How Europe Sabotaged Its Own Economy

[@EconomicsExplained]

Go to ground.news/Explained to save 40% on the same unlimited access Vantage plan I use to get my news on the economy, and the world.

[@Machete-o2h]

Great title

[@komisiantikorupsikoruptord6257]

8:53 In Europe people live longer because they are not killed by private health insurance companies.

[@LRRPFco52]

@@komisiantikorupsikoruptord6257 Europe has more natural foods and very strict food controls, with a lot of staples made under national protectionist markets, keeping the life-giving factor closer to consumption. In the US, food is transported quickly over vast distances with lots of chemical intervention for crop yields and preservation, so there is hardly any life factor in it, and lots of toxins. This is why obesity and sickness contribute to a slightly-lower lifespan, which is extended with a wider array of costly medical interventions.

[@Sergio_Loureiro]

13:19 An exception *NEVER* proves a rule.

[@Mark-id8ff]

@@komisiantikorupsikoruptord6257 May or may not be true -- According to current U.S. insurance actuaries the average current U.S. male or female who is a non-smoker, non-alcoholic, and not morbidly obese has a current life expectancy of 93 years.

[@bionicle37]

10:37 germany scrapping all nuclear power plants was probably the worst decision they made since invading poland

[@j4genius961]

*Since invading Russia...Poland and France went pretty well

[@Tokyo393-yv6ql]

The green energy party turned into a dooms day cult.

[@xiphoid2011]

yeah, it was such brain dead move. It's such an obviously a self sabotaging move that you have to wonder did Russian agents infiltrate the German government.

[@derpidius6306]

​@@j4genius961It led to a death war with the UK, a fight that would destroy the Luftwaffe and potentially the loss of Africa

[@nothereandthereanywhere]

@@j4genius961 Invading Poland led to WWII, which decimated Germany. So no, Poland was the starting point. Russia was a catalyst when Germay's luck has changed.

[@geohhoeg8630]

I’ve heard commentators say “without immigration labor costs will contribute to inflation” and then tell us that immigration does not keep wages down for low wage jobs. I do like this channel though, not trying to take a crack at it.

[@julianshaw949]

Shhhh don't realize that wages are also a victim of basic supply and demand mechanics. Having low income workers compete for the same job totally doesn't affect wages! CEOs would totally pay them the same as locals

[@davidd6660]

right, the messaging is clearly bullshit.

[@Phyt5]

@@julianshaw949immigrants also create jobs, the labour market is not a zero sum game, immigrants go to get a haircut meaning you need more hair dressers, they need food meaning more agricultural workers, they need somewhere to buy that food meaning more supermarket workers, immigrants can help incresed jobs, you are looking at it at a simple minded way

[@BrightWendigo]

Wait till you hear what doubling the labor force with women did

[@KnownNiche1999]

This entire video just promoting old immigration talking points is so annoying

[@Disc1]

There are many reasons why there aren't enough skilled workers to build houses in England, and it's not because of a lack of immigrant workers.. Many European countries share this problem. The education system tends to favor academic paths over vocational training, significantly reducing the number of students who pursue construction and related trades. This bias contributes to a negative perception of construction careers, shaping public opinion and career choices. This is the biggest factor by far.

[@PKhaganate]

Germany seems to value vocational training a lot tho

[@iliketoast-q9b]

Companies are just as much to blame. Here in Germany getting a degree is becoming a necessity for jobs that previously only required vocational training. Additionally companies and businesses have been cutting apprenticeship-programs and have been training fewer and fewer people for past few decades while also letting wages stagnate. Now they complain they can't find people and that "nobody wants to work anymore", funny how that works. Parents and teachers know that, so speaking from their perspective, why would you advise a student to pursue a career in the trades when they'd be better of getting a degree?

[@jonathan2847]

Intelligent don't get into construction. That's a reality of it. Not many Cambrigde graduates founding construction startups.

[@alexanderschmoldt2982]

@@PKhaganate yeah but too few. the number of young people decreases but the share of people trying academics increases. Often either easy bullshit degrees or/and failing at others.

[@alexanderschmoldt2982]

@@iliketoast-q9b many arent better of. you know the average person, half of them are dumber. i was too times at university first for my medical degree later a second time for a degree in political science. and i can tell you many students nowadays cant/dont want to read much. 10 page a week per course is tooooo much. since teacher are rated/getting feedback. and of course because beeing nice and respecting feelings is not always but too often more important than acutally training. Many get either degree and cant do much with it or fail at the degree. the amount of social science degrees has also increase among all degrees.

[@je3996]

"Europe today is a museum where you go to eat" - Anders Borg, Swedish Finance Minister

[@geoms6263]

and Japan is a nursery home

[@MrTatiaan]

all the rules about carbon makes it unable to do anything.

[@hamzamahmood9565]

​@@MrTatiaan If they were so concerned about carbon then why the push against nuclear energy? I just don't understand it.

[@saicooldude1]

I’m just going home and

[@adrianocs4]

​@@hamzamahmood9565yeah, let's end carbon dependency, by exporting all our industries to china.

[@mindyourbusiness4440]

I am an Engineer currently working in Germany and I'm just happy you addressed every single point I have thought about. Yes everyone who is good enough in my field is looking for an opportunity in the US, specially when you pay half your salary to social benefits and pension you know for sure the declining pobulation won't be able to pay it back to you anyway

[@mrshhjj8899]

But in the USA you will have to put 20-30% of your salary apart to get any form of pension also. You should speak to your colleagues that made the jump :P

[@mindyourbusiness4440]

@mrshhjj8899 yes but I'm paying 30% for my future self not a failing unsustainable pension system that I'm not getting anything out of, which means I have to save even in europe. I mean I am saving some in the form of investments even in europe, but I just know I would be able to save at least 4x that amount in the US. That being said I still prefer europe just because I like europe and its vibe. All I'm saying is that the numbers say USA is better

[@sadbeanxx]

@@mindyourbusiness4440I don’t know man, really depends on where you go in the US. some states have state tax, so you’re paying state taxes, federal taxes, and taxes when you purchase things, plus once you buy a home there’s gonna be property taxes, and good luck with that, because the average house in some parts of the US is approaching almost half a million dollars. I’m forced to pay into systems I don’t believe I’ll ever benefit from either. it seems that most developed nations are heading down the same path, and I don’t know if swapping around is going to help any of us. there can’t only be a handful of countries that are actually decent to live in- we should all be standing up and fighting for reform and change in our communities. there’s 8 billion of us, we’re not all gonna fit into Europe or that States. we can only run away from the issues for so long before we’re forced to deal with them.

[@willinton06]

@@mindyourbusiness4440the Numbers say you’ll go bankrupt if you get a cough, stay in Europe

[@EditioCastigata]

As engineer, abroads you can make double easily. Since higher cost of living doesn’t scale with your income, you can save up way more in the same time. So much so, you’ll be able to afford a house in Germany sooner just to rent it out! In old age, you’d have to hope Germany’s state pension system will pay at all, or pay you the same sum or anything really if you chose to relocate to another country (like to afford your lifestyle). Saving up yourself and investing you won’t need anyone’s permission. And, best chance, would still have that house. Cheers from another German and emigrant this year. :-)

[@moyo2850]

One thing that i think this vid missess is the staggering cost of living in most of these nations, The price of housing is just batshit insane, and is an underlining issue for all this stuff. Even adjusted for inflation the price of a home has gone up 500% in the past 40 years in some nations. How are people supposed to spend money if every dime is takin by a land lord.

[@Entertainment-]

Nothing compared to Canada.

[@DeviousDumplin]

The level of youth unemployment in Europe is also staggering. You can't get a job until your late 20s and when you do you certainly can't afford to live on your own. It leads to generations of people who have to live with their families in order to afford to just break even. If that isn't a negative quality of life I'm not sure what is.

[@gcc2313]

He briefly mentioned increased house prices.

[@santostv.]

⁠@@DeviousDumplinYou can start working at 14-16 years old, a lot don’t but you can.

[@DrakonPhD]

@@DeviousDumplin Living with families isn't inherently a bad thing, culutrally its been the normal in many European countries for generations, and I feel it can help young people find stable footing and build up saving... IF they can get a job. But with youth unemployment it is a recipe for disaster.

[@prithvikhanna166]

"EE06 41 ENG With Ad How Europe sabotaged itself" is a wonderful title

[@laMoria]

magic xD

[@GX9900A]

Yup XD

[@EconomicsExplained]

Half of KZbin is bot's these days anyway. I thought we may as well speak their language.

[@aebel.shajan]

Wow only been nine minutes lol

[@zoomocracy6281]

@@EconomicsExplainedOh god EE is becoming aware!

[@iliasiosifidis4532]

Proud Greek here working more that US citizens, making 14k a year :D In EU is harder to switch countries and the differences between them, along with the language that is also different per country, makes the whole continent slower to adapt that the USA

[@gaarakabuto1]

That's not true, when it comes to skilled labour Europe has been very effective at moving individuals around the continent and in many cases more so than the US does. The problem is that the EU is struggling to do that with immigrants, unlike the US. Because of all the problems you mentioned, even though the working environment nowadays will be in English and everything is international, the requirements for visas and resident permits aren't. As long as you know English and especially if you are willing to start learning a new language you have a guarantee to move around Europe with European ID/passport.

