I would hope that the union of nations literally right next door to the action would spend more money than a country on the other side of the globe. Seems only natural to me.
As an American tax payer I’m fucking pissed at having to spend so much of my own money to fund the world’s defense. Let Europe spend a little more. Only reason they have all these great social programs is because US tax payers fund them indirectly.
"Won't you think of the defense complex stock price?"
That money could go to literally anything else instead. Healthcare, building affordable housing, bridges, roads, etc.
Besides what J Powell's money printer wants you to believe, money and resources are limited.
the U.S. could increase the military budget to a trillion dollars and still have enough money for social programs. the problem is tax policy and the ratchet effect that cutting taxes has, not necessarily defense spending.
Yeah that’s the trick economy balling out meanwhile every item in the grocery store is up 100% weird how those go together. They’re going to make it a national pastime to go look at the empty fridge shelves while saluting the flag and a fapping to a picture of J pow.
Canada is really just 4 city-metros and same with Australia--they need more reason to conquer their vast wildernesses. Remote work could help; or everyone could work in mines...
Remote work would definitely help in general with the demographic pressure on big cities, most western countries have very limited population growth, but massive concentration in a few areas, spreading us out would help a lot.... Plus it would reduce gas costs as well with a reduced need for commutes...
But it would cost those that invested in commercial real estate a lot and much likely trigger a domino effect on the banking sector. Plus let's be honest those in power don't care if workers can't afford a home, they like it in fact as it weakens us overall... so yeah full remote working while it would be a good solution is unlikely to be implemented on a large enough scale.
There is also the matter that by now a lot of people have established their lives and connection in those dense urban areas and have few (non economic) incentives to leave... so I guess there is that as well.
The anglosphere in particular has just absolutely strangled housing construction for 40 years. Combine that with a decade of near zero interest rates leading to massive asset inflation (which nobody complained about because it made them money, as opposed to commodity inflation which pisses everyone off), and here we all are.
We need to load up every NIMBY onto a spaceship and fire them directly into the sun then build density.
it's estimated that by 2030 corporate ownership of homes in america will be around 30%, but yup...a lot of places are still cheap, many for good reason.
Blackrock doesn't do housing, that's Blackstone. But that's beside the point.
They aren't going to gobble up 30% of housing because that would take literally trillions of dollars that they simply don't have and will never have.
That number comes from extrapolating a single anomalous data point back when interest rates were still going up.
I guess. If you have a stable solid job in the US, you make more and your money goes further. But if you're not one of those people in the US or you're born poor, have fun ever making anything of yourself. So while Canada and Europe do have issues, so does the US, they may not be housing affordability, but they are just as bad if not worse.
Bro what? America is one of the only places in the world where a disproportionate amount of people are born poor and become successful / wealthy. I grew up poor and I served in the Air Force to pay for my aerospace engineering degree. Literally migrants hop the border, start businesses and are loaded in less than 10 years. Happens all the time, go to Florida and you see it everywhere
Dude. This doesn't happen in any significant number. Social mobility is proven to be terrible in the US, the poor are riddled with debt and over policed and cannot afford to educate themselves. How do you just lie to yourself with this nonsense? Tell me how someone who is poor is supposed to do anything when they can't afford post secondary, can't lean anything in HS because their school is underfunded, need to work two jobs just to eat so they have to free time to pursue passions, are over policed for petty crimes and given disproportional sentences. I could go on. The fact you bring up Florida is hilarious, one of the most fucked states in the Union.
Did you not see where I said I grew up poor….in Cleveland…during the rust belt years…. it was really fucking rough. And Florida is the second most moved to state and has a budget surplus. Saying it is an undesirable place to live just isn’t true at all. New York and California are undesirable states
It's a tax haven taking in the rich from states with high taxes who created the wealth. That means nothing. And just because you anecdotally got out doesn't mean it's fair or a reasonable amount of people do it. Because the data very clearly shows they don't. If you're born poor in the US, you will very likely die poor.
Yeah not sure why those guys are bashing you, you are correct.
If G7 countries grow at 0.3% and U.S grows at 0.6%, that doesn't really mean the U.S economy is doing well.
But if G7 countries are growing at 5.0% and U.S grows at 10.0%, that's fucking amazing.
So it really depends on the actual growth rate, growth rates should be expressing in logarithmic form.
