I have a new video which looks at why Germany was the worst performing economy of 2023. kzread.info/dash/bejne/gX-ppdaRh7qqoM4.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.

@internetexplorer3999

Ай бұрын

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

@frederika3013

27 күн бұрын

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.

@jamalgreen3056

5 ай бұрын

🤔🤣🤣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.

@asmirann3636

5 ай бұрын

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.

@mreese8764

5 ай бұрын

​@@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)

@michaelkovalsky4907

5 ай бұрын

@@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.

@IpSyCo

5 ай бұрын

@@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!!

@nettcologne9186

6 ай бұрын

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.

@welshed

6 ай бұрын

@@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

6 ай бұрын

But the UK is struggling even when compared to the European Union.

@nettcologne9186

6 ай бұрын

@@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.

@javiermp6608

6 ай бұрын

@@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!

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.

@brb4903

5 ай бұрын

what r u talking about dude.. France is the nuclear power of the world

@sheesh7719

5 ай бұрын

WRONG!

@Desperado070

5 ай бұрын

Dude wake up some stranger tells you A and you believe in A like you've never heard anything else... meeeh!

@eile4219

5 ай бұрын

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.

@brb4903

5 ай бұрын

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

Here in the UK we are told that the EU is booming and that the UK is the only sick man because we bolted.

@atilla4352

6 ай бұрын

2:05 where do you see our uk?

@andrewtaylor6737

6 ай бұрын

🤣🤣 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!

@nettcologne9186

6 ай бұрын

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

@Cofarl

6 ай бұрын

​@@andrewtaylor6737it isn't bankrupt... That's nonsense.

@garyb455

6 ай бұрын

@@Cofarl but it is look at the debt levels

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.

Nicely done ✔️

Great video!

Only big software firm from Europe is SAP

@palmshoot

5 ай бұрын

And even then, Microsoft considered buying them.

Please do an analysis on Australia's economy, would be very interesting.

@lifeofdiggy6490

6 ай бұрын

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.

@Plemmonsscott

6 ай бұрын

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.

@Nicholas.Durante

6 ай бұрын

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..).

@GreggVElrod

6 ай бұрын

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.

@Nicholas.Durante

6 ай бұрын

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

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.

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?

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.

Might be wrong but I feel like your graph on % of word GDP at 0:32 is inaccurate

@georgealiatimis7230

3 ай бұрын

It's at PPP, not nominal

Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank as subscriber 😊

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.

@brb4903

5 ай бұрын

" 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?

@nancypatterson2215

5 ай бұрын

@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.

@brb4903

5 ай бұрын

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

@LyricsQuest

Ай бұрын

@@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.

@casteretpollux

28 күн бұрын

No mention of Europe/ the UK's responsibility for making war on the Middle East.

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.

10:27 can we get a citation for that?

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

@andrewtaylor6737

6 ай бұрын

Not sad, its days are numbered & not before time!

@lostintashkent

6 ай бұрын

but when you are in US you don't feel a huge difference, do you?

@joaquimbarbosa896

5 ай бұрын

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

@dzcav3

5 ай бұрын

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.

@tabernathy0428

5 ай бұрын

​@@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.

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.

Please do an analysis on Portugal's economy, would be incredibly interesting.

@pollutingpenguin2146

6 ай бұрын

Interesting for who? The two Portuguese who watch this channel?

@andrewtaylor6737

6 ай бұрын

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!!

@baratoplata7050

6 ай бұрын

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

@andrewtaylor6737

6 ай бұрын

@@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 🤞

@ricardosousa11

6 ай бұрын

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

And no Croatia on the opening EU map? Croatia has been an EU member since 2013. Inform yourself before posting something!

@saellenx3528

5 ай бұрын

He probably doesn't even know where is Croatia on World Map. Most of these You Tubers are quite stupid.

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.

Great video. thanks. I'll use it as a base for my economics 101 class next week. In Africa.

You think the EURO has fallen? What about sterling?

@michaellucas4873

6 ай бұрын

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%.

@brb4903

5 ай бұрын

He said he wanna move from Chelsea

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.

