A collapse has began!!! Rich people know this.... they are hedging... through hedge funds. It costs them about 6% a year to do this. Those that aren't rich are not hedge and are at great risk in the bubble of all bubbles with the debt at all time highs. The increasing prices have impacted my plan to retire at 62, The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
We are debt slaves. We are paying debts from borrowing done in our names, without our consent for the most part. But rather than get a bill in the mail, the interest is built into every good and service we buy. We are the embodiment of debt because the cost is paid by the very lifeblood of the consumer, earned over a strictly limited time called a life. We live on a prison planet.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $110k in value stocks and digital assets, Up to 400k so far and pretty sure I'm ready for whatever comes.
@@ZacharyBelli The usa is paying out of self interest, propagatingbwar across the world, everywhere. The us wanted to play the global police and it will fall, like rome, france or britain.
I'm an American who lived in Europe several years. Most of the Europeans I knew did not believe in investing in stocks, mutual funds, or other "market based" products. They simply put their money into banks or insurance products. This lack of capital makes it hard for European countries to compete with well capitalized US companies. Europeans are savers, while Americans are investors.
Regulations can be good. For example recycleable consumer electronics means the EU would have better access to some of the resources that are used within those. Think of batteries and lithium for example.
@@cyrusol Some of nearly everything is good, but Europe has become stagnant and is falling farther behind both China and the US nearly every year for the past 3 decades. If this continues the EU will become a continent sized retirement home with a lot of museums.
@@jai-kk5uu US companies own over 75+% of the worldwide cloud and the top ten public AI companies are all American. The US is way too far ahead in the tech sector for the EU to ever catch up. Did I mention that the US is also the worlds biggest oil producer now? There is also currently a renaissance in nuclear energy to help power data centers. Good luck
Well it kinda does the opposite. Having a High HDI, good life quality, lower crime stats, less hate. But indeed Less economic growth also. Its really a choice every country must make.
@@azumishimizu1880, None of those things are related to the virtue signaling of Europe in a positive way, the problem is no one want to adjust spending (and I know, because it is political suicide), but long ago that Grow can't cover that deficit.
@@AlessandroRodriguez of course they are related. When people are happy and comfortable and don't have any real worries, they start worrying about irrelevant things. To this day, the happiness of people in Europe is way above the US. People simply have better lives
Economic growth is worthless if it does not result in higher purchasing power and quality of life for your citizens. USA is a shithole for 55% of their population and a hellhole for the poorest 25% in spite of their GDP while Europe feels like paradise in comparison. The reverse being true for the top 20% wealthiest is not relevant in any capacity since top 10% to 1% can have it just as good anywhere else in the effing world as well lol
😂😂😂 Hawaii the poorest state in the US, I wonder what it's they information source, because Mississippi is the poorest state and it's been the poorest for decades
@@stussymishka Mississippi GDP per capita is $39,500, UK GDP per capita is $49,000, and France GDP per capita is $44,500, all are USD, which one is higher?
Not just EVs. Europe missed the bus on just about every major tech breakthrough in the last 30 years. Who is the Apple, Google, Netflix, Microsoft, or Amazon of Europe?
The EV is only a fantasy bus to the deluded. The reality is it may be 10 years or 50. But the EV is coming and once the tech gets there it will totally displace petrol/diesel. The underlying physics is undeniable and can't be overcome. Base efficiency is at least double that of gas car. Once the engineering challenges are overcome the EV is inevitable. The laws of the thermodynamics mean the petrol car can't compete with the EV
@@blongshanks77 who is the apple, google, or microsoft of Japan. Of China, of Brazil, of Canada, of Australia? That the EU repeatedly gets compared against U.S. and China as its peers, and also told for years about imminent collapse just looks like insecurity or wishful thinking. In any case, EU welcomes Amazon, apple, etc. They stimulate the EU economy, and they pay taxes to operate in the eu market.
@@bobbybrown1258 "Once the engineering challenges are overcome, X technology will dominate" is something that you can say about almost anything, say fusion reactors. It means absolutely nothing. If anything, it means that subsidies or anti-ICE regulations are indeed not neccessary in the first place and the EU regulations are completely wrong.
@@blongshanks77 Google, Apple, Microsoft or Netdlix are not tech breakthroughs, they are large internet monopolies consisting of overpriced brand and a cluster of intellectual property. They provide monopoly-like rents to their owners, but they are not what the real economy is. In the real economy, self employed people make sure real people are housed and fed. Internet monopolies don't do that, they are glorified advertising companies. Europe, however, did miss out on real tech breakthroughs, but these are called TCP/IP, satellite navigation, horizontal drilling etc.
Now being without a job for 2 years in the happiest country in the world. There is something wrong. When I was 23-27 years old I could get a job in a week. Now 2 years..
You can still get a job (probably) people just have too high standards and rather not do anything. Take a shitty job and apply for something else during.
@@MsFallenPrime Would people who are professionals in some area do something like cleaning or other entry level job. I have done those, now I can't even get those. I'm professonal metal metal worker, pipe assembly worker and ready to work even abroad, I speak 3 different language. But no job. Always the same story just look at internet
@@lauriperamaki5354 for those kinds of jobs the nearest country with a high demand is probably Russia. There needs to be an actual growing industry and production.
@@lauriperamaki5354Do you want a mechanical engineer to do house cleaning 🧹🧹 ?? That would be weird, unless you have some innovative ways or equipments then it's unique and worthwhile.
@@lauriperamaki5354 Due to Europe buying less gas from Russia, buying more gas from USA, more expensive. Some metal manufacturers are relocating to USA. When war in Ukraine will end and EU will buy Russian gas again, then you will have same opportunity as past. But until then try different job, you can look in same industry-metal manufacturing. Maybe CNC mechanic.
The problem EU has is that members are fighting over existing GDP through regulations and political games, instead of actually embracing economic freedom so that GDP could grow where the people are the most innovative and hardest working
Imo it's not a "problem" as you say. Economic growth is worthless if it does not result in higher purchasing power and quality of life for your citizens. USA is a shithole for 55% of their population and a hellhole for the poorest 25% in spite of their GDP while Europe feels like paradise in comparison. The reverse being true for the top 20% wealthiest is not relevant in any capacity since top 10% to 1% can have it just as good anywhere else in the effing world as well lol
I am a relatively young European, before the lockdown I had ownership in a business. Lockdown made us close. multinational company took our customers. Been paying taxes all my life, all of it goes to old people who bought their house for a handshake and three potatoes in 1953 and of course welfare for all these doctors and engineers that keep migrating here but never seems to get a job.
In other terms: you missed the opportunity to pivot your business model to a one that don’t relay on physical space and constant flow of people physically being there. Now you sort of blame others for not being productive enough, in order to fulfill this shift to maybe an online business. 🤔
Boomers get a bad rap, they will leave twice as much inheritance to the next generation as they were left, the boomers were workers with a life balance, the next generation are a bunch of skivers with a life/ work balance, put work first and get on with it or it will get worse and reduce government by half!?!
Yeah ok sure it's my fault, guess I'll not hire more people. It's honestly great since this shows what European business must deal with. To many people expect everything for free here, everything is taxed. Europe will *NEVER* become profitable again, never.
The train left the station a long time ago and you are waking up now. It's too late and by doing too little doesn't change much. Europe would be poor in less than 30 years from now. There are no high end industries left in Europe any more. We can't even manufacture EVs without Chinese help. No invitation, once been the hub and birth place of the industrial revolution. All of that because of poor political decisions 10-20 years back in the time. Just in UK people frizz to death because they don't afford to pay for gas. It's crazy! In Scandinavia you would not see beggars , but now you see them everywhere in front of stores, shopping malls etc. Congratulations to our political elites! You make Europe poor again!
The problem is that Europe is a bunch of nations manipulating the Union for their own benefit, it is a divided house ! European Federation done right ( Swiss model ) would solve most of the problems, except for the language
EU federation is the most straight way to hell! EU federation equals brutal Brussels born fascism! No thanks! Some clever men, back in the past, when we had clever men and real leaders have said EUROPA OF NATIONS! EU decline started when the Commission was introduced in current form and will not stop until the Commission is removed from the European institutional structure (or at least limited)! We dont need "more Europe" as this "approach" is one of the major drawbacks of "Union" and real emergency brake for the economic development of the Union!
