Europe did not get into the information age. Is there European equivalent of Google, Facebook, Microsoft, Amazon? What industries are the 50 biggest companies in? Europe is also not in the new industries that are coming. Are they in artificial intelligence? 5G communications? Cloud computing? If you are stuck with industries of the past, all the "economic statistics" just tell the result of their problems, not the root cause.
Europe didn't have the time, since the post-war period it found itself in unstable politics, it had economic booms but nothing compared to the USA which had become a colossus, most people had a good idea or wanted to do a start-up went to the USA there were more funds, not to mention the greatest scientists who emigrated to the USA after the war, when the communication era began, a large part of Europe was facing an enormous financial crisis, the largest companies were starting to relocate and Germany was the only one that could compete, in fact some of the most important companies in the world, the European ones mostly belong to Germany, furthermore creating software similar to Facebook Instagram Amazon eBay etc was quite useless, both because Europe it is quite small both because our main economic partners were and are the USA
Europe has too much red tape when creating businesses. We lived in Switzerland and my husband (German) and his Swiss friends-coworkers could not start a aerospace business due to the hassle. Other friends said selling a house in Switzerland was a huge nuisance. We just returned to the US to get back in aerospace.
🤔🤣🤣man the title of the video tells it all of how they have to try and keep usa at the top of everything.Please the usa and Europe is in the same boat declining the usa isn’t doing no better then Europe and Europe isn’t doing any better than the usa.This video is ridiculous it’s like trying to say the usa is ahead of Canada 🤔🤣there both fucked up both of them.
That's true. I worked with an Investment Fund. We wanted to invest in certain sectors and start-ups in Germany. But the German officials took so much time that by the time they approved everything, we had already changed our mind and left the country months back. They make you feel that they are doing a favor for you. They were not rude to you but they were least concerned about our time and schedule.
@@asmirann3636 Yeah. German KfW bureaucrats refused to give written info to investors and delayed the process so much that it didn't happen. Fuckers. (But it read irrelevant info and nobody should have cared anyway)
@@jamalgreen3056 Talk of the decline and death of America are grossly overblown. Most people are doing fine, and America is positioned in an extremely advantageous part of the world with a weak neighbor down south (border crisis can be solved quickly if political will is there), and a friendly and equally weak neighbor in the north.
Finally someone talking about the Eurozone. In the UK our popular press would have us believe the UK is the only country on the continent of Europe to be struggling. Don't wish this on our eu neighbours but in some ways its comforting to know we're not alone in our floundering!!
Yes, the British are doing worse, take Germany for comparison: Germans earn on average 8,000 euros more than Brits, have better health care (no waiting times, more doctors), more vacation, lower energy prices (better/more modern houses, good insulation, comfort), a lower one Unemployment rate, 52% of energy comes from renewable energies, and there are billions of investments from e.g. Tesla, Intel, TSMC.- There are no tuition fees for schools and universities. The national debt is at 69%, so here too the Germans are doing better than the British with 101% national debt.
@@nettcologne9186Italy, Greece, Spain, Germany, Poland, the baltics all have severe demographic problems. The UK isn’t as bad as those countries in this regard. The EU as a whole is getting old and dying off.
@@stephenconrathe7197 The mistake is that the UK compares itself to the EU. The EU's economic power is 16 billion euros (GDP), the UK's economic power is 3 billion euros (GDP). The UK can compare itself with countries with similar population sizes and economic power, for example France, but not with the US, EU or China.
@@welshedyes you are right, you take hundred of thousands of Africans and asians every year.... of course you dont have natality problems. Last time I visited England I was in London and Birmingham and it looks like an arabian countrie, I didnt see english people
The European Union was formed in November 1993 with the Maastricht Treaty. The strength of the EU was it’s protectionist anti globalisation trade barriers that made it more economic to buy from within the group. The aim of the EU was to protect member nation jobs, farming and industry, by adding tariffs to imported products. But within six months the World Trade Organisation was established by 123 nations at a meeting in Marrakesh. This agreement was exactly the opposite to the protectionist anti globalisation trade barriers created by the EU. At its core was trade liberalisation, include binding the negotiated tariff reductions for an extended period. This WTO agreement has created a nightmare for the EU. In theory as member nations they should abide by WTO guidelines. They ignored this for around a decade, and concentrated upon side issues like free movement within the block. They also began a back door campaign to thwart the WTO by implementing EU standards that could be used as non tariff barriers to trade. But by the early 2000s they were under increasing pressure to open up markets. In response to this they began negotiating Free Trade Agreements, that contained strict protectionist limitations and were FTA in name only. The agreement with Japan was actually called a Economic Partnership Agreement or EPA. It specifically limited Japanese car imports, making it a mockery, and was not an FTA. In recent times even the FTA negotiations have collapsed. The Australia FTA fell apart, and the Mercosur FTA is falling apart when the EU wanted severe limitations on agricultural products. Hence the recent French, German, Belgian and Dutch farmer protests. The EU is now an anachronism in a free trade world. It is desperately trying to find a justification for its existence, when in fact it’s relevance ended with the signing of the WTO.
I wouldn't see it as so dramatic, Germans still earn on average 8,000 euros more than Brits, have better health care (no waiting times, more doctors), more vacation, lower energy prices (better/more modern houses, good insulation, comfort), a lower one Unemployment rate, 52% of energy comes from renewable energies, and there are billions of investments from e.g. Tesla, Intel, TSMC. There are no tuition fees for schools and universities. The national debt is at 69%, so here too the Germans are doing better than the British with 101% national debt
As a citizen of EU, I believe we simply aren't united enough, plus we are importing too much of our energy. Nuclear energy could have saved us, but Germany had eco-zelots fighting against it. Hope that what now is happening with Ukraine will force us to united into something stronger.
agree, i think EU has too many countries and too many laws in order to be united. A country that doesn't matter can veto anything in order to move EU forward. Also they work less hours than US and Chinese on average. Not saying it's wrong to work less, but you have to sacrifice something in order to have more free time.
Idk why so many people talk without having a single idea about what they talk.. There are more laws in the UK than in the EU, just to make an idea.. Also, there's a bigger productivity in the working environment in the EU than the USA or China, what's sacrificed?@@eile4219
Tbf every country will experience economic deterioration, it’s just a matter of where the country is on that curve. I reckon it’s to do with exponential population growth, and what happens in the post developed country.
Thanks for speaking honestly about the Economy crisis situation. Looking the the track estate, the industry has driven home prices too high for most families. The solution is for prices to align with family budgets, even if it means a market correction. The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on the govt.
What if you don't know how to trade any of these? I mean, see your point some people have the money and are willing to invest, the question is where to.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
There is an implicit misunderstanding in this video about austerity and growth. Government spending cannot be the driver of growth, as governments for the most part simply transfer money from one group to another. Nothing grows if you just take money from George to give to Ringo. Growth happens when businesses invest to grow their business. More government simply inhibits this.
Saying that the solution would be to increase government spending is ridiculous. The real solution is to reduce taxes, make the government more efficient and lean. That would incentivize productivity both for business and for individuals. That is the secret sauce of the US. It is comic that economics wants Europe to spend like the US (large debt) but don't want Europe to tax like the US neither produce like the US.
It's really sad to see the EU falling behind so terribly; the US Inflation reduction act and the EU's failure to mount a proper reaction (in practical terms, not just rhetoric) is disastrous
Not exacly true. The IRA is just throwing money at the problem, while refusing to involve current leaders of industry. It comes at the expense of a MASSIVE deficit wich the US can afford because its the worlds reserve currency. Meanwhile the NZIA, will include carbon taxes (including on borders) AND will include industry leaders. This will help much more creating better ecossystems as well as atract skilled labour. The carbon taxes also mean you pay more for producing outside of the EU and transporting there, and help finance it, while also helping to increase demand for lower carbon steel, batteries etc, wich in tern reduces the need for high subsidies to stimulate demand. Furthermore, the IRA is helping european companies a lot more then the NZIA industry act helps chinese or american companies
You mean the US Inflation Rapid-increase Act? Because Bidenomics is working so well that 2/3 of the people give it failing grades. Who would have thought that increasing the money supply by printing TRILLIONS of dollars could cause inflation? Study Milton Friedman, NOT Paul Krugman.
@@lostintashkent Yeah. The US living standard is significantly higher than that of Europe. Material consumption, living accommodations, comfort, and ease of life are totally different. European life is quite meager by American Standards.
yet their allies are happily helping them to do that. when it collapses the US will take everyone down with them. I can't comprehend why europeans are happily subservient to their american masters
It is. I didn’t expect decade and more after 2008, finally FED increased interest rate with QT within just a year. It’d still take years of QT to get to some “normal”.
@@rheung3 indeed and apparently 25% of USA companies are zombie companies that have only survived because credit has been pretty much free for the last 15 years. But now that interest rates are going up, it’ll be interesting to see how many US firms goes under.
Part of the challenge here is that there is a very big difference between the different nations of the EU. From, Rumania,Greece and Italy to Germany France to the nations in the nordics. The needs of these variety of nations is varied and hence difficult to manage.
One huge problem in Europe is the massive declining population. The EU establishment was aware of this massive problem in the 1990s. Turkish immigration helped a lot. Most Turkish muslims were not radical & assimilated quite well into the EU, particularly the German workforce. & contributed much labor to the overall economy. Since early 2000's EU, particularly Germany, brought in millions of immigrants. However, 90% were/are young men. So many refused to assimilate. Many were tramitized by war and poverty and become a burden on the very liberal social welfare resources. I understand that this is very unpopular to say & there are many immigrants that assimilate very well. Yet, this marked the beginning of the end. If not for America, Western Europe would not exist today & would have been destroyed by World War 2.
