Norwegian here, I'm a bit surprised that we "aced" the list even before Ukraine. Although Norway's GDP has increased in recent years, this doesn't directly benefit most Norwegians. Since the installation of power cables to Europe, prices in the south and west have remained the same or worse than the rest of Europe. Given Norway's cold climate, power prices are crucial. Norway has essentially become Europe's battery, and it will be interesting to see how this affects our power-hungry industries. The Norwegian krone has also depreciated significantly, prompting the central bank to raise interest rates. It's currently uncertain when they will lower rates, likely not until mid to late 2025. Many ultra-wealthy individuals have also left the country for Switzerland. Despite Norway's substantial savings, I think it is fair to say that most people feel we've endured a somewhat challenging decade.
Hello! Actually, their GDP isn't doing so well either. According to World Bank data, Germany ranks eleventh on this list, with a GDP growth of 19.3% from 2013 to 2023 (and a growth of only 14.6% from 2020 to 2023). The UK ranks twelfth, with a growth of 19.9% from 2013 to 2023. Have a great day! 😊
@AmazingEuropeChannel Does GDP really matter though? I don't think GDP growth is a good measure of how well an economy is serving the Public, it is a better measure in how it is serving the top of the Merchant Class though. Basic Cost of Living esp Housing Costs; poverty rates; unemployment rates (if very high); mean disposable income are all much better measures. None of these more accurate measures of the real economy have much to do with GDP, do they? Unless if Unemployment Rate is very high.
Surprised Belgium is not on that list. We have an enormous debt ratio compared to our GDP, and then we have taxes on everything. What's really bad is the tax on income. I am not even talking about all the governments we have. It's ridiculous for such a small country. Historically, there were always problems (mainly political) between the Flemish and Wallons. I remember as a Flemish/Belgian that they told us everything would be better if we would have seperate government's. Really??? It's a total mess, and I am not alone. More and more Belgians want 1 national/federal government back and not 6. For example, roadworks are a responsibility for each individual government. However, roads do not stop at the borders of the Flemish and Wallons borders. So now you have these crazy situations that a totally new road (new asfalt, traffic lights...) suddenly stops at a border from a region, and speed limits are different too between the régions.... It's totally crazy. It's not better. 1 federal parliament/government 2 Wallon parliament/government 3 French speaking parliament/government 4 Flemish parliament/government 5 German speaking parliament/government 6 Brussels parliament/government. So in total 6. We even used to have a 7nd (Flemish speaking region parliament/government), but they integrated this government body with the Flemish parliament/government. Every government has autonomy about a lot. However, defence, tax on income is still the responsibility of the federal government... That's crazy
One should also not forget to also look at other factors such as national debt in relation to GDP. Sweden and Denmark, for example, have a very low debt level (30.2 and 34% respectively). Compare with countries such as Germany (62), France (110), Italy (140), Great Britain (100), Spain (109) or, for that matter, the United States (124) and Japan (218).
Hello! Obviously, we are not paid by anyone, and our channel does not take any political stance! Moreover, just take a look at our other videos to see that we have also included Russia in various negative top 10s at times. We have faithfully reported the data from the World Bank. Have a great day! 😊
@@AmazingEuropeChannel Not a very good trick in your answer. The trick is not the data but the nonsensical statements about it. Whether this is just stupidity or propaganda is the real question. Michael_from_EU-Germany, retired Lecturer for national and international economics
EU countries have been better able to resist the economic crisis caused by the COVID pandemic than other regions of the world, thanks to the stimulus measures inflation was lower than in the countries outside the EU. The war in Ukraine and the energy crisis that followed, is now mastered thanks to the diversification of supplier countries and the reorientation of energy sources. While many countries in the world still suffer from high inflation and negative growth, EU countries are returning to growth.
Last year, I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.
Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
Am looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you think I should be buying?
Most are in the woke EU & lefty zone, thank goodness the Uk left this failing club! A global depression to come, but most don't want to even think about this!!
Some of the statements in this video are incorrect. The GDP data are expressed in dollars and are profoundly influenced by the exchange rate between the currency of the European nation in question and the dollar
Denmark is a rich country so relative growth should be small...how much can you consume? Most people have a good work/life balance and it is a high ranking country in most parameters. GDP is not your wealth it is your spending....being efficient gives a lower GDP. 😉 And Norway is a very rich country no matter its GDP growth.
