The disaster of the EU in one graphic

To explain what an economic disaster the EU is, it is not necessary to spend time on long and boring lectures. Just showing the graph of comparative economic growth between the US and EU as of 2015 is enough to highlight how there is something deeply wrong with the structure of the EU and the way European countries are currently run.

Let’s see the graph:

While Europe’s GDP grew by only 3 percent, the U.S. GDP grew by more than 50 percent over 2015. Yet , in general terms, the premise of the EU was much better than that of the US, with a much larger market and manufacturing base.

Yet since 2016, this advantage has first been lost and then turned into a disadvantage.

There are many causes for this trend:

• Regulatory hurdles: The EU can have stricter regulations and bureaucracy, which might slow down businesses compared to the US. The EU boasts of being a leader in legislation, but the problem is that it is, in the sense that nothing is legislated, regulated, and suppressed as forcefully as in Europe, and everything, literally everything, is subjected to absolutely stifling regulation. There is no economic freedom, and personal and consumer freedom is very restricted.
• Aging Population: The EU has a proportionally larger aging population, impacting its productivity and potential growth. Some European countries, such as Italy and Greece, are rapidly depopulating. The US has a much smaller trend. In addition, the U.S. welcomes better immigration than Europe, where average wages are lower.
• Currency issues: The euro, while a major currency, might not be as flexible as the US dollar in responding to global economic shifts.There were plans to unify the EU with a single currency. Without strong economic correctives and a transfer of public investment, on the contrary, the single currency has pushed the difference between the various economies to the extreme, impoverishing the Mediterranean countries. But these countries were also contributing to the European economy by buying and consuming. Punishing them was like shooting oneself in the foot.
• Innovation focus: The US might have a stronger culture of risk-taking and innovation in certain sectors, leading to faster economic growth. In Europe, innovating often means clashing with national and European authorities, who see any change as a threat. Just read the regulations created to regulate cryptocurrencies or AI, which seem to have come down from the moon.

Unfortunately, there is no solution to these problems, except with the complete demolition of the European construct and its reconstruction on a completely different basis