Schadenteilen

Schadenteilen. Not Schadenfreude.

Schadenteilen means sharing misery.

From this comes this:

In addition to economic headwinds, Germany’s vital industrial sector continues to struggle as it contends with the cost of two of former chancellor Merkel’s reckless bets, the first on the availability of “cheap” Russian gas, the second on “investing” heavily in renewable energy (made more reckless still by resuming the rundown of Germany’s nuclear power stations). The net effect of these wagers has been to increase German energy costs to a degree that has endangered the ability of its energy-intensive industrial sector to compete. Talk of deindustrialization is not an exaggeration.

Sound familiar?

There is no point in being concerned with a European (ie German) carbon border adjustment mechanism when you produce nothing, let alone produce nothing that is exportable.

Herr Angela is probably smiling because she too is on a nice and generous taxpayer funded and indexed defined benefit pension. Much like most of Australia’s political and bureaucratic class.