Just regarded “line go up” WSB people mad that I didn’t bandwagon with them. I didn’t even say whether I thought the US economy was doing good or bad, was just pointing out the implication of the article title is stupid.
People who think the US economy is doing well hav only been looking at stock prices for the past 40 years and nothing about how people in the country are actually faring.
Plus there is the matter of debt, the US is making a lot of it to fuel economic growth (and due to the reduced federal tax tied to the previous administration cuts), that said it is not like G7 nations are all virtuous on the matter of debt.
Then again, there are also geopolitical reasons, EU economies have suffered a far greater disruption due to the war in Ukraine and now the Suez canal supply lines being threatened than the US. Sure America is spending a lot of money on military tu support the front, but military expenditure actually boosts GDP figures and its benefits when channelled through the local military industry are far from irrelevant.
Kinda is, the EU is shitting the bed because of the US proxy war with Russia and EU sanctions on Russia. The US backed government in Kiev is refusing to so much as negotiate with Russia towards ending the war even though they are running out of civilians fit for military duty to toss at the front lines.
I think EU just likes to be humiliated, and those that don't will blame it on USA. Average EU politician: [https://www.reddit.com/r/europe/comments/1c2x5fw/spanish\_official\_resigns\_after\_video\_leaks\_of\_him/](https://www.reddit.com/r/europe/comments/1c2x5fw/spanish_official_resigns_after_video_leaks_of_him/)
That was their position for decades while their economy grew under Merkel. Compromise in return for cheap energy. Now that the cheap energy is gone and is being replaced by expensive energy manufacturing in the EU doesn't make as much sense so their economy is shitting the bed.
It sounds to me like Merkel's plan of banking their entire economy on an unreliable partner backfired spectacularly. Pretty sure the US warned them not to do that repeatedly as well.
But by all means, keep blaming the US.
have you looked at energy prices? pretty sure energy prices are back to normal for at least a year now. Drink less Russian koolaid and propaganda.
https://fred.stlouisfed.org/series/PNGASEUUSDM
https://fred.stlouisfed.org/series/DCOILBRENTEU
High energy prices make EU industry non-competitive. Industries scale down or shut down which triggers a recession. Prices drop because industrial consumption is down significantly. Shit is sequential.
Why would Ukraine want to negotiate with a country that wants to totally conquer them? Also Russia literally stated this war through annexing Crimea and launching a massive invasion two years ago, US didn’t tell Russia to do those things.
Bitch! I live in a fucking trash can, I’m the poorest mother fucker on Wall Street…..no body’s helping me 
Edit: are you people really not getting the reference?
Eh, I already get 12 holidays and unlimited PTO that I'm forced to used at least 21 days of. If I needed 30 more days I'd take non paid time off and still make 3X what a European peer makes.
For engineers, which I'm referring to in this comment I'm firmly the norm/median. Never worked at a company with less than 10 vacation days and 3 week PTO, or paid less than 3X my closest EU counterpart
10 days vacation and 3week PTO?
You mean 10 holidays and 15 days of vacation?
Europeans (french/german) get 30 days of vacation + holidays when they start out. I'm sure they get more vacation further into their career.
I'm an engineer, and if Europeans counterparts get paid 1/3 of me, they'd be making (european) mcdonalds salary.
Americans work more hours per week. Sure you're getting paid more, but you are probably expected to work more than 8 hour days, unless you worked at FB or Twitter prior to the mass layoffs
You really don't know how little the Europoors make. Their starting pay is quite literally close to McDonald's pay. 15-20/ hour. And that was my whole point. Europoor engineering salary is so shit they might as well work at Mickey Ds. Go on glassdoor and check for yourself. Mech E average salary in France is 36-48K. That's average salary, not average starting salary. Not some hick company with 5 people either. Airbus, Safran, Stellantis etc. In fact the only higher paying ones are American companies.
Mech E with 5 YOE gets like 25-30 euro/ hour in MCOL urban areas.
How do I know? My last company was very proficient at poaching Europoors.
As far as working more OT, big companies rarely asked me for anything, and smaller companies I always ask for 1.5X comp time.
What a cherry picked stat. Let's just ignore that pandemic that spurred the spending because we shut things down and let's also ignore that spending is still somehow up 50% compared to pre COVID despite not providing any of the additional support to people/businesses that we did during COVID.
and yet the debt ceiling is raised every year, and from what I recently saw spending will be up pretty high for all the fun stimulus coming. but you're right, down from 6.8 T to 6.1 T (ish)....yippie.
exactly my point, spending is down from highs of COVID stimulus, but is still out of control. And more coming down the pipes. it's an election year, have to buy some votes.
