Europe definitely needs to do something, in fact, we have had very weak growth for 15 years
You should use PPP
The US economy is an extraordinary beast
The US economy is significantly driven by military, medical, and educational debt.
You can clearly see that Europe never properly recovered from the 2008 shock, there has been some miniscule growth shouldered by ridiculously low interest rates for almost 15 years.
Plus, I am not sure whether this 2020/21 EU dip is purely due to the COVID effect or also includes the loss of UK (2.8 trillion after all, it remains the second largest economy on the continent after Germany). Looking by the Y axis, it might be the COVID effect solely and the UK is still included in EU figures. If that is the case, it is even worse.
The loss of UK in terms of economic power and geopolitical prestige cannot be understated and I have a bridge to sell to everyone trying to convince themselves how EU is stronger without the UK.
When it comes to the US, well they are pretty much unstoppable. Whatever they touch it turns into gold and with the “soft landing” they pulled off contrasted to the gloomy and anemic Eurozone outlook with Germany losing steam big time, the differences are only going to get starker. While we are considered allies, let’s not forget that the Americans are clearly and have always been guided by their own national interests, with the EU being viewed as a junior partner at best, while the EU is busy going around grandstanding, sacrificing its own economic interests for the sake of empty posturing.
We can harp about the humane system, healthcare, PTO, maternity leave and vacation days, but in the end of the day, we are losing ground to the US on all fronts and unless we can replicate their dynamicism and spirit, the decline will continue chipping away our living standards and global importance. I am only comforted by the fact that China will most likely have it much worse, considering the demographic predicament.
Europe is still a good and comfy place to live in and will be for the foreseeable future, but the US takes the cake this time around.
Crazy how hard 2008 fucked europe
Interestingly, this includes non-EU countries, such as Ukraine or Russia or not
Southern and Eastern Europe are dragging us down. Let’s form a Northwestern EU.
Jk, we’re stronger together. But we need to get our shit together. Also get the UK back into the boat.
And we should convince Norway and Switzerland to ~~let us annex them~~ join us.
in USD. EU’s economy has not stagnated since 2008, the euro only devalued compared to the USD
10 comments
[Source: World Bank](https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?end=2022&locations=US-EU-CN&start=2000)
Europe definitely needs to do something, in fact, we have had very weak growth for 15 years
You should use PPP
The US economy is an extraordinary beast
The US economy is significantly driven by military, medical, and educational debt.
You can clearly see that Europe never properly recovered from the 2008 shock, there has been some miniscule growth shouldered by ridiculously low interest rates for almost 15 years.
Plus, I am not sure whether this 2020/21 EU dip is purely due to the COVID effect or also includes the loss of UK (2.8 trillion after all, it remains the second largest economy on the continent after Germany). Looking by the Y axis, it might be the COVID effect solely and the UK is still included in EU figures. If that is the case, it is even worse.
The loss of UK in terms of economic power and geopolitical prestige cannot be understated and I have a bridge to sell to everyone trying to convince themselves how EU is stronger without the UK.
When it comes to the US, well they are pretty much unstoppable. Whatever they touch it turns into gold and with the “soft landing” they pulled off contrasted to the gloomy and anemic Eurozone outlook with Germany losing steam big time, the differences are only going to get starker. While we are considered allies, let’s not forget that the Americans are clearly and have always been guided by their own national interests, with the EU being viewed as a junior partner at best, while the EU is busy going around grandstanding, sacrificing its own economic interests for the sake of empty posturing.
We can harp about the humane system, healthcare, PTO, maternity leave and vacation days, but in the end of the day, we are losing ground to the US on all fronts and unless we can replicate their dynamicism and spirit, the decline will continue chipping away our living standards and global importance. I am only comforted by the fact that China will most likely have it much worse, considering the demographic predicament.
Europe is still a good and comfy place to live in and will be for the foreseeable future, but the US takes the cake this time around.
Crazy how hard 2008 fucked europe
Interestingly, this includes non-EU countries, such as Ukraine or Russia or not
Southern and Eastern Europe are dragging us down. Let’s form a Northwestern EU.
Jk, we’re stronger together. But we need to get our shit together. Also get the UK back into the boat.
And we should convince Norway and Switzerland to ~~let us annex them~~ join us.
in USD. EU’s economy has not stagnated since 2008, the euro only devalued compared to the USD