Great content, as always! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?
*GDP is Grossly Distorted Propaganda* What is NDP, Net Domestic Product? What kind of business person doesn't know Gross from Net? NDP = GDP - Depreciation What is that Depreciation? What are Capital Goods? Durable Consumer Goods like automobiles and air conditioners get added to GDP also. What happens to the depreciation of durable consumer goods? There were 200,000,000 motor vehicles in the US in 1995. Where is the data on the annual depreciation of automobiles purchased by consumers since Sputnik? Oops! Has the economics profession of the entire planet been ignoring the depreciation of automobiles purchased by consumers since Sputnik? I wonder what that amounts to. Of course we all know that planned obsolescence does not exist.
Hello! We have faithfully reported the data from the World Bank. If they are wrong, it's not our fault. But one thing is for sure... If the World Bank makes a mistake about the GDP...
@@AmazingEuropeChannelCause you made a CLASSIC amateur move. Looked at ONLY the GDP per capita. If a country decided to cut all it's forests it would have GDP growth of 10% or even 15% a year but would that be good for that country? GDP IS ONLY one measurement of the wealth of a country and a VERY flawed one. We need GDP PPP, MEDIAN and MEAN wealth per adult citizen, HDI index, quality of the roads, quality of the food, quality of the healthcare, is it universal healthcare or not, the level of welfare state and several more factors to determine the REAL wealth of a country.
Whether you devalue your currency or cut wages is the same thing except that most people don't realize this and politicians prefer the first option because most of them prefer to lie than tell hard truths.
GDP is not the real measurement for the way economy works for the people of a country, it’s more a financial thing for banks or shareholders. More and bigger doesn’t reflect happiness, balance and solidarity in society does.
Hello! We have faithfully reported the data from the World Bank. If they are wrong, it's not our fault. But one thing is for sure... If the World Bank makes a mistake about the GDP...
Interesting! I assume the Swedish value is so bad, since the SEK had been devalued a lot? I checked for Sweden and 2013 to 2023 is about 10% after deducting for inflation in SEK.
Free Market Democracy vs. Authoritarianism Over the last 248 years it is obvious that American Culture has become the most successful culture in history. The 1st of the 1st World cultures, the one all others have had to emulate to become affluent 1st world countries. Leftist Cultures on the other hand are the worst of the Authoritarian Cultures, and European Countries have always been more Leftist than America. This creeping Authoritarianism in Europe is seriously damaging GDP growth and has become such a large burden that growth has become stagnated. Islamic Culture is the second worst Authoritarian Culture (Theocracy), and large numbers of Muslim immigrants from their 3rd world hellhole countries have been invading and helping drag Europe down, it is no surprise most of Europe has an illegal alien problem. If Europe is to see a return to solid growth it will have to change its cultural direction away from Authoritarianism, Leftism, Islamism, and towards Free Market Democracy. It doesn't seem likely. 35 years after WWII (1980) and the Marshall Plan, Europeans had a similar Per Capita income to Americans. But Ronald Reagan and the EU changed that with America driving ahead such that Americans now have a 40% higher Per Capita Income. Most Europeans like to point out America's natural resources as an excuse for their national failures, without recognizing that every country has comparative advantages that free markets will take advantage of if given the opportunity. Norway has large oil resources, Japan has almost nothing, and yet both are considered affluent 1st World countries that could be doing better.
What do you think about the economic situation of these countries? Keeping in mind, however, that GDP is not the only measure of a country's wealth.
Norwegian here, I'm a bit surprised that we "aced" the list even before Ukraine. Although Norway's GDP has increased in recent years, this doesn't directly benefit most Norwegians. Since the installation of power cables to Europe, prices in the south and west have remained the same or worse than the rest of Europe. Given Norway's cold climate, power prices are crucial. Norway has essentially become Europe's battery, and it will be interesting to see how this affects our power-hungry industries. The Norwegian krone has also depreciated significantly, prompting the central bank to raise interest rates. It's currently uncertain when they will lower rates, likely not until mid to late 2025. Many ultra-wealthy individuals have also left the country for Switzerland. Despite Norway's substantial savings, I think it is fair to say that most people feel we've endured a somewhat challenging decade.