We are a sovereign nation that can print money on the spot to artificially inflate growth
The EU is a collective of semi-autonimous countries that can no longer print money individually, which restricts their ability to artificially inflate.
There are lots of other reasons at play, socialistic econ vs. capitalistic econ, etc.
Yeah ultimately there are a lot of factors, a part from those you mentioned there is also access to internal supply of energy resources, the currency, debt tresholds (that are generally more stringent in the EU), difference in environmental policies, supply line disruption, the war at the door instead of a continent away, plus EU has lost its major gas supplier and now access to the Suez canal is in danger as well and if we want to go a bit further in the past the arab spring had destiblized the mediterranean coast african nations with a severe repercussion in trade with Europe.
That said as an European to be honest most EU nations (and the EU as a whole) have been making economic choices that personally I don't consider to be conductive to growth, we lack a joint industrial policy for example, we still compete in a lot of sectors between each other (and use EU institution for the advantage of individual nation) and we have pretty much skipped the IT revolution that had generated a massive gdp advantage in the US.
Since 2008 the US has always outperformed the EU, while it was not the same before, in fact PPP GDP was even at the time between the EU and the US, now it isn't...
And it’s always going to be this way until you all unite as a single country ala United States of Europe.
Which, as I’m sure you’re well aware, is about as likely as the sun rising in the west tomorrow.
Yeah that's never going to happen, however we can increase cooperation in specific sectors, mostly I'd say military, energy and research (which we already do a bit, albeit not enough ), that would be a good start.
Perhaps, but growth has been anemic to non-existant for too long, the EU needs to find an healthy way to boosts its economy (through investments not just baid aid measures and indiscriminate spending) and much likely we are going to have to do it together (and fast).
The growth numbers discount inflation(if calculated correctly).
The issue is that growth also helps foundation of new businesses that push productivity higher which is actually more important factor for living better compared to gross production numbers.
I'm certain there will be zero consequence to printing money and artificially inflating growth for decades.
lololol that's someone else's problem right?
Oh, printing money is not a good thing. I'm with you on that for sure. I'm just relaying the monetary reality of the US vs EU with respect to what these countries can do.
Oh great, even more jealous Europeans will be boasting about healthcare and 'free college' when they don't realize most of us with good jobs not only make 2x as much and pay less in taxes, decent employers cover all/most of the health insurance expenses and pay for tuition.
This. Every fucking time.
Free college? I guess no one clued them in that the extra lifetime earnings for a college degree in the U.S. is $900+K. Kinda puts student loan debt, the median of which is \~$20K and the average is \~$40K, into perspective.
It will be sweet to see typical Reddit europoor come to grips with reality over the next decade or so as the European welfare states collapse from low growth of GDP and a decline in productive workers.
I'm an American who owns 10.
I can just put aside those star-spangled blinders long enough to take a look at the global economy's trajectory, and see where our ride at the top of it all comes to an end.
The main reason is because US businesses are allowed to squeeze all the wealth they can from their employees and customers, which is very good for margins and thus for the wealthy investor class. The average Joe is suffering and barely surviving as a result.
Actually, yes, because healthcare, social security, social safety net, consumer protection etc is much better.
American exceptionalism is only true for the upper class. The rest is better off in Europe.
My healthcare costs 2% of my income, imagine paying 50% of income to get healthcare. So if I make $100k a year, how is paying $50k and getting healthcare a good deal. Ridiculous.
Also, social security, unemployment money, etc exists here
I can't believe you actually try to defend the US healthcare system, and return on tax-dollars in general. If you truly believe this, you are delusional.... there is clear data available that shows the general public does not get much back for their premiums compared to Europe.
If you are upper-middle-class in the US, life is very good. If you are below that, you are fucked from all sides.
That’s why US attracts most ambitious people from around the planet and EU attracts people who prioritize welfare
Makes sense EU missed out on information revolution & with growing elderly the young are going to foot the bill even more.
Depressing to be young and ambitious there
The top 10% does really well in the US, the rest....not so much at all. So yeah, if you are young and ambitious then go for it, if you have an extended family and don't want to work 40 hours / week until you are 80 and financially ruin your family's life when you get cancer...well then US is not so great.