" If not for America, Western Europe would not exist today & would have been destroyed by World War 2." You just wanted to tell us you don't know history?
@brb4903 After World War 2, western Europe was completely devastated. The bombing devastation literally destroyed more than 80% of Europe's cities & infrastructure. London had to be totally rebuilt after the massive blitzkrieg. There were complete German cities that were 100% destroyed & ravaged by both Soviet & western bombings. Berlin was totally unrecognizable. All of Europe's economy had completely & totally collapsed. The USA developed the Marshall Plan. They gave billions to Europe, especially Germany, to restart it's economy, rebuild it's cities, agriculture, infrastructure, & it's totally devastated manufacturing base. Not to mention, the German survivors were left totally demoralized. They had no industry, no food, no shelter, and were left with scraps of food because millions of Soviet troops had terrible vengeance towards the Germans & were frenzied with hate for Hitler & all of the German people. The Soviet Union lost between 20 to 80 million soldiers & civilians, fighting the invading nazis. Their anger and bloodlust were very hard to quench. Even after the war, Soviets were extremely brutal to Germans, including women & children. Millions of German women were raped & murdered. Unfortunately, millions of German women were raped & killed, leaving millions of German orphans with absolutely no means of support. They had to scavenge across war-torn Europe for scraps of food. The eastern front of Europe was severely bleak. The West really never knew the actual scale of destruction of the Soviet controlled east. Everyone certainly knew it was bleak & destructive. Even after The Soviet Union collapsed in the late 1980s and 1990s, there was still an extremely stark difference between post-war recovered west versus The Soviet controlled east. The West had recovered their technological advancements, their massive manufacturing booming industry, & had a much better quality of life compared to the depressing economically devastated eastern Europe. The Soviets finished the massive Berlin wall, & extensive iron curtain in 1950s & 1960's, to encompass all of the eastern blocks. This ensured Eastern Europeans were to be keept poor, indoctrinated, economically depressed, & under dictatorship. Eastern Europeans were trapped into the devastation of Soviet depots' ideology. The USA economy emerged in a much better economic position after World War 2, whilst all other advanced countries litterly faced national bankruptcy USA economyflourished. The war didn't touch mainland USA. The USA is still receiving repayments from our allies for our "Lendlease programs.""" Our isolation with 2 major ocean buffers, had left America with the ability to continually pump out food, weapons, & other resources our allies needed. If not for the USA, Hitler would have starved the people of the UK in order to obtain their unconstitutional surrender. We flew supplies through Alaska via Siberia to assist Stalin in the massive onslaught of Hitler's "Operation Barbarossa." With all due respect, I actually do know history. I'm a high school history teacher.
Yeah I agree. But saying that without America Western Europe wouldn't exist is a big fallacy since the opposite is true as well, without Europe USA wouldn't exist.@@nancypatterson2215
@@nancypatterson2215 You may know history, but you clearly don't accurately predict the future of conditional hypothetical situations that haven't happened. The "Everything would go to the pits forever and forever" is a well-known "The Sky is falling and won't get back up" fallacy. I personally think that if America didn't get involved, it would've been napoleon 2.0 and mr.mustache would've met his Waterloo.
No point, its been bankrupt for years! My extended Portuguese family want out of the EU, but won't have the luxury as we did in the UK. My 2 kids hold a both passports, but the Portuguese one is bloody worthless!!
Attract US tech digital nomads and millionaires with this one SIMPLE tax cut that locals who have to find housing HATE!! Would be Portugals recent economic policies dummarised
@@baratoplata7050 Don't worry, the property market will crash in Portugal / world. Hopefully the Português people will be able to afford property again, in the future 🤞
Actually its quite an interesting economy, its probably the most corrupt country in the EU, with corruption being speculated at 20% GDP a year, yet they market the country as this nomad haven, even though tax rates are around 23%-43%. They have a housing bubble but sell all the land to foreign investment funds, and the prime minister has been arrested. Whats not interesting about this?@@pollutingpenguin2146
Well done for a more balanced world and european overview. Europe in applying more social policies, regulations and move away from nuclear and fossil fuel production has resulted in a declining continent being left behind by americas and asia. Unfortunately a desire for more social time, less work effort and production and not being energy self sufficient the deeper into recession and debt u fall in challenging times.
African coutries too. Nigeria will pass all of Europe and by the end of 2100 europe will be overrun with Africans/arabs. Many African and Asian countries are experiencing massive economic growth that the west dosnt talk about. USA and Europe has aging infrastructure Asia and Africa has new infrastructure everyday
I very much agree with the point made here that austerity is a function of the misguided capital allocation governments have historically made, where GDP growth does not keep up with or exceeds debt growth. There is a widespread tendency for the next election to be won by spending beyond one's means. It could be considered to have a constitutional provision that a sitting government that generates a deficit or debt level of a certain size is automatically removed from power and abandoned from holding public office in the future. It would create accountability.
This video refers specifically to the euro since it attempts to examine the reasons for economic under-performance in the EU. For purposes of comparison, the fall in the value of the euro against the USD since 2010 has been approximately 22.7%, whereas that of sterling has seen a lesser drop at approximately 19.8%.
Very good summary about post-war prosperity factors eg baby-boomers, transformative technologies eg computers, collective confidence that we now don’t have. It reminds me one science article said that the best economic year so far is 1978.
Yes, the E.U. is likely to suffer a Recession. The European Union has to do some Quantitative Easing, perhaps 1.15 Trillion Euros, over 3 years. By comparison, the smaller economies can try experimental Q.E., the figures will have to be worked out.
I mean my state in India(Tamil Nadu) has government funded healthcare for the poor that performs even complex cancer operations. People don't go into much debt for college, etc. But I'm not going to say living standards there are better than the US. Europeans keep presenting this argument of lower work hours and socialized healthcare like they are a great substitute for economic success. A small difference in the GDP would make sense for this claim but this is an 80% difference😅
The EU and Europe are not going to catch up with USA whatever the economic policies. USA has so much more space and land, is self sufficient on energy, has a huge home market with integrated transport and largely a single language. It has a younger population and navigable waterways plus the most high quality farmland in the world. Also with the US$ as the world's reserve and main transactional currency, it can borrow endlessly at the lowest interest rates. The massive military and worldwide bases are paid for on this borrowed money. Europe does not need U.S. style deregulation and unsafe food and environmental practices. That is a red herring and against people's interests.
Germany can borrow at lower rates than the US, because it’s in far better fiscal shape and trusted to spend money more responsibly. But that’s the fatal problem for Europe: Its strongest economy refuses to borrow to invest or stimulate, out of deeply ingrained, economic illiterate superstitions about debt that will ultimately cost them more in bailouts and crisis responses than the cheap money they refuse to spend now.
The U.S. has similar problems but we're also fighting obesity, dysfunctional family dynamics, and high divorce/low birth and marriage rates. The U.S. is so isolated. I believe the mirage that the U.S. is the most powerful country on Earth is due to its energy independence, but strip this away and the entire country is grey and brown covered with brick and mortar. Not only do people in the U.S. struggle financially, but there isn't much of a culture to soothe or enlighten spirits so there are a lot more people here who struggle psychologically on top of external issues.
Looking at Europe now along with Communist China and I saw fact of this world. Europe may not be moving fast compared to CCP but Europe may not fall any hard neither. CCP on the contrary had moved so fast forward but into the dark unknown future. We all the whole world need to look again at current situation and make big remedy as necessary required by each nations together. The world simply cannot go on the way the past 20 years.
Immigration plays a big role in the U.S. Europe wants immigrants, but only ones who will forget their culture and speak their local languages fluently.
And then the time will come when the US owns europe via tech corp. You barely have any tech giants. Asia has a lot. It's like a different form of colonialism, but this time you dont even know you're being colonized.
30 years after the Treaty of Maastricht, Europe is more reliant than ever on the US for technology, security, energy and capital. So much for the French fetish for a “sovereign Europe”.
@@wafercrackerjack880There is a Chinese idiom called "boiling a frog in warm water", it used to describe a person who is in a gradually worsening situation without any realization of the peril until it is too late. Right now the Europeans are the frogs enjoying longer holidays in a pot of lukewarm water gradually heated by their competitors, especially the United States. Even though the water has become dangerously hot, many still fail to see or choose to ignore the coming danger, just like the comment in here.
The US can theoretically vote to implement more of those policies if they become popular/demanded enough. Europe I suspect will have a harder time voting themselves economic growth, a decent birthrate, natural resources etc.
On the metric of productivity, you say in PPP terms that Euro productivity actually exceeds the US. The graph you show is talking about growth in productivity. Is it also true that Euro productivity in absolute terms is higher?
This is misleading in 2008 the UK was part of the EU have you excluded them from your figures? Your headline says Europe there are 44 countries in Europe of which only 27 are in the EU.
The US is doing better economically because they exploit people more than in the EU. They work more hours, have less vacation days, have no health insurance or if they do against a breathtaking $1,000 a month. In return some get a higher wage but most have a minimum wage, have to pay their own education and their children’s education. In short, I prefer to have a little less growth, but a better life.
And if that low growth continues in the EU, you can kiss that social safety net good bye. Either the EU somehow magically triples growth for the next decade, or it accepts much more young immigrants to pay the Tax burden of an aging Europe. If it does neither of those the quality of life declines.
@@teamtoken Europe has imported 20 million military aged Muslim men. Also no mention of the fact that US taxpayers subsidized Euro 'Solical Safety Nets' via funding NATO so Euro countries could divert money to them instead of the military spending.
Very bitter comment, most of which is false. The American standard of living is significantly higher. It's so much higher that the average European is considered lower class in comparison to the average American. I know you don't like to hear this fact but it's backed up by the data. The vast majority of Americans have affordable health insurance and access to higher quality medical care than Europeans. They also have access to the best schools and universities in the world. There's nothing wrong with loving Europe and preferring the European lifestyle. But don't spread false information to make yourself feel better about your life.
