>Europeans are facing a new economic reality, one they haven’t experienced in decades. They are becoming poorer.
Life on a continent long envied by outsiders for its art de vivre is rapidly losing its shine as Europeans see their purchasing power melt away.
The French are eating less foie gras and drinking less red wine. Spaniards are stinting on olive oil. Finns are being urged to use saunas on windy days when energy is less expensive. Across Germany, meat and milk consumption has fallen to the lowest level in three decades and the once-booming market for organic food has tanked. Italy’s economic development minister, Adolfo Urso, convened a crisis meeting in May over prices for pasta, the country’s favorite staple, after they jumped by more than double the national inflation rate.
With consumption spending in free fall, Europe tipped into recession at the start of the year, reinforcing a sense of relative economic, political and military decline that kicked in at the start of the century.
The article is rather long with multiple graphs, you can bypass the paywall here https://archive .ph/nzdtv (remove the space)
Eastern Europe: “First time?”
Turkey: First time?
Laughs in crisis resiliant economy
(Cries in flawed-democracy)
Maybe try even higher taxes and wider social safety nets
(most) of europe lived in economic abundance for decades – there was absolutely no way that this would last forever
Wow.. What a despicable article !
Filled to the brim with clichés about Europeans.
Societies evolve. It’s not because we eat less “foie gras” that we are poorer .
What about avoiding poluting consumerism, living more environmentally friendly and facing epidemic diseases.
And no more living on eternal huge debt as one other country .
Typical of the “US good , Europe poor and dirty” mentality of the WSJ.
Arrogant conservatism.. nothing more.
cope tsunami in the comments incoming…
Tends to happen with all the bullshit world crisis events
Don’t worry, folks! The far/radical/populist-right are here to Make Europe Great Again!
Clearly, immigrants are solely responsible for our political and financial decline, and all we need to do is to abandon basic human rights principles, erode social security and introduce even more rampant neo-classical economic reforms.
There’s no way this could possibly fail, so what are we waiting for?
Weird, the only happy blue collar workers in the US live in stock photos.
Paraphrased: “Stop complaining, that’s false. The standard of living is higher than ever even for the poorest with all our modern tech – just think compared to 200 years ago! You’re all so spoilt and greedy!” – any very wealthy person.
The standard of living might be higher than ever with even the poorest living better than kings from the dark ages. But I definitively wouldn’t say the “quality” and equality is. The disparity between haves and have nots in the developed world would rival the middle ages – and we’re all definitively worse off because of it.
I’m not becoming poorer.
Must be a writer issue.
By “all” it must be understood it means the lower 80% of society.
As the top 10 to 20% have been gaining wealth since 2009..
Personally I think it might be, in part, due to allowing mass immigration from everywhere outside of Europe.
Hundreds of thousands yearly (406.000 alone here in the Netherlands *2022 Consisting also of 108.000 Ukrainians) per EU country, all poor, all of them requiring some form of welfare.. this is unsustainable.
To quote an idiot that was right at least one :
“Abundance is over ”
Europe does not have the necessary energy to at the same time develop economy but at the same time become ” greener “
We’re living the times of hyper inflation like in Germany back in the 1920s
Meanwhile the rich become richer.
The vast majority of people in the vast majority of the west are becoming poorer. The GDP keeps rising and rising, worker productivity is up, economic activity is up (after COVID)… and yet we keep getting poorer.
Unfortunately people have been conditioned to not do anything about it as part of a kind of societal blackmail: if you try to improve your living conditions, the people with economic power will be upset that their profits will go down 1%, and they will crash the economy for another 10 years in retaliation. This is, of course, a mostly empty threat, but it’s enough to keep everyone in line.
Far right parties want to say hello.
Time to blame the immigrants!
Americans too. And Asians. Basically everyone, really. The rich get richer, the poor get poorer, and we still vote for the people who let that happen
Europe should never have left the EU.
Ive noticed a recent emphasis by US media on highlighting the apparent economic doom of Europe.
While Europe, the EU in particular, is far from perfect, this analysis falls short of some key considerations, imo
More money to Ukraine should fix it
Yeah I hope the EU starts to focus more on the economy just like the US.
