{"id":73894,"date":"2025-03-09T00:17:33","date_gmt":"2025-03-08T23:17:33","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=73894"},"modified":"2025-03-08T14:50:23","modified_gmt":"2025-03-08T13:50:23","slug":"nebudes-nic-vlastnit-debt-merz-zdrazuje-uvery-i-domacim-stavitelum","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2025\/03\/09\/nebudes-nic-vlastnit-debt-merz-zdrazuje-uvery-i-domacim-stavitelum\/","title":{"rendered":"&#8222;Nebude\u0161 nic vlastnit&#8220;? Debt-Merz zdra\u017euje \u00fav\u011bry i dom\u00e1c\u00edm stavitel\u016fm"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<p><strong>Nov\u00e9 miliardov\u00e9 dluhy pl\u00e1novan\u00e9 l\u00eddrem CDU Merzem a podporovan\u00e9 SPD neot\u0159\u00e1saj\u00ed pouze dluhopisov\u00fdmi trhy. D\u0159\u00edve nebo pozd\u011bji se v\u00fdsledn\u00e9 zv\u00fd\u0161en\u00ed \u00farokov\u00fdch sazeb dotkne i stavitel\u016f dom\u016f. Je to sou\u010d\u00e1st dystopick\u00e9ho pl\u00e1nu WEF, podle kter\u00e9ho by nikdo nem\u011bl nic vlastnit (a p\u0159itom b\u00fdt \u201e\u0161\u0165astn\u00fd\u201c)?<\/strong><\/p>\n<p>Ned\u00e1vn\u00e9 pl\u00e1ny CDU na nov\u00e9 miliardov\u00e9 \u201especi\u00e1ln\u00ed fondy\u201c \u2013 eufemismus pro dodate\u010dn\u00fd vl\u00e1dn\u00ed dluh \u2013 zp\u016fsobily\u00a0<a href=\"https:\/\/report24.news\/deutschlands-fiskalpolitischer-kurswechsel-erschuettert-bondmaerkte\/\">zna\u010dn\u00e9 turbulence<\/a> na finan\u010dn\u00edch trz\u00edch . Zat\u00edmco politici zd\u016fraz\u0148uj\u00ed pot\u0159ebu t\u011bchto obrann\u00fdch a infrastrukturn\u00edch opat\u0159en\u00ed, nepohodln\u00e1 pravda \u010dasto z\u016fst\u00e1v\u00e1 nevy\u0159\u010dena: skute\u010dn\u00e9 n\u00e1klady neponesou dne\u0161n\u00ed politici, ale budouc\u00ed generace.<\/p>\n<p>Reakce trh\u016f byla rychl\u00e1 a n\u00e1siln\u00e1. V\u00fdnosy z desetilet\u00fdch n\u011bmeck\u00fdch st\u00e1tn\u00edch dluhopis\u016f vyst\u0159elily b\u011bhem n\u011bkolika m\u00e1lo obchodn\u00edch dn\u016f o pozoruhodn\u00fdch 43 bazick\u00fdch bod\u016f a dos\u00e1hly 2,93 procenta ,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-06\/japan-s-10-year-bond-yield-reaches-highest-since-june-2009\">co\u017e je \u00farove\u0148<\/a>\u00a0nev\u00eddan\u00e1 l\u00e9ta. Tento dramatick\u00fd n\u00e1r\u016fst signalizuje klesaj\u00edc\u00ed d\u016fv\u011bru investor\u016f v kdysi neot\u0159esitelnou fisk\u00e1ln\u00ed discipl\u00ednu N\u011bmecka. N\u011bmecko bylo v\u017edy fisk\u00e1ln\u00ed kotvou Evropy. Zd\u00e1 se, \u017ee tato role se nyn\u00ed hrout\u00ed. To, \u010deho jsme zde sv\u011bdky, nen\u00ed nic men\u0161\u00edho ne\u017e zm\u011bna paradigmatu v n\u011bmeck\u00e9 finan\u010dn\u00ed politice, \u0159\u00edkaj\u00ed kritici.<\/p>\n<p>Dopady tohoto v\u00fdvoje nejsou pro b\u011b\u017en\u00e9ho ob\u010dana v \u017e\u00e1dn\u00e9m p\u0159\u00edpad\u011b abstraktn\u00ed. Vztah mezi v\u00fdnosy st\u00e1tn\u00edch dluhopis\u016f a spot\u0159ebitelsk\u00fdm \u00fav\u011brem je p\u0159\u00edm\u00fd a bezprost\u0159edn\u00ed. Financov\u00e1n\u00ed stavebnictv\u00ed, jeho\u017e \u00farokov\u00e9 sazby jsou \u00fazce spjaty s v\u00fdnosy dlouhodob\u00fdch st\u00e1tn\u00edch dluhopis\u016f, ji\u017e zdra\u017euje. U pr\u016fm\u011brn\u00e9ho \u00fav\u011bru na nemovitost nad 400 000 eur znamen\u00e1 sou\u010dasn\u00e9 zv\u00fd\u0161en\u00ed v\u00fdnosu dodate\u010dn\u00e9 n\u00e1klady kolem 120 eur m\u011bs\u00ed\u010dn\u011b \u2013 nebo p\u0159es 43 000 eur za celou dobu \u00fav\u011bru.<\/p>\n<p>Sen o vlastn\u00edm dom\u011b, kter\u00fd se stal pro mnoho N\u011bmc\u016f ji\u017e vzd\u00e1len\u00fdm snem \u2013 zejm\u00e9na d\u00edky enormn\u00edmu n\u00e1r\u016fstu cen v d\u016fsledku nesmysln\u00fdch opat\u0159en\u00ed na ochranu klimatu p\u0159i v\u00fdstavb\u011b \u2013 je dnes pro mnoh\u00e9 rodiny zcela nedosa\u017eiteln\u00fd. Obzvl\u00e1\u0161t\u011b ho\u0159k\u00e9 je, \u017ee tento v\u00fdvoj zasahuje generaci, kter\u00e1 se ji\u017e nyn\u00ed pot\u00fdk\u00e1 s exploduj\u00edc\u00edmi cenami nemovitost\u00ed a stagnac\u00ed re\u00e1ln\u00fdch mezd.