I totally agree 👍 wise words . Language barriers won't be a problem in the near future, almost everyone speaks English and technology helps in real time translation
You guys miss something very important while talking federation and Swiss - they are relatively compact ethnic group with relatively similar history and traditions. Same apply to the other working federations like US and Russia. 27 different nations with different path trough the history and different understandings - the language is the last problem!
The Draghi plan is madness. He has forgotten the fact that has already caused the collapse of Yugoslavia. 1. Sharing money at 5% of GDP would create an opaque mega-bureaucracy that is never reduced in a crisis. 2. Therefore, most or a large part of the money goes to the salaries of the dual civil service (European and national) and the related agencies, which are ever growing and are not penalised for failure. 3. All of this is triggering an inflationary spiral, raising taxes and making the state poorer and poorer and poorer. This was the case in the Hasburg Monarchy as well as in ex Yugoslavia - it ends up in a mega war. The EU is dead in the bureaucratic concept, it lives only for comfortable and highly paid jobs. EU bureaucrats are simply not competent to develop the economy because they live in golden illusions.
The USSR collapsed primarily due to economic stagnation, systemic inefficiencies, nationalist movements, and a loss of legitimacy in its centralized government. The EU would face a set of triggers, such as prolonged economic crises, extreme political fragmentation, or a significant shift in public opinion against integration causing it to collapse!
Dragi is like that coach who tries to bring all team-mates together knowing fully well that these team-mates will place their self-interest above the team's interest. 😊.
Europe: "We need to develop more home-grown entrepreneurial talent! USA: "You Europeans need to develop more home-grown entrepreneurial talent so they can come start US companies!"
Judging by the number of migrants coming in do you honestly feel that young people are safe to think yeah let me raise children in this social environment..
EU is a miniature greece. US vacation home, Parties/nations that won't coordinate even if death is facing them. Too much focus on renewables. Debt, Debt, Debt.
The thing I don`t like about the American system is the constant debt. You need to go to college, cover healthcare, get a loan, etc. The whole system is designed to live in debt from the day you are born to the day you die. Once you account for debt, income inequality, purchasing power and working hours/days the gulf between Europe and America is not that high. The quality of life in Europe is also generally better.
Debt is not a problem any more than starting a business which fails is a problem. That these concepts seem to be difficult for people to understand is one reason why risk taking is not happening as much, and therefore Europe's lack of a presence in new tech.
Debt is a feature, not a bug. It provides a constant stream of desperate people willing to do anything for money. Technically, you aren't oppressing people directly so they have nothing to revolt against, they don't see a master controlling them. You just create a system that creates misery and then they seemingly _decide_ to find a master themselves, and they can only blame themselves. Just look at the most recent happiness report. People under 30 in US are way below many poor third world countries while the majority of Europe is at the top. The statistically higher numbers are bought by people simply having worse lives. A country for the rich, not for the actual citizens in general
@@NJ-wb1cz So I looked up the happiness report. Costa Rica would generally be considered a third world country and it is ranked at number 12. It is above countries like Austria, Canada, Belgium and Germany. Incidentally, the US is also above Germany, France, Spain, Italy and Japan. Maybe the reason the US isn't higher is because of the need of Americans to feel like it all sucks, while pastures are greener elsewhere. I don't think a measure of a country's success or whether people are being taken advantage of should be notions of happiness, especially through a convoluted calculation from survey results. Moreover, I don't think the point of a person's life or the measure of its quality is their own happiness, because I'm not a hedonist.
@@Carthodon or maybe the reason is people in some countries are more miserable than in others due to the life they have, and that owning stuff and buying distractions doesn't buy happiness and contentment. Costa Rica also has a much higher life expectancy than US as well btw
@@NJ-wb1cz So does Japan and it is below the US. Can't help but notice that your explanation involves the US being in some way deficient, and doesn't address in what way it is superior given I listed countries you would likely have considered better than the US like Germany which was the other half of the argument. The UAE happens to be right below Costa Rica, above all the other countries I listed, and I certainly would not want to live there. Maybe stop seeing the society that you live in as being designed to take advantage of you and oh how much better things were if people lived somewhere else. Israel by the way was number 5, a country where bomb shelters are everywhere and people regularly use them, you are forced to join the military for a few years and its very expensive. Somehow they manage to be happier than you seem to be.
It’s pretty simple, the USA generally has way freer markets, especially in tech which had decades of complete freedom. The eu, well….they had a party on producing more regulations than any other jurisdiction on earth
Not realizing, we're already in that situation. Companies already stomp on workers even here in Europe and Germany along with France were bullying smaller, poorer nations on the green front. Really the only reason, why Poland and Hungary got away with doing the same to the rest of the EU is, that nobody expected them to do so.
Josh Faulks is spot on with this. Unfortunately, the UK is intent on inflicting expensive energy and declining living standards just as devastating as the Europeans. God help us.
Don't tell me... They are planning to make... new jobs? Like , you know, jobs that actually matter for the economy? And, like, they are planning to pay people working these jobs? What sorcery is this?
Demographic collapse also holds back investment in Europe. Solar energy requires sunshine which Europe doesn't have in sufficient quantity. Wind turbines require wind. Europe isn't windy enough.
The reason for the European decline would be the aging population. Migration would not help because most of immigrants are low skilled workers which puts even more burden to the social safety system. The only way would have been to increase the productivity with technical innovation, but unfortunately EU has regulated itself to prevent innovation with absurd bureaucracy. Once the boomers are starting to retire in masses and the governments realises that they don’t have enough money to pay the pensions it’s gonna be chaos. Only way of survival would be countries breaking out from EU behemoth and deregulate themselves to encourage innovation and competition. Otherwise EU would become the biggest living museum in the world literally with oldest population and old technology
@sajithdilshan Only countries that have universal pensions will have that problem. Some smart EU countries are changing pension model to private pension, so it won't matter that there will be more pensioners than workers. However it still don't fix other health care benefits that are guaranteed by state. Old sick people will have to live with less benefits. Or invest in health care to make it more productive.
@@juriscervenaks8953I don’t think that would matter, the biggest economy in Europe, namely Germany still has the government pension scheme and there is no reform in sight. When German economy is going to have an impact with the rising pension cost and reducing labour market to pay that it’s gonna send ripples across the whole EU
Kind of ironic, that the two countries most known for "eco friendly bike lanes" namely the Netherlands and Denmark, have some of the best economies, not just in Europe but the world.
Small countries im the middle of Europe. The Netherlands has been also a tax heaven for companies for 50 years. It's easy to be successful with these conditions. As a matter of fact there is no poor small country in the same geographical area.
as someone who lives in Denmark, the reasons behind are... >low tax and easy bureaucracy for businesses >very easy to hire and fire employees >government run on fiscal surplus, so no risk of inflation or printing money (Denmark case ofc) >its home of big corporations that are almost a monopoly in their market >no minimum wage (it helps small companies and workers to negotiate without delusional values imposed by government) In others words.... Denmark just built their system based on real economy and not in debt economy.
The problem in EU are costs, energy costs being second after regulatory costs and labour taxes. Most companies do not invest in research and development of products because they can't afford it. Had Amazon been an EU company it would still be an online bookshop. In EU "research" means fundamental research, not product development.
My problem with this is the time-line. It's almost 2025 and there are no signs of starting the implementation. If we talk about it for the next 3 years then nothing will work.
I hope that Europe will continue its socialist policies so that socialists in the rest of the world will see that even the rich continent has become poor thanks to this philosophy.
Dude this is the SECOND video where you’ve said Hawaii is the poorest state. It’s one of the richest. Mississippi is the poorest state by just about every metric
@@lughaidhmoutia3589 I think you’re right, but even in that case according to the BEA 2022 data California would be the poorest and Hawaii second poorest. ChatGPT however believes Hawaii is the poorest and as someone else mentioned above, these scripts are likely AI-generated.
As an experienced engineer, I'm actually thinking about "brain-draining" my country and move to the US. I could actually be debt free in a few years, compared to the salary I have in the EU... 😅
What debt you have ? home loan car loans? if it is money you like the usa will give you especially been a engineer the rest idk. The usa economy is doing well, still americans are always complaining online.
The economic decline of the European economy is actually inevitable for many reasons. High taxes, low innovation rate, decades of socialist policies and leftist-progressive goverments which enforce illegal migration have turned Europe into a sick man.
