Continuing with the theme of “Post-Industrial Europe”, our Hungarian correspondent László sends this report on the decline of business conditions in Germany as experienced by a Hungarian entrepreneur.
Canary in the German Coal Mine?
by László
A Hungarian entrepreneur who currently runs his business in Germany says, in a viral video of 2.7m views, that he cannot really make a profit over there any more, so he’s decided to move back to Hungary. Which is quite something.
The Great Reset Impoverishment seems to proceed rather well in Europe.
Translation of the article of the Hungarian media outlet Mandiner:
A Hungarian entrepreneur is upset, says the German economy is in crisis, prefers to come home to Hungary (VIDEO)
The entrepreneur says the German economy will not “fall into recession”; it is already in recession.
February 22, 2024
In a video posted on social media, a Hungarian entrepreneur who has been living and working in Germany for years has voiced his dissatisfaction. The general consensus is that the state of the construction industry is an accurate measure of economic crises. It is precisely this sector that the Hungarian entrepreneur has now sharply criticised, detailing the negative aspects.
The man who made the video runs a large-scale painting company. At the beginning of the video, he explains that recently they were about to sign a framework contract for the painting of 80 flats in connection with a major construction project. However, in the video, he says that at today’s forint-euro exchange rate, they received a bid of 812 forints per square metre for two coats of paint, which he says is unacceptably low for the industry.
According to the contractor, it is getting to the point where Hungarian [contract] prices 20 years ago were even lower than German prices today.
In his view, since the start of the war, sanctions and the influx of Ukrainian migrant workers have driven prices down to the point where it is almost impossible for businesses like his to survive.
At the end of the video, he advises [Hungarian] viewers that if you want to do business in Germany, don’t come now. He says that as an employee, yes [you can still make decent money] but as an entrepreneur, it’s not worth it at all. Personally, he has been considering, for a year and a half now, moving back to Hungary. His experiences since last October have only strengthened his resolve. He plans to continue his business in Hungary in the summer.
Watch the video of the Hungarian entrepreneur here.
For previous essays by László, see the László Archives.
If Germany fully opened their labour market to the Ukrainians then they should beware of the fact that Ukraine is a source of millions of very competent, highly motivated construction workers who will work for fractions of the average wages in western EU.
It is no wonder that a “wall painting business” would suffer in Germany under these conditions.
What is more interesting, IMHO, is the car industry in Germany, because if that goes than Germany goes with it.
Too bad NATO had to involve the entire western world in a war in which we have no business.
War has nothing to do with Germany’s decline, it is mass 3rd world invasion, green insanity policies and politicians of the leftist marxist WEF sort who are hell bent on destroying German and Germans.
Finally something good. I think economic starvation is not the problem, but the solution to the planned flooding with mass migration into europe. most of the migrants are conducted into the system to sustain the social meat grinder, but in this case, the centrifugal forces will drive most of them away. (of course there are also the refugees problem, the welfare, etc, but that is only the tip of the iceberg, most of the migration motives are economic)
The German Economy going down? What a surprise after spending $ 1 trillion over the past 10 years on windmills. Also the removal of cheap clean gas energy via Nordstream in Fall ’22. WTF did anyone expect?