<\/p>\n<p>Probl\u00e9m ale sah\u00e1 daleko za hranice trhu s nemovitostmi. Hroz\u00ed, \u017ee pl\u00e1novan\u00e9 p\u016fj\u010dov\u00e1n\u00ed znovu podn\u00edt\u00ed inflaci, kter\u00e1 teprve za\u010dala ustupovat. Pokud vl\u00e1da stimuluje popt\u00e1vku dal\u0161\u00edmi miliardami, ani\u017e by odpov\u00eddaj\u00edc\u00edm zp\u016fsobem rostla nab\u00eddka, je logick\u00fdm d\u016fsledkem zv\u00fd\u0161en\u00ed cen. Evropsk\u00e1 centr\u00e1ln\u00ed banka m\u016f\u017ee b\u00fdt nucena p\u0159ehodnotit sv\u016fj opatrn\u00fd postup sni\u017eov\u00e1n\u00ed \u00farokov\u00fdch sazeb \u2013 s dal\u0161\u00edmi negativn\u00edmi d\u016fsledky pro dlu\u017en\u00edky v\u0161eho druhu.<\/p>\n<p>Znepokojiv\u00fd je zejm\u00e9na rozsah pl\u00e1novan\u00e9ho nov\u00e9ho dluhu. Diskutovan\u00fd \u201especi\u00e1ln\u00ed fond\u201c pro infrastrukturu by mohl dos\u00e1hnout objemu a\u017e 100 miliard eur \u2013 nav\u00edc ke st\u00e1vaj\u00edc\u00edmu dluhu feder\u00e1ln\u00ed vl\u00e1dy ve v\u00fd\u0161i p\u0159es 2,5 bilionu eur. Ro\u010dn\u00ed \u00farokov\u00e9 n\u00e1klady pro feder\u00e1ln\u00ed rozpo\u010det, kter\u00e9 ji\u017e nyn\u00ed dosahuj\u00ed p\u0159ibli\u017en\u011b 40 miliard eur, hroz\u00ed v\u00fdbuchem, pokud \u00farokov\u00e9 sazby porostou a vytla\u010d\u00ed d\u016fle\u017eit\u00e9 budouc\u00ed investice.<\/p>\n<p>Historick\u00e1 zku\u0161enost ukazuje, \u017ee jakmile st\u00e1tn\u00ed dluh jednou vznikne, nen\u00ed prakticky nikdy splacen, ale v lep\u0161\u00edm p\u0159\u00edpad\u011b je znehodnocen inflac\u00ed nebo refinancov\u00e1n nov\u00fdm dluhem. Renomovan\u00fd ekonom Ludwig von Mises p\u0159ed des\u00edtkami let varoval: \u201eAlternativou nejsou zbran\u011b ani m\u00e1slo. Alternativou je: d\u011bla na n\u00e1klady da\u0148ov\u00fdch poplatn\u00edk\u016f nebo d\u011bla na \u00fakor budoucnosti n\u00e1roda.&#8220;<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"X Post\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=true&amp;embedId=twitter-widget-0&amp;features=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%3D%3D&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1882808098940649737&amp;lang=cs&amp;origin=https%3A%2F%2Freport24.news%2Fdu-wirst-nichts-besitzen-schulden-merz-verteuert-auch-die-kredite-fuer-haeuslebauer%2F&amp;sessionId=0343192714bc917be58b5b934b05acdac499a6d6&amp;theme=light&amp;widgetsVersion=2615f7e52b7e0%3A1702314776716&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1882808098940649737\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/figure>\n<p>Zat\u00edmco se politick\u00e1 debata soust\u0159ed\u00ed na domn\u011bl\u00fd p\u0159\u00ednos pl\u00e1novan\u00fdch investic, z\u00e1kladn\u00ed ot\u00e1zka z\u016fst\u00e1v\u00e1 nezodpov\u011bzena: jak\u00fdm pr\u00e1vem zat\u011b\u017eujeme budouc\u00ed generace dluhy, o kter\u00fdch nikdy nehlasovaly? Mor\u00e1ln\u00ed rozm\u011br tohoto mezigenera\u010dn\u00edho p\u0159erozd\u011blov\u00e1n\u00ed je d\u016fsledn\u011b ignorov\u00e1n. Ale pokud se Sv\u011btov\u00e9 ekonomick\u00e9 f\u00f3rum prosad\u00ed, my \u201ezbyte\u010dn\u00ed jedl\u00edci\u201c bychom u\u017e stejn\u011b nem\u011bli nic vlastnit.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-71983\" src=\"http:\/\/www.infokuryr.cz\/n\/wp-content\/uploads\/2025\/02\/aaa.jpg\" alt=\"\" width=\"89\" height=\"23\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nov\u00e9 miliardov\u00e9 dluhy pl\u00e1novan\u00e9 l\u00eddrem CDU Merzem a podporovan\u00e9 SPD neot\u0159\u00e1saj\u00ed pouze dluhopisov\u00fdmi trhy. D\u0159\u00edve&#8230;<\/p>\n","protected":false},"author":2,"featured_media":73895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[4099,8211,84,122,7308,8685,2954],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/73894"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=73894"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/73894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/73895"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=73894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=73894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=73894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}