deficits
Nothing is safe
Fit for a Museum
At Christmas 2014
Family Voting Rights
Clueless Advisors
Pension Debacle
The Balanced Budget Lie
The Wimpy Currency
Acid Test
Two Very Different Issues
Who is Ruling the World?
More Clandestine Employees
The Recession Principle
Is This Really Better?
Kohl and Merkel
Debt Brake Debate
Reforms
Merkel and the democracy
Tax Losses
Totalitarian Collectivism
Regrettable Incident
Wulff’s Attorney Brings New Legal Action
The ECB in the Crossfire
Former Constitutional Judge Sceptical
A Lovely Gathering of VIPs?
German Banks Need Money
Stumbling Match
Deutsche Bank under Pressure
The Crow …
Papier‘s Morality
Shot in the Arm for the Economy
Political Crime Novel
ECB Soon to be the Eurozone‘s only Bad Bank
Demonstration for Democracy
Award for responsible action
Recommendations in case of a crash
Final move
European rating agency
The last elections
Hartz-IV is enough
Mr. Putin, please cry!
No longer worth anything
Free trade agreement
1st September 2014
The election in Saxony
Special European Summit
Bankers are counting on it
Debt cut á la state
Immigrants criticised
Unbelievable assets
Bundesbank closes Money Museum
Lawsuit against bank union
Only the penitent …
Sustainability
ECB stability report
Cowardly warriors
The financial industry has learnt nothing
Bribery of MP’s
They are also blind on 2.
The Stability Pact
Avoid Obama
Thoughts on Merkel's birthday
Megalomania’s children
Niebel’s Low Points
On László Andor’s speech
Snowden should say nothing
Reduction of interest rates
OECD report
A great blunder
Germany as a driver of growth?
Farewell, housing allowance
Sick health service
The EU Commission knows about popular deception
Draghi gives a warning
Self-praise stinks
A forced affair of the heart
Drawn from left to right
Hollywood
The aftermath of an election
65 years of the Basic Law
Hypocrisy
Who will save the life-insured?
Minimum wage
Minimum Wage I
Minimum Wage II
Minimum wage III
Minimum wages IV
The minimum wage V
Arise for revolution
The European elections are an act of dictatorship
Switzerland and Europe
Protection of the Constitution and services
The impossible triangle
The standard pension
Schäuble tricks again
The old “Welt”
The Union wears the trousers
Zeroes – commas – nothing!
Book publication
Court Condemns Politicians
The highest German court
Parties for the European election
Freedom of the press
Dispensation from obligations
European Elections
European election
The resurrection of "doctor" Schavan
Per capita assets
Federal Constitutional Court – Accrued gain and provision
ESM - ECB - the flood of debt
The hysterical Republic
Review proceedings against Wulff
The own goal of the High Court
Judges helpless
Schavan and zu Guttenberg
Human rights
Counterfeit money and false fifties
Fight against tax fraud?
New fellow citizens
So many ministers
Democracy the Turkish way
But will every European pay?
Data protection
Tax havens
Free Trade Agreement
Data thieves at work
Expropriation of the citizen
Soon without cash
NSA Investigation Committee
Dutch rating agencies
Officials in the German Bundestag
Snub for banks
Repeated deception of the people
De-dictatorisation
GroKo = Große Kosten (great costs)
The sluts of the SPD
What the grand coalition will present to us
Federal Public Prosecutor versus the NSA
The new “tithe”
The people’s sense of justice
Trauma of coalition negotiations
When will it finally come, the Constitution for the united Germany?
Investors and savers
Finally, Mr. Ströbele
Church and State
Left party politics
Is the Constitution democratically legitimised?
Needs must when the devil drives
Wiki-Leaks +
The CDU and its donors
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High finance and party-politics
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The person and their office
With full intent
Elections
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It’s all about the quota
Deception over the Fiscal Pact
The failure of the government
Not really more money for the unemployed
Surpluses in health
Euro rescue by means of inflation
Asylum for the Chancellor
Discussion over democracy
Complaint against ...
The apparent vote ...
Courage, Mrs. Merkel!
