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.
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.
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 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.
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.
I'd advice you read up some good books on finances and investing, or just you get yourself a financiaI-advsor that can provide you with entry and exit points on the shares/ETF you focus on.
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.
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!
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.
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.
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.
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.
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. 😊.
I find it rediculous that non-euro members like denmark, poland, czechia, hungary, bulgaria, romania and sweden are asked to support the ECB's irresponsible monetary policy, to their own detriment.
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.
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 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
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..
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
Went to USA for 10 weeks summer 2024. Seen lots of nice places, met cool people and did awesome things. But their worst is much worse than anything I have at home (or most of the counries I've visited in my 14 months world trip, including developping ones). Their economy is abysmal, no matter what their numbers say. What use is it if it's only good for a small fraction of the population when everyone else suffers? Granted, my family and friends living there are happy. But only as long as they make 250k usd in suburb San Francisco (forget downtown SF) or 180k in Morristown New jersey (forget Manhattan) and 120k in Fortworth Texas (decent if you are a homeowner and doing some leasing on the side of your full time job). Any less and they'd all bail out, going back to Vietnam, France or Mexico for a better life. Earning 30kusd annual in Paris (28k euros), I'm comparatively wealthier than if I earned 75kusd in NYc, that's just ridiculous; Border custom guy couldn't understand how I could afford a 1 year sabbatical post-Covid life project on my salary while he couldn't even dream about doing the same; As a result, getting suspicious of me and my honest but unbelievable answers to the point he checked my travel bags for drugs lol. (I checked him in turn, turns out Customs Officer yearly pay in the United States is approximately $66,984, which is 6% above the national average). I was so sad for him, if that's what middle class there is being reduced to. Our medium salary being 45kusd while it's 60kusd for an american, but our middle class purchasing power and quality of life is equal to someone earning 135k usd there. What use is it to have/produce a lot of money if it's not worth shit at home and you can't afford to leave? Also, they say our debt is huge; it's 112% of GDP. But USA's debt is a whopping 127% of GDP and growing much faster while USD as a world reserve currency plummeted for the past 3 years and will keep going down. Life in France, is much better than life in USA for the vast majority of the population on almost every single non economic metrics. Here are just a sampling of comparisons between France - USA. They speak for themselves: Income Inequality Rating (=Worse) : FR 30.1 (22nd) - USA 45.1 (3rd worst in OECD) Percentage of Pop. below Poverty Line: FR 8% - USA 18% Prisoners per 1K inhabitants: FR 1 - USA 7.2 (World #1) Murders per 1M inhabitants FR 10.4 - USA 40.5 Rapes per 100K: FR 15.6 - USA 27.8 WHO Ranking of health care systems: FR #1 - USA #37 Rank of health care delivery efficiency: FR #15 - USA #50 Hospital Beds/1K people: FR 7.1 - USA 3.3 Infant Mortality / 1K live births: FR 4.8 - USA 6.5 Life Expectancy at birth (F+M): FR 82.9 yrs - USA 78.9 yrs Obesity Percentage: FR 18% - USA 34% of pop. Renewable Power Generation/Total (not incl nuclear): FR 17.5% - USA -14.3% Percentage electrical power generated on nuclear power grid: FR 75% - USA -19% Electricity generated by oil per capita: FR 49 KwH - USA 93 KwH Transport Inefficiency Rank (>=Better)/Rating (
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.”
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.
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.
@@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.
I spent 3 months in France with an exchange program. The quality of life in France is twice as good as in the US, even though salaries are half as much.
That would suggest it's unsustainable which is what the previous French government said before it was turfed out most probably because of the inconvenient truth!?!
@TomTomicMic that would suggest that if lower taxes were introduced and more young people were taught vocational skills like in Poland the eu would do just fine. The irony is that the eu has 27 individual members and if you take bits and parts from different countries it would be amazing
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.