Ah yeah you like the nanny nurse state govt you have We dont have a problem with in equity you are right. We dont do well with mediocrity ..its not a slam its just not our collective memtality @teamtoken
*YEAH BUT* America's growth is fueled entirely by debt and consumer spending. Europe is falling behind something that will inevitably collapse. Europe does and should do more - make the luxury goods for the world. China has a massive middle class who are starting to want European luxury goods, and India will follow. And you cant make luxury goods with AI. The whole point is they are made BY humans in painstaking detail and quality. Europe's future is good.
Another weird European fantasy about America collapsing. What you don’t mention is that 75% of our debt is owed domestically not to mention that if the US collapses the EU will also collapse. Italy also makes a lot of luxury goods yet their economy is in the toilet.
I wouldn't say Europe's future is good. First of all, where are you get the minerals and natural resources to produce those goods? Europe has next to none unlike USA and China, and in small pockets where they do, they can't mine them as it would quite literally destroy their strategy for meeting their climate targets. Also, the low fertility and aging populations would quite literally make the welfare models of European countries unsustainable which would inevitably collapse.
@@inbb510 We are talking about luxury goods - almost nothing on earth uses fewer raw materials. A $10,000 Saville Row suit used 3m of fabric... Europe's future is good if it wants it to be
The problem with Austerity is that it was no such thing. To effect such a policy, public expenditure must be cut, and that means cutting out whole sections of the public sector that don't add value. That's a big chunk of the PS which is "luxury", but no country ever cuts its PS because it's politically untenable.
Ah yes. The "luxury" bit of the public sector for you is the bit that you happen not to use. Fine to cut that (who cares about other people after all) but if cuts were proposed for the things you depended on you would be raging about that. People are so dishonest with themselves.
@person.X. we have to grasp the notion of what can be afforded, what should be afforded, and the opportunity cost the public sector imposes on the economy. Government is the worst possible provider of anything - trains, education, health, gender equality, wealth creation: it sucks at absolutely everything and shouldn't be allowed to get involved. People who win a popularity contest every 4 or 5 years are not the ones to be given powers to borrow money. Let them spend what they raise in tax, and when it's gone they either have to raise taxes, or stop spending. That would bring focus and priorities to the fore, instead of the moral outrage of dumping de t on our unborn children.
Better change the logistic codes for the EU 🇪🇺 Growth. And, the invoices billing patterns be redefined, within the Eurozone by different tax rebates for the member states, according to the funds they get from the European Union 🇪🇺, Brussels.
If The EU instead of being a vassal of the US and collaborates with Russia this wouldn't be happen. However when Germany and Italy are still occupied by the US, and when countries like Poland and tiny states in Baltics in the EU this is like impossible. The other problem USA economy under liberal left and Neocon regime isn't bright neither. National depth is sky rocketing. Both US and EU have demographic and social crisis. But if a new regime took the charge in the US can do something against this decline. Like to reverse and abolish so called "civil rights" laws. And isolate The US from the European hemispheres.
Hey thats whole of europe's GDP at PPP. Which is like 35T and china is supposed to surpass the whole contient by 2027. Europe and EU is different thing. In nominal terms The US has larger GDP than whole of europe.
Europe includes countries like Russia which normally aren’t factored in to the Eurozone, and the EU ofc isn’t all of Europe, so aggregate European GDP ends up being bigger.
@@480darkshadoweven with Russia currently in nominal terms the US has a larger economy than the whole continent and this is 778 million vs. 335 million
Europe lost its competitive edge over the world as they prioritised social welfare over industrial development and depending totally on USA after WW2 for its R&D, security and global stage representation. USA smartly acquired top European businesses, researchers, skilled citizens leaving EU on their mercy. Only France to a certain extent have been self sufficient in their growth as a nation excluding them UK, Germany, Spain, Italy, Netherlands all became over depended on USA and are now paying the price. Even now whenever European nations get an edge in certain technologies like the Green Energy the USA have given added subsidies to those countries to relocate into the US leaving the EU nations with nothing. Europe should start focusing on becoming more self reliant like China and USA to become a great power back in this global geopolitics because emerging nations like Brazil, India, Australia, South Korea, Japan are growing faster and the gap would increase with every passing day.
you can't start any discussion concerning a comparison between US and Europe without mentioning the gigantic differences in land and natural resources which clearly favours the US. Also, not letting the old continent being run by billionaires like in the US was a rational political choice in most european countries, especially the most advanced one.
@@MarcusLangbart Yes you’re right but USA land mass was same for atleast 150 years but they became relevant force after WW2 before that it’s just a country with civil wars, discrimination and economic hardship. But American actions in terms of sanctioning countries, monopolizing global bodies, weaponizing dollar against other currencies including not allowing Euro for crude oil trade against petro dollar to leading NATO countries into self interested wars all are quite evident. Europe which was a force in itself went more socialist in terms of welfare against a competition driven capitalist economy which is becoming more difficult to handle because welfare model works on taxes which a government can collect and with reducing birth rates, unskilled immigrants claiming asylums to acquiring European Skilled workers and industries by USA is all contributed to European downside of economic growth. It’s bad economic policy and too liberal approaches to immigration which is bringing added burden to European nations as these immigrants are adding burden of social welfare may it be in housing, healthcare or education and contributing less on contrary to US Canada Australia where skilled workers who generate higher taxes due to high skilled jobs they work in contributing taxes and higher economic growth to the respective countries. Only France is a nation which is some way independent in strategic and national security issues in Europe
@kamaljeetsingh1467 before WW2 the US was just a country with civil wars, discrimination and economic hardship? What? There was one Civil War. Highlighting war or even discrimination in the US when comparing Europe is a little ironic. Theres been no shortage of wars all over Europe for all of history. The US overtook the British Empire as the most productive economy by 1890. Obviously US power and influence really took off post WW2, but the notion that the US only became relevant post WW2 is laughable.
@@chickenfishhybrid44 You slightly misunderstood the statement the economic hardship was referring to Great Depression and US acquired colonies of Pueto Rico, Philippines, Guam, Cuba etc with mainland. Discrimination was referencing to no women’s voting rights until 1920, income imbalance among blacks and whites, natives getting wiped out for commercial exploitation and colonies were used for medical experiments!! USA staying out of WW’s was more about congress and President Wilson limiting no foreign adventures, US banks lending loans to European borrowers for funding WW’s, American subsidies on arms exports during WW1 & 2, capturing of German scientists and engineers and shifting them to US mainland for R&D were all planned to exploit wealth and influence for USA. These all frameworks later turned into UNSC, IMF, WB, NSG etc which US uses till date to leverage influence and sanctions on other nations!! The Europe once a colonial states who fight against Russia, other European nations, USA went from being industrial societies to more socialist/welfare driven countries on contrary US became more capitalist and hegemonic with time as there’s no one else to challenge them ✌️
@kamaljeetsingh1467 You seemed to make a pretty broad statement as if the US was only successful or relevant after WW2. Have colonies ever been equal or better off economically than their colonizer? A lot of what you point to European countries were doing similar things around the same time and throughout history. This isn't a defense of these acts, just a fact that many countries' hands aren't clean in these regards. Women in most of Europe got voting rights around the same time as the US, like two years earlier. It's not as if income inequality between Europeans and minorities didn't exist. It exists in a lot of Europe today. The Spanish, French, and British were the ones that started colonizing North America in the first place and in many cases fighting and killing natives for... commercial interests. On the subject of staying out of WWs, what's your point? Yeah, Americans didn't want to be involved in European wars.. You make it sound like someone was claiming the US avoided entering these wars for noble reasons, but it was really just because of "President Wilson and congress". Like what? On the subject of giving loans and sending arms to Europe, again, and? Europeans wanted to buy weapons and material to fight in their wars.. the US could provide them. It's funny how some seem to think giving loans and weapons to Europe for WW1 or 2 was like immoral or nefarious, but also today if the US doesn't want to provide weapons to Urkaine that's also nefarious or immoral.
SOMETIMES THE STEREOTYPED SOLUTIONS ARE THE ROOT CAUSE OF THE PROBLEMS BOTH POLITICALLY, ECONOMICALLY AND MILITARILY. WHY NOT USE A DIFFERENT APPROACH, PERCEPTION AND SOLUTION?
*THE GERMAN CAR INDUSTRY* struggles from make sh!t cars...!!! And relying on the reputation from the past. I was in a €200,000 Mercedes S650 Maybach last month - it was sh!t. The switches and air vents were chromed plastic and part of the dash was fake leather. Filling the cabin with Twitch streemer gamer RGB lighting does not make up for sh!t quality. The 1994 S -Class was an infinitely better car.
US gets $4 trillion in tax revenue. They have a $2 trillion deficit and $1 trillion interest payments. Ray Dalio said recently that US in going into a snowballing debt problem. They have to borrow money to pay interest payments.
We need rapid automation of jobs in the west and thoughtful policies to protect our societies from the worst negative outcomes of this automation. This might include some sort of universal income.
That’s an odd idea. If you’re automating production, you’re destroying jobs. Ok you’re producing goods in higher numbers but who are you going to sell it to if you have more poor people? And even if you establish a universal income, the money have to come from somewhere so either you’re selling the goods overseas (in which case they will want to protect their market too, and produce locally since you can do so with automation) or the universal income you distribute will be contributing to inflation (we’ve just been through such a phase to remember how this works) and the consumption won’t be near the sufficient level to sustain this economic model. And next thing you know if you don’t have the population to support the model, then you’re creating more and more poverty.