Paid E-mailing
Only one month to go
Siegfried the Brave
Draghi wants more...
Fraud by forecast
Germany illegitimate
Election gifts
Left out
Youth unemployment
Public relations...
Leaders in politics
The rubble women
Every effort ...
Berlin Joint Welfare...
The casino of Cyprus
Ratings and bank union
A Conservative party...
Lies
Employees of public...
Bank union
lose links and ...
Democracy in Germany
Close-up
Our money is not safe
Out of order
More spirit of ...
TV duel
France in need
Finances in the ...
False average
The fight against corruption
Parliamentary absentees
Bravo, Mr. Weidmann!
At the end, Mrs. Lagarde?
On the subject of Cyprus
The wool has been ... I
The wool has been ... II
The problem of inertial ...
Schroeder’s homage
Gay marriage: only policy
Gauck
The budget in NRW was ...
Penalties for bankers
Bank bailout fund
The female quota
G-20
News about the Euro rescue
The war of the currencies
Stalemate in Italy
Merkel’s interests
NPD ban
Rating agencies
War-games again
S&P’s in the stocks
Political control
Mrs. Schavan, how...
Begging at a high level
Spain in the trend
Treaties between friends
Joint determination...
The most blatant lie...
Lower Saxony has...
Elections in Lower Saxony
Why have we called...
Something is rotten...
Secret agreements
Wulff has done...
MSK = DSK
Outcray against the ...
Politics is breaking ...
In the trap
The Target-2 system
Euro-political...
The Devil returns home
Members’ salaries
The last
Bankruptcy regulations...
The energy revolution
Bank rescue
Inactivity of the ...
So much eeriness at ...
Bad management is ...
Goodbye, Greece
General strike
Atlantis
Media in a fog
Euro Finance Week
The Berlin Bazaar
Careless love
The suffering basis...
Rescue packages ...
Election of the ...
ZDF
Steinbrück’s earnings
EU Summit in October
Aurea mediocritas
The veneering process
They have lied to us
All scapegoats together
Double accounting
Tour de force
Testament of poverty
Disservice
€ 8 more
In honour of Helmut Kohl
People have no respect
Nonsense and insanity
Pensions are not safe
Serial Merkel
Bad, bad, bad
People are not ...
Kohl’s merits
Deliberate false statements
Outwardly fine, inwardly...
DDBRD!
Gabriel goes underground?
Kohl’s Ghost
Hopeless bankruptcy delay
Open for business
Outcry against the ESM
2nd Outcry against the ESM
Fiscal Pact
Government bonds
ESM
Germany is bankrupt
Loss of democracy
Deception of investors
Merkel Referendum
The election in NRW
Ongoing election campaign
The aberrations of E. Pols
Speaking ban
Criminal complaints
Fear of publicity
Top experts
Real, direct democracy
Get rid of German President
Back-door politics
Competition for the office
Angela's wrinkles
Vultures gather
2011- System correction
Rating Agency Foundation
Contact men
Leading politicians
Transfer union
Membership fees
Referendum S21
Business–Banks–Politics
Misplaced doctors
State Trojan horses
Petitions ignored
The lever effect
Bonds by the ECB
Member states
No access
Political lobbyism
Conditions like in the East
Transparency
Sponsorship funds
Development aid
The transfer procedure
GER is doing itself away
Rescue packages
Supercrash in USA and EU
The 'Soli'-Lie
Vladimir Putin
A plea for direct democracy
Distrust of the Chancellor
More control
Flight of capital
Euro summit
It's war
The C in CDU and CSU
Deceit and lies
Germany getting screwed
Investments in countries
The illusion of a ...
General statements
Democracy-...-Dictatorship
GER-insurance society
Debt brake
Costs of members
Deceit and lies
Retirement provision
Medal of Freedom
Euro-thugs / Polit-thugs
We are the people
Security authorities
National debt and ...
Apology from the bankers
The Merkel Adventure
Party Competences
Chancellor
The East-Mark, ... ,Euro
Sister Merkel
Ruck-Rede & Oath of Office
The casino operation
Rescue Reactor
Euro rescue
Japan
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