[@LarthV]

@ gaarakabuto1 You are ignoring the social aspect. When you do not speak the local language there will sooner or later be a barrier that you just cannot break with English alone, and after a few years you will either learn the language or leave in frustration…

[@reaperz5677]

Is that really true? English is pretty much the lingua franca of the EU. It's not to the level of "if you know it you can survive in the country without speaking it" *yet*, but it's fast approaching that level, when younger people start becoming a larger share of the population (since younger people speak English more fluently).

[@gaarakabuto1]

@LarthV I mentioned, especially if you are willing to start learning a new language for that reason specifically. Some countries though you can fully live on without knowing the local language.

[@VTh-f5x]

How is that even possible? 14k is too low. It is less than minimum wage in Greece.

[@mal_dun]

A reason why so many people don't associate Europe with innovation in IT is not that it does have no innovation there but most big companies are B2B (Business to Buisiness) and not B2C (Business to customer). ASME was just a prime example of this: No one knew that company till just recently, and also because it produced for chip manufacturers instead of consumer stuff. I bet most people don't know that two of the largest tech companies are in Europe and are SAP and Dassault Systems. Bet most heard never of them either. SAP makes databases and logistic software, Dassault makes software for CAD and simulations, so both again do B2B software. But there are more like Bosch or Siemens, which most people don't associate with software, because their software runs on machines not on smartphones.

[@demon2441]

My job uses SAP and I never knew it was European. About to switch to another ERP tho.

[@ihl0700677525]

SAP, and Dassault Systems are indeed very large and successful tech/IT/software companies, but not exactly the most innovative and promising ones. Their growth potential is very limited compared to, let's say, AI and robotics, which currently blossoming in the US and China. Pretty much on brand with EU: large, reputable, and stable, but stale / is stagnating.

[@uryagenmusic]

SAP is the worst software ever written. I wonder how they could live so long.

[@koentjuh782]

Dude take one fkn minute looking at top 100 businesses in market cap and you know this comment is complete dog sht

[@Comando729]

@@uryagenmusicI despise SAP it’s just poorly designed

[@ulikemyname6744]

The main issue that we have as a Union is that we rush out the problems without rushing the solutions. A good example is our energy. We are very quick to phase out coal plants and even nuclear plants, which thanks God we now recognize as a clean source of energy. Yet, after Germany phased out its nuclear plants, I kinda don't see where enough solar panels, turbines and battery farms replacements were built. In fact, Germany has one of the most expensive electricity costs in the world. How can an industrial nation keep up with that? Our best are moving to the US because the nation is super pro business no matter the political party.

[@TheGreaterGrog]

You have expensive electricity because of the solar panels and wind turbines. They produce about 20-25% of the time, at awkward times, and often get paid no matter how useful their power is at the time. Solar/wind % correlated directly with average power prices because when they fail, and they fail often/widely/in hard to manage ways, you have to buy it from somewhere else. Germany recently disrupted the power market of half of Europe thanks to needing to buy power from other countries. Nobody wants to build the battery farms needed, assuming that sufficient batteries exist and that you can use them without a fire destroying the whole facility.

[@alanlight7740]

You are correct in your assessment but I'm hoping Eavor's geothermal project in Geretsried will turn out well and be commercially viable. That at least would establish a precedent that could be scaled up and provide renewable baseload power _and_ heat at high latitudes.

[@iliketoast-q9b]

Nuclear power while being clean is also very expensive and didn't have a big share in Germany's energy sector. Cheap gas from russia kept prices down so the conservative government could avoid investing in our infrastructure and renewable energy sources, all thanks to the debt brake and the economic illiteracy of conservative and neoliberal politicians. When the war escalated the gas was cut off and prices shot up, but we never had a single blackout and finally there was hope after we finally voted out the conservatives. But alas with a neoliberal finance minister, the debt brake and the german obsession with austerity, progress is still slow. Investing and subsidizing with public money is frowned upon as "Planwirtschaft" or planned economy and people still think the state is funded by taxpayer's money, when it's exactly the opposite. Without debt there can be no wealth or a thriving economy.

[@ulikemyname6744]

@@alanlight7740 No doubt clean and sustainable is the way to go but why rush the abolishment of non-sustainable sources when we can't rush the sustainable future?

[@ulikemyname6744]

@@iliketoast-q9b Nuclear was pretty big in the 90s. By 1995, it was about 30% of the mix

[@CarterSimon777]

Here before title is changed

[@EconomicsExplained]

Someone spilled coffee on the upload button I guess.

[@Deenver]

What was the original title?

[@komisiantikorupsikoruptord6257]

​@@EconomicsExplained8:53 In Europe people live longer because they are not killed by private health insurance companies.

[@Global-yt]

@@EconomicsExplained more like they copied a bit too much off the front end

[@newtonpritchett9887]

Here before ‘engergy’ is fixed

[@mygeetos1416]

The thing this video missed is that small businesses and startups are often the driver of economic growth. Europe has strict regulations and high taxes on small businesses, while the us has made setting up a company easy and supports entrepreneurs. That has led to a much higher rate of new companies being founded in the US, forcing more competition and increasing economic output

[@ac1455]

Not too sure about the small businesses that remain small businesses. It seems like Europe has more small and medium companies per capita. I think it’s more the startups that seek to massively expand quickly that drives growth more.

[@Commonsense-u1h]

It depends on the country, in France it´s actually pretty easy to set up a business. If you´re self employed, you have no social security contributions for the first couple of years.

[@capricousfort]

​@@Commonsense-u1h What do you mean you don't pay social security contributions for the first two years ? You pay them through your tax, and you're still taxed for the first two years.

[@redman_10t39]

To my understanding, Denmark actually has more new businesses per capita than the US.

[@tonycollyweston6182]

You are mixing EU with individual countries.

[@basvriese1934]

'Europe's population has been growing' 4:09 ,uhm is it just me or does that look like there has been basically no change at all?

[@reaperz5677]

Yeah he probably forgot to change the numbers in that graphic. This video has a lot of mistakes, honestly. Like "Enegergy".

[@jasonmadinya7759]

"aLwaYs sTart yOuR y-aXis at zERo!" is the problem here, there is absolutely no reason for the yaxis to start at zero here in this plot, perhaps if the yaxis had been properly set then it would show growth.

[@hamzamahmood9565]

It's "growing" at 0.1% per year by importing millions of migrants. The native European population is on the decline

[@Sam-sl1uy]

@@basvriese1934 lowering its iq by immigration lol

[@Kardashian_merchant]

No the EU population has been declining

[@left4deadian]

Germany shutting down its nuclear power plants only to end up depending on russian gas is one of the dumbest moves ever.

[@elsemmlo7820]

Bruh dont comment if you dont know anything. The russian gas was so critical because of heat production not electricity, nuclear power does not produce heat. They have nothing to do with eachother...

[@letsRegulateSociopaths]

It actually happened the other way

[@cte4dota]

Germany is not only one depending on russian gas. Nuclear power is for energy and Gas mostly for Industry.

[@mynameisben123]

@@letsRegulateSociopathsso they became dependent on Russian gas while they still had their own nuclear power, then they shut down their plants? That’s somehow even more absurd IMO. Self-ownage.

[@SillyWilly-vp9pc]

It's actually worse, because nuclear is electricity and gas is usually used for heat. There is two main types of industry. Process industry makes chemicals, pharmaceutical products and so on (liquids, gases and powders) and they are very affected by the cost of heat production. Manufacturing industry is "making things" (like car parts or machine parts, anything where you mechanically work on some things to make another thing) and they are usually affected by electricity cost because there are so many motors moving heavy machines. The fact that Germany fucked up in both regards means that it is crippling both sectors of industry.

[@lazywallstreetnews7234]

I went to Europe for the first time in 2023 and remember thinking to myself, ‘if there’s an economic crash, I’m pretty sure it’ll start here’ And my opinion of this has everything to do with the mindset of the people and the attitude towards economics in the continent than anything else.

[@Museoman]

Thanks for sharing the new “EE06 41 ENG With Ad” episode with us.

[@zakiahmedi7083]

5:39 yo I’m sorry EE but I hate when people say that they fill low income jobs because that’s a bad thing as it makes business adapts to low skilled workers “AN ECONOMY CANT RUN FROM UBER DRIVERS “

[@Returnofthejedi2000]

Well done … I believe it’s called a race to the bottom…

[@santostv.]

Making the guys work for the gig economy or agriculture because they often don’t know the language,don’t adapt,are exploited, have bad living conditions or even living in tents making cities look even shttier because they have no family support here ect.

[@jessicalacasse6205]

usa builded new york boston with famine ridden irish England did not want while skilled tech bros destroyed san francisco ill take low wage worker over economic tourist that will flee with the money anytime just look elon musk ran from south africa and will run from usa he don t care about the place he ll just move to better pasture ...

[@phunweng962]

On the other hand, if the wages is unaffordable for a business it goes bankrupt and it employs no one. It is literally the worst outcome for the economy.

[@SauceAppleEater_2885]

Yeah that's called a free market. Let's stop doing communism for the failed corporations

[@H3224rad]

Everyone's going on about the title gaffe, but no one's mentioned the word "Engergy" at 1:41.