Hi! Thank you very much for your comment, did show us the Norwegian situation better. Have a great day. 😊
Suprised to not see Germany and The Uk there..
Hello! Actually, their GDP isn't doing so well either. According to World Bank data, Germany ranks eleventh on this list, with a GDP growth of 19.3% from 2013 to 2023 (and a growth of only 14.6% from 2020 to 2023). The UK ranks twelfth, with a growth of 19.9% from 2013 to 2023. Have a great day! 😊
@AmazingEuropeChannel
Does GDP really matter though?
I don't think GDP growth is a good measure of how well an economy is serving the Public, it is a better measure in how it is serving the top of the Merchant Class though.
Basic Cost of Living esp Housing Costs; poverty rates; unemployment rates (if very high); mean disposable income are all much better measures.
None of these more accurate measures of the real economy have much to do with GDP, do they?
Unless if Unemployment Rate is very high.
Surprised Belgium is not on that list. We have an enormous debt ratio compared to our GDP, and then we have taxes on everything. What's really bad is the tax on income. I am not even talking about all the governments we have. It's ridiculous for such a small country. Historically, there were always problems (mainly political) between the Flemish and Wallons. I remember as a Flemish/Belgian that they told us everything would be better if we would have seperate government's. Really??? It's a total mess, and I am not alone. More and more Belgians want 1 national/federal government back and not 6. For example, roadworks are a responsibility for each individual government. However, roads do not stop at the borders of the Flemish and Wallons borders. So now you have these crazy situations that a totally new road (new asfalt, traffic lights...) suddenly stops at a border from a region, and speed limits are different too between the régions.... It's totally crazy. It's not better. 1 federal parliament/government 2 Wallon parliament/government 3 French speaking parliament/government 4 Flemish parliament/government 5 German speaking parliament/government 6 Brussels parliament/government. So in total 6. We even used to have a 7nd (Flemish speaking region parliament/government), but they integrated this government body with the Flemish parliament/government. Every government has autonomy about a lot. However, defence, tax on income is still the responsibility of the federal government... That's crazy
Hi! Thank you for sharing these valuable information that show us the situation better. Have a great day. 😊
One should also not forget to also look at other factors such as national debt in relation to GDP. Sweden and Denmark, for example, have a very low debt level (30.2 and 34% respectively).
Compare with countries such as Germany (62), France (110), Italy (140), Great Britain (100), Spain (109) or, for that matter, the United States (124) and Japan (218).
Who paid for this crappy piece of propaganda? Stalin, Mao or Ayatollah?
Wake up.
Hello! Obviously, we are not paid by anyone, and our channel does not take any political stance! Moreover, just take a look at our other videos to see that we have also included Russia in various negative top 10s at times. We have faithfully reported the data from the World Bank. Have a great day! 😊
@@AmazingEuropeChannel Not a very good trick in your answer. The trick is not the data but the nonsensical statements about it. Whether this is just stupidity or propaganda is the real question.
Michael_from_EU-Germany,
retired Lecturer for national and international economics
joe biden
EU countries have been better able to resist the economic crisis caused by the COVID pandemic than other regions of the world, thanks to the stimulus measures inflation was lower than in the countries outside the EU. The war in Ukraine and the energy crisis that followed, is now mastered thanks to the diversification of supplier countries and the reorientation of energy sources. While many countries in the world still suffer from high inflation and negative growth, EU countries are returning to growth.
Last year, I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.
Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
Am looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you think I should be buying?
Cryptocurrency/stock investment, but you will need a professional guide on that.
Cryptocurrency investment, but you will need a professional guide on that.
Facebook 👇
Most are in the woke EU & lefty zone, thank goodness the Uk left this failing club!
A global depression to come, but most don't want to even think about this!!
Hi! Thank you for sharing your valuable perspective. Have a great day! 😊
Some of the statements in this video are incorrect. The GDP data are expressed in dollars and are profoundly influenced by the exchange rate between the currency of the European nation in question and the dollar
Denmark is a rich country so relative growth should be small...how much can you consume? Most people have a good work/life balance and it is a high ranking country in most parameters. GDP is not your wealth it is your spending....being efficient gives a lower GDP. 😉 And Norway is a very rich country no matter its GDP growth.