Which have led to Europeans being substantially healthier and happier than the US with a better society overall and lower crime. But what about giant trucks tho? surely giant trucks will make people happy.
@@Nostr00Good point. The US has a much higher rate of fatal workplace accidents, fewer workers' rights, and a higher burden of disease from pollution, but apparently this is "socialism" and eroding one's health and wasting one's life so that rich people can profit off of it and number go up makes so much more sense
@@IshmaelPriceAre these the same Europeans with depleted or non existent defense industries? The same europeans the US has spent nearly a century spending billions a year to protect? The same Europeans who now beg for US protection because they can’t possibly balance their unsustainable welfare states while also defending their own interests and nation? Nice try
While US is the first place to develop AI the EU is the first place legislate regulations agianst AI. This is why you have no European UA-cam or Facebook.
Anti competitive weaponization of regulations has damaged Europe while where we urgently need reform on integration, housing, health, crime and rehabilitation have been disappointingly lacking!
There is no investment in R&D because Europe has too many monopolies. When you don’t have to compete, you don’t need innovation. Centralized economies always produce monopolies.
@stacyscott5104 It is because too much bureaucracy, small companies can't compete. But it is designed that way, big company lobby work good on politician decisions.
Individual European countries just have too many ministries of innovation, but Draghi has a solution. 3 special economic zones for the island members, 7 more progressive tax reforms for the Eastern European members, 9 subsidies for the stranded intermittent solar and wind farms doomed to die. One ministry of innovation for Draghi on his committee chairmanship. In the land of Brussels where the innovations lie. One regulatory framework to rule them all, one huge new tax to fund them all, one bureaucracy to bring them all to the table and in the red tape bind them. In the land of Brussels where the innovations lie. -J R R Draghi
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with a financial consultant regulated by the SEC, and started small, but eventually accumulated over $800,000.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
My CFA is Stacy Lynn Staples, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@juriscervenaks8953 It had nothing to do with common good of ordinary people. In my opinion it was all about looking better and stronger outside. Perhaps some political goals of politicians to realize their ideas.
The only thing kept EU working was the new members with high growth. So if they can’t expand EU quick enough to Ukraine, Gerogia, Moldova and Balkans nothing will help.
For scientific inovation it is better not to be centralised. The more separate people decide over grants, the more diverse the research end up. And the comment on biodegradable fuel is absolutely correct.
Portugal Spain and Ireland are actually in very good financial shape today, having recently surpassed France by debt sustainability. So even if I don't like him, we can say the policies enacted have been successful
Dragi report was quite breaking compared to usual monotonous tone of the EU. I think its role was to start a difficult conversation rather than offer solutions.
Get this, in banking, if you want to establish a bank account as an arms manufacturer or reseller, you're considered a high risk client and are likely to deny any service. And the banks go way beyond regulation here. Another problem is, how and who the banks are willing to lend money. I have a friend, who had a cat café a while back. She applied for a business loan. Sixty papers in and eight visits to the bank later, she was refused, citing her business was too risky... so, she asked for a consumer loan and she was approved in thirty minutes. We need regulation, that would force onto the banks structure of loans given, to steer money into business venture. Not personal consumption! That should be covered by wages, not debt.
@looseycanon They gave consumer loan because laws are different for consumer and business loans. When consumer loan need to be paid off 100%, but business loan you can write off if you go bust, and bank loses that money (not gained returns). While consumer loan you can't write off. Bank is not problem, laws are.
@@juriscervenaks8953 banks are. This was for business, it should have been a business loan. And then there is another point to consider. The This friend of mine could use the loophole, because she was self employed entrepreneur. Company can't do that! How many small companies remain small instead of growing, because banks refuse to lend to them, because those can't be made consumer loans?!
Loved the video. I see the lack of technologies in my every day working on IT area of a big energy company from Belgium. Moved here 2 years ago and didn't take long to realize how the companies are not innovating. The gross salary is 1/3 of what I would earn in US and I have almost 50% of earning taxes. Besides of consuming taxes. Not even buy a car is easy because of Low Emissions Zones.
@@Flaggyt If he works in IT he's going to have a better life in the US and depending with luck can even retire early if he wishes a multimillionaire on stock options. That doesn't count on his salary which is again higher.
@@nightmark2120 nah you are confusing having more money with having a better life. That is true if money is the only thing you care about. Even if I was 5 times a millionaire I wouldn't want to live in that dystopian society with people only caring about themselves and their bank account.
@@Flaggyt well that's you the rest of the world is like that. and as this video shows eu cannot sustain this. You already live in that dystopian society in eu which is worst than the us anyway. only the old money gets rich and old well establish companies survives.
The EU has over regulations. That really needs to change. High taxes, have to come down. Big government, needs to become small. Capitalism needs to replace socialism. I think it’s a pipes dream that Europe can or will change. Poverty now stands at 22%. I think it will increase and take an other 30-40 years before change will happen.
Some in the UK attribute certain challenges to Brexit, but similar economic and political issues can also be seen across Europe. These problems are widely discussed, and in some cases, proposed solutions involve continuing with existing strategies, though at a faster pace.”
Nobody has ever discussed the big elephant in the room: what would happen if the US stops supporting Europe militarily? Some social services cuts would have to be made once the US military subsidies are gone. Are they ready for that? I doubt it.
@thehoneybadgerusmc Can you explain why EU needs bigger military, it don't have real threats. 1) Muammar Gaddafi stopped immigrant flow to EU but amoral USA didn't like it so they killed him, and gates are open. 2) Russian pipe was blown by USA, and Ukraine maidan was staged by CIA. Amoral USA military industrial complex need enemy to make money on arms. EU wants peace, except some countries with its own military industrial complex like France, messing in Africa, UK, maybe some smaller EU countries. 3) Russian population are in higher decline than EU, so they can't have full scale invasion in EU. Why ''crazy'' Putin would want to invade in EU anyway, what benefit for his regime or Russia? East Europe buffer was for protection from West Europe to not invade in Russia, because that is where in past Russia had invasions from. When people stop listening to fear mongering western media, then they would understand that Russia is defending from NATO expansion, not invading in Ukraine due to ''crazy'' Putin. NATO-amoral USA wants long range rockets in Ukraine, just like they installed them in Poland. Hope Trump will stop this USA military insanity.
@@juriscervenaks8953 Russia is a warmongering country that wants to conquer Europe. Putin has said so himself. He wants to re-establish Soviet influence. Yes the EU needs a larger army, to defend against Russia.
There is no such thing as a European army, instead there are several European armies in the plural. Every European country has its own army, which is financed by the tax revenues collected by those countries. In addition, each European country has the freedom to organize the country's army and national defense as they wish, which is why each European army is different (for example, Finland has the largest reserve in Europe, Sweden relies on a paid army and the French army is well organized).
@@danielmalinen6337 That’s fine and good. But the question remains the same, can the NATO countries in Europe do anything without the US? As a US Marine veteran, it doesn’t look that way on our end.
Yes. It is the back-lash of three centuries of colonisation, of the whole world outside Europe, by nine West (& central) countries - the Netherlands, UK, France, Belgium, Denmark,Spain, Portugal, Italy & Germany (retired from global colonisation following her defeat in WW I). The humongous loot (the only reason for their prosperity) that they indulged in, has tapered off after WW II.
A social welfare state is wonderful if you don't have children or retirees to support and lots of workers. Now there are no children, there are lots of retirees and dwindling workers. They had it good for a long time and never wanted to make the hard choices. They were warned time and time again to innovate and push for pro-growth policies. Merkel is the poster child for complancency, in her time she did nothing to prepare for a post Russian energy future, a decline of American open access to European goods, and a lack of capital improvement spending. Now a disaster is here.
I agree, but they are representatives. The sad truth is, that we wish for easier lives and seldom think outside that. Votes reflect this, why would politicians fight against it?
@@prouddegenerates9056 because in 5 - 10 yrs your countries will collapse you cannot sustain it anymore it only works their are more workers than retirees and an even bigger pool of children for the next workers to pay all of it. You're losing your tax base at the same time you're losing your industries because of regulation and taxation. Those easier lives you keep calling free like health care and pension are paid by younger people from good paying jobs you're losing both.
The alternatives are not faring better, in fact they do worse since they are just as destitute AND their children + retiree both are struggling more comparatively. Economic numbers in USA, Canada and Australia (not UK post brexit, mind you) might be good but they gloss over a much worse quality of life and purchasing power for the 60% lower wages than anything we have in EU. A big GDP is worse than useless if you can't even provide the basics for the vast majority of your populations.