Standard of living while the average American has 10X your spending power in your own continent while the American GDP has 12 trillion USD more than your entire economy even though you have exactly 109 million more people. California has half the population of Germany, the biggest economy in Europe, but the exact same GDP. So much for your standard of living, ridiculous deluded uneducated nonsense.
@@term164 Meanwhile, the Asian sector has well over 32 trillion USD in GDP with high performing economies like Singapore, South Korea, Japan, Australia, CHINA AND Indonesia. Which second only to North America, but please don't tell these ridiculous deluded disease infested nonsense that.
short term problem. just like sanctions on Russia and China forced both to more resiliency and autonomy, EU becoming self sufficient through RE and nuclear within 5 years will be a good thing, being shackled wether it be by american or middle east or russian gaz & oil was easy and convenient when it was cheap; now it's not anymore so getting rid of that expense will do EU a huge favor (at the cost of some short term hardship). Worth it imo.
Just last week, the Supreme Court decided that energy companies can raise floating energy prices as high as they want, and EU countries must not interfere with the free market economy and market-driven energy production by putting ceilings and brakes on price increases.
@@danielmalinen6337 sucks for them and their citizens who will have to pay, but SC rulings doesn't rule over EU. Germans having been screwed over already are not gonna lie down and french nuclear power production are getting back online after a very ill timed maintenance round. Free market means their cheaper prices will sell more.
@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.
Even the existing supposed tech investments in Europe are in fictitious multinational "consortiums". The EU is encouraging cross-european "collaborations", not local cohesive startups. So academics and industry create fictitious teams in order to fill applications for funding.
@@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.
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.
Is this channel owned by the Express? Every 2nd video is hype about the sky falling down on the EU again. Mostly just one sided mental you-now-whating.
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.
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?
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.
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...
Yeh, but European politicians shouldnt take to socialism to enhance the stupidity Yet they did. The whole European green net zero policies are the peak of stupidity brought on to us by socialists of all colours
A decline can be observed more or less in the entire western world. I think there is more than one reason for this. Poor political leadership on varoius levels: Over-regulation, burocracy, and too restrictive laws cutting down enterpreneurship. Public debths crisis, too high taxes, and missmanaged change to sustainable energy supplies. Allowing immigration regardless the situation on the job market, and without a solutions to sending back those which do not behave well. I think we should do it like in Agentinia: massively reduce the amount of public law entities, cut down public expenses, and fight corruption. Reform the EU, cancel 90% of it's regulations and reduce the complexity and national, state, minicipiality related rules too. Establish a migration policy that works in two directions. Let the change towards a greener and more sustainable economy manage the craftman on construction sites, engineers in facturies, and consumers in shops, but avoid over-planning this change in governemental offices.
European leaders must spend more attention and time solving the problems of their countries than lecturing non-EU countries on human rights, rights of minorities who will land in Europe as refugees, etc...😊
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.
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.
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.
Well, China and Russia are "collapsing" as well, and the US isn't doing much better, especially not when Trump returns. Business as usual. The bigger crises are climate and sustainability.
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.
the US has massively profited from selling weapons and to do that it instigated conflicts across the globe. Also lets not forget that the US is in such debt, it can never pay it off, but that is ignored because of the $.
When I went on a cruise around Europe, there was this one speaker that came on while we were in Germany that talked about life in Germany. I asked him what the startup/business environment here was like. And he just blatantly replied: “ 8( you want to start a business, go to a different country” because the regulations here will kill me.