GDI is more important to the ordinary jo.
4:35 This is exactly what the Swedish experts were worried for when they advised the Swedes not to vote for Euro in their referendum in 2003.
GDP is not an accurate indicator. Wealth distribution and median purchasing power are. Much better indicators
Great content, as always! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?
*GDP is Grossly Distorted Propaganda*
What is NDP, Net Domestic Product?
What kind of business person doesn't know Gross from Net?
NDP = GDP - Depreciation
What is that Depreciation? What are Capital Goods? Durable Consumer Goods like automobiles and air conditioners get added to GDP also. What happens to the depreciation of durable consumer goods?
There were 200,000,000 motor vehicles in the US in 1995. Where is the data on the annual depreciation of automobiles purchased by consumers since Sputnik?
Oops! Has the economics profession of the entire planet been ignoring the depreciation of automobiles purchased by consumers since Sputnik? I wonder what that amounts to. Of course we all know that planned obsolescence does not exist.
What foolish and MOSTLY wrong video. 😂
Hello! We have faithfully reported the data from the World Bank. If they are wrong, it's not our fault. But one thing is for sure... If the World Bank makes a mistake about the GDP...
@@AmazingEuropeChannelCause you made a CLASSIC amateur move. Looked at ONLY the GDP per capita. If a country decided to cut all it's forests it would have GDP growth of 10% or even 15% a year but would that be good for that country? GDP IS ONLY one measurement of the wealth of a country and a VERY flawed one. We need GDP PPP, MEDIAN and MEAN wealth per adult citizen, HDI index, quality of the roads, quality of the food, quality of the healthcare, is it universal healthcare or not, the level of welfare state and several more factors to determine the REAL wealth of a country.
Whether you devalue your currency or cut wages is the same thing except that most people don't realize this and politicians prefer the first option because most of them prefer to lie than tell hard truths.
GDP is not the real measurement for the way economy works for the people of a country, it’s more a financial thing for banks or shareholders. More and bigger doesn’t reflect happiness, balance and solidarity in society does.
Surprised yes… Why, because it’s not correct!!!
Hello! We have faithfully reported the data from the World Bank. If they are wrong, it's not our fault. But one thing is for sure... If the World Bank makes a mistake about the GDP...
GDP is a false metric. It doesn't measure production alone. Economic activity doesn't need to be productive but that is what GDP measures.
up
Where is Portugal?
Hello! Portugal is in sixteenth place, with a GDP growth of 26.8% from 2013 to 2023. Have a nice day! 😊
Ursula and the Greens took care of it for us
Interesting! I assume the Swedish value is so bad, since the SEK had been devalued a lot? I checked for Sweden and 2013 to 2023 is about 10% after deducting for inflation in SEK.
China's economic problems are a part of this too. EU countries with large exports to China, most notably Germany, have found that spigot has dried up.
Free Market Democracy vs. Authoritarianism
Over the last 248 years it is obvious that American Culture has become the most successful culture in history.
The 1st of the 1st World cultures, the one all others have had to emulate to become affluent 1st world countries.
Leftist Cultures on the other hand are the worst of the Authoritarian Cultures, and European Countries have always been more Leftist than America.
This creeping Authoritarianism in Europe is seriously damaging GDP growth and has become such a large burden that growth has become stagnated.
Islamic Culture is the second worst Authoritarian Culture (Theocracy), and large numbers of Muslim immigrants from their 3rd world hellhole countries have been invading and helping drag Europe down, it is no surprise most of Europe has an illegal alien problem.
If Europe is to see a return to solid growth it will have to change its cultural direction away from Authoritarianism, Leftism, Islamism, and towards Free Market Democracy.
It doesn't seem likely.
35 years after WWII (1980) and the Marshall Plan, Europeans had a similar Per Capita income to Americans.
But Ronald Reagan and the EU changed that with America driving ahead such that Americans now have a 40% higher Per Capita Income.
Most Europeans like to point out America's natural resources as an excuse for their national failures, without recognizing that every country has comparative advantages that free markets will take advantage of if given the opportunity.
Norway has large oil resources, Japan has almost nothing, and yet both are considered affluent 1st World countries that could be doing better.