7:10 I was long time wondering how is it possible that someone can still call himself a master's degree engineer in some field, when he last earned his degree decades ago. University diplomas should come with an expiration date and re-certification policy every X years, or mandaotry requirement to prove that you worked in the field with some presentable results. At least for STEM fields.
@@marcoac-sx6lq Yes, technically right, but the literal translation into English is clunky and long and would not be understandable by an English audience. So most heads of government get Prime Minister or Premier.
Europe , Western Europe , EU ,, They are the garden , The garden of the rich & powerful . They are going to be ETERNALLY RICH . Thats their leaders , The poor doesn't matter anyway .
Europe, in general, has always been slow to invest and get ahead of vulnerabilities because of cumbersome governmental bodies. Neglect of military spending, protection of security networks, and energy dependency on Russia. I still remember how slow Europe was to adopt the internet.
If you are going to have an investment lead system you run in to the issue if paying back the debt but with aging population. That will work as long as immigration stays high levels but if the public turn against immigration then you are stuck with massive debt and fewer and fewer people to pay for it.
At the same time, US lack of regulations harming citizens. Starting with high prices for healthcare, internet neutrality ban, lobbying in government by big corps, weak labour rights and so on. Jumping Elon Musk on Trumps rallies is a great example.
We are not the US were every Buisness makes Profit. Germany should still have what they have 100% Health Covering of there Population so that we dont have to pay the Doctor or the Dentis money for a hole or a golden Crown.
Learn about how energy prices are set across Europe. The majority of the time it is based on the price of electricity production from gas. Renewables are cheaper but the pricing system needs changing, which is being looked at in the UK.
@@David-bi6lf No, if we didn't have renewables, we wouldn't need gas. Gas is the source of power, that can be easily regulated (ie. can be easily and quickly turned on and off) to off set the times, when it doesn't shine enough or blow enough. Meanwhile, look at France, how their energy costs are lower, because they bet on nuclear energy.
@@looseycanon that may be so but its a bit late now as nuclear power stations take years to build. However it's not true that renewables have increased the price of electricity. It's the increased cost of gas for all countries and the link between gas and electricity pricing.
@@David-bi6lfif you think renewables are cheap then you are part of the problem I know, I work in energy. Renewables are extremely expensive. 0,25 euro to produce a kWh of renewables Meanwhile you can pull a kWh out of the Earth for 5-6 cent ready to use. So by EU accellerating green transistion, they will accellerate the downfall. Time to get out of EU, if you live there. I for one am not going to contribute to this insane policy. So I’m planning to retire, and then live of of my pension fund in protest to those idiots in EU
Seems like ignorance to me, people whos decisions led us here, they do not reflect on the fact they lost touch with reality, that their competence has run out, they still see themselves as best people for the job, their not, and the scarriest thing is that they do not recognize that
The basic problem is that the EU brought together economies of varying strengths under a common currency. Everyone should have known that this would not work.
BS. Just look at US, how diverse in terms of economic development their states are. You have Texas and Cali, both of which would be single digit rankings in international GDP comparisons, if they were to become independent nations, and then you have places like Alabama, Mississippi...
In Europe, it was decided to let the market price of energy free and float, while the price of energy moved to a new market-driven and dynamic pricing. The question is, why does the USA still insist that your energy prices are fixed and the government regulates the price of energy?
@jjk9o9 u know what's funny before you couldn't say eu is falling behind because you be called far right now when the idiots in Brussel say that it's OK eu has issues with its ears and being usa lap dog we do what benefits Americans not us
@@jjk9o9 The EU is not a country. So one [real] country does not do better than another country, the EU project covers all countries in red tape. As the video explains, this inhibits any economic growth.
In he us, consumer spending as percent of gdp is between 65 and 70 percent. In the EU it is 53 percent.. Start pushing up salaries, make interest rates deeply negative and institute capital exit controls. You might be surprised as to how fast the EU economy gets going again. But big plans by supposedly important people sound so much better. We have been here before in the EU with the Lisbon agenda over a decade ago. If one third of what draghi proposes gets executed I will be excited. I do love the section saying, we have to keep the talented people in the EU, hence allow their salaries to go 10X, but we cannot have more inequality.
Or you could just fake the job numbers per month and artificially raise them and send the euro to the moon and then quietly revise them months later. That's what the biden administration are masters of doing.
The new routine with maps (I am using mostly Google) is once again something of an achievement. I am thinking about bringing a set off EU-commission-voodoo-dolls on the market.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
A collapse has began!!! Rich people know this.... they are hedging... through hedge funds. It costs them about 6% a year to do this. Those that aren't rich are not hedge and are at great risk in the bubble of all bubbles with the debt at all time highs. The increasing prices have impacted my plan to retire at 62, The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
We are debt slaves. We are paying debts from borrowing done in our names, without our consent for the most part. But rather than get a bill in the mail, the interest is built into every good and service we buy. We are the embodiment of debt because the cost is paid by the very lifeblood of the consumer, earned over a strictly limited time called a life. We live on a prison planet.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $110k in value stocks and digital assets, Up to 400k so far and pretty sure I'm ready for whatever comes.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
You cannot solve a problem with the same mindset that created it.
Exactly. All these “solutions” seem about the same type of thinking as what is dragging them down to begin with. A faux solution.
Europe must think about its own people, don't be willing to be America's puppet
@@yudha_saputra cuz America totally isn’t going in to debt to defend an entire continent that can’t defend itself 🙃🙄
@@ZacharyBelli The usa is paying out of self interest, propagatingbwar across the world, everywhere.
The us wanted to play the global police and it will fall, like rome, france or britain.
"We love small businesses so much, we would like to keep them small forever"
The EU
"Who needs innovation when you have regulations"
Also the EU
TL;DR: European bueraucrats try to bueraucrat their way out of the effects of european bueraucracy
thanks
Paradoxically that's exactly how you reduce bureaucracy
Please write that up in a TPS report (google “TPS report” if you don’t know what that is)
@@3cosmo - Name one nation in history that was able to "reduce bureaucracy by using bureaucracy". I'll wait.
@@silverschmerz4261 Almost every reform of an organization is started thru a bureaucratic process.
I'm an American who lived in Europe several years. Most of the Europeans I knew did not believe in investing in stocks, mutual funds, or other "market based" products. They simply put their money into banks or insurance products. This lack of capital makes it hard for European countries to compete with well capitalized US companies. Europeans are savers, while Americans are investors.
When you want to have a technology party:
China - I'll bring the hardware
US - I'll bring the software
EU - I'll bring the regulations
To be fair we sort of need the regulations. The only thing is they should be vigilanty enforceable.
@@jai-kk5uu Regulations are like salt, just enough is best (Brussels is doing the equivalent of living on McDonalds french fries).
Regulations can be good.
For example recycleable consumer electronics means the EU would have better access to some of the resources that are used within those. Think of batteries and lithium for example.
@@cyrusol Some of nearly everything is good, but Europe has become stagnant and is falling farther behind both China and the US nearly every year for the past 3 decades. If this continues the EU will become a continent sized retirement home with a lot of museums.
@@jai-kk5uu US companies own over 75+% of the worldwide cloud and the top ten public AI companies are all American. The US is way too far ahead in the tech sector for the EU to ever catch up. Did I mention that the US is also the worlds biggest oil producer now? There is also currently a renaissance in nuclear energy to help power data centers. Good luck
This what Leftism gives you, Economic hardship
Europe need to say no to being taxed 60-70% of their net worth.
So it’s almost like the EU has finally realised that virtue signalling doesn’t equal economic growth or job creation? Who would have thought?!
Well it kinda does the opposite. Having a High HDI, good life quality, lower crime stats, less hate. But indeed Less economic growth also. Its really a choice every country must make.
@@azumishimizu1880, None of those things are related to the virtue signaling of Europe in a positive way, the problem is no one want to adjust spending (and I know, because it is political suicide), but long ago that Grow can't cover that deficit.
@@AlessandroRodriguez of course they are related. When people are happy and comfortable and don't have any real worries, they start worrying about irrelevant things.
To this day, the happiness of people in Europe is way above the US. People simply have better lives
Low crime 😂
Economic growth is worthless if it does not result in higher purchasing power and quality of life for your citizens.
