Demographics and self imposed expensive energy are making Europeans poor. Their GDP has been stagnant for 15 years while the US has nearly doubled. The demographics are irreversable as the replacement rate collapsed after the Berlin Wall fell (they traveled and enjoyed a care free life), and I don't see Europeans reversing course on their fruitless war on climate change. Global emissions are still rising as China and India gladly take the EU's lunch money and the US enjoys emissions decreases thanks to natural gas from the shale revolution. Fascinating piece in today's WSJ.
Sidenote: The US is primed to boom as we have cheap energy, cheap and abundant labor, and every geographic advantage imaginable, and a massive millennial generation nearing their capital producing primes. Good times to come for the US, not so good times to come for Western Europe.
Sidenote: The US is primed to boom as we have cheap energy, cheap and abundant labor, and every geographic advantage imaginable, and a massive millennial generation nearing their capital producing primes. Good times to come for the US, not so good times to come for Western Europe.