Establishing start-ups is easier, for example, here in Finland, but the downside is high taxes and that entrepreneurs in Finland don't have proper social security and a safety net if the company collapses and goes bankrupt, which would leave the entrepreneur unemployed. But if the company collapses and goes bankrupt, the entrepreneur can create their own safety net by transferring responsibility and consequences from the entrepreneur to the employees so that when the company collapses and goes bankrupt, the employees carry the company and the entrepreneur gets out easily. However, work force is not cheap in Finland and many entrepreneurs have felt that in Finland the salaries of workers in low-wage sectors are too high, but at the same time they are not enough for low-wage workers to cover their living costs and rental housing at Finland's price level, which is why the state carries out income transfer via taxation and social security so that employees and unemployed job seekers don't have to live on the street, freeze and starve. But this is soon being fixed in such a way that there is no legal minimum wage in Finland and the general binding collective agreements of trade unions that set the minimum wage are being abandoned in favor of so-called local agreements between the employer and the individual employee and it is hoped that this will cut salaries and incidental expenses more suitable for employers and entrepreneurs who otherwise could not afford employees. This change is important especially because the EU is going to ban employers from using unpaid interns to do the work free.
A critical element has been left out of the equation; inefficient old fashioned functioning (and thinking) in private companies and government departments
It’s much easier for private industry to invest if energy is cheap, like it is in the USA and China. In China they burn domestic and Australian coal to get among the cheapest electricity in the world and cheap process heat so they can knock out renewables on the cheap.
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!
Friendly reminder that low GDP per capita growth is not really an "economic collapse" if you think about the purpose of economics as needs fulfillment. That the US has higher growth right now doesn't actually appear to be benefiting the average person and most of the wealth is concentrated amongst the rich, and most of the rest is wasted on pointless consumerism instead of meeting basic needs. Economies based on producing large amounts of things that people don't need may lead to more total dollars spent but the downside is that they are pointless. Europe will achieve economic success if it continues to improve the health and general well-being of its people and enable them to live fulfilling and meaningful lives. Also, it's totally absurd that this video characterizes Europe's different economy as "eco-sustainable bike lanes or having leading universities studying degrowth". What? Well those are nice things but I think the main point is that people in Europe are significantly healthier and happier and their societies are simply better with far less crime. Where is it actually better to live? Econo-brain in action here.
I think Volkswagen’s difficulties with electric vehicle innovation, particularly in comparison to Japan, China, and the U.S., combined with the extensive presence of U.S. military bases and Europe’s lack of technological autonomy, suggest that Europe may face significant challenges ahead.
@@spacecube8561 I think his idea was that EU relies on USA military tech too much, hence less innovations in EU military. And electric vehicles are over hyped, most people won't be able to afford them. Hybrid is the best for environment. Only when we have majority green electricity generation, only then electric cars can be affordable, due to cheaper electricity costs.
@@juriscervenaks8953 so, it's not that US military tech hinders EU, it's actually not-investing-agreed 2% on defence among EU members that was hindering EU militaries.......... but we knew that since like 2014.
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.
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 .
There's a much easier and less bureaucratic solution to this: discount public investment in R&D and defense from the EU deficit rules. Europe spends too little on R&D
One part that is always disingenuous about this report is that "Europe" is not facing an economic crisis as much as the whole world is facing one. Sure you have the occasional undervelopped country striving forward, or develop country having a good decade due to one key field proping their economy, but for most of the world, economic indicator are grim to some extent. The USA economy is booming ... With regard high rate of poverty, and most of said growth is just tech (which is both fine and a huge bubble at the same time) and healthcare skinning the average American alive. China is trying to strangle the whole world in term of manufacturing while damaging itself in passing. We're in an era where over production is back, with China trying to keep a monopoly on manufacturing and the USA using their huge fiscal and bullying power to have a monopoly on the other end.
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
Not true. The American middle class is already moving in Europe in droves. Europe provides better working hours, more off days, better healthcare, better education, etc. You`re not a slave to some evil billionaire/corporation like in the states. The general environment and cities are also nicer. Food is actually food as well. The problems are really the lack of natural resources, living space and the poor pay in general. Still, if you adjust for purchasing power, income inequality and debt then Europe is not SO MUCH behind as it`s made out to be.
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
The poorest US state in GDP per capita is Mississippi, not Hawaii, but it is true that Mississippi's GDP per capita is barely below Germany''s ($53,000 vs $54,000).
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.
What about TUM,KTH,NTU as well? Also, cutting edge research needs quality administration, management and passionate engineers with the best if EU regulation that fosters promotion and prevents anti-competition practices.