Appreciate your work. Italy Republic 🇮🇹 full PR voring system for Italy general election. Italians or better off in EU Italy in the EU as member state . I am Italian citzen Pietro Boselli Italian runs Italy he your friend Thomas. General Diaz runs Italy Army November 4 Unification Italy 1918.
This news is for British people but's not real. The people think is for Brexit, but in the south Europe the economy is growth and the inflacción is very low.
To those who have a positive view of the EU, I ask: How will you solve a debt spiral that is out of control in Italy, France and Spain? How do you increase competitiveness when new layers of legislation are continuously coming from the EU? How will the internal market become spontaneous and dynamic when the EU countries are not allowed to compete on regulation and taxes? The EU is a central power that limits individual freedom. Decentralized and liberal countries like Switzerland is extremely successful and extremely democratic.
It's just part of the beginning of the end of a world paradigm. By the end of the decade, (that is if make it that far) most of the developed nation's citizens will be living a lot poorer, and in smaller subdivided housing. Maybe it's a good thing, we will see. Depending how fast the paradigm crashes, we may see universal incomes so people can cover most of their housing and food cost. Whatever money people will make selling shit products and services they can graft from their online criminal activity, (also known as their job) will be their taxable income. This is the opinion of my cat, and he is very smart. So prepare.🙀
The problem with Europe is the EU, millions of pages of rules and regulations and very high taxes. Ireland has low taxes and guess what ? its booming. The Euro is a dysfunctional Currency that will never work long term and it will be a huge disaster one day. The good news is the people are beginning to recognise this and they are moving to the right all across Europe as in Holland and Germany. Next years EU Parliament elections are going to be fun to watch
I wouldn't see it as so dramatic, Germans still earn on average 8,000 euros more than Brits, have better health care (no waiting times, more doctors), more vacation, lower energy prices (better/more modern houses, good insulation, comfort), a lower one Unemployment rate, 52% of energy comes from renewable energies, and there are billions of investments from e.g. Tesla, Intel, TSMC. There are no tuition fees for schools and universities. The national debt is at 69%, so here too the Germans are doing better than the British with 101% national debt
@@stephenconrathe7197 Its not Germany is in recession. The UK is not doing to bad, we have just taken over France to become the 8th biggest manufacturing Country in the World. Last week alone South Korea are investing £21billion in the UK. Microsoft are investing £2.5billion, Nissan £2billion, plus £ 11billion on the Dogger Bank wind Farm. Thats all in one week and pretty soon you will be talking about real money !
Migration of people from 3rd world countries is the biggest problem. Import the 3rd world = become the 3rd world. And socialist policies the second biggest problem. The bigger the government, the harder for business through taxes and regulations, the less economic growth.
THE EEC signed its death sentence when it listened to the US to make it a common currency union. A currency easier to manipulate than the many Francs, Deutche Marks, Lira, etc that made currency manipulation impossuble.
Politican busy blaming muslim migrant Despite EU themselves don’t have that much to offer, unlike china where many products manufactured on china’s, or US with many software came from US,
@@lisaroberts8556 It is all clickbait so does one youtuber claim europe is dying and the other claims american is dying, well let me tell you one thing. The gass price is at its all time high but we are doing better than we ever have done. Europe
The USA's debt to GDP ratio may not be recoverable at 129% compare it to the EU at 90%. The total debt of the USA is eye watering at almost 3x the EU's. The EU needed to relax the austerity rules that predated the 2008 financial crash, it was a disaster and major contributor to brexit.
At face value yes, but the US government also owns a large portion of the debt, a good 21% of it. At net, the USA's debt is comparable to that of the UK, however, more than a quarter of the UK debt is index-linked therefore as a tax burden, the UK pays more in interest than the US.
@@elifuentes7070 we could do what they have now that we are out of the EU. Article 102 of the Lisbon treaty prevents a cental Bank lending to its own Government. Irrespective of who owns debt it's still sitting on a balance sheet and in the case of the US the repayments are quite staggering.
@@garybird8646 Quite staggering? Maybe so but how can you not grasp the fact that a huge portion of that repayment goes to the federal government itself? Besides, the level of debt of the US is not that shocking compared to Japan, or China, and in fact, the US has a better balance sheet than the UK, Spain, or Italy. The last 3 are indeed economic basket cases that have dim economic futures.
Ya but... Have you compared standards of living? The United States is in a very serious decline. Violence is unreal, wealth is concentrating in the hands of fewer than 10% of the nation and the middle class is less than half the size of that in Canada in per capita terms. Health care is atrocious with more than 50% of the nation avoiding going to a doctor. 60% of the country is living paycheck to paycheck. The US is a functional oligarchy.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
Bureaucratic , government lead green driven economy that works with low interest rates . Not now . Germany will now pay the price for its hubris, or rather its citizens will. America have the ace card up their sleeve , the eurodollar market ( the true reserve currency which is in massive demand) and thus their debt to GDP should not be looked at in the same way. The only solution is to allow for a truly free market, sideline government and let people thrive.
@ economicshelp: Then explain the high GDP of the Irish, why it really is and how much a normal Irish person actually earns. GDP is not everything to describe wealth. And that also applies to the USA, where food prices alone have exploded.
GDP as a stat doesn't work for Ireland as I understand it, so I'm confused why it's shown here. Not that it matters because if the BEFIT measures pass in EU Ireland's economy will have the rug pulled out
US debt to gdp is at 123% compared to 2 minute mark in video of Italy at 145% so not a good point to make for you. EU as a whole is 90% but with lower growth than the US it’s a problem.
@@godogs89 But the US is only getting growth by borrowing INSANE amounts of money and pumping it into the economy. That is not sustainable and the trend is frightening...
I have a new video which looks at why Germany was the worst performing economy of 2023. th-cam.com/video/OKuCtXWWDpk/w-d-xo.html
Europe did not get into the information age. Is there European equivalent of Google, Facebook, Microsoft, Amazon? What industries are the 50 biggest companies in? Europe is also not in the new industries that are coming. Are they in artificial intelligence? 5G communications? Cloud computing?
If you are stuck with industries of the past, all the "economic statistics" just tell the result of their problems, not the root cause.
Europe didn't have the time, since the post-war period it found itself in unstable politics, it had economic booms but nothing compared to the USA which had become a colossus, most people had a good idea or wanted to do a start-up went to the USA there were more funds, not to mention the greatest scientists who emigrated to the USA after the war, when the communication era began, a large part of Europe was facing an enormous financial crisis, the largest companies were starting to relocate and Germany was the only one that could compete, in fact some of the most important companies in the world, the European ones mostly belong to Germany, furthermore creating software similar to Facebook Instagram Amazon eBay etc was quite useless, both because Europe it is quite small both because our main economic partners were and are the USA
I heard this happened because we are not allowed our own search engines because of US
Europe has too much red tape when creating businesses. We lived in Switzerland and my husband (German) and his Swiss friends-coworkers could not start a aerospace business due to the hassle. Other friends said selling a house in Switzerland was a huge nuisance. We just returned to the US to get back in aerospace.
🤔🤣🤣man the title of the video tells it all of how they have to try and keep usa at the top of everything.Please the usa and Europe is in the same boat declining the usa isn’t doing no better then Europe and Europe isn’t doing any better than the usa.This video is ridiculous it’s like trying to say the usa is ahead of Canada 🤔🤣there both fucked up both of them.
That's true. I worked with an Investment Fund. We wanted to invest in certain sectors and start-ups in Germany. But the German officials took so much time that by the time they approved everything, we had already changed our mind and left the country months back.
They make you feel that they are doing a favor for you. They were not rude to you but they were least concerned about our time and schedule.
@@asmirann3636 Yeah. German KfW bureaucrats refused to give written info to investors and delayed the process so much that it didn't happen. Fuckers. (But it read irrelevant info and nobody should have cared anyway)
@@jamalgreen3056 Talk of the decline and death of America are grossly overblown. Most people are doing fine, and America is positioned in an extremely advantageous part of the world with a weak neighbor down south (border crisis can be solved quickly if political will is there), and a friendly and equally weak neighbor in the north.
@@jamalgreen3056The US is ahead of Canada in respects to economic growth and resilience.
Finally someone talking about the Eurozone. In the UK our popular press would have us believe the UK is the only country on the continent of Europe to be struggling. Don't wish this on our eu neighbours but in some ways its comforting to know we're not alone in our floundering!!
Yes, the British are doing worse, take Germany for comparison: Germans earn on average 8,000 euros more than Brits, have better health care (no waiting times, more doctors), more vacation, lower energy prices (better/more modern houses, good insulation, comfort), a lower one Unemployment rate, 52% of energy comes from renewable energies, and there are billions of investments from e.g. Tesla, Intel, TSMC.- There are no tuition fees for schools and universities. The national debt is at 69%, so here too the Germans are doing better than the British with 101% national debt.
@@nettcologne9186Italy, Greece, Spain, Germany, Poland, the baltics all have severe demographic problems. The UK isn’t as bad as those countries in this regard. The EU as a whole is getting old and dying off.
But the UK is struggling even when compared to the European Union.
@@stephenconrathe7197 The mistake is that the UK compares itself to the EU. The EU's economic power is 16 billion euros (GDP), the UK's economic power is 3 billion euros (GDP). The UK can compare itself with countries with similar population sizes and economic power, for example France, but not with the US, EU or China.
@@welshedyes you are right, you take hundred of thousands of Africans and asians every year.... of course you dont have natality problems. Last time I visited England I was in London and Birmingham and it looks like an arabian countrie, I didnt see english people
I'm an Assistant Economist in the UK Civil Service and I love these videos!
