Topic: 199,983 companies went bankrupt in Europe because of the energy crisis in 2022 - page 3. (Read 550 times)
May 14, 2023, 04:31:20 AM
This Energy crisis will affect Bitcoin Network too as it will be hard to provide energy to mine and process the transactions. I am not sure if it's already affecting it despite having such a huge hash rate working 24/7 * 365 days. I am sure big mining companies are already working on alternative energy options like solar and wind. Let's see how this goes.
May 14, 2023, 04:26:55 AM
I'm grateful to stompix for clarifying the situation and providing the context. If it's just a 0.2% increase and actually fewer bankruptcies than in some of the previous years, all seems good to me. Of course, 2022 wasn't easy, but I really don't think that sponsoring a terrorist state to get more electricity (which is also not environmentally friendly) is a reasonable solution. I'm glad that the situation isn't as bad as it may have initially seemed, and I don't see why 2023 wouldn't be an improvement over 2022 either.
May 13, 2023, 10:33:25 PM
It contradicts your previous lies about the German bankrupcies:
In a recent interview in German TV the head of the Federation of German Industries BDI, Siegfried Russwurm pointed out the increasing number of insolvencies in the country. 30% have already declared bankruptcy while about 60% have claimed to go insolvent this season. Only about 11% of the German businesses has claimed to have no issues! Majority of them claimed that they are going to take their capital outside Germany.
While he is generally a quality poster, you made me remember that he said that half a million families had gone homeless in the UK, which I quickly dismantled, and I've been looking for the post to quote it but I don't know if he deleted it because I can't find it. It seems he only wants to see the speck in his neighbours eye.
This thread is also quite illustrative:
The Economist: 335000 people could "freeze to death" in Europe
How many will have died directly from not being able to heat themselves at the end? Not even 1%. Unless we consider "freezing to death" that people over 90 years of age with various risk factors have died after contracting influenza, COVID and other diseases.
May 13, 2023, 09:57:42 PM
I wonder how do those figures translate to euros or dollars. Those are shocking numbers but it's possible those are comprised of small to medium companies, ones which are easily shaken even by slight macroeconomic movements. With the pandemic and the global economy and the invasion all happening almost at one, these relatively small companies will easily cave in.
Anyway, a quick glance of the GDP figures at least in the EU, every single country, save for Estonia in 2022, is actually registering positive numbers. Although 2020 was apparently a very bad year for almost all of them, 2021 and 2022 were much better ones.[1]
I also wonder how accurate this study is.
[1] https://ec.europa.eu/eurostat/databrowser/view/tec00115/default/table?lang=en
Anyway, a quick glance of the GDP figures at least in the EU, every single country, save for Estonia in 2022, is actually registering positive numbers. Although 2020 was apparently a very bad year for almost all of them, 2021 and 2022 were much better ones.[1]
I also wonder how accurate this study is.
[1] https://ec.europa.eu/eurostat/databrowser/view/tec00115/default/table?lang=en
May 13, 2023, 06:03:39 PM
The effect of the war in Ukraine didn't only affect business in Europe and America negatively, it affected the entire world. In Africa, many businesses crumbled and there was a high rate of unemployment. Even the news outlet that OP references agreed that the major reason for this business bankruptcy is not only the energy crisis but the effect of the Covid-19 pandemic. Businesses were just gradually recovering from the pandemic before the war broke out. In my country, the price of oil and gas has stabilized and I also heard that Europe has discovered other sources of importing oil and gas.
May 13, 2023, 10:20:43 AM
You forgot to add that those 199,983 companies are
- 0.86 of the total number of companies in Europe
- the increase is from 0.63 the year before, so a huge number 0.2% increase, lol
It contradicts your previous lies about the German bankrupcies:
But as usual, the distorting of truth is your specialty!
Also, you deliberately forgot to add the conclusion of that article:
How about you stick to the troubles of the shitshow that is Iran now and the falling rial rather than bitching about Europe and the united states all day?
LE:
What a non-suprise, what this little propagandist has forgotten to add from the report is the graph of bankruptcies around Europe in normal times:
Easy to understand why :
https://www.creditreform.de/fileadmin/user_upload/central_files/News/News_Wirtschaftsforschung/2023/Insolvenzen_in_Europa/2023-05-11_AY_OE_Analyse_EU-2022.pdf
There were actually FEWER bankrupcies in Europe in 2022 than in 2019 and 2018!
- 0.86 of the total number of companies in Europe
- the increase is from 0.63 the year before, so a huge number 0.2% increase, lol
It contradicts your previous lies about the German bankrupcies:
In a recent interview in German TV the head of the Federation of German Industries BDI, Siegfried Russwurm pointed out the increasing number of insolvencies in the country. 30% have already declared bankruptcy while about 60% have claimed to go insolvent this season. Only about 11% of the German businesses has claimed to have no issues! Majority of them claimed that they are going to take their capital outside Germany.
But as usual, the distorting of truth is your specialty!
Also, you deliberately forgot to add the conclusion of that article:
Quote
"The balance sheet figures show a slight economic recovery of companies in Western Europe after the deterioration in the first year of Corona," explains Hantzsch. Significantly fewer companies would have a negative profit margin. 21.3 percent of the companies still recorded negative EBIT in 2021 (previous year: 26.7 percent). A fifth of the companies (19.6 percent) achieved a very high profit margin of more than 25 percent. Equity ratios have also recovered somewhat. The proportion of companies with a high equity ratio of more than 50 percent rose by one percentage point to 47.2 percent. By contrast, the proportion of companies with a very low equity ratio fell to 22.0 percen
How about you stick to the troubles of the shitshow that is Iran now and the falling rial rather than bitching about Europe and the united states all day?
LE:
What a non-suprise, what this little propagandist has forgotten to add from the report is the graph of bankruptcies around Europe in normal times:
Easy to understand why :
https://www.creditreform.de/fileadmin/user_upload/central_files/News/News_Wirtschaftsforschung/2023/Insolvenzen_in_Europa/2023-05-11_AY_OE_Analyse_EU-2022.pdf
There were actually FEWER bankrupcies in Europe in 2022 than in 2019 and 2018!
May 13, 2023, 09:22:15 AM
"Der Druck bleibt auf dem Kessel, so dass auch in den kommenden Monaten mit steigenden Zahlen zu rechnen sein wird“
"The end of the road has probably not yet been reached. The pressure remains on the boiler, so that increasing numbers can also be expected in the coming months"
"The end of the road has probably not yet been reached. The pressure remains on the boiler, so that increasing numbers can also be expected in the coming months"
Reference: https://www.creditreform.de/aktuelles-wissen/pressemeldungen-fachbeitraege/news-details/show/unternehmensinsolvenzen-in-europa-jahr-2022
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