Last week, another raft of German manufacturing sentiment data came out and the charts look ugly. Analysts are saying things like "grim," "misery," "horrific," and "this is a serious recession warning in the German economy." Because of its size and importance to world trade, if German manufacturing sneezes, everyone else can catch a cold. The single most worrying issue in the European economy right now is the ongoing collapse of German manufacturing. Last week, another raft of factory...


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