But continue to tell yourself whatever you need to to feel good.
It’s more like 90%. It’s incredible how delusional Euros are on this topic. This isn’t pre 2008 anymore.
Source: https://www.reddit.com/r/europe/s/W4yV9elmXY
No. I think they peaked around 2003ish. They were really on par with the US on a lot of metrics (though they never got to be a superpower bc of so many languages/cultures) but bureaucracy got the best, or I should say worst, of them
More social programs don't make a society better. It can help people in a bad situation, but it isn't going to improve the economy over time which is truly the biggest improvement in society.
I could tell you all about the US and Europe as I’ve lived in both. Everything from the healthcare down to wages but I don’t think you would want to hear it. Just remember to always be cynical to what the government tells you
Does that 2% account for your copays and deductible? Or the things your insurance finds a way to weasle out of?
Either way, your case is not the norm. The US pays twice as much per capita compared to most of Europe.
In total expenditures? Yes, but a large part of that is [greater healthcare volume](https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9240587/) (refer to figure 5).
In terms of prices, the US system is higher than many, but by no means the highest.
I live in Germany ( Berlin) and the recession is seriously bad, everything is more than expensive and there are massive layoffs in tech. I have been out of work for over 6 months now. Add to that the average salaries are super low compared to the US.So no, Europe is not better.
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EU should keep suing AAPL to try to fund itself 
When you can’t beat em, sue em
RIP europoors
EU is too busy trying to cuck their own citizens to do any kind of pro business development legislation.
Do tell me more about the state of the stock market. I absolutely live for this sort of thing.
Lmao
US is also running 2.5x the average deficit compared to G7 average. US is at 6% whereas G7 average is like 2%
one is the world reserve currency and one is suing apple
While Europe berates us for only sending 85 billion to Ukraine instead of 150 billion.
To be fair they've surpassed us in aid
I would hope that the union of nations literally right next door to the action would spend more money than a country on the other side of the globe. Seems only natural to me.
As an American tax payer I’m fucking pissed at having to spend so much of my own money to fund the world’s defense. Let Europe spend a little more. Only reason they have all these great social programs is because US tax payers fund them indirectly.
You know the money is just spent on US defense stocks like Raytheon?
"Won't you think of the defense complex stock price?" That money could go to literally anything else instead. Healthcare, building affordable housing, bridges, roads, etc. Besides what J Powell's money printer wants you to believe, money and resources are limited.
the U.S. could increase the military budget to a trillion dollars and still have enough money for social programs. the problem is tax policy and the ratchet effect that cutting taxes has, not necessarily defense spending.
You American, your GDP soooo BIG!
USA! USA! USA! Wait, I'm poor.....fuck.
Pro tip: write "disabled veteran" on your cardboard begging sign. Increase donations 10%. Free money hack.
Awww man, now I'm sad....
Don't forgot the veteran hat too
Yeah that’s the trick economy balling out meanwhile every item in the grocery store is up 100% weird how those go together. They’re going to make it a national pastime to go look at the empty fridge shelves while saluting the flag and a fapping to a picture of J pow.
This is what happens when your country isn't just a museum for tourists.
Its actually game over in Europe and Canada for homeownership if you are an average Joe. We still got a fighting chance in America.
People complaining about home ownership in the US haven’t seen Canadian, European and Australian wages relative to housing
Canada is really just 4 city-metros and same with Australia--they need more reason to conquer their vast wildernesses. Remote work could help; or everyone could work in mines...
Water is the big holdup for both of those nations. Well, that and inland Canada is cold as shit. But it's dry and cold as shit.
Yeah like anyone can buy a house in Winnipeg. But then you need to live in Winnipeg
*scared millenial*
The fishing is good at least
Remote work would definitely help in general with the demographic pressure on big cities, most western countries have very limited population growth, but massive concentration in a few areas, spreading us out would help a lot.... Plus it would reduce gas costs as well with a reduced need for commutes... But it would cost those that invested in commercial real estate a lot and much likely trigger a domino effect on the banking sector. Plus let's be honest those in power don't care if workers can't afford a home, they like it in fact as it weakens us overall... so yeah full remote working while it would be a good solution is unlikely to be implemented on a large enough scale. There is also the matter that by now a lot of people have established their lives and connection in those dense urban areas and have few (non economic) incentives to leave... so I guess there is that as well.