The European Union was formed in November 1993 with the Maastricht Treaty. The strength of the EU was it’s protectionist anti globalisation trade barriers that made it more economic to buy from within the group. The aim of the EU was to protect member nation jobs, farming and industry, by adding tariffs to imported products.
But within six months the World Trade Organisation was established by 123 nations at a meeting in Marrakesh. This agreement was exactly the opposite to the protectionist anti globalisation trade barriers created by the EU. At its core was trade liberalisation, include binding the negotiated tariff reductions for an extended period.
This WTO agreement has created a nightmare for the EU. In theory as member nations they should abide by WTO guidelines. They ignored this for around a decade, and concentrated upon side issues like free movement within the block.
They also began a back door campaign to thwart the WTO by implementing EU standards that could be used as non tariff barriers to trade.
But by the early 2000s they were under increasing pressure to open up markets. In response to this they began negotiating Free Trade Agreements, that contained strict protectionist limitations and were FTA in name only. The agreement with Japan was actually called a Economic Partnership Agreement or EPA. It specifically limited Japanese car imports, making it a mockery, and was not an FTA.
In recent times even the FTA negotiations have collapsed. The Australia FTA fell apart, and the Mercosur FTA is falling apart when the EU wanted severe limitations on agricultural products. Hence the recent French, German, Belgian and Dutch farmer protests.
The EU is now an anachronism in a free trade world. It is desperately trying to find a justification for its existence, when in fact it’s relevance ended with the signing of the WTO.
Here in the UK we are told that the EU is booming and that the UK is the only sick man because we bolted.
2:05 where do you see our uk?
🤣🤣 The EU are bankrupt, good luck Germany supporting the rest of the block but that was always their plan and not a drop of blood was spilt!
I wouldn't see it as so dramatic, Germans still earn on average 8,000 euros more than Brits, have better health care (no waiting times, more doctors), more vacation, lower energy prices (better/more modern houses, good insulation, comfort), a lower one Unemployment rate, 52% of energy comes from renewable energies, and there are billions of investments from e.g. Tesla, Intel, TSMC.
There are no tuition fees for schools and universities.
The national debt is at 69%, so here too the Germans are doing better than the British with 101% national debt
@@andrewtaylor6737it isn't bankrupt... That's nonsense.
@@Cofarl but it is look at the debt levels
As a citizen of EU, I believe we simply aren't united enough, plus we are importing too much of our energy. Nuclear energy could have saved us, but Germany had eco-zelots fighting against it. Hope that what now is happening with Ukraine will force us to united into something stronger.
what r u talking about dude.. France is the nuclear power of the world
WRONG!
Dude wake up some stranger tells you A and you believe in A like you've never heard anything else... meeeh!
agree, i think EU has too many countries and too many laws in order to be united. A country that doesn't matter can veto anything in order to move EU forward.
Also they work less hours than US and Chinese on average. Not saying it's wrong to work less, but you have to sacrifice something in order to have more free time.
Idk why so many people talk without having a single idea about what they talk.. There are more laws in the UK than in the EU, just to make an idea..
Also, there's a bigger productivity in the working environment in the EU than the USA or China, what's sacrificed?@@eile4219
Please do an analysis on Australia's economy, would be very interesting.
Tbf every country will experience economic deterioration, it’s just a matter of where the country is on that curve.
I reckon it’s to do with exponential population growth, and what happens in the post developed country.
Thanks for speaking honestly about the Economy crisis situation. Looking the the track estate, the industry has driven home prices too high for most families. The solution is for prices to align with family budgets, even if it means a market correction. The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on the govt.
Especially with the current economic crisis around the word. This is still a good time to invest in Gold, silver and digital currencies ETH, XRP..).
What if you don't know how to trade any of these? I mean, see your point some people have the money and are willing to invest, the question is where to.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
Only big software firm from Europe is SAP
And even then, Microsoft considered buying them.
There is an implicit misunderstanding in this video about austerity and growth. Government spending cannot be the driver of growth, as governments for the most part simply transfer money from one group to another. Nothing grows if you just take money from George to give to Ringo. Growth happens when businesses invest to grow their business. More government simply inhibits this.
Saying that the solution would be to increase government spending is ridiculous. The real solution is to reduce taxes, make the government more efficient and lean. That would incentivize productivity both for business and for individuals. That is the secret sauce of the US.
It is comic that economics wants Europe to spend like the US (large debt) but don't want Europe to tax like the US neither produce like the US.
It's really sad to see the EU falling behind so terribly; the US Inflation reduction act and the EU's failure to mount a proper reaction (in practical terms, not just rhetoric) is disastrous
Not sad, its days are numbered & not before time!
but when you are in US you don't feel a huge difference, do you?
Not exacly true. The IRA is just throwing money at the problem, while refusing to involve current leaders of industry. It comes at the expense of a MASSIVE deficit wich the US can afford because its the worlds reserve currency. Meanwhile the NZIA, will include carbon taxes (including on borders) AND will include industry leaders. This will help much more creating better ecossystems as well as atract skilled labour. The carbon taxes also mean you pay more for producing outside of the EU and transporting there, and help finance it, while also helping to increase demand for lower carbon steel, batteries etc, wich in tern reduces the need for high subsidies to stimulate demand. Furthermore, the IRA is helping european companies a lot more then the NZIA industry act helps chinese or american companies
You mean the US Inflation Rapid-increase Act? Because Bidenomics is working so well that 2/3 of the people give it failing grades. Who would have thought that increasing the money supply by printing TRILLIONS of dollars could cause inflation? Study Milton Friedman, NOT Paul Krugman.
@@lostintashkent Yeah. The US living standard is significantly higher than that of Europe. Material consumption, living accommodations, comfort, and ease of life are totally different. European life is quite meager by American Standards.
The US largely funds its growth by printing money and taking up more debt. At some point that’ll have to come to a hard stop.
yet their allies are happily helping them to do that. when it collapses the US will take everyone down with them. I can't comprehend why europeans are happily subservient to their american masters
Well said!
Europe robs Peter to pay Paul. And it pays Peter with cheap or stolen resources from "the jungle"
It is. I didn’t expect decade and more after 2008, finally FED increased interest rate with QT within just a year. It’d still take years of QT to get to some “normal”.
@@rheung3 indeed and apparently 25% of USA companies are zombie companies that have only survived because credit has been pretty much free for the last 15 years. But now that interest rates are going up, it’ll be interesting to see how many US firms goes under.
Part of the challenge here is that there is a very big difference between the different nations of the EU. From, Rumania,Greece and Italy to Germany France to the nations in the nordics. The needs of these variety of nations is varied and hence difficult to manage.
One huge problem in Europe is the massive declining population. The EU establishment was aware of this massive problem in the 1990s. Turkish immigration helped a lot. Most Turkish muslims were not radical & assimilated quite well into the EU, particularly the German workforce. & contributed much labor to the overall economy. Since early 2000's EU, particularly Germany, brought in millions of immigrants. However, 90% were/are young men. So many refused to assimilate. Many were tramitized by war and poverty and become a burden on the very liberal social welfare resources. I understand that this is very unpopular to say & there are many immigrants that assimilate very well. Yet, this marked the beginning of the end. If not for America, Western Europe would not exist today & would have been destroyed by World War 2.
" If not for America, Western Europe would not exist today & would have been destroyed by World War 2." You just wanted to tell us you don't know history?
@brb4903 After World War 2, western Europe was completely devastated. The bombing devastation literally destroyed more than 80% of Europe's cities & infrastructure. London had to be totally rebuilt after the massive blitzkrieg. There were complete German cities that were 100% destroyed & ravaged by both Soviet & western bombings. Berlin was totally unrecognizable. All of Europe's economy had completely & totally collapsed. The USA developed the Marshall Plan. They gave billions to Europe, especially Germany, to restart it's economy, rebuild it's cities, agriculture, infrastructure, & it's totally devastated manufacturing base. Not to mention, the German survivors were left totally demoralized. They had no industry, no food, no shelter, and were left with scraps of food because millions of Soviet troops had terrible vengeance towards the Germans & were frenzied with hate for Hitler & all of the German people. The Soviet Union lost between 20 to 80 million soldiers & civilians, fighting the invading nazis. Their anger and bloodlust were very hard to quench. Even after the war, Soviets were extremely brutal to Germans, including women & children. Millions of German women were raped & murdered. Unfortunately, millions of German women were raped & killed, leaving millions of German orphans with absolutely no means of support. They had to scavenge across war-torn Europe for scraps of food. The eastern front of Europe was severely bleak. The West really never knew the actual scale of destruction of the Soviet controlled east. Everyone certainly knew it was bleak & destructive. Even after The Soviet Union collapsed in the late 1980s and 1990s, there was still an extremely stark difference between post-war recovered west versus The Soviet controlled east. The West had recovered their technological advancements, their massive manufacturing booming industry, & had a much better quality of life compared to the depressing economically devastated eastern Europe. The Soviets finished the massive Berlin wall, & extensive iron curtain in 1950s & 1960's, to encompass all of the eastern blocks. This ensured Eastern Europeans were to be keept poor, indoctrinated, economically depressed, & under dictatorship. Eastern Europeans were trapped into the devastation of Soviet depots' ideology. The USA economy emerged in a much better economic position after World War 2, whilst all other advanced countries litterly faced national bankruptcy USA economyflourished. The war didn't touch mainland USA. The USA is still receiving repayments from our allies for our "Lendlease programs.""" Our isolation with 2 major ocean buffers, had left America with the ability to continually pump out food, weapons, & other resources our allies needed. If not for the USA, Hitler would have starved the people of the UK in order to obtain their unconstitutional surrender. We flew supplies through Alaska via Siberia to assist Stalin in the massive onslaught of Hitler's "Operation Barbarossa." With all due respect, I actually do know history. I'm a high school history teacher.
