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).
Baby boomers have trillions of money put by for their retirement.
That money is invested in `the future`, because that is what investment is.
When you `invest`, your money is spent, gone, invested in some project or other.
To pay you back, that project has to generate the required amount of new money.
Now, we have a problem…..the boomers are wanting their money and the projects are not generating the required amount of new money.
Now, we have a problem….Good, solid, long-term cash-flow rich projects have become harder and harder to find………so projects have been getting shorter and shorter-term. The Western economies are not constituted in a way that will generate the extra money needed to pay back the boomers` savings.
I don’t think the boomers know it yet….but the chances of them seeing their savings ever again is evaporating fast.
Central banks get their charters (license to print) from governments.
This is a pact between devils, the banks and the government, who both get what they want – They both get a sugar daddy.
The banks pay by having to submit to governmental regulation.
The government pays with the promise of tax-payer money if things get way out of control.
This was `the old system` – Deflate and may the best man win……but that was in the times of manufacturing. Now the `best men` are all invested in the FIRE economy, so would all lose……(and that would not do~!)