As this process has been indicated clearly in LaRouche's "Triple Curve" forecast since 1996, and updated in 2009, the physical economic activity that actually supports the survival of society it collapsing at an accelerating rate.
Here we note an example of this process in Germany, which is suffering from the collapse of the real economy on several fronts at the same time (automobiles, ship-building, machine-building). German steel output is down by 50% as compared to 2008, and the leading steel producer in Germany, Thyssen-Krupp, has announced additional job cuts in the range of 15,000 to 20,000, this morning. By a ratio of 3-4, this also hits the supply sector, endangering up to 80,000 jobs there, which means that no less than 100,000 jobs altogether are at stake.
As for the shipping sector, a report in today's Financial Times points out the fact that one-third of the world's container shipping, which the real economic collapse has driven into a catastrophic situation, is in the hands of Gerrman owners. These are organized in 120 shipping funds, all of which are basically bankrupt and are calling for government and EU support. The EU, however, is just about to sign a free market deal with South Korea which will open Europe to ships built (if any will even be built in this crisis) at much lower cost in Korea, so the EU Commission is not very likely to show interest in supporting these shipping funds in Hamburg and other German port cities.
If the reader is not familiar with LaRouche's Triple Curve, we suggest watching the recent LPACTV feature, Hyperinflation & LaRouche's Triple Curve.
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