[@Deenver]

Yeah I caught that lol 😅😂

[@davidcooks2379]

Ingergy after correction. I think people don't watch, just listen

[@arunkumarbalakrishnan8423]

Saw that too. Was going to point it out.

[@andguy]

Yeah especially this channel I mainly listen

[@maxheadrom3088]

I have a feeling your comment is not a joke. Am I right? Thanks!

[@technology2598]

One issue that isn't talked about often is how companies keep demanding "more and more" out of people for "less and less". I can understand trying to optimize costs and savings but when your applying it to things that are meant to incentivise people to work "harder" and "longer" for "less and less", people just won't bother cause the incentives aren't enough or there anymore for what is being asked of you. And thus, nobody works hard anymore for it only increases the amount of work that get's thrown at you in the end for absolutely no benefit.

[@zSleepless]

I feel like this isn’t really based in fact because the data shows that, assuming you’re American, we’ve worked less and less over time. From 50 hours per week in the 1920s, to 45 hours in the ‘40s, 42.9 hours in the 80’s, 38.7 hours in the 2000s to 34.4 hours now. I’m not sure what you mean when you say companies are demanding “more and more” when labor time has gone down. We probably need to be more active in the business world nowadays to get high-paying jobs, and we probably have a worse work/life balance due to technology, but that’s all that comes to mind. Also, why are you putting quotes around everything?

[@Meitti]

Have to also remember that US and most EU countries measure employment rates differently. EU countries tend to count all NEET and homeless in their employment rates as well, US doesn't. US only counts in people who have registered themselves as job seekers. I bet California's employment rates would be much more grim if their census would count in all the homeless people as well.

[@Neomagam]

As far as I can find information, the US does count homeless people in the employment rate if they are employed (15% of homeless) or are unemployed but seeking employment (25%). The other 60% of homeless people are not counted due to being non-participants in the labor market, i.e. they are disabled and/or elderly. Besides these facts, the total homeless population in the US is less than 0.1% of the population, so we are taking about a difference a couple hundredths of a percent at best. I'm all for criticizing the US, but lets make sure it remains accurate. Instead of criticizing some extremely minor statistical differences, just criticize the atrocious ways the US treats its veterans, disabled people, and elderly. Also, for future reference, New York, Hawaii, and DC have WAY higher homeless rates than California.

[@przemyslawskrzypczak5210]

Poland as well counts people who have registered. Im preaty sure we are not alone in eu.

[@RiteMoEquations]

The economic indicators measure the same statistic. If they didn't, the employment figures for different economies wouldn't be comparable.

[@XanderVJ]

You literally made that up.

[@seanthe100]

It still adds up to $4.1 trillion for California alone...

[@senjaz]

It's good that you mentioned ASML, but there are other examples such as Novo Nordisk in Denmark and ARM in the UK (I include the latter because you flip from saying the EU to Europe. The terms are not interchangeable. The UK is very much a part of Europe even if it is no longer part of the EU)

[@abdiganiaden]

UK left you and you’re still groveling.

[@sophieedel6324]

The problem with ASML is the US has stolen most data from ASML and has now set up a competing company. "US Targets ASML With $1B Lithography Center in Albany, New York"

[@alphamikeomega5728]

Most people in the UK think it was a mistake to leave the EU. Seriously, who thinks Brexit went well? A -4% hit to the UK economy in exchange for precisely nothing! Because the UK will rejoin the EU just as soon as the boomers start dying off, it's right to consider the UK a European country.

[@dianapennepacker6854]

Yeah, and ASLM has 5,000 suppliers. Forgot the ones who are simply just as dominate in their respective fields. Carl Zeiss though I feel is one. Then you have NTS group. Many in Europe. A few in America like Cymer. Basically takes a lot of countries Everyone talks about TSMC. Yet I would say ASLM is so much further ahead against its competitors. Truly a multinational company with how they scout talent, and Europe is perfect for that.

[@SimoneUrbinati1]

another example is aerospace... with Airbus leading against Boeing... Actually, Europe only lacks innovation in IT (which is currently in a gigantic bubble). But this video contains so many typos and errors that...who cares

[@RobbieEagle955]

The conclusion feels weak and unfocused compared to the depth of the analysis earlier in the video. It fails to clearly tie together the core points about economic stagnation, brain drain, and structural challenges raised throughout the discussion. The mixed messaging around productivity versus quality of life seems contradictory rather than insightful, and the final remarks feel more like a deflection with the mention of another video instead of offering a strong takeaway or call to action. Consider reaffirming the central argument more clearly: Europe faces structural challenges that risk long-term stagnation unless proactive reforms are made. Ending with a more decisive statement, perhaps emphasizing the stakes of continued inaction, would leave a stronger impact. Example suggestion: "While Europe's quality of life remains strong for now, persistent challenges like stagnation, brain drain, and regulatory hurdles risk undermining that stability. Addressing these issues with innovation and policy reform is essential to ensure long-term prosperity and prevent further decline." This would better align the closing with the video's core narrative while keeping it memorable and impactful.

[@nightbit_]

this!!!!!!!!!

[@augustussculpting9805]

Don't bother, this channel is bottom of the barrel analysis. They just scrape together headlines and bunch them together into a video.

[@matthewbarabas3052]

a conclision isnt nessesary or wanted if you paid attention to the rest of the video....

[@MagwellB]

Is this an AI written comment?

[@stooge_mobile]

@@MagwellB you know humans can do this analysis, right? AI wouldn't give you any meaningful reflection on the topic, because it can't watch the video and understand what's being said.

[@Ancor3]

When he started talking about highly educated people from the EU moving to the USA to make more money, I felt like the YT algorithm has been peering into my brain to give me this recommendation.

[@01AnthraciteXJR]

Trust me as someone who has lived in both places (currently in the US) unless you are already well into a career that would make you really good money here in the US and I'm talking over 100k at least, don't do it. I'm currently planning on the doing the opposite and moving back to Europe.

[@walidoutaleb7121]

​@@01AnthraciteXJRit heavily depends where in the eu and us you move and are from

[@letsRegulateSociopaths]

Just know that if you're working on a visa, you are basically an indentured servant... Can't quit, can't leave, and the employer has full power over you. This needs to be changed immediately.

[@Lancelotxxx]

unless you can make 150k a year minimum don't go there. all the nice places are cray expensive. no free healthcare and public services are kinda garbage. also the way it work, it tigh you h1-B visa to your employer,so your are basically his slave cause if you leave him he know you cooked.

[@JP212nyc]

@@01AnthraciteXJR that's exactly what i did after living in the US for 20 years, now back in Germany. Not perfect, but definitely better than the states. Good experience tho.

[@Morpheus-pt3wq]

I think the greatest issue nowadays is the massive reliance of EU countries on automotive industry. On top of that, they seem to be currently focusing on reducing lifetime of cars and increase the cost. Which will only make cars less available for ordinary people, causing demand for new cars to eventually plummet. I still hope someone will do something to prevent Europe from becoming Detroit 2.0, which will be a disaster of massive scale. Then, there are the energy problems. Recent events regarding lack of wind in Germany led Sweden and Norway to cut electricity supplies to foreign countries, because that lack of wind was causing their local electricity prices to skyrocket. Since it´s now winter, there is lack of sunlight too, meaning reduced or nonexistent output from solar plants too. Germany is now the classic story of a country, that became so rich and prideful, they´re destined to fall. Given how the entire EU economy is tied to their own economy, they will drag everyone down with them.

[@Hosenanzugtasche]

Just eating up assets that were there when the people currently in power came to be. And listening to those people as if they had a clue.

[@PASH3227]

Europe's largest industries are oil and cars. Oil is a dying market and European cars cannot compete with Korean, Chinese, and even American EVs. This is also why European allies were mad with the US investing in alternative energy through the Inflation Reduction Act. Once the US stops importing European cars and oil products, EU is screwed!

[@Pakmei11]

Instead of focusing on immigration, they could have chosen to prioritize improving the lives of their own citizens, which would likely have encouraged higher birth rates. Reducing economic inequality could also contribute to higher birth rates. Thomas Piketty points out that the period between the 1940s and 1970s, a time of relative economic equality in many advanced countries, saw higher birth rates.

[@vitas75]

Nobody here is focusing on immigration. It just happens. Mostly because the Middle East and Africa are nearby with their plethora of wars and low income. We are not asking people to immigrate, they just do. Not to mention that Europeans have some of the best quality of life in the world. Even in countries like Poland or Hungary lifeforms an average person is better than in the USA.

[@johnsmith-fk7fw]

the "elites" that own the media among other things pushed for women to work more to boost stock prices and branded it as something cool. fastforward, women are now slaves to corporations and unhappier than ever, with no children only emptiness. its not about improving the average life of a person, as even wartorn countries have higher birth rates, but about not working all day and having children in a family to keep growth going. but now our future is sitting alone at an elderly care facility being abused by middle eastern immigrants who we can barely speak the same language to ... lol

[@My_Old_YT_Account]

​@@vitas75how about not letting them in?

[@bunnystrasse]

@@My_Old_YT_Accountstop immig!