Yeah I agree. But saying that without America Western Europe wouldn't exist is a big fallacy since the opposite is true as well, without Europe USA wouldn't exist.@@nancypatterson2215
@@nancypatterson2215 You may know history, but you clearly don't accurately predict the future of conditional hypothetical situations that haven't happened. The "Everything would go to the pits forever and forever" is a well-known "The Sky is falling and won't get back up" fallacy. I personally think that if America didn't get involved, it would've been napoleon 2.0 and mr.mustache would've met his Waterloo.
No mention of Europe/ the UK's responsibility for making war on the Middle East.
Please do an analysis on Portugal's economy, would be incredibly interesting.
Interesting for who? The two Portuguese who watch this channel?
No point, its been bankrupt for years!
My extended Portuguese family want out of the EU, but won't have the luxury as we did in the UK. My 2 kids hold a both passports, but the Portuguese one is bloody worthless!!
Attract US tech digital nomads and millionaires with this one SIMPLE tax cut that locals who have to find housing HATE!!
Would be Portugals recent economic policies dummarised
@@baratoplata7050 Don't worry, the property market will crash in Portugal / world. Hopefully the Português people will be able to afford property again, in the future 🤞
Actually its quite an interesting economy, its probably the most corrupt country in the EU, with corruption being speculated at 20% GDP a year, yet they market the country as this nomad haven, even though tax rates are around 23%-43%. They have a housing bubble but sell all the land to foreign investment funds, and the prime minister has been arrested. Whats not interesting about this?@@pollutingpenguin2146
Well done for a more balanced world and european overview. Europe in applying more social policies, regulations and move away from nuclear and fossil fuel production has resulted in a declining continent being left behind by americas and asia. Unfortunately a desire for more social time, less work effort and production and not being energy self sufficient the deeper into recession and debt u fall in challenging times.
Points well made.
African coutries too. Nigeria will pass all of Europe and by the end of 2100 europe will be overrun with Africans/arabs. Many African and Asian countries are experiencing massive economic growth that the west dosnt talk about. USA and Europe has aging infrastructure Asia and Africa has new infrastructure everyday
Nicely done ✔️
I very much agree with the point made here that austerity is a function of the misguided capital allocation governments have historically made, where GDP growth does not keep up with or exceeds debt growth. There is a widespread tendency for the next election to be won by spending beyond one's means. It could be considered to have a constitutional provision that a sitting government that generates a deficit or debt level of a certain size is automatically removed from power and abandoned from holding public office in the future. It would create accountability.
You think the EURO has fallen? What about sterling?
This video refers specifically to the euro since it attempts to examine the reasons for economic under-performance in the EU. For purposes of comparison, the fall in the value of the euro against the USD since 2010 has been approximately 22.7%, whereas that of sterling has seen a lesser drop at approximately 19.8%.
He said he wanna move from Chelsea
Great video!
Great video. thanks. I'll use it as a base for my economics 101 class next week. In Africa.
Very good summary about post-war prosperity factors eg baby-boomers, transformative technologies eg computers, collective confidence that we now don’t have. It reminds me one science article said that the best economic year so far is 1978.
1978, the good old days of the Carter administration - double digit inflation, interest rates, and unemployment.
US LNG is very expensive compared with Russian gas supply eliminated by US sabotage.
I had no Idea the Russian Invasion of Ukraine was sabotage lol.
Fell behind? When since WWII has the EU ever been ahead of the US?
They have before the housing crisis
It could have in many sectors, but as a colony of the US we were never allowed to because the US was stronger militarily
Yes, the E.U. is likely to suffer a Recession. The European Union has to do some Quantitative Easing, perhaps 1.15 Trillion Euros, over 3 years.
By comparison, the smaller economies can try experimental Q.E., the figures will have to be worked out.
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank as subscriber 😊
Its a turningpoint.... i guess we heading into an Asiafocused economy... they still have room to grow. We are stuck.
Pretend Britain never left the EU would be 19 trillion. Thats still insane how they've gone from parity to America significantly larger.
US 2023 GDP is $27 Trillion. The EU+ UK is still larger than China’s $17.7 Trillion though
And no Croatia on the opening EU map? Croatia has been an EU member since 2013. Inform yourself before posting something!
He probably doesn't even know where is Croatia on World Map. Most of these You Tubers are quite stupid.
Portugal is a fiscal paradise, resembling CUBA.
I’m still convinced this guy is deepfaked ai
I mean my state in India(Tamil Nadu) has government funded healthcare for the poor that performs even complex cancer operations. People don't go into much debt for college, etc. But I'm not going to say living standards there are better than the US.
Europeans keep presenting this argument of lower work hours and socialized healthcare like they are a great substitute for economic success. A small difference in the GDP would make sense for this claim but this is an 80% difference😅
The EU and Europe are not going to catch up with USA whatever the economic policies. USA has so much more space and land, is self sufficient on energy, has a huge home market with integrated transport and largely a single language. It has a younger population and navigable waterways plus the most high quality farmland in the world. Also with the US$ as the world's reserve and main transactional currency, it can borrow endlessly at the lowest interest rates. The massive military and worldwide bases are paid for on this borrowed money. Europe does not need U.S. style deregulation and unsafe food and environmental practices. That is a red herring and against people's interests.
Germany can borrow at lower rates than the US, because it’s in far better fiscal shape and trusted to spend money more responsibly. But that’s the fatal problem for Europe: Its strongest economy refuses to borrow to invest or stimulate, out of deeply ingrained, economic illiterate superstitions about debt that will ultimately cost them more in bailouts and crisis responses than the cheap money they refuse to spend now.
The U.S. has similar problems but we're also fighting obesity, dysfunctional family dynamics, and high divorce/low birth and marriage rates. The U.S. is so isolated. I believe the mirage that the U.S. is the most powerful country on Earth is due to its energy independence, but strip this away and the entire country is grey and brown covered with brick and mortar. Not only do people in the U.S. struggle financially, but there isn't much of a culture to soothe or enlighten spirits so there are a lot more people here who struggle psychologically on top of external issues.
Looking at Europe now along with Communist China and I saw fact of this world. Europe may not be moving fast compared to CCP but Europe may not fall any hard neither. CCP on the contrary had moved so fast forward but into the dark unknown future. We all the whole world need to look again at current situation and make big remedy as necessary required by each nations together. The world simply cannot go on the way the past 20 years.
Immigration plays a big role in the U.S. Europe wants immigrants, but only ones who will forget their culture and speak their local languages fluently.
Exactly. Who's gonna learn German.
Another good reason for Brexit.
I’d rather keep our longer holidays, lifestyle thank you. Don’t need the American-style growth.
And then the time will come when the US owns europe via tech corp. You barely have any tech giants. Asia has a lot. It's like a different form of colonialism, but this time you dont even know you're being colonized.
30 years after the Treaty of Maastricht, Europe is more reliant than ever on the US for technology, security, energy and capital. So much for the French fetish for a “sovereign Europe”.
@@wafercrackerjack880There is a Chinese idiom called "boiling a frog in warm water", it used to describe a person who is in a gradually worsening situation without any realization of the peril until it is too late.
Right now the Europeans are the frogs enjoying longer holidays in a pot of lukewarm water gradually heated by their competitors, especially the United States. Even though the water has become dangerously hot, many still fail to see or choose to ignore the coming danger, just like the comment in here.
Enjoy those longer holidays while you can. At the rate Europe is falling behind, those benefits won't be available in the years ahead.
The US can theoretically vote to implement more of those policies if they become popular/demanded enough.
Europe I suspect will have a harder time voting themselves economic growth, a decent birthrate, natural resources etc.
Europe wants the cake and eat it too.
On the metric of productivity, you say in PPP terms that Euro productivity actually exceeds the US. The graph you show is talking about growth in productivity. Is it also true that Euro productivity in absolute terms is higher?
This is misleading in 2008 the UK was part of the EU have you excluded them from your figures? Your headline says Europe there are 44 countries in Europe of which only 27 are in the EU.
The US is doing better economically because they exploit people more than in the EU. They work more hours, have less vacation days, have no health insurance or if they do against a breathtaking $1,000 a month. In return some get a higher wage but most have a minimum wage, have to pay their own education and their children’s education. In short, I prefer to have a little less growth, but a better life.
No there is alot of reasons and eu Exploits to
And if that low growth continues in the EU, you can kiss that social safety net good bye.
Either the EU somehow magically triples growth for the next decade, or it accepts much more young immigrants to pay the Tax burden of an aging Europe. If it does neither of those the quality of life declines.
@@teamtoken Europe has imported 20 million military aged Muslim men. Also no mention of the fact that US taxpayers subsidized Euro 'Solical Safety Nets' via funding NATO so Euro countries could divert money to them instead of the military spending.
Very bitter comment, most of which is false. The American standard of living is significantly higher. It's so much higher that the average European is considered lower class in comparison to the average American. I know you don't like to hear this fact but it's backed up by the data. The vast majority of Americans have affordable health insurance and access to higher quality medical care than Europeans. They also have access to the best schools and universities in the world. There's nothing wrong with loving Europe and preferring the European lifestyle. But don't spread false information to make yourself feel better about your life.
Ah yeah you like the nanny nurse state govt you have We dont have a problem with in equity you are right. We dont do well with mediocrity ..its not a slam its just not our collective memtality @teamtoken
*YEAH BUT* America's growth is fueled entirely by debt and consumer spending.
Europe is falling behind something that will inevitably collapse. Europe does and should do more - make the luxury goods for the world. China has a massive middle class who are starting to want European luxury goods, and India will follow. And you cant make luxury goods with AI. The whole point is they are made BY humans in painstaking detail and quality. Europe's future is good.
What data do you have to support these claims?