USA is a shithole for 55% of their population and a hellhole for the poorest 25% in spite of their GDP while Europe feels like paradise in comparison.
The reverse being true for the top 20% wealthiest is not relevant in any capacity since top 10% to 1% can have it just as good anywhere else in the effing world as well lol
😂😂😂 Hawaii the poorest state in the US, I wonder what it's they information source, because Mississippi is the poorest state and it's been the poorest for decades
so much exactitude is above his pay grade
Isn't New York the poorest state with 150,000 homeless people? 😢😢😢
Recent climate disaster may affect recent stats and Mississippi has higher gdp per capita than France or the UK
@@stussymishka Mississippi GDP per capita is $39,500, UK GDP per capita is $49,000, and France GDP per capita is $44,500, all are USD, which one is higher?
@@brianliew5901 no California have more homeless than New York
The problem is not that Europe missed the bus on electric vehicles, the problem is that it invented that fantasy bus and imposed it on itself.
Not just EVs. Europe missed the bus on just about every major tech breakthrough in the last 30 years. Who is the Apple, Google, Netflix, Microsoft, or Amazon of Europe?
The EV is only a fantasy bus to the deluded. The reality is it may be 10 years or 50. But the EV is coming and once the tech gets there it will totally displace petrol/diesel.
The underlying physics is undeniable and can't be overcome. Base efficiency is at least double that of gas car. Once the engineering challenges are overcome the EV is inevitable.
The laws of the thermodynamics mean the petrol car can't compete with the EV
@@blongshanks77 who is the apple, google, or microsoft of Japan.
Of China, of Brazil, of Canada, of Australia?
That the EU repeatedly gets compared against U.S. and China as its peers, and also told for years about imminent collapse just looks like insecurity or wishful thinking.
In any case, EU welcomes Amazon, apple, etc. They stimulate the EU economy, and they pay taxes to operate in the eu market.
@@bobbybrown1258 "Once the engineering challenges are overcome, X technology will dominate" is something that you can say about almost anything, say fusion reactors. It means absolutely nothing.
If anything, it means that subsidies or anti-ICE regulations are indeed not neccessary in the first place and the EU regulations are completely wrong.
@@blongshanks77 Google, Apple, Microsoft or Netdlix are not tech breakthroughs, they are large internet monopolies consisting of overpriced brand and a cluster of intellectual property. They provide monopoly-like rents to their owners, but they are not what the real economy is.
In the real economy, self employed people make sure real people are housed and fed. Internet monopolies don't do that, they are glorified advertising companies.
Europe, however, did miss out on real tech breakthroughs, but these are called TCP/IP, satellite navigation, horizontal drilling etc.
Now being without a job for 2 years in the happiest country in the world. There is something wrong. When I was 23-27 years old I could get a job in a week. Now 2 years..
You can still get a job (probably) people just have too high standards and rather not do anything. Take a shitty job and apply for something else during.
@@MsFallenPrime Would people who are professionals in some area do something like cleaning or other entry level job. I have done those, now I can't even get those. I'm professonal metal metal worker, pipe assembly worker and ready to work even abroad, I speak 3 different language. But no job. Always the same story just look at internet
@@lauriperamaki5354 for those kinds of jobs the nearest country with a high demand is probably Russia. There needs to be an actual growing industry and production.
@@lauriperamaki5354Do you want a mechanical engineer to do house cleaning 🧹🧹 ?? That would be weird, unless you have some innovative ways or equipments then it's unique and worthwhile.
@@lauriperamaki5354 Due to Europe buying less gas from Russia, buying more gas from USA, more expensive. Some metal manufacturers are relocating to USA. When war in Ukraine will end and EU will buy Russian gas again, then you will have same opportunity as past. But until then try different job, you can look in same industry-metal manufacturing. Maybe CNC mechanic.
Somehow they want to fight the effects of an overreaching government with more government
Europe need to stop supporting the politicans in the EU.
The problem EU has is that members are fighting over existing GDP through regulations and political games, instead of actually embracing economic freedom so that GDP could grow where the people are the most innovative and hardest working
Funny thing is that the top 3 gdp per capita countries last year were ireland poland and Hungary..
Imo it's not a "problem" as you say.
Economic growth is worthless if it does not result in higher purchasing power and quality of life for your citizens.
USA is a shithole for 55% of their population and a hellhole for the poorest 25% in spite of their GDP while Europe feels like paradise in comparison.
The reverse being true for the top 20% wealthiest is not relevant in any capacity since top 10% to 1% can have it just as good anywhere else in the effing world as well lol
@@Micfri300All of them increase GDP because they are funded by German/French/Dutch money transfers.
@@WannabeShady90 nope.
All increased by increased domestic manufacturing.
TRUE
To hell with youtube shadowbanning and censorship
Well this didn't get censored
I am a relatively young European, before the lockdown I had ownership in a business. Lockdown made us close. multinational company took our customers. Been paying taxes all my life, all of it goes to old people who bought their house for a handshake and three potatoes in 1953 and of course welfare for all these doctors and engineers that keep migrating here but never seems to get a job.
In other terms: you missed the opportunity to pivot your business model to a one that don’t relay on physical space and constant flow of people physically being there. Now you sort of blame others for not being productive enough, in order to fulfill this shift to maybe an online business. 🤔
Complaining is very easy, as is pulling a victim card, try something else for once.
Don't forget that in some cases up to 37% of staff is on sick leave. So your paying for all those fake sick leaves
Boomers get a bad rap, they will leave twice as much inheritance to the next generation as they were left, the boomers were workers with a life balance, the next generation are a bunch of skivers with a life/ work balance, put work first and get on with it or it will get worse and reduce government by half!?!
Yeah ok sure it's my fault, guess I'll not hire more people. It's honestly great since this shows what European business must deal with. To many people expect everything for free here, everything is taxed. Europe will *NEVER* become profitable again, never.
The train left the station a long time ago and you are waking up now. It's too late and by doing too little doesn't change much. Europe would be poor in less than 30 years from now. There are no high end industries left in Europe any more. We can't even manufacture EVs without Chinese help. No invitation, once been the hub and birth place of the industrial revolution. All of that because of poor political decisions 10-20 years back in the time. Just in UK people frizz to death because they don't afford to pay for gas. It's crazy! In Scandinavia you would not see beggars , but now you see them everywhere in front of stores, shopping malls etc. Congratulations to our political elites! You make Europe poor again!
The problem is that Europe is a bunch of nations manipulating the Union for their own benefit, it is a divided house ! European Federation done right ( Swiss model ) would solve most of the problems, except for the language
It would only make things worse
EU federation is the most straight way to hell! EU federation equals brutal Brussels born fascism! No thanks!
Some clever men, back in the past, when we had clever men and real leaders have said EUROPA OF NATIONS!
EU decline started when the Commission was introduced in current form and will not stop until the Commission is removed from the European institutional structure (or at least limited)! We dont need "more Europe" as this "approach" is one of the major drawbacks of "Union" and real emergency brake for the economic development of the Union!
I totally agree 👍 wise words .
Language barriers won't be a problem in the near future, almost everyone speaks English and technology helps in real time translation
Not solving the language is part of the Swiss Model
You guys miss something very important while talking federation and Swiss - they are relatively compact ethnic group with relatively similar history and traditions. Same apply to the other working federations like US and Russia.
27 different nations with different path trough the history and different understandings - the language is the last problem!
The Draghi plan is madness. He has forgotten the fact that has already caused the collapse of Yugoslavia. 1. Sharing money at 5% of GDP would create an opaque mega-bureaucracy that is never reduced in a crisis. 2. Therefore, most or a large part of the money goes to the salaries of the dual civil service (European and national) and the related agencies, which are ever growing and are not penalised for failure. 3. All of this is triggering an inflationary spiral, raising taxes and making the state poorer and poorer and poorer. This was the case in the Hasburg Monarchy as well as in ex Yugoslavia - it ends up in a mega war. The EU is dead in the bureaucratic concept, it lives only for comfortable and highly paid jobs. EU bureaucrats are simply not competent to develop the economy because they live in golden illusions.
The USSR collapsed primarily due to economic stagnation, systemic inefficiencies, nationalist movements, and a loss of legitimacy in its centralized government. The EU would face a set of triggers, such as prolonged economic crises, extreme political fragmentation, or a significant shift in public opinion against integration causing it to collapse!
