IFO economic sentiment at all time high

IFO's december report shows all time values in various sectors of the German economy, which undoubtedly was less impacted by the crisis since they didn't have a real estate bubble to begin with. Click on the images for zooming in.

We are back at the peak of 2007

While it's not very surprising that the construction sector is still positive given that they didn't get a downturn to begin with, the Retailing sector is going through the roof, to a new all time high.

Everything is going for the best. Let's forget that most of the Eurozone economies, which are the main trade partners of Germany had to get bailouts and are in the process of defaulting and that China, Canada, Australia are also about to fall.