@freemanol

6 ай бұрын

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

@majormoolah5056

6 ай бұрын

Well said!

@acp2101

6 ай бұрын

Europe robs Peter to pay Paul. And it pays Peter with cheap or stolen resources from "the jungle"

@rheung3

6 ай бұрын

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”.

@pollutingpenguin2146

6 ай бұрын

@@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.

O dear, a pre-Brexit map of The E.U.🧐

0:33 why does the graph show Euope’s share of the world economy to be larger than the US? America is larger right?

@Farhankhan_the1

6 ай бұрын

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.

@480darkshadow

6 ай бұрын

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.

@seanthe100

6 ай бұрын

​@@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

@pulse4503

4 ай бұрын

Yes it is bigger USA 26 trillions EU 23 ( if we include the UK)

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.

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.

@dzcav3

5 ай бұрын

1978, the good old days of the Carter administration - double digit inflation, interest rates, and unemployment.

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.

@chrisdickson9965

6 ай бұрын

Points well made.

@Nick-ss9se

5 ай бұрын

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

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.

Change will be followed by change....

US LNG is very expensive compared with Russian gas supply eliminated by US sabotage.

@vmedhe2

6 күн бұрын

I had no Idea the Russian Invasion of Ukraine was sabotage lol.

Beaurocracy is Europe's main problem.

Pretend Britain never left the EU would be 19 trillion. Thats still insane how they've gone from parity to America significantly larger.

@tylerclayton6081

5 ай бұрын

US 2023 GDP is $27 Trillion. The EU+ UK is still larger than China’s $17.7 Trillion though

Fell behind? When since WWII has the EU ever been ahead of the US?

@KDH-br6hy

5 ай бұрын

They have before the housing crisis

I’m still convinced this guy is deepfaked ai

Its interesting to see how a continent can't compete against a country ;)

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 inflation in the US and the EU was caused significantly by the increase of money supply. Strange you haven’t mentioned it.

@lisaroberts8556

2 ай бұрын

Add too much Green Energy Garbage to that list.

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.

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.

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.

Europe wants the cake and eat it too.

Portugal is a fiscal paradise, resembling CUBA.

Good news 🎉

Europe naver be same again hard to believe i cant belive myself its not possible

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.

@jcliu

4 ай бұрын

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.

This does not mention how Brexit is also a contributing factor in eu decline.

@s9ka972

4 ай бұрын

Less . Europe needs more manpower not the refugee one but skilled manpower.

Europe naver be same again

1€ = 1$ in 2001 (launch)

Migration is the driving force to the down fall like it or not

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.

@stephenconrathe7197

6 ай бұрын

What part of the public sector is a luxury? Schools, hospitals, social care, health?

@dzcav3

5 ай бұрын

@@stephenconrathe7197 Study Margaret Thatcher's reforms to see how cutting the public sector revitalizes an economy.

@person.X.

4 ай бұрын

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.

@chairmakerPete

4 ай бұрын

@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.

@chairmakerPete

4 ай бұрын

@stephenconrathe7197 all of it. Nothing outside defence and policing that couldn't be better provided by others.

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.

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.🙀

at least rents are at all time highs 😂

Age is changing and europe could not catch it, and we all know what happens to outdated power

Why is it unfair when

I’d rather keep our longer holidays, lifestyle thank you. Don’t need the American-style growth.

@wafercrackerjack880

6 ай бұрын

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.

@aleph8888

5 ай бұрын

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”.

@ZETAPLUSA70

4 ай бұрын

​​​​@@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.

@chanceriordan

3 ай бұрын

Enjoy those longer holidays while you can. At the rate Europe is falling behind, those benefits won't be available in the years ahead.

@chickenfishhybrid44

Ай бұрын

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.

Was stimmt nicht mit der Werbung auf KZread? 40 Sekunden, 35 Sekunden. 50 Sekunden innerhalb weniger Minuten. Unerträglich!

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.

😢😢😢

I sware to my own prayer its cant be possible i know what im saying but reality is different its for everybody anyway

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.

@wokelefty

6 ай бұрын

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.

