EU

What happened to Europe. In 2000 the EU was second only to the US in GDP. The US was at $10 trillion and the EU at $7 trillion and today the EU sits at $18 trillion and the US at $29 trillion. The short story is that the EU self-destructed. The first mistake was Germany known as the industrial capital of Europe. They shut down coal and nuclear and went all in on wind and solar and planned to use natural gas from Russia during the transition. The Ukraine War stopped the gas from Russia and the price of energy quadrupled and plants had to shut down. Second, the population throughout Europe is on the decline. Too many old retirees and too few workers. Since the old people vote in high numbers politicians are fearful of cutting benefits so they raise taxes on the workers and young people start to leave and this makes the problem worse. When immigrants are suggested the people object. Third the absence of AI. While other countries will see innovation Europe is lagging behind in high tech industries. The big seven Apple, Microsoft, Google, Amazon, Nvidia, Meta and Tesla are all US companies. Europe depends on the US for high tech just as they depend on the US for defense. The EU is run out of Brussels and their main activity is setting up rules. There is an old saying that the US innovates, China replicates and the EU regulates. The EU is bogged down in regulations. Four. While 55% of Americans invest in the markets only 18% of EU residence do and EU companies do not have the money for investments. Most large investment firms in Europe have their money in the US including the large oil Norway fund financed by off shore oil. Don’t listen to the politicians, follow the money. Five. The EU became the leader in the new green deal and the result is that they have the highest energy prices in the world and they can no longer compete. Six. Europe’s dependence on the US for national defense is coming to an end. For 75 years they have used resources on social programs instead of military and those days are ending. There are many people in America that would like the US to follow in the EU footsteps.