The tittle of this article should be: "Madness in Germany!"
As we warned earlier, the cure to economic madness in Europe will unfortunately be more madness until the system collapses. There is no alternative.
Case in point, after starving its economy of cheap Russian energy, Germany is now embarking in the daunting and absurd task of distancing itself from Chinese manufactured products. This can only accelerate the impoverishment of the country and eventual economic failure.
This will not slow down the rise of Chinese technology, nor its sales around the world.
So practically, what will happen then? The re-industrialization of Europe?
This is of course extremely unlikely. The former European engineers are now retiring and immigrants are mostly lower wage workers imported to do the jobs nobody else wants to do.
The other option is to paper over the shortfall financially and in the process making almost everything out of reach from average Europeans. This is already happening as we speak whenever a fund takes over a perfectly functioning company and transforms it into a cash cow. This is certainly not transforming Europe into a powerhouse but over time into a basket case and shadow of its former industrial glory.
No comments:
Post a Comment