@dzcav3

5 ай бұрын

Because socialism worked so well in the USSR, Cuba, Venezuela, and everywhere else it has been tried.

@dujardinmtl

5 ай бұрын

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, US £ against €

@pietpiraat1353

6 ай бұрын

£ should give the pound sign ;-(

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.

@MarcusLangbart

4 ай бұрын

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.

@kamaljeetsingh1467

4 ай бұрын

@@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

@chickenfishhybrid44

Ай бұрын

​@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.

@kamaljeetsingh1467

Ай бұрын

@@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 ✌️

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.

@zuzanazuscinova5209

6 ай бұрын

Exactly. Who's gonna learn German.

*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.

Another good reason for Brexit.

Ah yes comparing one country to an enite continent. Sounds pretty reasonable

America's plan successful

If you talk about economics, talk about economics and factual data ..... not politics and not populist assumptions.

I think the EU is failing

AsVictoria Nuland sais: '**** the EU'!

But Brexit

us economy boomed? oh come on!!

@KDH-br6hy

5 ай бұрын

Yes

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.

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,

Has it though. Look at American debt. Its trillions and rising. Ridiculous amounts of debt.

@inbb510

5 ай бұрын

Italy, France, Greece and Spain have similar above 100% debt to gdp ratios.

@brb4903

5 ай бұрын

wow Greece, what an economic powerhouse..@@inbb510

GDP: Grossly Distorted Propaganda What is NDP, Net Domestic Product? Where is the data on the annual depreciation of automobiles since Sputnik? There were 200,000,000 motor vehicles in the US in 1994. Where did the depreciation go? Economists have not noticed.

@chickenfishhybrid44

Ай бұрын

It's still comparing the same metric to each other even if your don't like GDP.

@psikeyhackr6914

Ай бұрын

@@chickenfishhybrid44 You have a metric on the depreciation of durable consumer goods? There is not even a variable for that in the Net Domestic Product equation. You really must stop being content with shallow thinking.

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

@nettcologne9186

6 ай бұрын

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

6 ай бұрын

So why is the UK economy doing worse than the eu?

@garyb455

6 ай бұрын

@@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 !

@joaquimbarbosa896

5 ай бұрын

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

@hughjcawk726

5 ай бұрын

"Ireland is booming" tell that to the people that actually live here

*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.

@TAS_CNX

6 ай бұрын

What data do you have to support these claims?

@Alex38369

5 ай бұрын

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.

@inbb510

5 ай бұрын

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.

@piccalillipit9211

5 ай бұрын

@@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

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

@ridethelakes

6 ай бұрын

US stocks are doing well, the S&P 500 is up 18% this year.

Schadenfreude..

The most virtuous race, sold by politicians to small hats

Americans are leaving the US for europe ...

@lisaroberts8556

2 ай бұрын

Which ones! Liberals?

@sachaketchummaitredegalar

2 ай бұрын

And how many Europeans are leaving Europe for the US ?

@lisaroberts8556

2 ай бұрын

@@sachaketchummaitredegalar I’ve been to Florida. There are lots of Europeans down there. More than at anytime before in recent memory.

@Desperado070

2 ай бұрын

@@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

@JM-gj7de

Ай бұрын

Lol...no.

I am italian and i think the future is India Indonesia Philippines Vietnam Nigeria

@qwertyqwerty-zi6dr

5 ай бұрын

😂😂

@brb4903

5 ай бұрын

yes, go move there

@KDH-br6hy

5 ай бұрын

​@@brb4903y it's not there yet

West Europe is losing their Dominance 😂😂

@palmshoot

5 ай бұрын

Eastern Europe never had it.

The 5g adoption rate of the usa seems optimistically high. Where did you get that number?

@raycomeau6866

5 ай бұрын

According to GSMA Intelligence, in Q4 2022, 5G uptake in Europe accounted for 7.4 % of total mobile connections.. Across European countries, 5G adoption is at most 21% (Switzerland), compared to 43.1% in the United States, 42.4% in South Korea, China (36.3%), Australia (30.1%), and Japan (28.5%).