[@shouliee]

@@My_Old_YT_Account as soon as european countries stop stealing their resources and pay full price for said resources and those “immigrants” would never need to leave their own countries. history really needs to be an important subject for everyone smh

[@b-art6098]

I’m not sure what kind of immigration contributes to the economy? Whether legal or illegal. What I see is that immigrants on work visas often send most of their earnings back to their home countries. How does this benefit the economy if the money is being drained from the country?

[@godbatbat]

How about they pay tax? (I'm dumb so if this sounds stupid please don't bully me)

[@b-art6098]

@@godbatbat Why would I bully you? Immigrants mostly work low paying jobs meaning lower taxes so the overall contribution to economy is small. Most immigrant jobs are delivery jobs, factory workers, drivers, garbage men, construction, low paying jobs.

[@santostv.]

@@godbatbatmin wage workers barely any taxes only ss contribution , governments also don’t account for the fact that despite increase ss contribution s in the future they will also get a pension and will likely move to their country of origin with it so the money is out of Europe while being paid by eu governments, some have kids using public services and we are spending money without knowing if in the future they will stay or emigrate, despite somewhat stagnant population immigrants mostly move to the same place meaning it increases demand on infrastructure that often can’t cope with that many people, eu government are basically subsidizing salaries for companies and this is about people that work the ones that don’t are a bigger problem, immigration is needed there’s no doubt but mass immigration isn’t and will continue to increase tensions and people radical ideas because they feel ignored and mocked then some parties will continue taking advantage of it, divide and conquer is what politicians like seeing commoners infighting for crumbs

[@forestreee]

The highly skilled kind. Look at the people working in hight level roles in big American companies, a lot of them are immigrants. A lot of American scientists and inventors have been immigrants. At a certain skill level, you can’t think in terms of money sent vs money received. How much is one Verner Von Braun, Albert Einstein, Nikola Tesla, or Sundar Pichai worth? Or the thousands of immigrant doctors who ensure that people are healthy enough to work, how much would the economy lose if they all decided to go back?

[@b-art6098]

​@@forestreee But you are making a point from the video. Skilled people from Europe work for U.S. companies, including me, while mostly low skill immigrant workers live in Europe. What is the contribution to GDP of a garbage collector, delivery men, or low-skilled factory worker? The topic is the economy, not whether the garbage collector job is important-and of course, it is.

[@asliceofloaf1984]

Just leave the USA out of all GDP comparisons. They practically duplicate money with fractional reserve banking, money printing, and exponential stock market growth. Even the slightest research will reveal that vanishingly little of that money actually goes into the hands of US citizens, and actual living standards are pretty much the same between the US and Europe, with Europe even pulling ahead in regards to public projects like transportation and healthcare.

[@EditioCastigata]

GDP represents the output in goods of a nation (measured in USD), not what they can ingress and absorb due to a cheated currency. Though you’re right in that GDP and household income are divorced (since 1960 or so). And since GDP also contains “financial products,” it’s a suboptimal metric even for company welfare.

[@iliketoast-q9b]

I partially agree, though printing money is not the evil it's made out to be. A limited money supply would make the economy a zero-sum-game, very bad idea.

[@calvinhoward3808]

@@iliketoast-q9b can you expand on how it creates a zero-sum-game? I'm not that well versed in econ, but I've taken some basics.

[@fangjiunnewe3634]

Those are practiced everywhere tho, like fractional reserve banking is how all banks work, printing money is how all fiat money works, and exponential stock market growth is what "fiduciary duty to the shareholder" is, and is the same everywhere, even in China. And none of these relate to GDP anyway

[@phunweng962]

You can’t change the fact that EU is absolutely out-dated in innovation. I left it with my business because the high tax doesn’t justify the benefits anymore. If you push away all the people that’s smart about money or highly productive, you stagnant and become more and more irrelevant soon. Like the video says, it’s very hard to find a company in Europe that’s barely matter.

[@gregorluft81]

In economics, labour is a core input to any production function. In Europe this is especially true, as for a long time, the comparative advantage of Europe was not driven by low-value added natural resources, but by high skilled labour force in R&D and a wide range of industries. Clearly, having so many people go into pensions and not having migrants of the last decade well integrated by measure e.g. of average education levels, is leading to structural problems. BUT: Dont just go after stock prices to assess a countries economic strength. First of all, private businesses are not counted e.g. Ingelsheim a major Pharma player from Germany. Second of all, an economy might be more robust if it relies on a diverse mix of companies and not just a handful of mega conglomerates. I am concerned that many of the very best European young professionals choose to move and work in the UK and especially the USA. This was very clearly stated in the video but can really not be underestimated as an economic force

[@davidsmithy123]

UK!? UK is in an even worse state than the EU due to mass migration and Brexit.

[@DeviousDumplin]

I think the stock prices more speak to the relative attractiveness of investing in US businesses vs European. The more meaningful measure would be median household income, and that still doesn't look good for Europe. Especially when you include the cost of living and PPI.

[@santostv.]

The continent is full of small to medium size companies and even some big companies are owned privately by the founding family, to compete with the USA in stock market value we would need to allow eu wide monopolies something most Europeans are opposed to and rightly so.

[@kubluu]

Do you really think "poor integration" is the problem?

[@sophieedel6324]

The main GDP growth for advanced economies is tech. The US has monpolized technology. Europe should do like China and kick out US tech and protect their own companies, otherwise Europe will end up as a 3rd world continent. China, Asia and the US are surpassing Europe quickly.

[@Dylanchris8048]

I'm 57 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@sultanofswingdrift3021]

You cant save on bank accounts, it's only housing and Bitcoin... Anything else and you will be fightning a loosing war forever.

[@Douglas_413]

The main issue with Mass Migration here in the USA is that big companies would rather pay a illegal migrant 5$ a hour illegally since they can get away with it, than pay a American 15$ a hour.

[@Xavier_Renegade_Angel]

nice titel "EE06 41 ENG With Ad How Europe sabotaged itself"

[@Atheismo9760]

Nice spelling of the word "title".

[@EconomicsExplained]

It's descriptive, it tells you what language it's in, what's not to like?

[@chiquita683]

Vid starts 3:46

[@bj3485]

@@EconomicsExplained you knew there was an ad in it, why didnt you take it out?

[@madoudia]

And Canda in the chart at 8:36

[@martinkerrmusic]

I agree with you your final point. Quality of life for ordinary people in most European countries is better than their American counterparts enjoy. More time off, better infrastructure and services, free healthcare, walkable cities, access to history and culture, affordable high quality education etc etc. GDP figures don't really affect quality of life for most people.

[@kenoliver8913]

Yes, GDP was never designed to measure human wellbeing and is an extremely poor measure of it. A better, though still flawed, measure of the living standards of ordinary people is median (NOT average) household incomes, and on this measure the American economy has grown slowly and at roughly the same rate as EU households. It is just that the fruits of economic growth in the US has been captured almost entirely by the top 0.1%.

[@KennethGiuffre-i5n]

The reason you're able to enjoy all of those is because the US protects you so your governments don't spend on your defence but that is all ending now because of Trump. You will now feel what it is like to spend money to protect your country.

[@jazminelee7423]

Can you post any stats or links to back that up? Only the Germanic nations (the Nordic nations, Switzerland, Netherlands) have better HDI.

[@GangstarComputerGod]

Back this up with facts, not Euro stereotypes.

[@mlynto]

Yes, but only in Germany, Benelux, Scandinavia, maybe also France, Slovenia or Czechia, the rest of Europe sucks big time and is more comparable to third world than to US. It is just a myth.

[@christophermcdermott2300]

Probably when Europe stopped trying to please Europeans and please everyone else

[@Tonius126]

The opposite.

[@grisflyt]

You mean pleasing Washington. Indeed. Europe has no future as long as it is cucked by Washington. The Iraq War wasn't in Europe's interest. Nor was the refugee crisis. But anything to please the Americans.

[@dejabu24]

13:23 Airbus is also a great european company that is consistently beating its competitors with innovation over the years

[@tiro0oO5]

There are so many in the pharmacy / chemestrie aerea… There are so many related to optics (e.g. Zeiss) and machine Technology…

[@OrangeNash]

On all these smart young professionals leaving the EU to come to the UK (and USA). It's strange that I just saw another YT vid telling us that those same professionals are leaving the UK, because the UK economy is broken. A lot of what we are told just does't add up. I suppose content creators have to make content with click bait titles. All of those on economies repeatedly make assertions based more on opinion than evidence. Or where evidence & studies are arguable and contradict each other (which is really common with economics and soft sciences), they just cherry pick the ones that match their own already formed political view.

[@jamiegrant5955]

EE's narratives tend to be Angiocentric and out of date. Their channel genuinely has a poor understanding of how the EU operates.

[@mrgalaxy396]

The problem is that while you can draw up medians and other statistics for grouped entities like a country to paint some picture, describing on a personal level for each person is impossible and your milage will greatly vary based on various factors both external and personal. It's like using fluid dynamic equations to describe what each individual atom in a water stream is doing. You get the trend lines and this will apply to a portion of the sample, but you're gonna have various subgroups all doing their own thing, sometimes even completely opposite to the general trend. We don't care about those deviations in natural sciences because we only interact with the grouped entity and the effects of those deviations are negligible, but in case of socioeconomics you are those atomic parts that can greatly deviate from the trend. So it's no surprise you will have mixed messaging and opposing views and situations depending on where you look.

