I took this photo yesterday. It might look weird without context, so let me explain. This is the building of former German department store Karstadt/Galeria.
It used to sell all kinds of goods and here in the entrance area there were luxury watches, jewelery, etc. You even see the empty Swarovski shelf in the background. The other parts on the side are shut down by barrier walls.
As many companies in Germany in the last couple of years it had to shut down most of its stores after being insolvent.
The only thing left in the 6 floor building in the heart of the city is discounter Aldi in the lower floor.
So, the reality of today is, you have to walk through an empty, dead symbol of former German economic power to buy low budget groceries. That's what the image shows.
https://i.nostr.build/37wMooUx1YcAolbF.jpg
bUt GDP is hIgHeR nOw
Its the green economic miracle we were promised. 🫶
The green party has nothing to do with it.
In recent years this saying gain popularity over here: "Germans don't make small mistakes."
Its either no mistakes, or.. oh boy terrible terrible mistakes.
Yes, when you are saying it out loud you put emphasis on the word "small"
Germany's legacy is Aldi
😢
Sad part is that nearly every mid sized city has such a big complex often in the center of the city that is basically an empty shell for a supermarket in the basement.
I mean Karstadt always was the shop, that had plenty of workers running around but you would never get one that knows any of the products. I remember then not being friendly as well. And the insolvency was mostly because bad financial decisions by Schickedanz, which ie Sold buildings to a hedgefond that continuously raised the rents for the properties.
Yes but it worked for several decades without problems. Rents go up everywhere because of inflation. People buy less because of inflation (yes there's other factors like online sells, but there's enough people still going into shops, they just can't afford shit anymore). I don't want to judge their individual decisions but most cities are currently dying after decades of prosperity.
Yep. That's correct. Indeed the decision to sell property and rent it was because of financial reasons and those are I would assume 90% of cases linked to inflation. Inflation is the reason for so many problems, it's hard to comprehend.
You guys need to try immigrants. Or green policies. Or something.
Identical or even worse here in the US (East coast at least). Ours are filled with seasonal stores and Dollar Stores, so way worse than budget groceries is $1.00 groceries.
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