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 🙃🙄
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.
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
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.
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.
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.
Hawaii is NOT the poorest state in the US
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 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.
Fix the problem centralisation created with more centralisation! Who could argue with this kind of genius?
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.
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.
I'd advice you read up some good books on finances and investing, or just you get yourself a financiaI-advsor that can provide you with entry and exit points on the shares/ETF you focus on.
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.
I've been looking to switch, but have been kind of relaxed about it. Could you recommend your wealth manager? I'll be happy to use some help.
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.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
To hell with youtube shadowbanning and censorship
Well this didn't get censored
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!
France is literally broke unlike Germany it has no competitive Industry and extremely high deficit&debt a record of 260 billion euro a year
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
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.
Somehow they want to fight the effects of an overreaching government with more government
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!
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.
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. 😊.
I find it rediculous that non-euro members like denmark, poland, czechia, hungary, bulgaria, romania and sweden are asked to support the ECB's irresponsible monetary policy, to their own detriment.
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
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.
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 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
EU is nokia 3310
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😂😂😂
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
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
Went to USA for 10 weeks summer 2024.
Seen lots of nice places, met cool people and did awesome things.
But their worst is much worse than anything I have at home (or most of the counries I've visited in my 14 months world trip, including developping ones).
Their economy is abysmal, no matter what their numbers say. What use is it if it's only good for a small fraction of the population when everyone else suffers?
Granted, my family and friends living there are happy. But only as long as they make 250k usd in suburb San Francisco (forget downtown SF) or 180k in Morristown New jersey (forget Manhattan) and 120k in Fortworth Texas (decent if you are a homeowner and doing some leasing on the side of your full time job).
Any less and they'd all bail out, going back to Vietnam, France or Mexico for a better life.
Earning 30kusd annual in Paris (28k euros), I'm comparatively wealthier than if I earned 75kusd in NYc, that's just ridiculous;
Border custom guy couldn't understand how I could afford a 1 year sabbatical post-Covid life project on my salary while he couldn't even dream about doing the same;
As a result, getting suspicious of me and my honest but unbelievable answers to the point he checked my travel bags for drugs lol.
(I checked him in turn, turns out Customs Officer yearly pay in the United States is approximately $66,984, which is 6% above the national average).
I was so sad for him, if that's what middle class there is being reduced to.
Our medium salary being 45kusd while it's 60kusd for an american, but our middle class purchasing power and quality of life is equal to someone earning 135k usd there. What use is it to have/produce a lot of money if it's not worth shit at home and you can't afford to leave?
Also, they say our debt is huge; it's 112% of GDP.
But USA's debt is a whopping 127% of GDP and growing much faster while USD as a world reserve currency plummeted for the past 3 years and will keep going down.
Life in France, is much better than life in USA for the vast majority of the population on almost every single non economic metrics.
Here are just a sampling of comparisons between France - USA. They speak for themselves:
Income Inequality Rating (=Worse) : FR 30.1 (22nd) - USA 45.1 (3rd worst in OECD)
Percentage of Pop. below Poverty Line: FR 8% - USA 18%
Prisoners per 1K inhabitants: FR 1 - USA 7.2 (World #1)
Murders per 1M inhabitants FR 10.4 - USA 40.5
Rapes per 100K: FR 15.6 - USA 27.8
WHO Ranking of health care systems: FR #1 - USA #37
Rank of health care delivery efficiency: FR #15 - USA #50
Hospital Beds/1K people: FR 7.1 - USA 3.3
Infant Mortality / 1K live births: FR 4.8 - USA 6.5
Life Expectancy at birth (F+M): FR 82.9 yrs - USA 78.9 yrs
Obesity Percentage: FR 18% - USA 34% of pop.