[@OrangeNash]

@@jamiegrant5955 Also, it seems there is a never ending demand for people to be told that disaster is approaching and the end of their world is nigh. Always has been.

[@BubbleBubble-3]

eu and uk are both broken, its only usa is flying

[@butterbeans182]

"Workaholic USA?" LOL -- Asia has entered the chat

[@X3nophiliac]

well this is a video about EUROPE XD

[@butterbeans182]

@@X3nophiliac just shows you how the USA lives rent-free in Europe's brain and they never think about other continents.

[@ohwhatworld5851]

The US economy has outperformed Europe... But at what cost? It's average deficit as a % of GDP is 5.3%, far larger than countries in Europe. Its current national debt is 120% of its GDP, again far larger than countries in Europe. The US has enacted low tax policies which has resulted in a ballooned national debt. All they have done is kick the can further down the road. We haven't seen the end game of economic policies in the US yet, and I can tell you, it will be an absolute sh*tshow.

[@clownpendotfart]

The US government can borrow many at relatively low rates because they are expected to be able to pay it back. A very different situation from a country like Greece which has been in default so often.

[@ohwhatworld5851]

@@clownpendotfart They cannot do that indefinitely. They are currently spending almost £1 trillion on interest payment each year. That is more than they spend on their military....

[@thetapheonix]

Spain, Greece, and Italy would like a word with you. TheUK will soon also like a word.

[@HWQFish]

The endgoal is AI, we just didnt know. Guess we will see

[@GangstarComputerGod]

The U.S. finances the entire world. I agree it’s a problem and can’t wait to see all that “aid” stop.

[@YvonneDarvek02]

The current market/economy is unnecessarily tougher for bloomers/senior citizens. Over the years I was just buying and holding onto potential assets, which doesn’t seem applicable to the current rollercoaster market trend, plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@ErikSolskjaer]

Before you start investing, it's crucial to understand the basics of investing in different assets and their associated risks. Are you investing for retirement, buying a home, or building an emergency fund? Your goals will help shape your investment strategy.

[@JorgeNorbing]

I was once faced with a similar situation. I sought advice from a top invęstment advisęr here in the States. Through portfolio restructuring and diversification with good ETFs, S&P 500 and growth stocks, I've turned my portfolio around from $220k to over $605k in a few years.

[@ElizabethSorloth-l8s]

Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I'm in dire need for one.

[@JorgeNorbing]

Sherry Ann Klein because her market signal and prediction is awesome, actually I was skeptical at first lol, until I decided to try. It's huge returns is awesome! I can't say much.

[@HughesPaula02]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@SonOfDorn7th]

This channel is such a gold mine of good information delivered in a non-bias well supported format! I couldn’t recommend more to my friends and family

[@thedukeof5a]

Look at the wild swings in electrical costs in Germany for the month of December. Turns out renewables as a source for baseload without grid storage that at scales it needs that don't even exist wasn't such a good idea.

[@tejasmate..]

USA dominates in tech, China rules manufacturing, and India excels in services. But the EU? Aside from Germany's auto and engineering exports and the UK as a financial hub, the rest are pretty irrelevant in the modern world.

[@juliuszkocinski7478]

Is India a service leader?

[@tejasmate..]

India might not be the leader, but it's a major player in IT and software services, exporting nearly $300 billion - more than the GDP of many European countries. Software and finance services are as essential as oil in goods. There's no replacement for India in this space. If India stops, the world stops. Your airlines, banking systems, even digital systems all run on India's hands

[@lexmortis5722]

1:42 you missed "inflation", as a german i have only heard of "economic decline" in the past decade and lower wages, even tho our GDP is incising every year. Prices go up, salaries go down because inflation is not adjusted for and the job market here is pretty depressing. No room to live unless you are very wealthy and mandatory bills like "Rundfunk" eat up any savings most folk make after getting their families fed.

[@SamCyanide]

It's like that here in the US too. Rampant inflation and salaries not keeping up with it. House prices continuing to go up and up with no market correction. Cost of living rising as well. Everywhere in the world the class divide is getting larger

[@simulatednatas]

I am so sick of hearing that there needs to be constant growth

[@matthewcoombs3282]

Do you know the only thing in the natural world that endlessly grows and is not self regulating or limited by its environment.......? Cancer cells........

[@martakot6050]

Exactly, GDP isn't all there is to it, and just as the video they say that highly skilled workers leave the EU to work in the US (for which I don't even know if there's reliable statistical source), the same way skilled workers are staying in the EU to enjoy the quality of life, working remotely for companies worldwide, within and outside the EU.

[@stephendoherty8291]

Then the alternative is higher taxes to pay for the services of an aging population with higher health requirements, higher expectations for education than a factory job that robots can replace or be offshored and a willingness from the quite to very wealthy not to hide that taxable wealth

[@Jacob-vx4zw]

You’re either growing or your dying

[@giovanifm1984]

So, suggest a way to cut government spending without hurting people's quality of life. Maybe then we can rethink the need for growth.

[@Slaking_]

Europe will simply never be able to become a superpower when the average European leader hits the big red AUSTERITY button every time the economy looks slightly bad, plunging the poorest into absolutely misery and kneecapping their own long-term growth. Having the biggest economy isn't everything and chasing the line is a good way to create a massively unequal society, but Europe doesn't have a big economy and (mostly) doesn't have a particularly comfortable standard of living for the average person.

[@Gravitatis]

europe will never be a superpower because all the europeans backstab each other at the first sign of trouble

[@losingthegrid6856]

Spot on.

[@apc9714]

The average person have a better and longer life in Europe than basically everywhere else

[@mrshhjj8899]

what are you even talking about? There's almost no poor people in northern-western europe, and the people that I do know which are poor, are all alcoholic/drug users. It's not the country's fault that someone can't take care of themselves. If anything we're wayyyy too nice for the 'poor'.

[@lacdirk]

It literally has the highest standard of living for the average person, and it is the only part of the world that still manages to act positively to face the challenges of climate change, resurgent fascism and the decay of the international rule of law.

[@darkmater4tm]

A big problem, rarely discussed, is the lack of internal mobility in Europe. You can't chase opportunities, because most opportunities are in countries where you don't speak the language. English is often enough to get you through the door, but you are still expected to outgrow this phase.

[@iQKyyR3K]

Zeiss is the only company supplying optics for the EUV photolithography machines.

[@makisekurisu4674]

also, asml

[@Niosus]

There are also plenty of smaller companies on the cutting edge nobody has heard of. I work for one. We beat our silicon valley competitors if you look at what the product actually does. But they can spend tens of millions on fancy branding and marketing, we can't. I think the main issue is that there isn't as big of an investor climate. Plenty of really smart people starting promising companies. But it's much harder to get seed funding to get things going. That means it takes longer to flood the market, opening up opportunities for competition which has access to capital.

[@abdiganiaden]

Lol euros never fail to mention this, ASML runs on American licensed IP by the way

[@prophetsspaceengineering2913]

@@Niosus This. The EU lacks startup money and tries to prevent companies from becoming too large. Those are big factors. There are a lot of problems in Europe but the video seems superficial. Also, Airbus vs Boeing seems like another area where the EU is very clearly ahead atm.

[@iQKyyR3K]

​@@abdiganiaden I've mentioned highly specialized optics, not ASML. Have a look at hidden champions, small, highly specialized and very successful companies are what Germany for instance is great at. Known only when inside a given industry, but absolute market domination in those markets.

[@SomeGuy1117]

Please keep the title, its hilarious.

[@Global-yt]

fr

[@berkoral801]

Did it change?

[@ericclark133]

The reason why immigration becomes such a controversial issue is that those pushing hard for it are the same people who resist integration. Instead, they strongly support diversity. These diverse values run counter to the traditional values of the European economies. What ultimately happens is that immigrants make life more difficult for average people, whereas the elites who push immigration are shielded from the consequences of these policies (like misogynist actions by individuals living in the suburbs of big European cities). The reason why North America has been successful with immigrants - indeed, the average American and English-speaking Canadian is a mix of ancestries - is because they have focused hard on assimilation. This doesn’t go as deep as it appears - it even influenced the last Presidential election, and how it affected the voting patterns of the great-great grandchildren of 19th century immigrants - but it does affect it deeply enough to ensure that these areas function with minimal disruption. Ie, the US and English-speaking Canada successfully create ethnic Americans and ethnic Canadians. It’s not just one way - these two countries adopt a significant number of things from these new cultures and change their ethnicities with things (like values, folkways, material culture) that can be integrated into the dominant American or Canadian ethnicity. It matters to economics because this is required for immigration to work - and allow economies to bring in needed immigrants. The Netherlands is doing the best job of this - although maybe not as effective as needed. That means finding a way to turn Turks and Algerians into Germans and Frenchmen, not letting them fester in their own ethnic ghettoes. It involves compromise, but the European governing classes, in their arrogance, are showing little ability to adapt to this (I wonder if they’re still thinking it’s 1913 at times).