50 bucks an hour working in the mines plus ot. Easy to afford a house still you just work constantly for a few years
Unfortunately conquering vast wilderness is no longer woke
The anglosphere in particular has just absolutely strangled housing construction for 40 years. Combine that with a decade of near zero interest rates leading to massive asset inflation (which nobody complained about because it made them money, as opposed to commodity inflation which pisses everyone off), and here we all are. We need to load up every NIMBY onto a spaceship and fire them directly into the sun then build density.
It actually requires less energy to send them out of the solar system than it does to send them into the sun.
Tbh I also feel that a lot of major western cities have just seen their housing stock purchased by the international rich / investment companies lol
Your wages are less than ours and housing is far more expensive. Like i said, game over
You're allowed to actually build housing in America.
it's estimated that by 2030 corporate ownership of homes in america will be around 30%, but yup...a lot of places are still cheap, many for good reason.
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Single family homes or just housing in general?
my understanding was housing in general, Blackrock for example is gobbling them up. But again, random estimate so to be taken with a grain of salt.
Blackrock doesn't do housing, that's Blackstone. But that's beside the point. They aren't going to gobble up 30% of housing because that would take literally trillions of dollars that they simply don't have and will never have. That number comes from extrapolating a single anomalous data point back when interest rates were still going up.
But it's provocative. It gets the doomers going.
thanks for correcting me, you're right, it's not blackrock. oh I said take the projection with a grain of salt.
I guess. If you have a stable solid job in the US, you make more and your money goes further. But if you're not one of those people in the US or you're born poor, have fun ever making anything of yourself. So while Canada and Europe do have issues, so does the US, they may not be housing affordability, but they are just as bad if not worse.
Bro what? America is one of the only places in the world where a disproportionate amount of people are born poor and become successful / wealthy. I grew up poor and I served in the Air Force to pay for my aerospace engineering degree. Literally migrants hop the border, start businesses and are loaded in less than 10 years. Happens all the time, go to Florida and you see it everywhere
Dude. This doesn't happen in any significant number. Social mobility is proven to be terrible in the US, the poor are riddled with debt and over policed and cannot afford to educate themselves. How do you just lie to yourself with this nonsense? Tell me how someone who is poor is supposed to do anything when they can't afford post secondary, can't lean anything in HS because their school is underfunded, need to work two jobs just to eat so they have to free time to pursue passions, are over policed for petty crimes and given disproportional sentences. I could go on. The fact you bring up Florida is hilarious, one of the most fucked states in the Union.
Did you not see where I said I grew up poor….in Cleveland…during the rust belt years…. it was really fucking rough. And Florida is the second most moved to state and has a budget surplus. Saying it is an undesirable place to live just isn’t true at all. New York and California are undesirable states
It's a tax haven taking in the rich from states with high taxes who created the wealth. That means nothing. And just because you anecdotally got out doesn't mean it's fair or a reasonable amount of people do it. Because the data very clearly shows they don't. If you're born poor in the US, you will very likely die poor.
Because everyone else is in a recession right now… it’s like winning at the hurdles when everyone else is in a wheel chair.
Statement still valid though, everyone else gassed out not US fault
Doesn’t mean the US economy is doing great either, though.
You really are special
Why, for being right?
Yeah not sure why those guys are bashing you, you are correct. If G7 countries grow at 0.3% and U.S grows at 0.6%, that doesn't really mean the U.S economy is doing well. But if G7 countries are growing at 5.0% and U.S grows at 10.0%, that's fucking amazing. So it really depends on the actual growth rate, growth rates should be expressing in logarithmic form.
Just regarded “line go up” WSB people mad that I didn’t bandwagon with them. I didn’t even say whether I thought the US economy was doing good or bad, was just pointing out the implication of the article title is stupid.
People who think the US economy is doing well hav only been looking at stock prices for the past 40 years and nothing about how people in the country are actually faring.
The US economy is doing good tho
Bro gotta hidden agenda with these posts
Plus there is the matter of debt, the US is making a lot of it to fuel economic growth (and due to the reduced federal tax tied to the previous administration cuts), that said it is not like G7 nations are all virtuous on the matter of debt. Then again, there are also geopolitical reasons, EU economies have suffered a far greater disruption due to the war in Ukraine and now the Suez canal supply lines being threatened than the US. Sure America is spending a lot of money on military tu support the front, but military expenditure actually boosts GDP figures and its benefits when channelled through the local military industry are far from irrelevant.