Renewable Power Generation/Total (not incl nuclear): FR 17.5% - USA -14.3%
Percentage electrical power generated on nuclear power grid: FR 75% - USA -19%
Electricity generated by oil per capita: FR 49 KwH - USA 93 KwH
Transport Inefficiency Rank (>=Better)/Rating (
"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
Studying de-growth 😂😂 kinda true
😂😆😅🤣
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.
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.
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
Unless bureaucracy is curbed and the anti inflation measurements are stopped the EU economy is domed.
The only thing that's inevitable are videos predicting the future becoming laughable when viewed back in the future.
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.
I spent 3 months in France with an exchange program. The quality of life in France is twice as good as in the US, even though salaries are half as much.
That would suggest it's unsustainable which is what the previous French government said before it was turfed out most probably because of the inconvenient truth!?!
You can't guage quality of life on a 3-month exchange program.
@TomTomicMic that would suggest that if lower taxes were introduced and more young people were taught vocational skills like in Poland the eu would do just fine.
The irony is that the eu has 27 individual members and if you take bits and parts from different countries it would be amazing
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.
This what Leftism gives you, Economic hardship
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.
@visualeconomicen As an European I would love to see a video with ideas and solutions to fix Europe but from you not Mario 👍
Funnily enough, growth is currently lower, but it is still the continent with the best standard of living 😂. Asia wishes they were that "bad".
Standard of living while the average American has 10X your spending power in your own continent while the American GDP has 12 trillion USD more than your entire economy even though you have exactly 109 million more people. California has half the population of Germany, the biggest economy in Europe, but the exact same GDP. So much for your standard of living, ridiculous deluded uneducated nonsense.
Yeah until it gets so bad that you wish you were in asia...
@@term164 ... said the wumao
True - but only if you're middle class and below.
@@term164 Meanwhile, the Asian sector has well over 32 trillion USD in GDP with high performing economies like Singapore, South Korea, Japan, Australia, CHINA AND Indonesia. Which second only to North America, but please don't tell these ridiculous deluded disease infested nonsense that.
No cheap energy means no industrial economy.
They followed their masters off a cliff..
lol, stop talking common sense.
short term problem.
just like sanctions on Russia and China forced both to more resiliency and autonomy, EU becoming self sufficient through RE and nuclear within 5 years will be a good thing, being shackled wether it be by american or middle east or russian gaz & oil was easy and convenient when it was cheap; now it's not anymore so getting rid of that expense will do EU a huge favor (at the cost of some short term hardship). Worth it imo.
Just last week, the Supreme Court decided that energy companies can raise floating energy prices as high as they want, and EU countries must not interfere with the free market economy and market-driven energy production by putting ceilings and brakes on price increases.
@@danielmalinen6337 sucks for them and their citizens who will have to pay, but SC rulings doesn't rule over EU. Germans having been screwed over already are not gonna lie down and french nuclear power production are getting back online after a very ill timed maintenance round. Free market means their cheaper prices will sell more.
USA - Federation of States, EU-Confederation of Nation States. This is EU main problem.
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.
You really love the word collapse. Very radical, mucho engagement.
Yes if the Rich get taxed Europe will collapse..like stfu man lol. Blatant Tory.
According to youtube videos, every economy is collapsing🤣🤣
@@santostv. and Russia is going to lose the war any minute
lol what a kid word@@santostv.
Excellent analysis.
Even the existing supposed tech investments in Europe are in fictitious multinational "consortiums". The EU is encouraging cross-european "collaborations", not local cohesive startups. So academics and industry create fictitious teams in order to fill applications for funding.
Draghi offering solutions as if he's never been part of the problem.
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.
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.
Is this channel owned by the Express?
Every 2nd video is hype about the sky falling down on the EU again.
Mostly just one sided mental you-now-whating.
And... aren't they right? Aren't EU actually falling? And isn't it because the pure stupidity of "leaders" like Draghi itself?
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.
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
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?
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.
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...
It all boils down to the US having control of the world exchange currency and exporting inflation
Yeh, but European politicians shouldnt take to socialism to enhance the stupidity
Yet they did.