Dragi is like that coach who tries to bring all team-mates together knowing fully well that these team-mates will place their self-interest above the team's interest. 😊.
EU keeps collapsing since 1957.
Europe: "We need to develop more home-grown entrepreneurial talent!
USA: "You Europeans need to develop more home-grown entrepreneurial talent so they can come start US companies!"
European demographics are much more older then The US and much lower birth rate
Judging by the number of migrants coming in do you honestly feel that young people are safe to think yeah let me raise children in this social environment..
@@Micfri300Still better Then Europe
@@Hasanaljadidjudging by how aurora and Springfield are becoming no thanks I'd rather stick with europe😂😂😂
France is literally broke unlike Germany it has no competitive Industry and extremely high deficit&debt a record of 260 billion euro a year
I thought Germany,
still used fax machines..
EU is a miniature greece. US vacation home, Parties/nations that won't coordinate even if death is facing them. Too much focus on renewables. Debt, Debt, Debt.
The thing I don`t like about the American system is the constant debt. You need to go to college, cover healthcare, get a loan, etc. The whole system is designed to live in debt from the day you are born to the day you die.
Once you account for debt, income inequality, purchasing power and working hours/days the gulf between Europe and America is not that high. The quality of life in Europe is also generally better.
Debt is not a problem any more than starting a business which fails is a problem. That these concepts seem to be difficult for people to understand is one reason why risk taking is not happening as much, and therefore Europe's lack of a presence in new tech.
Debt is a feature, not a bug. It provides a constant stream of desperate people willing to do anything for money.
Technically, you aren't oppressing people directly so they have nothing to revolt against, they don't see a master controlling them. You just create a system that creates misery and then they seemingly _decide_ to find a master themselves, and they can only blame themselves.
Just look at the most recent happiness report. People under 30 in US are way below many poor third world countries while the majority of Europe is at the top. The statistically higher numbers are bought by people simply having worse lives. A country for the rich, not for the actual citizens in general
@@NJ-wb1cz So I looked up the happiness report. Costa Rica would generally be considered a third world country and it is ranked at number 12. It is above countries like Austria, Canada, Belgium and Germany. Incidentally, the US is also above Germany, France, Spain, Italy and Japan.
Maybe the reason the US isn't higher is because of the need of Americans to feel like it all sucks, while pastures are greener elsewhere.
I don't think a measure of a country's success or whether people are being taken advantage of should be notions of happiness, especially through a convoluted calculation from survey results. Moreover, I don't think the point of a person's life or the measure of its quality is their own happiness, because I'm not a hedonist.
@@Carthodon or maybe the reason is people in some countries are more miserable than in others due to the life they have, and that owning stuff and buying distractions doesn't buy happiness and contentment.
Costa Rica also has a much higher life expectancy than US as well btw
@@NJ-wb1cz So does Japan and it is below the US. Can't help but notice that your explanation involves the US being in some way deficient, and doesn't address in what way it is superior given I listed countries you would likely have considered better than the US like Germany which was the other half of the argument.
The UAE happens to be right below Costa Rica, above all the other countries I listed, and I certainly would not want to live there. Maybe stop seeing the society that you live in as being designed to take advantage of you and oh how much better things were if people lived somewhere else. Israel by the way was number 5, a country where bomb shelters are everywhere and people regularly use them, you are forced to join the military for a few years and its very expensive. Somehow they manage to be happier than you seem to be.
It’s pretty simple, the USA generally has way freer markets, especially in tech which had decades of complete freedom. The eu, well….they had a party on producing more regulations than any other jurisdiction on earth
The problem of EU is what I call the "Luis XVI" syndrome, i.e. the fear that somebody becomes too rich and powerful and start to oppress others.
Not realizing, we're already in that situation. Companies already stomp on workers even here in Europe and Germany along with France were bullying smaller, poorer nations on the green front. Really the only reason, why Poland and Hungary got away with doing the same to the rest of the EU is, that nobody expected them to do so.
Josh Faulks is spot on with this. Unfortunately, the UK is intent on inflicting expensive energy and declining living standards just as devastating as the Europeans.
God help us.
EU is overregulated, expensive and will fail.
Don't tell me... They are planning to make... new jobs? Like , you know, jobs that actually matter for the economy? And, like, they are planning to pay people working these jobs? What sorcery is this?
Demographic collapse also holds back investment in Europe. Solar energy requires sunshine which Europe doesn't have in sufficient quantity. Wind turbines require wind. Europe isn't windy enough.
The reason for the European decline would be the aging population. Migration would not help because most of immigrants are low skilled workers which puts even more burden to the social safety system.
The only way would have been to increase the productivity with technical innovation, but unfortunately EU has regulated itself to prevent innovation with absurd bureaucracy.
Once the boomers are starting to retire in masses and the governments realises that they don’t have enough money to pay the pensions it’s gonna be chaos.
Only way of survival would be countries breaking out from EU behemoth and deregulate themselves to encourage innovation and competition. Otherwise EU would become the biggest living museum in the world literally with oldest population and old technology
@sajithdilshan Only countries that have universal pensions will have that problem. Some smart EU countries are changing pension model to private pension, so it won't matter that there will be more pensioners than workers. However it still don't fix other health care benefits that are guaranteed by state. Old sick people will have to live with less benefits. Or invest in health care to make it more productive.
@@juriscervenaks8953I don’t think that would matter, the biggest economy in Europe, namely Germany still has the government pension scheme and there is no reform in sight. When German economy is going to have an impact with the rising pension cost and reducing labour market to pay that it’s gonna send ripples across the whole EU
Kind of ironic, that the two countries most known for "eco friendly bike lanes" namely the Netherlands and Denmark, have some of the best economies, not just in Europe but the world.
They are both run by the far right anti immigrant parties. And the Netherlands has one of the most free market economies in Europe.
Small countries im the middle of Europe. The Netherlands has been also a tax heaven for companies for 50 years. It's easy to be successful with these conditions. As a matter of fact there is no poor small country in the same geographical area.
@@Someoneorother123 lol just till now and its to late,
as someone who lives in Denmark, the reasons behind are...
>low tax and easy bureaucracy for businesses
>very easy to hire and fire employees
>government run on fiscal surplus, so no risk of inflation or printing money (Denmark case ofc)
>its home of big corporations that are almost a monopoly in their market
>no minimum wage (it helps small companies and workers to negotiate without delusional values imposed by government)
In others words.... Denmark just built their system based on real economy and not in debt economy.
It's almost like both are tax havens for the super rich
The problem in EU are costs, energy costs being second after regulatory costs and labour taxes. Most companies do not invest in research and development of products because they can't afford it. Had Amazon been an EU company it would still be an online bookshop. In EU "research" means fundamental research, not product development.
My problem with this is the time-line. It's almost 2025 and there are no signs of starting the implementation. If we talk about it for the next 3 years then nothing will work.
The cost for energy in Europe increased due to shutting down Nuclear Power and only building chinese windturbines.
Nuclear power relies on Africa post colonialism, which Africa now rejects, so it can't work now.
A govt solution to a problem caused by govt. Mmmm... what could go wrong?
Europe goes from bad to worse, and misses so many opportunities. i don't see any of their policies working long-term. All huff and puff😂
Low taxes. No regulations. Hard work. This is the way and nothing else
When you're the slave owner, that can works.
Civilisation was built on taxes, only cavemen had no taxes lol.
if you're an EU bureaucrat, the aim is the opposite
I hope that Europe will continue its socialist policies so that socialists in the rest of the world will see that even the rich continent has become poor thanks to this philosophy.
Dude this is the SECOND video where you’ve said Hawaii is the poorest state. It’s one of the richest. Mississippi is the poorest state by just about every metric
in europe, rich means poor - as in "poor hawaii...it has only money, no coliseum"
The content is made by AI
Nah, pretty sure everything East of California up to Tallahassee is just Texas :D
It's by PPP per persons not GDP per person
@@lughaidhmoutia3589 I think you’re right, but even in that case according to the BEA 2022 data California would be the poorest and Hawaii second poorest. ChatGPT however believes Hawaii is the poorest and as someone else mentioned above, these scripts are likely AI-generated.
Do you have a plan?
"Yes"
What is the plan?