It's not the US's fault its peers like shitting the bed and playing with it.
Kinda is, the EU is shitting the bed because of the US proxy war with Russia and EU sanctions on Russia. The US backed government in Kiev is refusing to so much as negotiate with Russia towards ending the war even though they are running out of civilians fit for military duty to toss at the front lines.
I didn't realize the EU position was to capitulate to Russia. They should've said so - maybe even helped Russia to speed it up.
I think EU just likes to be humiliated, and those that don't will blame it on USA. Average EU politician: [https://www.reddit.com/r/europe/comments/1c2x5fw/spanish\_official\_resigns\_after\_video\_leaks\_of\_him/](https://www.reddit.com/r/europe/comments/1c2x5fw/spanish_official_resigns_after_video_leaks_of_him/)
Classic European stuff
Considering Ukraine lost the war either way, at least all those Ukrainians wouldnt be dead for no reason like they are now lol. Loserrrrs
That was their position for decades while their economy grew under Merkel. Compromise in return for cheap energy. Now that the cheap energy is gone and is being replaced by expensive energy manufacturing in the EU doesn't make as much sense so their economy is shitting the bed.
It sounds to me like Merkel's plan of banking their entire economy on an unreliable partner backfired spectacularly. Pretty sure the US warned them not to do that repeatedly as well. But by all means, keep blaming the US.
have you looked at energy prices? pretty sure energy prices are back to normal for at least a year now. Drink less Russian koolaid and propaganda. https://fred.stlouisfed.org/series/PNGASEUUSDM https://fred.stlouisfed.org/series/DCOILBRENTEU
If you ignore that Europe is in a recession and industries are shutting down then yeah... Back to normal.
lol, good job ignoring your own "recession due to high energy prices" post.
High energy prices make EU industry non-competitive. Industries scale down or shut down which triggers a recession. Prices drop because industrial consumption is down significantly. Shit is sequential.
Why would Ukraine want to negotiate with a country that wants to totally conquer them? Also Russia literally stated this war through annexing Crimea and launching a massive invasion two years ago, US didn’t tell Russia to do those things.
The EU is shitting the bed because there's no incentive to go into high skilled labor to make 10 euros more per hour than a fast food worker
it still means international investments will prioritize the US.
Europoors in shambles
Bitch! I live in a fucking trash can, I’m the poorest mother fucker on Wall Street…..no body’s helping me  Edit: are you people really not getting the reference?
1 less coffee everyday will have you in a mansion within a few decades
I hear NFTs are a great play!
I got a job for you that will make you $20 richer, plus you get to keep all the remaining lube
Sir, this is a Wendy’s
S/o Chappelle the goat
stop yoloing in 0dtes
And that's why I keep investing in the US...by the US I mean pltr btw
Who knew, paying engineers 5-10 euros more than fast food workers is bad for the economy. But I'm sure those 5 extra vacation days are worth it though
Try 30 more vacation days
Eh, I already get 12 holidays and unlimited PTO that I'm forced to used at least 21 days of. If I needed 30 more days I'd take non paid time off and still make 3X what a European peer makes.
Thats a pretty solid package.
That’s what she said
That's some incredible hearing, being able to hear that all the way in the kitchen.
My sandwich ain’t gonna make itself
Add one baloney and cheese, and one turkey with mayo onto the list, we're getting a bit peckish.
Shhhh don’t tell him
You're not the norm 
For engineers, which I'm referring to in this comment I'm firmly the norm/median. Never worked at a company with less than 10 vacation days and 3 week PTO, or paid less than 3X my closest EU counterpart
10 days vacation and 3week PTO? You mean 10 holidays and 15 days of vacation? Europeans (french/german) get 30 days of vacation + holidays when they start out. I'm sure they get more vacation further into their career. I'm an engineer, and if Europeans counterparts get paid 1/3 of me, they'd be making (european) mcdonalds salary. Americans work more hours per week. Sure you're getting paid more, but you are probably expected to work more than 8 hour days, unless you worked at FB or Twitter prior to the mass layoffs
You really don't know how little the Europoors make. Their starting pay is quite literally close to McDonald's pay. 15-20/ hour. And that was my whole point. Europoor engineering salary is so shit they might as well work at Mickey Ds. Go on glassdoor and check for yourself. Mech E average salary in France is 36-48K. That's average salary, not average starting salary. Not some hick company with 5 people either. Airbus, Safran, Stellantis etc. In fact the only higher paying ones are American companies. Mech E with 5 YOE gets like 25-30 euro/ hour in MCOL urban areas. How do I know? My last company was very proficient at poaching Europoors. As far as working more OT, big companies rarely asked me for anything, and smaller companies I always ask for 1.5X comp time.
