What’s it called when Anglo nations start doing what they accused north Korea of doing, having Potemkin villages, or in this case, Potemkin shop fronts?
And isn’t it incredibly Oriental of these Anglo nations to be so obsessed with “face”?
European Economics Thread
- Thread starter PiSigma
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And isn’t it incredibly Oriental of these Anglo nations to be so obsessed with “face”?
The European Commission noted that the EU economy entered 2023 on a better footing than projected in autumn and lifted the growth outlook for this year by 0.6 pps to 0.9% in the Euro Area, which is now set to narrowly avoid the technical recession that was anticipated for the turn of the year, as wholesale gas prices have fallen well below pre-war levels while the labour market has continued to perform strongly, the Winter 2023 Economic Forecast showed. All countries in the Euro Area are set to grow in 2023, with Germany expected to expand 0.2%, France 0.6% and Italy 0.8%. Meanwhile, the inflation forecast has been revised slightly downwards compared to autumn, mainly reflecting developments in the energy market. Headline inflation is forecast to fall to 5.6% in 2023 from 8.4% in 2022 and to 2.5% in 2024. The Commission added that risks to growth are broadly balanced and those to inflation remain largely linked to developments in energy markets. In 2022, the Euro Are economy grew 3.5%. source: EUROSTAT
It feels like an AI generated solution. Maybe we should be less harsh on AI considering human do the same dumb shit.
I mean, afaik, the concept of face was initially invented by orientals to describe the peculiar, strongman-fronting behavior of westerners, in particular Americans.
For Asian slaves in America, helping the locals "save face" was important, I.e. don't make them look weak or bad, because not doing so could at worst cause them to lynch you.
Rome is falling:
It’s often forgotten that Italy is the EU’s second largest industrial base behind only Germany. Similarly, Italy is the second largest importer of natural gas in the EU behind Germany. Italy relies on imports for three-quarters of its power consumption and Rome already has had to commit roughly 100 billion euros to soften the blow of the energy crisis, which has meant cuts to social programs.
Italian real wages are falling at the fastest pace in the EU, and it remains the only country in the bloc where wages have fallen since 1990. Temporary, low-paid contracts now account for the majority of new jobs and 5.6 million Italians — including 1.4 million minors — currently live in poverty, an all-time high.
It’s often forgotten that Italy is the EU’s second largest industrial base behind only Germany. Similarly, Italy is the second largest importer of natural gas in the EU behind Germany. Italy relies on imports for three-quarters of its power consumption and Rome already has had to commit roughly 100 billion euros to soften the blow of the energy crisis, which has meant cuts to social programs.
Italian real wages are falling at the fastest pace in the EU, and it remains the only country in the bloc where wages have fallen since 1990. Temporary, low-paid contracts now account for the majority of new jobs and 5.6 million Italians — including 1.4 million minors — currently live in poverty, an all-time high.
The S&P Global Eurozone Composite PMI increased to 52.3 in February 2023, up from 50.3 in the previous month and easily beating market consensus of 50.6, a preliminary estimate showed. The latest reading indicated the strongest expansion of business activity since last May, as service sector growth accelerated to an eight-month high and manufacturing production levels rose for the first time since last May helped by improved supply chains. Within the euro area, both France and Germany returned to growth for the first times since last October and last June, respectively. Overall new orders were up for the first time in nine months, while backlogs of orders fell and the rate of job creation eased. On the price front, both input costs and output charges rose at a slower pace. Finally, business confidence hit a one-year high due to fewer concerns over the possibility of a deep recession and over energy supply and prices, as well as signs of a peaking of inflation.
source: Markit Economics
source: Markit Economics
Supermarkets have started rationing vegetables in the UK. The lying BBC is claiming it is because of the "weather" (i.e. climate change), but the truth is it is mostly because of the rising cost of energy. A lot of produce is grown in greenhouses and because of the high cost of energy it's become uneconomic to do so Energy is also needed harvest, transport and package products, not to mention other costs like fertiliser.
Supermarkets, producers and the government can take the hit in the short term, but it is unsustainable in the long run. Anything with a low margin, high volume is going to be hit hard.
I assume it's the same story throughout Europe.
"There are more than 5.5 million absolute poor in our country and poverty is increasing. In Rome there are many centers that try to help the needy in various ways. This time the cameras of PresaDiretta entered the premises of the Nonna Roma Association during the day on which the activities of the food bank for food distribution take place."
Inflation Accelerates in France and Spain
Annual inflation rate in France accelerated for a second straight month to 6.2% in February from 6% in January, above forecasts of 6.1%, preliminary estimates showed. The inflation moved back to 1985-highs seen late last year, pushed up by cost of food and services. Meanwhile, inflation in Spain also resumed its upward trend to 6.1% in February, compared to 5.9% in January and expectations of 5.7%, led by higher electricity and food prices.
Annual inflation rate in France accelerated for a second straight month to 6.2% in February from 6% in January, above forecasts of 6.1%, preliminary estimates showed. The inflation moved back to 1985-highs seen late last year, pushed up by cost of food and services. Meanwhile, inflation in Spain also resumed its upward trend to 6.1% in February, compared to 5.9% in January and expectations of 5.7%, led by higher electricity and food prices.