The whole European green net zero policies are the peak of stupidity brought on to us by socialists of all colours
A decline can be observed more or less in the entire western world. I think there is more than one reason for this. Poor political leadership on varoius levels: Over-regulation, burocracy, and too restrictive laws cutting down enterpreneurship. Public debths crisis, too high taxes, and missmanaged change to sustainable energy supplies. Allowing immigration regardless the situation on the job market, and without a solutions to sending back those which do not behave well. I think we should do it like in Agentinia: massively reduce the amount of public law entities, cut down public expenses, and fight corruption. Reform the EU, cancel 90% of it's regulations and reduce the complexity and national, state, minicipiality related rules too. Establish a migration policy that works in two directions. Let the change towards a greener and more sustainable economy manage the craftman on construction sites, engineers in facturies, and consumers in shops, but avoid over-planning this change in governemental offices.
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…
European leaders must spend more attention and time solving the problems of their countries than lecturing non-EU countries on human rights, rights of minorities who will land in Europe as refugees, etc...😊
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.
Rigid labor rules, crushing regulation and murderous taxes.
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.
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.
Well, China and Russia are "collapsing" as well, and the US isn't doing much better, especially not when Trump returns. Business as usual. The bigger crises are climate and sustainability.
You just made me remember that other nations are also not doing great
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.
EU is overregulated, expensive and will fail.
Invest more in defense. The US has massively benefited from defense technology spilling over into civilian tech.
the US has massively profited from selling weapons and to do that it instigated conflicts across the globe. Also lets not forget that the US is in such debt, it can never pay it off, but that is ignored because of the $.
Or just manipulate the job numbers.
That also is a biden administration speciality.
When I went on a cruise around Europe, there was this one speaker that came on while we were in Germany that talked about life in Germany.
I asked him what the startup/business environment here was like. And he just blatantly replied: “ 8( you want to start a business, go to a different country” because the regulations here will kill me.
Establishing start-ups is easier, for example, here in Finland, but the downside is high taxes and that entrepreneurs in Finland don't have proper social security and a safety net if the company collapses and goes bankrupt, which would leave the entrepreneur unemployed. But if the company collapses and goes bankrupt, the entrepreneur can create their own safety net by transferring responsibility and consequences from the entrepreneur to the employees so that when the company collapses and goes bankrupt, the employees carry the company and the entrepreneur gets out easily. However, work force is not cheap in Finland and many entrepreneurs have felt that in Finland the salaries of workers in low-wage sectors are too high, but at the same time they are not enough for low-wage workers to cover their living costs and rental housing at Finland's price level, which is why the state carries out income transfer via taxation and social security so that employees and unemployed job seekers don't have to live on the street, freeze and starve. But this is soon being fixed in such a way that there is no legal minimum wage in Finland and the general binding collective agreements of trade unions that set the minimum wage are being abandoned in favor of so-called local agreements between the employer and the individual employee and it is hoped that this will cut salaries and incidental expenses more suitable for employers and entrepreneurs who otherwise could not afford employees. This change is important especially because the EU is going to ban employers from using unpaid interns to do the work free.
The problem is certainly not a lack of planning... Quite the opposite.
A critical element has been left out of the equation; inefficient old fashioned functioning (and thinking) in private companies and government departments
It’s much easier for private industry to invest if energy is cheap, like it is in the USA and China. In China they burn domestic and Australian coal to get among the cheapest electricity in the world and cheap process heat so they can knock out renewables on the cheap.
Well U.S achieved what it want but it is too late.
Good luck Draghi. Your heart is in the right place but until labour, fuel and taxes reach parity with Asian countries, the EU is on a slippery slope.
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!