Another weird European fantasy about America collapsing. What you don’t mention is that 75% of our debt is owed domestically not to mention that if the US collapses the EU will also collapse. Italy also makes a lot of luxury goods yet their economy is in the toilet.
I wouldn't say Europe's future is good.
First of all, where are you get the minerals and natural resources to produce those goods?
Europe has next to none unlike USA and China, and in small pockets where they do, they can't mine them as it would quite literally destroy their strategy for meeting their climate targets.
Also, the low fertility and aging populations would quite literally make the welfare models of European countries unsustainable which would inevitably collapse.
@@inbb510 We are talking about luxury goods - almost nothing on earth uses fewer raw materials. A $10,000 Saville Row suit used 3m of fabric...
Europe's future is good if it wants it to be
Change will be followed by change....
Beaurocracy is Europe's main problem.
The problem with Austerity is that it was no such thing.
To effect such a policy, public expenditure must be cut, and that means cutting out whole sections of the public sector that don't add value. That's a big chunk of the PS which is "luxury", but no country ever cuts its PS because it's politically untenable.
What part of the public sector is a luxury? Schools, hospitals, social care, health?
@@stephenconrathe7197 Study Margaret Thatcher's reforms to see how cutting the public sector revitalizes an economy.
Ah yes. The "luxury" bit of the public sector for you is the bit that you happen not to use. Fine to cut that (who cares about other people after all) but if cuts were proposed for the things you depended on you would be raging about that. People are so dishonest with themselves.
@person.X. we have to grasp the notion of what can be afforded, what should be afforded, and the opportunity cost the public sector imposes on the economy.
Government is the worst possible provider of anything - trains, education, health, gender equality, wealth creation: it sucks at absolutely everything and shouldn't be allowed to get involved. People who win a popularity contest every 4 or 5 years are not the ones to be given powers to borrow money. Let them spend what they raise in tax, and when it's gone they either have to raise taxes, or stop spending.
That would bring focus and priorities to the fore, instead of the moral outrage of dumping de t on our unborn children.
@stephenconrathe7197 all of it. Nothing outside defence and policing that couldn't be better provided by others.
10:27 can we get a citation for that?
Better change the logistic codes for the EU 🇪🇺 Growth. And, the invoices billing patterns be redefined, within the Eurozone by different tax rebates for the member states, according to the funds they get from the European Union 🇪🇺, Brussels.
Europe naver be same again
If The EU instead of being a vassal of the US and collaborates with Russia this wouldn't be happen. However when Germany and Italy are still occupied by the US, and when countries like Poland and tiny states in Baltics in the EU this is like impossible.
The other problem USA economy under liberal left and Neocon regime isn't bright neither. National depth is sky rocketing. Both US and EU have demographic and social crisis. But if a new regime took the charge in the US can do something against this decline. Like to reverse and abolish so called "civil rights" laws. And isolate The US from the European hemispheres.
Might be wrong but I feel like your graph on % of word GDP at 0:32 is inaccurate
It's at PPP, not nominal
0:33 why does the graph show Euope’s share of the world economy to be larger than the US? America is larger right?
Hey thats whole of europe's GDP at PPP. Which is like 35T and china is supposed to surpass the whole contient by 2027. Europe and EU is different thing. In nominal terms The US has larger GDP than whole of europe.
Europe includes countries like Russia which normally aren’t factored in to the Eurozone, and the EU ofc isn’t all of Europe, so aggregate European GDP ends up being bigger.
@@480darkshadoweven with Russia currently in nominal terms the US has a larger economy than the whole continent and this is 778 million vs. 335 million
Yes it is bigger USA 26 trillions EU 23 ( if we include the UK)
Europe lost its competitive edge over the world as they prioritised social welfare over industrial development and depending totally on USA after WW2 for its R&D, security and global stage representation. USA smartly acquired top European businesses, researchers, skilled citizens leaving EU on their mercy. Only France to a certain extent have been self sufficient in their growth as a nation excluding them UK, Germany, Spain, Italy, Netherlands all became over depended on USA and are now paying the price.
Even now whenever European nations get an edge in certain technologies like the Green Energy the USA have given added subsidies to those countries to relocate into the US leaving the EU nations with nothing. Europe should start focusing on becoming more self reliant like China and USA to become a great power back in this global geopolitics because emerging nations like Brazil, India, Australia, South Korea, Japan are growing faster and the gap would increase with every passing day.
you can't start any discussion concerning a comparison between US and Europe without mentioning the gigantic differences in land and natural resources which clearly favours the US. Also, not letting the old continent being run by billionaires like in the US was a rational political choice in most european countries, especially the most advanced one.
@@MarcusLangbart Yes you’re right but USA land mass was same for atleast 150 years but they became relevant force after WW2 before that it’s just a country with civil wars, discrimination and economic hardship. But American actions in terms of sanctioning countries, monopolizing global bodies, weaponizing dollar against other currencies including not allowing Euro for crude oil trade against petro dollar to leading NATO countries into self interested wars all are quite evident.
Europe which was a force in itself went more socialist in terms of welfare against a competition driven capitalist economy which is becoming more difficult to handle because welfare model works on taxes which a government can collect and with reducing birth rates, unskilled immigrants claiming asylums to acquiring European Skilled workers and industries by USA is all contributed to European downside of economic growth. It’s bad economic policy and too liberal approaches to immigration which is bringing added burden to European nations as these immigrants are adding burden of social welfare may it be in housing, healthcare or education and contributing less on contrary to US Canada Australia where skilled workers who generate higher taxes due to high skilled jobs they work in contributing taxes and higher economic growth to the respective countries. Only France is a nation which is some way independent in strategic and national security issues in Europe
@kamaljeetsingh1467 before WW2 the US was just a country with civil wars, discrimination and economic hardship? What? There was one Civil War. Highlighting war or even discrimination in the US when comparing Europe is a little ironic. Theres been no shortage of wars all over Europe for all of history.
The US overtook the British Empire as the most productive economy by 1890. Obviously US power and influence really took off post WW2, but the notion that the US only became relevant post WW2 is laughable.
@@chickenfishhybrid44 You slightly misunderstood the statement the economic hardship was referring to Great Depression and US acquired colonies of Pueto Rico, Philippines, Guam, Cuba etc with mainland. Discrimination was referencing to no women’s voting rights until 1920, income imbalance among blacks and whites, natives getting wiped out for commercial exploitation and colonies were used for medical experiments!! USA staying out of WW’s was more about congress and President Wilson limiting no foreign adventures, US banks lending loans to European borrowers for funding WW’s, American subsidies on arms exports during WW1 & 2, capturing of German scientists and engineers and shifting them to US mainland for R&D were all planned to exploit wealth and influence for USA. These all frameworks later turned into UNSC, IMF, WB, NSG etc which US uses till date to leverage influence and sanctions on other nations!! The Europe once a colonial states who fight against Russia, other European nations, USA went from being industrial societies to more socialist/welfare driven countries on contrary US became more capitalist and hegemonic with time as there’s no one else to challenge them ✌️
@kamaljeetsingh1467 You seemed to make a pretty broad statement as if the US was only successful or relevant after WW2.
Have colonies ever been equal or better off economically than their colonizer? A lot of what you point to European countries were doing similar things around the same time and throughout history.
This isn't a defense of these acts, just a fact that many countries' hands aren't clean in these regards.
Women in most of Europe got voting rights around the same time as the US, like two years earlier. It's not as if income inequality between Europeans and minorities didn't exist. It exists in a lot of Europe today. The Spanish, French, and British were the ones that started colonizing North America in the first place and in many cases fighting and killing natives for... commercial interests.
On the subject of staying out of WWs, what's your point? Yeah, Americans didn't want to be involved in European wars.. You make it sound like someone was claiming the US avoided entering these wars for noble reasons, but it was really just because of "President Wilson and congress". Like what?
On the subject of giving loans and sending arms to Europe, again, and?
Europeans wanted to buy weapons and material to fight in their wars.. the US could provide them.
It's funny how some seem to think giving loans and weapons to Europe for WW1 or 2 was like immoral or nefarious, but also today if the US doesn't want to provide weapons to Urkaine that's also nefarious or immoral.
SOMETIMES THE STEREOTYPED SOLUTIONS ARE THE ROOT CAUSE OF THE PROBLEMS BOTH POLITICALLY, ECONOMICALLY AND MILITARILY. WHY NOT USE A DIFFERENT APPROACH, PERCEPTION AND SOLUTION?
*THE GERMAN CAR INDUSTRY* struggles from make sh!t cars...!!! And relying on the reputation from the past.
I was in a €200,000 Mercedes S650 Maybach last month - it was sh!t. The switches and air vents were chromed plastic and part of the dash was fake leather. Filling the cabin with Twitch streemer gamer RGB lighting does not make up for sh!t quality. The 1994 S -Class was an infinitely better car.
Migration is the driving force to the down fall like it or not
US gets $4 trillion in tax revenue. They have a $2 trillion deficit and $1 trillion interest payments. Ray Dalio said recently that US in going into a snowballing debt problem. They have to borrow money to pay interest payments.
I can't believe myself it's not possible yes not possible at all
Its interesting to see how a continent can't compete against a country ;)
The inflation in the US and the EU was caused significantly by the increase of money supply. Strange you haven’t mentioned it.
Add too much Green Energy Garbage to that list.
Age is changing and europe could not catch it, and we all know what happens to outdated power
You shouls not forget that the UK is a européen country and is not doing well either...
We need rapid automation of jobs in the west and thoughtful policies to protect our societies from the worst negative outcomes of this automation. This might include some sort of universal income.
I tend to agree but, for as long as the rich are never satisfied it will never happen.
Automation will but it will only benefit the few.
