European Economics Thread
- Thread starter PiSigma
- Start date
That is not a sustainable economic model for a place as large as Central Europe.
Europe already makes a substantial amount of revenue out of the tourism sector. But you can't live just off that.
They need to come up with some kind of relatively cheap energy source.
As for Germany, all they had to do was simply not close down their nuclear power plants, like I said here before.
France also delayed maintenance of their nuclear reactor fleet thinking it would be replaced by renewables and natural gas. But at least the reactors are still online. In Germany they even tore down the cooling towers just to make it harder to restart nuclear energy production.
The German nuclear reactors were closed down before their design life of 40 years. West German nuclear reactors got closed down at 30 years lifetime. East German nuclear reactors at Greifswald were closed down at 0 years lifetime. They didn't even bother turning on a finished East German nuclear reactor. Because it was of Soviet design, so supposedly inferior, yet similar reactors operate in Finland and the Kola peninsula in Russia even today.
With modern maintenance techniques, namely thermal annealing, those reactors could have been used for 60 years.
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I kind of feel like this will lead to a pretty deep crisis that hasn't manifested itself yet. At some point, banking system exposure will become all too obvious.
Very interesting thread showing the ever-widening economic gap between the US and Europe
Essentially what he brought up were mostly personal subjective ideological beliefs and financial metrics (that are so exaggerated in the US thanks to end-stage plutocracy, this is a major net negative for society in fact, very bad and artificial) that have nothing to do with the real economy and can't be used as proxy for it.
Another immediate disqualification is that he brought up also unimportant nominal GDP bullshit that could be the result of anything, other than the real economy, inflation, exchange rates, you name.
Those kinds of artificial non-coherent sharp movements due to the rotting of the US economy don't signal any meaningful comparative change in the real world for nothing positive.
Inflation is self-explanatory, but dollar strengthening is also bad in terms of future re-industrialization export prospects and they actually force other countries to abandon dollars too as they are getting squeezed. Such a strong dollar is the last thing the US needs for both possible directions.
Out of the real economy, he seems to have brought up only the software sector as the end all be all, when it's just one more high-tech sector among a dozen others. Looks to me like another right-winger Trumptard Westoid who hates the "communists" or similar.
They are full of shit and similar myths of their theological "creative" "innovation" and other similar intangible magical concepts. This person doesn't strike me as particularly intelligent or educated. Just use one example, Germany alone actually exports more high-tech products overall yearly than the US.
He criticizes the EU bureaucracy and regulation as if the US is not similarly full of similar occurrences. Regulating in favor of established monopolies and oligopolies to help them artificially maintain their market share with lobbying, from the tech sector to pharma, to everything else in existence, purposefully making the system as complicated as possible so those companies can continue to rent seek and actually stagnate, not innovate, without competition.
Europeans drowning in red tape, and they aren't, lmao, they can't build any infrastructure now for the love of God, then look at the slowness of CHIPS, delayed timelines, inefficiencies, regulatory hurdles in the TSMC saga, etc.
Even the American software sector, which they are so proud of, actually relies on this precise unfair market advantages, of a few mega neo-feudal tech overlords, at home and first-comer network effect globally to extract profits, not on much innovation, for example, the Chinese software sector is much more innovative in the actual sense of the word overall, just talking feature wise or the quality of the service.
In fact the only bad thing that happened in the EU compared to the US was due to following retarded US directives of cutting Russian energy, and some excessive climate-related policies/decisions, but he didn't mention these at all as he doesn't have any idea what he is talking about.
Honestly speaking if the US didn't cook its books in economic reporting much more than the EU, regarding everything from inflation to GDP, then it would have been shown to be not much better than the EU even after it tried to cannibalize some of its industry recently. To me, it sounds like one drunk hubris-filled idiot talking down on another one. While both of them are about to die from rotting away slowly next.
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The total stagnation and zombification of the West and specifically the EU feels like just a preview of what’s coming and it’s going to drag on for a long, long time.
It’s not just China stepping in to dunk on them; it’s everyone taking their turn. That said, they haven’t fully hit the full collapse phase yet, though it’s definitely waiting for them.
They’ve still got some scraps of soft power left, brand recognition, cultural clout, tourism appeal, luxury markets, that kind of thing. But all of that is fading fast, especially as they lose the global competition to China (and others) while clinging to the US.
Add in the domestic chaos that’s brewing, and it’s only a matter of time before the whole thing unravels. Things will rebalance heavily globally.