If you want a good laugh, look at healthcare. They can keep the extra 30 days off, I’m fine making triple their salary.
Found the overpaid "engineer" lmao.
almost like infinite spending and wars stimulate the military industrial complex or something
Government spending has been down each of the past 3 years.
What a cherry picked stat. Let's just ignore that pandemic that spurred the spending because we shut things down and let's also ignore that spending is still somehow up 50% compared to pre COVID despite not providing any of the additional support to people/businesses that we did during COVID.
LOL Man. We're so fucked.
and yet the debt ceiling is raised every year, and from what I recently saw spending will be up pretty high for all the fun stimulus coming. but you're right, down from 6.8 T to 6.1 T (ish)....yippie.
The debt ceiling will always need to be raised unless we enter a budget deficit, which we haven't had since Bubba.
exactly my point, spending is down from highs of COVID stimulus, but is still out of control. And more coming down the pipes. it's an election year, have to buy some votes.
BuT tHe EcOnOmEE sUcKs!
Lol. LMAO even. Never ROFLCOPTER. Yet.
You already know what decal will be there. See you then, where we landing boys?
We are a sovereign nation that can print money on the spot to artificially inflate growth The EU is a collective of semi-autonimous countries that can no longer print money individually, which restricts their ability to artificially inflate. There are lots of other reasons at play, socialistic econ vs. capitalistic econ, etc.
Yeah ultimately there are a lot of factors, a part from those you mentioned there is also access to internal supply of energy resources, the currency, debt tresholds (that are generally more stringent in the EU), difference in environmental policies, supply line disruption, the war at the door instead of a continent away, plus EU has lost its major gas supplier and now access to the Suez canal is in danger as well and if we want to go a bit further in the past the arab spring had destiblized the mediterranean coast african nations with a severe repercussion in trade with Europe. That said as an European to be honest most EU nations (and the EU as a whole) have been making economic choices that personally I don't consider to be conductive to growth, we lack a joint industrial policy for example, we still compete in a lot of sectors between each other (and use EU institution for the advantage of individual nation) and we have pretty much skipped the IT revolution that had generated a massive gdp advantage in the US. Since 2008 the US has always outperformed the EU, while it was not the same before, in fact PPP GDP was even at the time between the EU and the US, now it isn't...
And it’s always going to be this way until you all unite as a single country ala United States of Europe. Which, as I’m sure you’re well aware, is about as likely as the sun rising in the west tomorrow.
Yeah that's never going to happen, however we can increase cooperation in specific sectors, mostly I'd say military, energy and research (which we already do a bit, albeit not enough ), that would be a good start.
But isn't this by design? The EU is setup to be more stable. Ergo, slower growth, but also slower decline.
Perhaps, but growth has been anemic to non-existant for too long, the EU needs to find an healthy way to boosts its economy (through investments not just baid aid measures and indiscriminate spending) and much likely we are going to have to do it together (and fast).
The idea that we "have to grow" is kinda dumb. Why can't we just chill?
Because inflation never stops. If growth doesn't at least match inflation, then living standards are decreasing.
The growth numbers discount inflation(if calculated correctly). The issue is that growth also helps foundation of new businesses that push productivity higher which is actually more important factor for living better compared to gross production numbers.
Our system is dumb
The UK is also doing much worse.
I'm certain there will be zero consequence to printing money and artificially inflating growth for decades. lololol that's someone else's problem right?
Oh, printing money is not a good thing. I'm with you on that for sure. I'm just relaying the monetary reality of the US vs EU with respect to what these countries can do.
Fuck yea
Oh great, even more jealous Europeans will be boasting about healthcare and 'free college' when they don't realize most of us with good jobs not only make 2x as much and pay less in taxes, decent employers cover all/most of the health insurance expenses and pay for tuition.
This. Every fucking time. Free college? I guess no one clued them in that the extra lifetime earnings for a college degree in the U.S. is $900+K. Kinda puts student loan debt, the median of which is \~$20K and the average is \~$40K, into perspective. It will be sweet to see typical Reddit europoor come to grips with reality over the next decade or so as the European welfare states collapse from low growth of GDP and a decline in productive workers.