[@yazanmowed]

This!!!! The integration efforts in Sweden have been abysmal for the longest time. It has improved somewhat, but many ghettos have already formed in both big and medium-sized cities, and I don't see the situation being solved until 10 to 20 years later (assuming no more large immigration waves happen, or at the very least not if they were handled as badly). I had to join a special activity that was sponsored by the city in the library in order to meet and befriend a Swedish person, practically lived in the city library, and am currently studying at the university (in Swedish, after trying an English program that I hated) and the best I could do in my small city is to befriend a bunch of old Swedes (maybe too old) and a Chinese exchange student and a Dutch guy that has been living in Sweden for a while.

[@jessicalacasse6205]

people wanting immigration just failed economics 101 supply drive price ...if you got 3x to 4x the number of person wanting the same thing it drive price up ( foods ,housing transport ,services ) but govs manage prison where more inmates mean more money ...

[@emirozer9280]

I feel like you’re attributing to culture too much. Like, I completed my masters in Germany and work here as a turk, so I might be biased. But as far as I can see, hitting my KPI’s, spending money at local businesses, working, paying rent etc. are completely independent of my culture and something my native friends go through in the exact same way. Heck, I can’t even vote so idk why you’re pointing the finger at us.

[@CandiceMMartinez]

You're right about American diversity. But our immigration model can't be applied to Europe. North and South America are two big melting pots. Your nations colonized the Indigenous cultures, bred with them, bred with slaves from Africa, and their offspring bred with subsequent immigration from around the world. This is the story for every nation in the Americas. In Europe, YOU ARE THE INDIGENOUS CULTURE. In the US, Native Americans are the indigenous cultures, who merged their cultures with western culture. In Europe, your culture IS the indigenous culture. American nations started as colonies. In Europe, you're OUR former colonizers. You can't apply American immigration models to Europe. It won't work. You're inviting the same outcome that happened to the Navajo, Cherokee and Lenape. "Oh, let's invite these poor starving White people to live with us. We'll give them some land and corn."

[@CandiceMMartinez]

​​@@emirozer9280 Actually, your culture is very responsible when it comes to working and productivity. Turks are illegally crossing our southern border from Mexico in droves, but we don't notice them in mainstream society because the Turks don't bother anyone. Turkish migrants don't even use the migrant hotels or food assistance. We have no clue where the Turkish migrants go after they cross the border because they don't use welfare and they don't commit crime. Turkish migrants come here, work and don't bother anyone. They're not even on Trump's deportation radar. Turkish migrants are easy to absorb.

[@zawadmuttaqi5597]

Love this trend of weekly uploads, handsdown the best economics channel on KZbin

[@vatnikliberal43567]

here in the Netherlands big % of workers are sitting home with a "burnout" enjoying their full time salary. those who are really working getting 50% of their income taken by the government so the "burnout" crowd can enjoy their 2 years holidays.

[@bebebaba3442]

0:30 “relative stagnation”, so Europe IS stagnant. Not just Japan.

[@giokun100]

Europe is not stagnant. It's regressing hard.

[@robertgross9518]

@@giokun100 regressing? xD

[@Jon-hh3gz]

We need to start developing our own companies again get back to basics and support each other in doing so not just buy from China or USA.

[@InderjitSingh12]

Last part is important. Europeans have better lives than Americans. American gdp numbers are pumped by tech companies that employ very few people

[@Commonsense-u1h]

@@InderjitSingh12 West Europeans do on the whole. I'm Also not convinced that losing the odd worker to Google is such big deal. What's probably a bigger deal is that many EU countries don't link research to industry as well as the US does. Germany does this pretty well, but France and Spain could do this better.

[@seanthe100]

Yet, American median salaries and incomes even adjusted for PPP are literally higher than every single country in Europe and the gap is widening day by day.

[@thetapheonix]

That’s not true. We have bigger houses and cars in the States. We make way more money and pay way less in taxes overall, that extra $$€€££ buys a lot of happiness.

[@severalmalfunctions]

keep telling yourself that... "Do not look up"

[@BasePuma4007]

​@@thetapheonix My health insurance is $1200 a month for myself and my son... We love talking about how we play less in taxes while we get screwed by monopolistic pricing in health care. When you incorporate the inflated costs of so many services in the US, the standard of living is largely the same and sometimes worse than western European countries.

[@Thund3rstruk2]

This is the first time I can recall you having the guts to call out real issues. Good work.

[@RobertS.Headrick]

Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[@briankelley-n9c]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@JasonB.Chisolm]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@StephanieG.Augustus]

How can i get started when it comes to investing and passive income?

[@JasonB.Chisolm]

Just research the name Jessica Dawn Walter . You’d find necessary details to work with a correspondence to set up an appointment.

[@CharlesT.Foster]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@MrVanMises]

Some contradictions with facts here: Immigration in Europe does NOT bring foreign cash being spent in Europe but rather SENDS money to Africa. Finance and Tech startup roles going abroad is not what is hindering manufacturing output from Europe.

[@Commonsense-u1h]

Actually, immigrants do fill skill gaps and do spend in the European economy too.

[@michaelabraham9233]

initially people do bring money with them and often once they get a job they will send part of their salary back in remittances

[@GreenRexker]

4:08 Did you forget to put in the finished graphic here? Love the channel btw

[@Executor-exe]

hmm, just super stable times

[@aldorsta]

Title is great, I would watch the ad knowing that it's there just out of respect to honesty.

[@DonaldMark-ne7se]

Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.

[@Jamessmith-12]

My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.

[@JacquelinePerrira]

Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.

[@kevinmarten]

I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.

[@Jamessmith-12]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation

[@kevinmarten]

'Carol Vivian Constable is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@DrDezaro]

Triggered me with the closing statement. We say the average person but we mean the median person. There is potentially a massive difference between the two and I think that averages in economic analysis are thrown around too liberally and “the average Joe off the street” is actually the most likely result of picking a person at random from a crowd. So within one std deviation of the median … I’m sure that the “average income per person” in Australia if it doesn’t fall outside of this, it will be on the limit of one std deviation above the median. Hence “The average person” doesn’t earn “The average income per person.”

[@caynebyron]

Great title.

[@agilagilsen8714]

Nowhere near enough time is spent criticising the german government for shutting down nuclear reactors after the war in Ukraine. They could have changed course, but decided not to. Absolutely something we should never let them forget.

[@mikelantonana2952]

It’s not easy to change course in the case of nuclear plants specially when the decision happened in 2011. The decommissioning had probably already started. The initial decision is the dooming blow.

[@NekoBoyOfficial]

"Immigration fills job existing residents don't want to do" and allowing too much (especially illegal immigration) keeps those wages down.

[@safuu202]

No one wants to recognize that that flux of immigration labor is largely low skilled which does nothing to boost wages since the people that come are willing to work for peanuts and undercut existing labor forces.

[@mattifine4348]

I enjoy how you actually acknowledge quality of life. Way too few economists do.

[@wojciechmuras553]

For the time being, the worse numbers on paper still translate to better quality of life in practice. I'd much rather live in Amsterdam than in LA. But stagnation is dangerous in a world addicted to growth. And Europe is clearly struggling to keep up. Innovation is feared, industries trampled, and global megacorps are threatening the traditional, small-scale way Europeans have been doing business. Maybe this will be fine in the long run. Even if we fall behind the global economy, we'll be the most comfortable poors in the world, enjoying our cute little cafes, deciding where to go skiing this winter, and biking to our jobs at small service sector companies. Or maybe we will weather the storm, watch the empires across the oceans rise and fall, like we have for the last 3000 years, and get back to how it's always been. Maybe we can stop turning a blind eye to our issues, fix them, and stay on top. Or maybe we're destined for a total collapse. Maybe with the economy crashing, America and China rising, maybe we will fade and give way to the new crop of global superpowers. Whatever the case, one thing is clear - we've grown blind and complacent, ignoring the brewing troubles to keep the conformable facade of a flawless society. Europe is a great place, quite possibly the best in the whole world - but we have a lot of hard work ahead of us to get it back on track it's been almost unnoticeably straying further and further from over the past decade or two.

[@v2plus4]

I don't know. In America, we have some very nice cafes too. You might be surprised. Most jobs here only work 40 hours a week. And America is much bigger then LA

[@Croz89]

I think part of it is the more fractured nature of the EU. Each country is far more different in regulation, culture and business policy than between any U.S. states. This makes doing cross border business in the EU far more challenging than between, say, Nebraska and California in the US. The EU is currently struggling between a future of an ever closer union, closer to the federal system of the US, and countries wanting to maintain far more of their independence (one already decided to leave after all!). More unified business regulations and capital markets would really help encourage investment, and there are plans for both, but I'm sceptical how far the EU can take this sort of thing before several countries decide enough is enough.

[@reaperz5677]

The U.K. leaving wasn't about "independence". It was just a failed political stunt (the EU referendum part). Essentially, people willed it into existence after the referendum won, no one really wanted to leave, not even the politicians who set up that referendum (it's why the U.K.'s prime minister immediately resigned after the referendum passed - because it was never meant to actually pass).