"We have a document titled 'Plan' since last week"
As an experienced engineer, I'm actually thinking about "brain-draining" my country and move to the US. I could actually be debt free in a few years, compared to the salary I have in the EU... 😅
Sounds like a good plan to me.
But remember don't get sick in the US.
What debt you have ? home loan car loans? if it is money you like the usa will give you especially been a engineer the rest idk.
The usa economy is doing well, still americans are always complaining online.
"debt free" who paid for your education ?
As an American engineer, all engineers are welcome!
The economic decline of the European economy is actually inevitable for many reasons. High taxes, low innovation rate, decades of socialist policies and leftist-progressive goverments which enforce illegal migration have turned Europe into a sick man.
Which have led to Europeans being substantially healthier and happier than the US with a better society overall and lower crime. But what about giant trucks tho? surely giant trucks will make people happy.
This is stright up bullshit. Look at Norway for example.
lol.. that is just one country what about the rest?
@@Nostr00Good point. The US has a much higher rate of fatal workplace accidents, fewer workers' rights, and a higher burden of disease from pollution, but apparently this is "socialism" and eroding one's health and wasting one's life so that rich people can profit off of it and number go up makes so much more sense
@@IshmaelPriceAre these the same Europeans with depleted or non existent defense industries? The same europeans the US has spent nearly a century spending billions a year to protect? The same Europeans who now beg for US protection because they can’t possibly balance their unsustainable welfare states while also defending their own interests and nation? Nice try
While US is the first place to develop AI the EU is the first place legislate regulations agianst AI. This is why you have no European UA-cam or Facebook.
👍🤣🤣🤣
The problem with Europe is they do not consume enough food additives.
Make Gluten and Corn Syrup Great Again.
😆
US lacks health protection and EU socialist policies make food unaffordable
You are right. I really miss them in my food.
Anti competitive weaponization of regulations has damaged Europe while where we urgently need reform on integration, housing, health, crime and rehabilitation have been disappointingly lacking!
There is no investment in R&D because Europe has too many monopolies. When you don’t have to compete, you don’t need innovation. Centralized economies always produce monopolies.
@stacyscott5104 It is because too much bureaucracy, small companies can't compete. But it is designed that way, big company lobby work good on politician decisions.
we have to much government. i know add more government
Individual European countries just have too many ministries of innovation, but Draghi has a solution. 3 special economic zones for the island members, 7 more progressive tax reforms for the Eastern European members, 9 subsidies for the stranded intermittent solar and wind farms doomed to die. One ministry of innovation for Draghi on his committee chairmanship. In the land of Brussels where the innovations lie. One regulatory framework to rule them all, one huge new tax to fund them all, one bureaucracy to bring them all to the table and in the red tape bind them. In the land of Brussels where the innovations lie.
-J R R Draghi
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A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
My CFA is Stacy Lynn Staples, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Europe’s Economic Collapse Inevitable , no doubt .
Perhaps political union failed.
Only shengen duty free trade should remain?
@przemysawkolisz4241 Why they wanted it in first place, what benefit to ordinary people?
@@juriscervenaks8953 It had nothing to do with common good of ordinary people. In my opinion it was all about looking better and stronger outside. Perhaps some political goals of politicians to realize their ideas.
EU and the political class focused on growth of "rights", yet forgot its right to grow....
At least it doesn't manufacture false data and then revise it heavily months later..
Cough cough biden administration
Unless bureaucracy is curbed and the anti inflation measurements are stopped the EU economy is domed.
The only thing kept EU working was the new members with high growth. So if they can’t expand EU quick enough to Ukraine, Gerogia, Moldova and Balkans nothing will help.
For scientific inovation it is better not to be centralised. The more separate people decide over grants, the more diverse the research end up. And the comment on biodegradable fuel is absolutely correct.
Mario himself laid seeds for this. What did he do other than unsustainable deficits?
Portugal Spain and Ireland are actually in very good financial shape today, having recently surpassed France by debt sustainability. So even if I don't like him, we can say the policies enacted have been successful
Dragi report was quite breaking compared to usual monotonous tone of the EU. I think its role was to start a difficult conversation rather than offer solutions.
Get this, in banking, if you want to establish a bank account as an arms manufacturer or reseller, you're considered a high risk client and are likely to deny any service. And the banks go way beyond regulation here. Another problem is, how and who the banks are willing to lend money. I have a friend, who had a cat café a while back. She applied for a business loan. Sixty papers in and eight visits to the bank later, she was refused, citing her business was too risky... so, she asked for a consumer loan and she was approved in thirty minutes. We need regulation, that would force onto the banks structure of loans given, to steer money into business venture. Not personal consumption! That should be covered by wages, not debt.
@looseycanon They gave consumer loan because laws are different for consumer and business loans. When consumer loan need to be paid off 100%, but business loan you can write off if you go bust, and bank loses that money (not gained returns). While consumer loan you can't write off. Bank is not problem, laws are.
@@juriscervenaks8953 banks are. This was for business, it should have been a business loan. And then there is another point to consider. The This friend of mine could use the loophole, because she was self employed entrepreneur. Company can't do that! How many small companies remain small instead of growing, because banks refuse to lend to them, because those can't be made consumer loans?!
Loved the video. I see the lack of technologies in my every day working on IT area of a big energy company from Belgium. Moved here 2 years ago and didn't take long to realize how the companies are not innovating. The gross salary is 1/3 of what I would earn in US and I have almost 50% of earning taxes. Besides of consuming taxes. Not even buy a car is easy because of Low Emissions Zones.
And even with less salary and seeming higher taxes you are still better of in Belgium, how do you figure that.
@@Flaggyt If he works in IT he's going to have a better life in the US and depending with luck can even retire early if he wishes a multimillionaire on stock options. That doesn't count on his salary which is again higher.
@@nightmark2120 nah you are confusing having more money with having a better life. That is true if money is the only thing you care about.
Even if I was 5 times a millionaire I wouldn't want to live in that dystopian society with people only caring about themselves and their bank account.
@@Flaggyt well that's you the rest of the world is like that. and as this video shows eu cannot sustain this.
You already live in that dystopian society in eu which is worst than the us anyway. only the old money gets rich and old well establish companies survives.
@Flaggyt At my age, 47, with kids, US isn't attractive anymore, but I know a lot younger colleagues of mine consider moving to US.
The EU has over regulations. That really needs to change. High taxes, have to come down. Big government, needs to become small. Capitalism needs to replace socialism. I think it’s a pipes dream that Europe can or will change. Poverty now stands at 22%. I think it will increase and take an other 30-40 years before change will happen.
Please note that Meloni and Draghi is / was not the President of Italy. At best President of the Council of Ministers, i.e. Prime Minister.
Some in the UK attribute certain challenges to Brexit, but similar economic and political issues can also be seen across Europe. These problems are widely discussed, and in some cases, proposed solutions involve continuing with existing strategies, though at a faster pace.”
Because the remoaner crowd can't admit the issues we're facing now are demographic crisises that have been years in the making.
Create a problem, propose solutions “increasing taxes” of course.
Nobody has ever discussed the big elephant in the room: what would happen if the US stops supporting Europe militarily? Some social services cuts would have to be made once the US military subsidies are gone. Are they ready for that? I doubt it.
@thehoneybadgerusmc Can you explain why EU needs bigger military, it don't have real threats. 1) Muammar Gaddafi stopped immigrant flow to EU but amoral USA didn't like it so they killed him, and gates are open. 2) Russian pipe was blown by USA, and Ukraine maidan was staged by CIA. Amoral USA military industrial complex need enemy to make money on arms. EU wants peace, except some countries with its own military industrial complex like France, messing in Africa, UK, maybe some smaller EU countries. 3) Russian population are in higher decline than EU, so they can't have full scale invasion in EU. Why ''crazy'' Putin would want to invade in EU anyway, what benefit for his regime or Russia? East Europe buffer was for protection from West Europe to not invade in Russia, because that is where in past Russia had invasions from. When people stop listening to fear mongering western media, then they would understand that Russia is defending from NATO expansion, not invading in Ukraine due to ''crazy'' Putin. NATO-amoral USA wants long range rockets in Ukraine, just like they installed them in Poland. Hope Trump will stop this USA military insanity.
@@juriscervenaks8953 Russia is a warmongering country that wants to conquer Europe. Putin has said so himself. He wants to re-establish Soviet influence. Yes the EU needs a larger army, to defend against Russia.