Because socialism worked so well in the USSR, Cuba, Venezuela, and everywhere else it has been tried.
That’s an odd idea. If you’re automating production, you’re destroying jobs. Ok you’re producing goods in higher numbers but who are you going to sell it to if you have more poor people? And even if you establish a universal income, the money have to come from somewhere so either you’re selling the goods overseas (in which case they will want to protect their market too, and produce locally since you can do so with automation) or the universal income you distribute will be contributing to inflation (we’ve just been through such a phase to remember how this works) and the consumption won’t be near the sufficient level to sustain this economic model. And next thing you know if you don’t have the population to support the model, then you’re creating more and more poverty.
O dear, a pre-Brexit map of The E.U.🧐
Europe naver be same again hard to believe i cant belive myself its not possible
👌👌
Appreciate your work. Italy Republic 🇮🇹 full PR voring system for Italy general election. Italians or better off in EU Italy in the EU as member state . I am Italian citzen Pietro Boselli Italian runs Italy he your friend Thomas. General Diaz runs Italy Army November 4 Unification Italy 1918.
This does not mention how Brexit is also a contributing factor in eu decline.
Less . Europe needs more manpower not the refugee one but skilled manpower.
West Europe is losing their Dominance 😂😂
Eastern Europe never had it.
Good news 🎉
This news is for British people but's not real. The people think is for Brexit, but in the south Europe the economy is growth and the inflacción is very low.
I think the EU is failing
Why is it unfair when
To those who have a positive view of the EU, I ask: How will you solve a debt spiral that is out of control in Italy, France and Spain? How do you increase competitiveness when new layers of legislation are continuously coming from the EU? How will the internal market become spontaneous and dynamic when the EU countries are not allowed to compete on regulation and taxes? The EU is a central power that limits individual freedom. Decentralized and liberal countries like Switzerland is extremely successful and extremely democratic.
Was stimmt nicht mit der Werbung auf TH-cam?
40 Sekunden, 35 Sekunden. 50 Sekunden innerhalb weniger Minuten.
Unerträglich!
It's just part of the beginning of the end of a world paradigm. By the end of the decade, (that is if make it that far) most of the developed nation's citizens will be living a lot poorer, and in smaller subdivided housing. Maybe it's a good thing, we will see. Depending how fast the paradigm crashes, we may see universal incomes so people can cover most of their housing and food cost. Whatever money people will make selling shit products and services they can graft from their online criminal activity, (also known as their job) will be their taxable income. This is the opinion of my cat, and he is very smart. So prepare.🙀
If you talk about economics, talk about economics and factual data ..... not politics and not populist assumptions.
I am italian and i think the future is India Indonesia Philippines Vietnam Nigeria
😂😂
yes, go move there
@@brb4903y it's not there yet
I sware to my own prayer its cant be possible i know what im saying but reality is different its for everybody anyway
The problem with Europe is the EU, millions of pages of rules and regulations and very high taxes. Ireland has low taxes and guess what ? its booming. The Euro is a dysfunctional Currency that will never work long term and it will be a huge disaster one day. The good news is the people are beginning to recognise this and they are moving to the right all across Europe as in Holland and Germany. Next years EU Parliament elections are going to be fun to watch
I wouldn't see it as so dramatic, Germans still earn on average 8,000 euros more than Brits, have better health care (no waiting times, more doctors), more vacation, lower energy prices (better/more modern houses, good insulation, comfort), a lower one Unemployment rate, 52% of energy comes from renewable energies, and there are billions of investments from e.g. Tesla, Intel, TSMC.
There are no tuition fees for schools and universities.
The national debt is at 69%, so here too the Germans are doing better than the British with 101% national debt
So why is the UK economy doing worse than the eu?
@@stephenconrathe7197 Its not Germany is in recession. The UK is not doing to bad, we have just taken over France to become the 8th biggest manufacturing Country in the World. Last week alone South Korea are investing £21billion in the UK. Microsoft are investing £2.5billion, Nissan £2billion, plus £ 11billion on the Dogger Bank wind Farm. Thats all in one week and pretty soon you will be talking about real money !
Its not as simple as low taxes, although that helps. You should also consider how half of Ireland's GDP doesn't get to Irish people
"Ireland is booming" tell that to the people that actually live here
Migration of people from 3rd world countries is the biggest problem. Import the 3rd world = become the 3rd world. And socialist policies the second biggest problem. The bigger the government, the harder for business through taxes and regulations, the less economic growth.
THE EEC signed its death sentence when it listened to the US to make it a common currency union. A currency easier to manipulate than the many Francs, Deutche Marks, Lira, etc that made currency manipulation impossuble.
The US didn’t tel europe to do that. 😂
Not even close
I never heard of this. Are you saying that it was an American idea to create the European common currency? Based on what?
Blaming the USA again?😂
@@zurielsssDesperate straw grab.
Next blame the CIA for everything. They made us throw away our power plants. They made us jack up our taxes etc..
This is ain't a competition in my book, so I don't care, and I am "European"
yet nice video
I like the US too, so....good for 'em
Politican busy blaming muslim migrant
Despite EU themselves don’t have that much to offer, unlike china where many products manufactured on china’s, or US with many software came from US,
Ah yes comparing one country to an enite continent. Sounds pretty reasonable
Americans are leaving the US for europe ...
Which ones! Liberals?
And how many Europeans are leaving Europe for the US ?
@@sachaketchummaitredegalar I’ve been to Florida. There are lots of Europeans down there. More than at anytime before in recent memory.
@@lisaroberts8556 It is all clickbait so does one youtuber claim europe is dying and the other claims american is dying, well let me tell you one thing. The gass price is at its all time high but we are doing better than we ever have done. Europe
Lol...no.
The USA's debt to GDP ratio may not be recoverable at 129% compare it to the EU at 90%. The total debt of the USA is eye watering at almost 3x the EU's. The EU needed to relax the austerity rules that predated the 2008 financial crash, it was a disaster and major contributor to brexit.
At face value yes, but the US government also owns a large portion of the debt, a good 21% of it. At net, the USA's debt is comparable to that of the UK, however, more than a quarter of the UK debt is index-linked therefore as a tax burden, the UK pays more in interest than the US.
@@elifuentes7070most US debt also goes to USA companies as well
@@elifuentes7070 we could do what they have now that we are out of the EU. Article 102 of the Lisbon treaty prevents a cental Bank lending to its own Government.
Irrespective of who owns debt it's still sitting on a balance sheet and in the case of the US the repayments are quite staggering.
@@garybird8646 Quite staggering? Maybe so but how can you not grasp the fact that a huge portion of that repayment goes to the federal government itself? Besides, the level of debt of the US is not that shocking compared to Japan, or China, and in fact, the US has a better balance sheet than the UK, Spain, or Italy. The last 3 are indeed economic basket cases that have dim economic futures.
@@beasley1232 Exactly. Just under 20% of the total US debt is owed to foreign investors, including foreign governments.
1€ = 1$ in 2001 (launch)
Ya but... Have you compared standards of living? The United States is in a very serious decline. Violence is unreal, wealth is concentrating in the hands of fewer than 10% of the nation and the middle class is less than half the size of that in Canada in per capita terms. Health care is atrocious with more than 50% of the nation avoiding going to a doctor. 60% of the country is living paycheck to paycheck. The US is a functional oligarchy.
How far have the standard of livings fall? Consider for 2023 the US ranked happier than every major country in Europe
We got problems no doubt, but we do have many luxuries Europeans don't.
@@Solitas777 Thanks and that might be very well true. But at a huge cost to quality of life, is my point.
@@Solitas777High end luxury for the top 10% ? Fancy restaurants and Holiday destinations?
Huge middle class in US; increasingly black too. Depends on where you are. Many US cities you go five blocks and you are in different world.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio
US stocks are doing well, the S&P 500 is up 18% this year.
Bureaucratic , government lead green driven economy that works with low interest rates . Not now . Germany will now pay the price for its hubris, or rather its citizens will.
America have the ace card up their sleeve , the eurodollar market ( the true reserve currency which is in massive demand) and thus their debt to GDP should not be looked at in the same way.
The only solution is to allow for a truly free market, sideline government and let people thrive.
Germanys green policies would work....in California! There's no sun or wind in Germany. Seriously wtf were they thinking.
@ economicshelp: Then explain the high GDP of the Irish, why it really is and how much a normal Irish person actually earns. GDP is not everything to describe wealth. And that also applies to the USA, where food prices alone have exploded.
GDP as a stat doesn't work for Ireland as I understand it, so I'm confused why it's shown here.
Not that it matters because if the BEFIT measures pass in EU Ireland's economy will have the rug pulled out
2200-2500€.Half of it for rent.If you don’t smoke, don’t drink and not going out, you can survive with the remaining.
Ireland has attracted a lot of US investment; it’s an English speaking, English common law country.
O dear, US £ against €
£ should give the pound sign
;-(
Has it though. Look at American debt. Its trillions and rising. Ridiculous amounts of debt.
Italy, France, Greece and Spain have similar above 100% debt to gdp ratios.
wow Greece, what an economic powerhouse..@@inbb510
The graph in 0:30 clearly shows that both the EU and the US are declining at more or same the same pace. So the title is wrong.
Maybe the US wanted the EU to stay behind.
US national debt has gone up to 34 TRILLION dollar or DOUBLED in the past 7 years. All while the EU has tried not to explode the deficit...
US debt to gdp is at 123% compared to 2 minute mark in video of Italy at 145% so not a good point to make for you. EU as a whole is 90% but with lower growth than the US it’s a problem.
@@godogs89 But the US is only getting growth by borrowing INSANE amounts of money and pumping it into the economy. That is not sustainable and the trend is frightening...
at least rents are at all time highs 😂