221–230 of 1001 posts
Earlier quoted context omitted.
Can you expand on this? What do you mean by "monetized in the US stock market"?
I'm not GP, but they probably meant "realized" (not "monetized")
Tech is the problem. The internet is global (or perhaps two or three regions), and winner takes all - so global value creation is being experienced everywhere, but being monetised in the US stock market. Take tech out of the equation and the US is pretty much on par with EU, and China and India are just burning the coal for everyone else.
These articles also gloss over the US market is 400m English speakers with one set of legislation, more or less. Europe is 20+ languages and 20+ sets of legislation. That’s a colossal advantage. And any clicks and mortar business gets the benefit of absurdly cheap shipping costs compared to Europe.
Having said that, not sure the SK model is something to emulate given the social problems it seems to have caused
Earlier quoted context omitted.
This feels like a huge generalization to me. The US, UK, EU and realistically most developed countries I would say have fairly similar quality of life within margin of error. I've travelled a fair amount and everywhere is basically the same. For an individual it's really going to come down to lifestyle and what you prefer. Some people like urban living and walkability, if that's you then you probably want Japan or ol…
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My commentary as someone on the inside who has also been on the outside looking in:
> Incredibly expensive, low wages
Pick one. Wages trend higher where it’s expensive. Wages trend lower where it’s not.
There are also tough-to-see subsidies like prop 13 and rent control in CA (as an example).
Currently the US appears expensive from the outside due to a strong dollar.
From the inside, it’s more nuanced — specifically, the distribution of wealth across the capital class and the worker class is skewing much more towards the capital class than at any time in our lives, but is trending towards a common state if looking at a longer time scale.
> no safety net,
No European-style safety net.
Japan doesn’t have a safety net either. Is it “horrible”?
The US has a substantial safety net via charity. Most of the people seen in the news who need it (e.g., homeless folks) choose not to use it, since it comes with restrictions like not being on drugs.
> car and health insurance are mandatory,
Yay?
Fwiw, health insurance is federally subsidized for low income folks.
Car insurance is a good thing, imho.
> homelessness everywhere,
In many cities, yes. Outside of those… not really. If you don’t live or work in a city, this is only something you see on TV.
> gun violence is rampant,
None of my friends, family, or acquaintances in my entire life have been a victim of gun violence. I know of three people who committed suicide with their own guns (which is counted in “gun violence numbers”), but I don’t think that’s what you’re referring to.
I realize that’s a class issue, and that there is more gun violence in the US than in Europe, but it’s just not part of the day-to-day reality for most people.
> and the government is a dictatorship disguised as a democracy
Objectively not true, at least for now.
The system of checks and balances baked into the US system is failing tragically at the moment, but we are not at the level of a dictatorship yet.
> No one would actively choose to live there if it wasn’t for high salaries in certain fields.
I don’t think that this is universally true.
I know plenty of immigrants who make their money, retire, and choose to stay in the US. Some people go back, but a lot stay, and with purpose.
Earlier quoted context omitted.
The only one provoking a war in Europe is Putin. And the Germans destroyed their energy sector themselves.
Are you under the illusion that nuclear would have helped, or are you complaining they didn't keep burning coal?
I am.
> owing to its abundant domestic energy supplies,
Energy is wealth. In so far as I can tell we have better data, going back further, and being more strongly correlated to outcomes of interests, than the data we have on monetary systems. I have my doubt the FT will ever dare to entertain that position.
Energy has an enormous cascading effect. But it pops up directly as well. ChatGPT could not run at 5x the base energy costs and no suppliers able to scale to more demand.
If you're looking to explain the US upward trends always include their shale output in your graph as well. You'll find you rarely need more explanations.
It has been blessed by their resources, an enormous size granting a low population density, and a functioning liberal state to use those well.
The rest is pandering and ideological pleas for less tax and less regulations.
And i mean... if you're going to pander, you're going to pander to the people with the cheapest energy.
Tech is the problem. The internet is global (or perhaps two or three regions), and winner takes all - so global value creation is being experienced everywhere, but being monetised in the US stock market. Take tech out of the equation and the US is pretty much on par with EU, and China and India are just burning the coal for everyone else.
Can you expand on this? What do you mean by "monetized in the US stock market"?
This is an interesting take, because it contrasts with GDP PPP [0] which is suggesting that America is in fact being overtaken by its rivals although it has managed to outpace the EU. China is claiming to already be ahead and India is well on track to gain absolute economic ascendancy relative to the US. And I expect that Asia is going to start developing some serious military muscle on the back of that because they…
What's this conspiracy of the US and Europe to destroy developing large economies world wide? If your plan is take over your neighbors, say you'll wipe out democracies and kill people and it's your destiny to win, then eventually the US & Europe will do something. Russia literally talks about taking over the countries around them, bites off pieces and then subverts the countries that are left. That was all before the…
This is an interesting take, because it contrasts with GDP PPP [0] which is suggesting that America is in fact being overtaken by its rivals although it has managed to outpace the EU. China is claiming to already be ahead and India is well on track to gain absolute economic ascendancy relative to the US. And I expect that Asia is going to start developing some serious military muscle on the back of that because they…
Europe is willingly self sabotaging their industry and energy production, in the name of some completely irrational environmentalist ideology that states that saving the planet is achieved by making Europe poorer while allowing China, India and a few others to pollute without any restrictions. So yeah, we are getting poorer by the day and on the brink of a major economic crisis. Just look at what is happening in Germ…