Maybe the US wanted the EU to stay behind.

This is ain't a competition in my book, so I don't care, and I am "European"

@pulse4503

4 ай бұрын

yet nice video

@pulse4503

4 ай бұрын

I like the US too, so....good for 'em

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.

*YEAH BUT...* who wants to live in America...??? Id much rather live in a stagnating Europe than a booming America where it costs me $150,000 to get my inevitable gun shot wound treated..!

@musqul8566

6 ай бұрын

The whole world wants to be in America including Europeans. Stop consoling yourself with delusions and look at immigration stats. Only Switzerland and Australia have positive immigration with America.

@fernandoamy8278

5 ай бұрын

That's your choice, but I understand that, thanks to your massive immigration problem, crime is skyrocketing in Europe, too. The difference is that, rather than using guns, Europeans prefer to stab and hack at each other. Also, the problem with stagnation is that its negative effects accumulate over time. You might be willing to live with it for now, but it will be tougher and tougher to live with it in the future.

@aleph8888

5 ай бұрын

Most gunshot wounds in the US are suffered by people who live in the most economically deprived areas of US cities. How do they afford healthcare?

@chickenfishhybrid44

Ай бұрын

While gun violence in the US is obviously much higher than Europe, if you're not involved in criminal activity especially, being worried about being shot is like worrying about being struck by lightning. Very far from "inevitable". Medical costs in the US are too high, but again Europeans and others hear stories of the worst cases and assume it's a norm. Generally speaking health insurances in the US have "have max out of pocket" amounts. They vary in amount but they're a whole lot less than $150k. Say something like $5,000, meaning the most you'll have to pay for yourself in a given year is that amount.

@chickenfishhybrid44

Ай бұрын

​@@aleph8888do you guys actually think that everyone is expected to pay cash for Healthcare in the US? Contrary to popular belief there is government funded health insurance in the US, it's called Medicaid. Depending on your family size and household income you may qualify for Medicaid in which you generally pay absolutely nothing out if pocket for Healthcare. Mediciad I covers something like 80 million people I believe.

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.

@KDH-br6hy

5 ай бұрын

No there is alot of reasons and eu Exploits to

@teamtoken

5 ай бұрын

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.

@logician3641

4 ай бұрын

@@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.

@chanceriordan

3 ай бұрын

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.

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.

@Solitas777

5 ай бұрын

Germanys green policies would work....in California! There's no sun or wind in Germany. Seriously wtf were they thinking.

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.

@seanthe100

6 ай бұрын

How far have the standard of livings fall? Consider for 2023 the US ranked happier than every major country in Europe

@Solitas777

5 ай бұрын

We got problems no doubt, but we do have many luxuries Europeans don't.

@philipberthiaume2314

5 ай бұрын

@@Solitas777 Thanks and that might be very well true. But at a huge cost to quality of life, is my point.

@TheMarcuslindberg

5 ай бұрын

​@@Solitas777High end luxury for the top 10% ? Fancy restaurants and Holiday destinations?

@aleph8888

5 ай бұрын

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.

This is exactly why numbers and statistics are so misleading. Almost every American who has lived in Europe for a while knows what I'm talking about. Compared to the EU, the USA has a much bigger problem that it does not want to admit and realize: outside of finance, the IT sector, the arms industry and agricultural products, it is not competitive on world markets. Unlike in the past when the US was number one and unlike Europe today. The ace up its sleeve is still Wall Street, if its global influence ends, so will American hegemony. The US import deficit is one of the main reasons why real wages in the US have been practically static for almost two decades.

@ChristiaanHW

4 ай бұрын

these videos only look at raw numbers. if you take away the huge companies in the US (like Facebook, and Google) those numbers change a lot. and those companies only got so big because they are the law in the US, they can virtually do whatever they want. that's why those companies aren't located in Europe, in Europe they couldn't abuse their workers in the same way they do in the US. also in rather live in a country with the worst GDP of the world while still having a good quality of live than living on skid row in the "mighty and rich" USA. being the richest country doesn't mean anything if most of your citizens are worst of because of those high value companies.