[@jessicalacasse6205]

more difference in usa than europe .... just look at pro or cons no one in europe has a gun debate a abortion debate a vax debate that put state againt another while in europe everyone going in the same way plus nearly all states got different laws

[@CandiceMMartinez]

​@@jessicalacasse6205 Guns and abortion have nothing to do with commerce. Unless you sell guns or abortions. Or both

[@glyphdealer]

It's important to note that when we see America pulling ahead it's really only certain companies and certain people in America pulling ahead. Most of the middle class in America has stagnated or even lost a few steps. Consolidation and monopolization mixed in with a little bit of private Equity have made a few big winners in a lot of losers.

[@clownpendotfart]

You don't know what you're talking about. To the extent that the middle-class has shrunk in the US, it's because of people in it moving into the upper-class rather than lower-class. Americans consume much more than Europeans, with one of the most obvious examples being the size of their homes.

[@glyphdealer]

I'll use your example as my example as well. The homes are bigger in the US but the amount of people in the past two decades that have been able to buy them has decreased when compared to the '80s and '90s. I'm talking about the number of people in each class, not the amount of money each class is making or spending. As it said in the video. The economics of the US are pulled up by the top 10%. The average American is usually worse off than the average European considering the standard of living.

[@HyperVegitoDBZ]

@@glyphdealer This is partially true. In EU you literally cannot be homeless unless you are borderline incompetent. It's simply illegal to trhow you out of the flat without the municipality finding you a new social one. As these flats are very spare, pathology of not paying rent and living normally is quite common in EU. Is there such a pathology in USA? I kinda doubt it. So the "well off" bit is mostly due to massive socialism which is fantastic when you are a factory worker which will never amount to anything and you mostly take from the system. But as you enterm iddle class and earn more and more, the govt makes your life harder and harder, because YOU finance the system itself. Not the bottom, nor the top earners which avoid most taxes.

[@tonycollyweston6182]

​@@HyperVegitoDBZwhat rubbish you write sounds like you've been listening to elon

[@HyperVegitoDBZ]

@@tonycollyweston6182 Nope. I live in EU so I know what I am talking about.

[@PiouStarcraft]

As a western European : We are cooked. Our welfare system is going bankrupt, our low income jobs have moved east and the middle wage will follow as eastern europeans are developping. Our big companies and investors are making bank however.

[@joemascone]

lol one of the few Europeans that acknowledges theirs a problem vs dodging the problem saying the US is more horrible.

[@MysliusLT]

@@joemascone It's not a problem. Eastern Europe's development is Europe's development.

[@MysliusLT]

@@joemascone Secondly, western/northern Europe owns a lot of assets in Eastern Europe. Too much if you ask me. As he said, big companies are making bank.

[@lacdirk]

Europe is not divided between east and west anymore. Living standards are still higher here than anywhere else in the world. If you think you would like to be born somewhere outside Europe, not knowing to whom you would be born, you probably don't know that place very well.

[@Hosenanzugtasche]

The video completely ignored corruption, as in policy only catering to big financial conglomerates.

[@valentinivanov3389]

Life in Europe is a lot better not than 10 years ago and most Europeans would agree. Life in the USA is far worse than 10 years ago and probably 95% of american would agree. So economic numbers dont mean much.

[@darkmatter5424]

Europe is basically just an open air museum at this point in time. They don't even have anything competitive in tech.

[@ingemar_von_zweigbergk]

5:37 are you saying that unemployed people don't want some jobs because the salary is too low, so that foreign students get those jobs instead? from what I understand a lot of unemployed people have difficulty to get jobs, including those jobs that have low salary

[@DaWolfetrax]

Hear hear, I'm part of the group of unemployed that want a job, but simply can't get one anywhere they apply. I want a decent enough job, but everywhere I apply that is within my interests or skills in my city, also as a native to a smaller country that's part of the EU, I get either ghosted or straight up rejected with the same response of "thank you for your interest, unfortunately we picked someone else who fits more for this position" and it's a low level to no skill needed position for minimum monthly wage that is not even close to a thousand euro. It drains me mentally and physically because this has been going on for over a year with back and forth with tons of companies and invididuals posting job ads. Sometimes I get lucky and get an interview, where afterwards I get rejected or ghosted despite showing genuine interest. It's hurting me with long term stress, I don't want to rely on my parents to help me, because it should be the other way around. I feel embarrassment and frustration that I can't get up on my own feet. Even more so when I see complete fools barely doing their jobs at some stores I've responded to in here and asking myself "how did they get this job that they're so inept at, meanwhile I can't find one at all".

[@actionman4520]

Many countries have "immigrants first" policy which is unheard of in rest of world, due to uncontrolled mass immigration. Doesn't help that half of those immigrants are in those countries just for welfare and have no intention to ever join workforce.

[@jessicalacasse6205]

if you compete in a service economy you ll lose for each new service ( if you got a restaurant for 1000 person it is ok but if you got 1000 restaurant for the same people cut will be needed

[@DaWolfetrax]

Thanks a lot YT for deleting my original comment, so I'll just make a backup of it next time, just in case. I'm unemployed with a very exhausting struggle to find anything as I keep getting either ghosted or rejected and it is taking a toll on me mentally and physically. I've even applied for jobs with minimum monthly wage of my country, which is not even close to a thousand euro, just to get whatever and still get the same treatment. I'm talking about jobs that have low to no skill level and high school education as requirements, which is ridiculous. Then I look at the employees at stores I applied to where I got a negative response from and I'm baffled that I can't get a fair shot meanwhile people who barely do their job got them. I may not have a higher education w/ a degree, but I am confident I could fit in most places and can learn quick enough. Not even getting a part-time job is painless. Several times I got deceived and in a few instances I got told by agencies they prefer someone who already has a prior experience. That is outrageous, it simply shouldn't be happening.

[@DaWolfetrax]

YT keeps removing my comments, but yes as an unemployed person getting any job is difficult as it is in where I live - in the worst of the V4 countries within EU to be exact.

[@Phyt5]

Title of time I am writing this- EE06 41 ENG with ad How Europe sabotaged itself

[@tnt1602]

And?

[@charlesfaulkner4586]

An excellent presentation with many insights, that some might think of as subtle, until they consider the longer-term ramifications.

[@asimpleguy2730]

I appreciated a lot the part at 16:40. In software engineering we know that every metric that becomes an object ceases to be a good metric, and it feels like modern macro economics is solely focused on GDP growth.

[@LDP..]

Honestly unlike what you said in the beginneng of the video , education is the biggest problem right now ! We are finally implementing some changes but it has been taking waayyy too long to adapt/update our education system to the changing world and scientific breakthroughs. The reason we are so behind on innovation is also attributed on this, because we value tradition far to highly

[@Calm_wisdom]

Sizing up an economy solely on GDP without national debt isn't representative, debt is crippling. GDP is like Revenue and revenue is vanity and profit is sanity.

[@makisekurisu4674]

Does the EU countries have lower debt?

[@classiclibertarian]

an interesting point, but one could argue, especially with regard to public finance (vs private), a high debt to gdp ratio would actually suggest some strength when a defecit exists at the same time. international lenders view the highly debt ridden country as a better risk/better value for money/investment than the country with a lower debt to gdp ratio. essentially thr governments don't have to be run as well and they can still generate more and lower risk returns than a less debt-ridden country.

[@LarthV]

@ makisekurisu4674 Some do, others do not. Generally speaking north and central have low dept (Germany is like 60% of GDP) while southern and western have higher (France 110%)

[@till_teewurst8674]

You could have mentioned Draghi's report on the competitiveness of the EU's economy

[@lacdirk]

In the US, more than 37% of the people that are working age do not have a legal job. That is what it means that the US's labour force participation rate is under 63%. They may still be working, but then they do so illegally. Illegal jobs don't come with decent wages, safety regulations or benefits, and they don't provide revenue to the state. In the eurozone, the number of working age adults that doesn't work is less than 25%, and in Germany it's less than 20%. The US system fails to provide its citizens with jobs in a truly spectacular fashion.

[@tahzeebulalam8094]

And to make matters EVEN MORE WORSE,the data that showed that even though the European Union is the world's second-largest economy,its almost exactly the same size as China,which it wasn't supposed to be like that.Believe me or not,the 2007-08 global financial crisis hit the majority of the world's economies pretty hard,but both the USA and China have recovered the best,even the coronavirus covid-19 pandemic didn't stop both countries except for the European Union which is very sad.Almost the entire EU hasn't recovered well since the 2007-2008 financial crisis with stagnation almost at 20 YEARS............

[@bthompson1229]

These 10-20 minute lessons are great for the hobbyist guitarist. Thanks for putting it out!

[@nekhumonta]

Eventually the world will have to move away from a growth based economy. Unlimited growth is impossible with finite resources.

[@breadstealer93]

1:08 I think the news might be that a lot of the current economic problems in Europe causing it's slowdown are largely self inflicted

[@quietackshon]

All the problems described are caused by the monetary system, fiat currencies and fractional reserve banking. The idea of "forever" growth is ridiculous when examined.

[@aaarrd]

I appreciate the attempt to make Europe feel a little better at the end there

[@felipecarvalho1172]

Excellent content as usual!

[@rufioh]

Here before the title changes from EE06 41 ENG WITH AD

[@JM-st1le]

😂

[@steffenjensen422]

Before watching: I honestly feel like we have much higher standards of living in Europe, we just need less money for it. So calling us poorer is a stretch.

