The US economy is the best of a bad bunch.
The Eurozone economy is the worst.
Why is it so bad~?….
Because we seem to be moving into a era of government controlled economies (and the Eurozone doesn’t have a government).
One thing is becoming clearer and clearer to me (I know I am slow) and that is that politicians do not really know what they are doing.
I think we have a sort of, `reverse over-the-peak` thing going on. That is – The OECD economies have been cruising downhill on cheap energy for 150 oil years (and a 100 coal years before that).
It is looking like we are passed the reverse-peak and now are heading uphill from here on in (unless there is a technological miracle).
Before the cheap-energy run downhill, the world population was about half the population of modern China.
Cheap energy helped to sustain the increased population in a trillion different ways. Each day from now on, thousands of those little ways of sustaining the population are going to stop working like they used to.
Effects in most systems start becoming apparent `at the margins`.
We, in the OECD are not `at the margins`, but will have to share the world with millions of people who are (and thousands of politicians who don’t know what to do about it).