Friendly reminder that low GDP per capita growth is not really an "economic collapse" if you think about the purpose of economics as needs fulfillment. That the US has higher growth right now doesn't actually appear to be benefiting the average person and most of the wealth is concentrated amongst the rich, and most of the rest is wasted on pointless consumerism instead of meeting basic needs. Economies based on producing large amounts of things that people don't need may lead to more total dollars spent but the downside is that they are pointless. Europe will achieve economic success if it continues to improve the health and general well-being of its people and enable them to live fulfilling and meaningful lives. Also, it's totally absurd that this video characterizes Europe's different economy as "eco-sustainable bike lanes or having leading universities studying degrowth". What? Well those are nice things but I think the main point is that people in Europe are significantly healthier and happier and their societies are simply better with far less crime. Where is it actually better to live? Econo-brain in action here.
UK is doing bad but EU ain't doing much better it seems post brexit.
Do you have a plan?
"Yes"
What is the plan?
"We have a document titled 'Plan' since last week"
I think Volkswagen’s difficulties with electric vehicle innovation, particularly in comparison to Japan, China, and the U.S., combined with the extensive presence of U.S. military bases and Europe’s lack of technological autonomy, suggest that Europe may face significant challenges ahead.
how the f*ck us military bases hinder VW?
@@spacecube8561 I think his idea was that EU relies on USA military tech too much, hence less innovations in EU military. And electric vehicles are over hyped, most people won't be able to afford them. Hybrid is the best for environment. Only when we have majority green electricity generation, only then electric cars can be affordable, due to cheaper electricity costs.
@@juriscervenaks8953 so, it's not that US military tech hinders EU, it's actually not-investing-agreed 2% on defence among EU members that was hindering EU militaries..........
but we knew that since like 2014.
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.
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 .
There's a much easier and less bureaucratic solution to this: discount public investment in R&D and defense from the EU deficit rules. Europe spends too little on R&D
Europe’s Economic Collapse Inevitable , no doubt .
One part that is always disingenuous about this report is that "Europe" is not facing an economic crisis as much as the whole world is facing one. Sure you have the occasional undervelopped country striving forward, or develop country having a good decade due to one key field proping their economy, but for most of the world, economic indicator are grim to some extent. The USA economy is booming ... With regard high rate of poverty, and most of said growth is just tech (which is both fine and a huge bubble at the same time) and healthcare skinning the average American alive. China is trying to strangle the whole world in term of manufacturing while damaging itself in passing. We're in an era where over production is back, with China trying to keep a monopoly on manufacturing and the USA using their huge fiscal and bullying power to have a monopoly on the other end.
The politicians of Europe have had blinkered eyes and thier jobs relying on being in that parliament
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
At the moment, only South East Asia and some middle eastern countries are optimistic. The rest of the world seems to be going down real fast!
Europe is more of a preferred holiday destination than working and living in it.
Not true. The American middle class is already moving in Europe in droves. Europe provides better working hours, more off days, better healthcare, better education, etc. You`re not a slave to some evil billionaire/corporation like in the states. The general environment and cities are also nicer. Food is actually food as well.
The problems are really the lack of natural resources, living space and the poor pay in general. Still, if you adjust for purchasing power, income inequality and debt then Europe is not SO MUCH behind as it`s made out to be.
@@cowboybeboop9420 What occupations do these supposed middle class people have? Anything that can contribute to European countries' exports?
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
The poorest US state in GDP per capita is Mississippi, not Hawaii, but it is true that Mississippi's GDP per capita is barely below Germany''s ($53,000 vs $54,000).
And yet, people in Germany are incomparably happier and have better lives. So what's the point of GDP?
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.
It sounds like Draghi is in search for a very peculiar animal here:
An economic plan without drawbacks
The video says 'none of the top universities in the world are in Europe'. Ever heard of Oxford, Cambridge, LSE, St Andrews.
@sirfinleygaming9490 I think he means in the EU.
ever heard of brexit
lol i think you contradict your self their "mate". bo'ohw'o'wo'er moment
What about TUM,KTH,NTU as well? Also, cutting edge research needs quality administration, management and passionate engineers with the best if EU regulation that fosters promotion and prevents anti-competition practices.
These universities used to be really good! But now… are they great high tech universities?