[@walterrawdanik8077]

Having lived roughly 20 years both in Europe and USA - you dont , not even close.

[@steffenjensen422]

@walterrawdanik8077 Hm, maybe. I've only lived in the US half a year as a student and since then all I hear is over the Internet so maybe my view is distorted

[@90s_TX_AD]

17:50 based on what data are you saying that the average worker in the EU is better off than in the USA? I feel like a claim like that should be backed up by data. Like the Luxembourg Income Study database which has household disposable income comparison percentiles. Last time I checked household disposable income was only better for the bottom 20% of people in most European countries compared to the US.

[@gbmoney8746]

Yeah I doubt this, the “average” American is likely better off than the “average” European. The difference is likely in the bottom 20% or so where the European welfare state would make it much easier to live without working hard.

[@90s_TX_AD]

@gbmoney8746 yeah I guess it depends on how much value you put on vacation time

[@DakotaTheRota]

@@gbmoney8746 Maybe, but once you are in the lower 20% in the USA you can get free healthcare, food assistance, assisted housing, free gas and electricity. We used to even have a program that would pay up to 25-30 dollars a month for internet if you qualified. Though I do believe we have social belief that it's almost wrong to take government handouts unless you are old or disabled, so I think Americans would rather suffer for a while than to take handouts from the government.

[@mrshhjj8899]

We have a social system that makes sure that you never have to worry about getting sick or missing a day off as you'll be paid (depends on the country though). Also you can't just 'get fired' like in the usa. That's very nice for the stress relieval of workers.

[@heikkieranen2121]

USA has better disposable income but worse everything else, like healthcare costs, education, safety, amount of holidays ect.

[@oldbrokenhands]

What I glean from this is sometimes the metric is not who has the most and best, but who has enough and happiness.

[@cupotko]

Not that I'm advocating Germany in first comparisons, but judging by GDP pro capita things are looking not so bad for it, with it's 'only' 80 mln population in comparison with Japan and USA

[@nilswedin8480]

The idea of ​​the EU is to raise the level for all countries within the EU. When the economy grows in the member states, the EU grows as a whole. However, there are 27 individual countries that require different efforts and therefore different times. It has worked well with Spain, Ireland, Greece and Poland, etc. Right now a little worse overall but will get better when more countries take off. So comparing with the USA and China which is "one country" is wrong.

[@gonzalomorales5605]

the US is actually 51 countries together, that's almost twice as the EU, so the comparison is very appropriate. If you put Spain and Italy together they have an economy almost as big as Texas and Florida.

[@nilswedin8480]

@@gonzalomorales5605 US has been around for 200 years and have a federal government.

[@dragonhero14]

@@gonzalomorales5605 You do not understand how the US government structure works. It is a single country with many territories or States. While the EU is a government structure that has multiple sovereign countries. I person from Louisiana and a person from Michigan with have the same US passport. Last time I checked, there is no such thing as an EU passport or a general EU citizenship.

[@jessicalacasse6205]

usa think a civil war will start while no one in eu think of that i say more fritions in usa ... you can smoke weed legally then walk a feet then you can be arrested for drug possesion because you traverse a imaginary line ...same for guns and abortion . and there like 14 different type of chinese dialect and before ww2 they were never a unified country for atlest 5000 years ...maybe do a bit of research next time ...

[@schmidtproductions98]

As a German myself it's just sad to see this country go down, while there are still people saying "oh but the GDP is not an indicator for the standard of living at all" or "yea we have this one other relevant company and we're so proud of it!". There are still so many people who don't get that our wealth and our "oh so innovative"-companies are based on the achievements of the last century beginning from the industrial revolution. They're sitting on a high horse being "oh so proud", arrogant and naive while our companies are going bankrupt, our cities are getting shittier everyday flooded with immigrants, our energy gets more expensive, our criminal rates rise. And instead of addressing the causes, the government is trying to "keep everything running" with more and more socialist measures and try to be "oh-so-environmentally-friendly" with the dumbest green laws at the cost of everything else. But they made the bill without the rest of the global economies - so it just worsens everything.

[@mrshhjj8899]

And I havent even started on the disastrous regulatory problems like : 'wir schaffen das' and 'die energiewende'. With politics like these, who needs enemies.

[@lacdirk]

If you had a choice to be born anywhere in the world, but you wouldn't know to which parents, you would chose a European country. You certainly wouldn't chose any of the BRICS countries, no matter how much they grow, or the US, no matter how big its GDP per capita is.

[@schmidtproductions98]

@@lacdirk Well yes, your comment is a good example for the problem in the thinking for example in Germany. You only think of the present. But our present living standard is based on our past. You fail to acknowledge that we are in decline. And if everything keeps going down like this then in the future we will be the new Brics Countries and you will not want to live/be born here.

[@lacdirk]

@@schmidtproductions98 I don't dispute that there are a lot of problems, but living standards are still higher than anywhere else in the world at the moment, as you acknowledge. That's an important point. Now, living standards have arguably declined versus what they were (certainly on housing cost). But that is the case for all countries that had high living standards at the start of the century. And this makes perfect sense because all these countries now have a much larger retired population to support, and they have much more competition globally. The idea that we can keep things unchanged is absurd. Living standards will change because we have to consume less, but we may get more livable cities, cleaner water and healthier food. We may have to work longer, but we will be healthier longer. Overall, life in Europe would be likely to improve "on balance" at this point ... if we didn't have climate change and war to worry about. That's not to say that there aren't big issues (housing and too many pensioners for instance, as well as climate change and war), but there currently is no better model available. I'm perfectly happy to listen to people come up with ideas to improve our economy - we do that regularly all over Europe - but the idea of adopting already failed models like the US's or abhorrent models like China's is not helping.

[@duoasch]

well they get what they voted for

[@zealman79]

0:16 Philippines gdp per capita in the 10-25k range lol....more like 2.5k-10k...must have it mixed up with Malaysia

[@BobB-w4q]

The problem with European social democracy is that the cost of the extensive social safety net requires a sound, productive economy. Without the innovation that is largely lacking (because of the lack of incentive caused by that safety net) the feasibility of that extensive social safety net is in doubt. Give me the greater personal risk in my nation (The US) together with the greater innovation evey time.

[@Doomlike7]

hahahahahahhahahaahah

[@BobB-w4q]

@Doomlike7 Go look at France where people rioted because the government extended the age to qualify for a government sponsored pension from 62 to 64. Does that look like people willing to work hard enough to maintain profitable industries?

[@Doomlike7]

@@BobB-w4q work until you die murican..You wish you a had the life of a Frenchman or any other European for the most part...you missing the point completely..you think everybody is lazy except your workaholic bootlicking average american..i bet you have a sowell poster in your room and you see yourself as "Libertarian"

[@KarlKarpfen]

Well, the "asylum" category and the "family reunion" category accompanying it are a bit misleading though: There is no other way to migrate to Europe for many people, so they will claim some right of asylum, hope to get through and get their family to join them (fundamental right in the EU) to migrate for work reasons.

[@kolkoki]

USA and China create a lot of value for shareholders. EU create value for its people. They are not the same.

[@jeong-ilkajokaya3849]

Coping to the highest degree. I went to Europe and it's overrated bro. It's not trash but is not what it hyped up to be bro.

[@troyarrington5492]

@@jeong-ilkajokaya3849bro

[@jameswang7362]

13:16 you forgot about Novo Nordisk, which is one of the main developers and manufacturers of GLP-1 weight loss drugs!

[@tiaandeswardt7741]

Also Zeiss, which is cutting edge and providing optical equipment to ASML. Airbus is soundly out-competing Boeing at the moment. Revolut from the UK quickly became a fintech unicorn. Sure, Europe is definitely lacking in innovation, but saying that it is difficult to think of more than one company is a little bit of an exaggeration.

[@walidoutaleb7121]

​@@tiaandeswardt7741zeiss and asml are fusing together its basically the same thing now. And airbus is absolutely not out competing boeing. Technologically? Sure. But economically the a380 was a huge blunder and boeing continues to outsell airbus.

[@ChrisGerow]

Is the USA "ahead"? Rampant inequality and worst life outcomes for most people. As a Canadian, I'd choose Europe over the USA as a place to live.

[@marksuave25]

How's Canada doing?

[@psyche100]

Dude...we all know how well Canada is doing.

[@Mr_Bawon]

@@marksuave25 I see many Canadians complain about Canada. Canada is NOT doing good lol. And Canada is expensive af according to many Canadian.

[@rook1196]

@@marksuave25 well like America turned housing into a commodity therefore giving property owners (mostly olds) enormous economic and political power. So you have a poor and working class who can't afford a place to live all the while the wealthy property owners will support anyone who protects their investment (that policy is less affordable housing). Everyone gets PO'ed. The rich get a bit scared so redirect that middle class anger to "Oh look immigrants!" and the gullible poor and middle class always take the bait its our catnip. Next thing you know you have incompetent racists and hanger ons as your govt leaders.

[@siegfriedfurtwanglerknappe6188]

with the Canadian propaganda machine, I don't doubt you do. Glad your shithole is collapsing and will be a US state soon.

[@-ism8153]

This is extremely interesting and feels like a very honest take, not trying to push an oversimplified narrative. Thank you.