Photo: AP Images
What crisis?German unemployment just fell another 22K vs. expectations of 10K.
The unemployment rate of 6.8% is apparently the lowest in 20 years!
So much for the peripheral countries taking down the German export powerhouse.
It would be the biggest Black Swan shocker of 2012 if it turns out that the European recession is short, contained and mild. Almost everyone has a deep slump as their “base case” now.