Thursday, September 12, 2024

Europe's Economic Suicide - Vox Popoli

 This is not an accident. It’s not as if everyone with an economics degree didn’t see the economic meltdown coming when the EU decided to prevent its member states from using Russian gas:

The European Union decided to analyze why their economy is collapsing. They commissioned the former head of the European Central Bank, Mario Draghi, to figure this out.

It is noteworthy that the study was commissioned by the European Commission, but the conclusions were still disappointing. Draghi came to the conclusion that the basis of Europe’s economic problems is the cost of energy for industry – electricity is 158% more expensive than in the US, natural gas – 345%.

Thus, in fact, Ursula von der Leyen’s department confirmed its own professional incompetence with statistics and research, because thanks to anti-Russian sanctions, there was a vast jump in energy prices and, as a result, a decline in the economy.

The wicked and self-destructive nature of the EU can be seen in its embrace of migrants – who are supposed to help the economy, but are massive net economic and social negatives – combined with its rejection of Russian energy – which was always going to destroy the economy. There are only two reasons for member states to continue to stay in the EU: 1) transfer payments to the member state and 2) corrupt politicians working against the interests of the nation.

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https://voxday.net/2024/09/11/europes-economic-suicide/