25 comments
>Europeans are facing a new economic reality, one they haven’t experienced in decades. They are becoming poorer.
Life on a continent long envied by outsiders for its art de vivre is rapidly losing its shine as Europeans see their purchasing power melt away.
The French are eating less foie gras and drinking less red wine. Spaniards are stinting on olive oil. Finns are being urged to use saunas on windy days when energy is less expensive. Across Germany, meat and milk consumption has fallen to the lowest level in three decades and the once-booming market for organic food has tanked. Italy’s economic development minister, Adolfo Urso, convened a crisis meeting in May over prices for pasta, the country’s favorite staple, after they jumped by more than double the national inflation rate.
With consumption spending in free fall, Europe tipped into recession at the start of the year, reinforcing a sense of relative economic, political and military decline that kicked in at the start of the century.
The article is rather long with multiple graphs, you can bypass the paywall here https://archive .ph/nzdtv (remove the space)
Eastern Europe: “First time?”
Turkey: First time?
Laughs in crisis resiliant economy
(Cries in flawed-democracy)
Maybe try even higher taxes and wider social safety nets
(most) of europe lived in economic abundance for decades – there was absolutely no way that this would last forever
Wow.. What a despicable article !
Filled to the brim with clichés about Europeans.
Societies evolve. It’s not because we eat less “foie gras” that we are poorer .
What about avoiding poluting consumerism, living more environmentally friendly and facing epidemic diseases.
And no more living on eternal huge debt as one other country .
Typical of the “US good , Europe poor and dirty” mentality of the WSJ.
Arrogant conservatism.. nothing more.
cope tsunami in the comments incoming…
Tends to happen with all the bullshit world crisis events
Don’t worry, folks! The far/radical/populist-right are here to Make Europe Great Again!
Clearly, immigrants are solely responsible for our political and financial decline, and all we need to do is to abandon basic human rights principles, erode social security and introduce even more rampant neo-classical economic reforms.
There’s no way this could possibly fail, so what are we waiting for?
Weird, the only happy blue collar workers in the US live in stock photos.
Paraphrased: “Stop complaining, that’s false. The standard of living is higher than ever even for the poorest with all our modern tech – just think compared to 200 years ago! You’re all so spoilt and greedy!” – any very wealthy person.
The standard of living might be higher than ever with even the poorest living better than kings from the dark ages. But I definitively wouldn’t say the “quality” and equality is. The disparity between haves and have nots in the developed world would rival the middle ages – and we’re all definitively worse off because of it.
I’m not becoming poorer.
Must be a writer issue.
By “all” it must be understood it means the lower 80% of society.
As the top 10 to 20% have been gaining wealth since 2009..
Personally I think it might be, in part, due to allowing mass immigration from everywhere outside of Europe.
Hundreds of thousands yearly (406.000 alone here in the Netherlands *2022 Consisting also of 108.000 Ukrainians) per EU country, all poor, all of them requiring some form of welfare.. this is unsustainable.
To quote an idiot that was right at least one :
“Abundance is over ”
Europe does not have the necessary energy to at the same time develop economy but at the same time become ” greener “
We’re living the times of hyper inflation like in Germany back in the 1920s
Meanwhile the rich become richer.
The vast majority of people in the vast majority of the west are becoming poorer. The GDP keeps rising and rising, worker productivity is up, economic activity is up (after COVID)… and yet we keep getting poorer.
Unfortunately people have been conditioned to not do anything about it as part of a kind of societal blackmail: if you try to improve your living conditions, the people with economic power will be upset that their profits will go down 1%, and they will crash the economy for another 10 years in retaliation. This is, of course, a mostly empty threat, but it’s enough to keep everyone in line.
Far right parties want to say hello.
Time to blame the immigrants!
Americans too. And Asians. Basically everyone, really. The rich get richer, the poor get poorer, and we still vote for the people who let that happen
Europe should never have left the EU.
Ive noticed a recent emphasis by US media on highlighting the apparent economic doom of Europe.
While Europe, the EU in particular, is far from perfect, this analysis falls short of some key considerations, imo
More money to Ukraine should fix it
Yeah I hope the EU starts to focus more on the economy just like the US.