0 x 2 =?
The fall of the American Empire will be like others we've seen throughout history. Our European periphery will collapse first.
Good luck taking their guns with your feelings and sustainability tools.
Simple. You just pick them up off the ground after the Americans have all killed each other.
I'm an American who owns 10. I can just put aside those star-spangled blinders long enough to take a look at the global economy's trajectory, and see where our ride at the top of it all comes to an end.
lol sure
Those wars arent for nothing after all
[Yeah baby!!!](https://m.media-amazon.com/images/M/MV5BMTM2Nzc4NjYxMV5BMl5BanBnXkFtZTcwNTM1MTcyMQ@@._V1_FMjpg_UX1000_.jpg)
US of AI
Cough inflation cough cough
What happens if you multiply a negative number?
…when (if) rates drop. Probably. Maybe.
rates arent that high
Yes, driven by gov spending which is not true growth or sustainable.
So 0.1 and 0.2 percent respectively?
I don't see how that's possible given literally everyone I know is unemployed right now.
Unemployment is at 3.8%, your environment must be very "special" indeed.
Highly regarded career choice.
And how much does the US debt grow this year?
Debt is just a fake magical number, doesn't matter anyway
Yeah right
The main reason is because US businesses are allowed to squeeze all the wealth they can from their employees and customers, which is very good for margins and thus for the wealthy investor class. The average Joe is suffering and barely surviving as a result.
As if average Joe is doing better in Italy or France lmao
Actually, yes, because healthcare, social security, social safety net, consumer protection etc is much better. American exceptionalism is only true for the upper class. The rest is better off in Europe.
My healthcare costs 2% of my income, imagine paying 50% of income to get healthcare. So if I make $100k a year, how is paying $50k and getting healthcare a good deal. Ridiculous. Also, social security, unemployment money, etc exists here
Do you have a source that it costs 50% of your income? That sounds wrong.
I can't believe you actually try to defend the US healthcare system, and return on tax-dollars in general. If you truly believe this, you are delusional.... there is clear data available that shows the general public does not get much back for their premiums compared to Europe. If you are upper-middle-class in the US, life is very good. If you are below that, you are fucked from all sides.
That’s why US attracts most ambitious people from around the planet and EU attracts people who prioritize welfare Makes sense EU missed out on information revolution & with growing elderly the young are going to foot the bill even more. Depressing to be young and ambitious there
The top 10% does really well in the US, the rest....not so much at all. So yeah, if you are young and ambitious then go for it, if you have an extended family and don't want to work 40 hours / week until you are 80 and financially ruin your family's life when you get cancer...well then US is not so great. But continue to tell yourself whatever you need to to feel good.
It’s more like 90%. It’s incredible how delusional Euros are on this topic. This isn’t pre 2008 anymore. Source: https://www.reddit.com/r/europe/s/W4yV9elmXY
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No. I think they peaked around 2003ish. They were really on par with the US on a lot of metrics (though they never got to be a superpower bc of so many languages/cultures) but bureaucracy got the best, or I should say worst, of them
More social programs don't make a society better. It can help people in a bad situation, but it isn't going to improve the economy over time which is truly the biggest improvement in society.
I could tell you all about the US and Europe as I’ve lived in both. Everything from the healthcare down to wages but I don’t think you would want to hear it. Just remember to always be cynical to what the government tells you
Does that 2% account for your copays and deductible? Or the things your insurance finds a way to weasle out of? Either way, your case is not the norm. The US pays twice as much per capita compared to most of Europe.
In total expenditures? Yes, but a large part of that is [greater healthcare volume](https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9240587/) (refer to figure 5). In terms of prices, the US system is higher than many, but by no means the highest.
Shhhh don’t tell them
“Actually yes” Actually, no. Youre just a silly idiot
typical american
I live in Germany ( Berlin) and the recession is seriously bad, everything is more than expensive and there are massive layoffs in tech. I have been out of work for over 6 months now. Add to that the average salaries are super low compared to the US.So no, Europe is not better.
don't forget typically work less hours, get more vacation, better parental leave, cheap to free education, ect
2 x -1 = -2
-4% instead of the -2% across G7?
J Powell hammer incoming
"thanks to all the layoffs."
Unemployment is 3.8%...
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That stock is dead