There is no such thing as a European army, instead there are several European armies in the plural. Every European country has its own army, which is financed by the tax revenues collected by those countries. In addition, each European country has the freedom to organize the country's army and national defense as they wish, which is why each European army is different (for example, Finland has the largest reserve in Europe, Sweden relies on a paid army and the French army is well organized).
@@danielmalinen6337 That’s fine and good. But the question remains the same, can the NATO countries in Europe do anything without the US? As a US Marine veteran, it doesn’t look that way on our end.
Not that much would change since Russia is too backwards and poor to fight Europe and Canada
Yes. It is the back-lash of three centuries of colonisation, of the whole world outside Europe, by nine West (& central) countries - the Netherlands, UK, France, Belgium, Denmark,Spain, Portugal, Italy & Germany (retired from global colonisation following her defeat in WW I). The humongous loot (the only reason for their prosperity) that they indulged in, has tapered off after WW II.
A social welfare state is wonderful if you don't have children or retirees to support and lots of workers. Now there are no children, there are lots of retirees and dwindling workers. They had it good for a long time and never wanted to make the hard choices. They were warned time and time again to innovate and push for pro-growth policies. Merkel is the poster child for complancency, in her time she did nothing to prepare for a post Russian energy future, a decline of American open access to European goods, and a lack of capital improvement spending. Now a disaster is here.
I agree, but they are representatives. The sad truth is, that we wish for easier lives and seldom think outside that. Votes reflect this, why would politicians fight against it?
@@prouddegenerates9056 its true. The USA is much the same, its why our infrastructure is so terrible.
Bring more immigrants.
@@prouddegenerates9056 because in 5 - 10 yrs your countries will collapse you cannot sustain it anymore it only works their are more workers than retirees and an even bigger pool of children for the next workers to pay all of it. You're losing your tax base at the same time you're losing your industries because of regulation and taxation.
Those easier lives you keep calling free like health care and pension are paid by younger people from good paying jobs you're losing both.
The alternatives are not faring better, in fact they do worse since they are just as destitute AND their children + retiree both are struggling more comparatively.
Economic numbers in USA, Canada and Australia (not UK post brexit, mind you) might be good but they gloss over a much worse quality of life and purchasing power for the 60% lower wages than anything we have in EU. A big GDP is worse than useless if you can't even provide the basics for the vast majority of your populations.
7:10 I was long time wondering how is it possible that someone can still call himself a master's degree engineer in some field, when he last earned his degree decades ago. University diplomas should come with an expiration date and re-certification policy every X years, or mandaotry requirement to prove that you worked in the field with some presentable results. At least for STEM fields.
The EU's biggest problem is that we speak a lot of different languages and this makes it difficult to move around the EU and work across borders
You forgot old hatetreds and histories
All Europeans speak English lol
The problem is certainly not a lack of planning... Quite the opposite.
Fix the problem centralisation created with more centralisation! Who could argue with this kind of genius?
Fully Grown. This is very insightful for this phenomenon
1:07 Prime Minister of Italy, not President.
Yes, such a basic mistake. That was slightly disappointing.
so much refinement is above his pay grade
President of the council of Ministers. So technically right.
@@marcoac-sx6lq Yes, technically right, but the literal translation into English is clunky and long and would not be understandable by an English audience. So most heads of government get Prime Minister or Premier.
Nothing like a bureaucrat trying to solve bureaucracy, lol
Europe ,
Western Europe ,
EU ,,
They are the garden ,
The garden of the rich & powerful .
They are going to be ETERNALLY RICH .
Thats their leaders ,
The poor doesn't matter anyway .
This was relaxing to hear
Europe, in general, has always been slow to invest and get ahead of vulnerabilities because of cumbersome governmental bodies. Neglect of military spending, protection of security networks, and energy dependency on Russia. I still remember how slow Europe was to adopt the internet.
Studying de-growth 😂😂 kinda true
😂😆😅🤣
Europe doesn't lack critical resources but the critical thinking
Oh yeah, that good old chestnut: the EU is about to collapse. The Daily Fail has predicted it at least 246 times this year so far…
If you are going to have an investment lead system you run in to the issue if paying back the debt but with aging population. That will work as long as immigration stays high levels but if the public turn against immigration then you are stuck with massive debt and fewer and fewer people to pay for it.
At the same time, US lack of regulations harming citizens. Starting with high prices for healthcare, internet neutrality ban, lobbying in government by big corps, weak labour rights and so on.
Jumping Elon Musk on Trumps rallies is a great example.
Weak labor rights yet the highest salary
We are not the US were every Buisness makes Profit. Germany should still have what they have 100% Health Covering of there Population so that we dont have to pay the Doctor or the Dentis money for a hole or a golden Crown.
Germany invested in renewables. It still has one of the highest energy prices in Europe
Learn about how energy prices are set across Europe. The majority of the time it is based on the price of electricity production from gas. Renewables are cheaper but the pricing system needs changing, which is being looked at in the UK.
@@David-bi6lf No, if we didn't have renewables, we wouldn't need gas. Gas is the source of power, that can be easily regulated (ie. can be easily and quickly turned on and off) to off set the times, when it doesn't shine enough or blow enough. Meanwhile, look at France, how their energy costs are lower, because they bet on nuclear energy.
@@looseycanon that may be so but its a bit late now as nuclear power stations take years to build. However it's not true that renewables have increased the price of electricity. It's the increased cost of gas for all countries and the link between gas and electricity pricing.
@@David-bi6lfif you think renewables are cheap then you are part of the problem
I know, I work in energy. Renewables are extremely expensive. 0,25 euro to produce a kWh of renewables
Meanwhile you can pull a kWh out of the Earth for 5-6 cent ready to use.
So by EU accellerating green transistion, they will accellerate the downfall.
Time to get out of EU, if you live there. I for one am not going to contribute to this insane policy.
So I’m planning to retire, and then live of of my pension fund in protest to those idiots in EU
You mean they still burn their trash and dry sewage and you can smell it, literally.
Seems like ignorance to me, people whos decisions led us here, they do not reflect on the fact they lost touch with reality, that their competence has run out, they still see themselves as best people for the job, their not, and the scarriest thing is that they do not recognize that
The basic problem is that the EU brought together economies of varying strengths under a common currency. Everyone should have known that this would not work.
bingo - I was looking for this comment
BS. Just look at US, how diverse in terms of economic development their states are. You have Texas and Cali, both of which would be single digit rankings in international GDP comparisons, if they were to become independent nations, and then you have places like Alabama, Mississippi...
The bureaucracy is expanding to meet the needs of the expanding bureaucracy
I think you are right and EU is doomed.
In Europe, it was decided to let the market price of energy free and float, while the price of energy moved to a new market-driven and dynamic pricing. The question is, why does the USA still insist that your energy prices are fixed and the government regulates the price of energy?
What happened two years ago to the European economy?
So the solutions to the problems of a broken EU is more EU! Of course, genius!
Sounds like religion. Pray more and get no results.
if a country has problems should we simply abandon having a country ? and what ? go back to small kingdoms ?
@jjk9o9 u know what's funny before you couldn't say eu is falling behind because you be called far right now when the idiots in Brussel say that it's OK eu has issues with its ears and being usa lap dog we do what benefits Americans not us
@@jjk9o9 The EU is not a country. So one [real] country does not do better than another country, the EU project covers all countries in red tape. As the video explains, this inhibits any economic growth.
Excellent analysis.
Draghi offering solutions as if he's never been part of the problem.
Europe must think about its own people, don't be willing to be America's puppet..
Good luck either way from the US
In he us, consumer spending as percent of gdp is between 65 and 70 percent. In the EU it is 53 percent.. Start pushing up salaries, make interest rates deeply negative and institute capital exit controls. You might be surprised as to how fast the EU economy gets going again. But big plans by supposedly important people sound so much better. We have been here before in the EU with the Lisbon agenda over a decade ago. If one third of what draghi proposes gets executed I will be excited.
I do love the section saying, we have to keep the talented people in the EU, hence allow their salaries to go 10X, but we cannot have more inequality.
Or you could just fake the job numbers per month and artificially raise them and send the euro to the moon and then quietly revise them months later.
That's what the biden administration are masters of doing.
The new routine with maps (I am using mostly Google) is once again something of an achievement. I am thinking about bringing a set off EU-commission-voodoo-dolls on the market.