The European Union was an Economic BAILOUT: New wealth report finds The typical Chinese adult is now richer than the typical European adult, a new wealth report finds (Working Hours) – September 24, 2022,
If the Yahoo.com article I point to in this post doesn’t wake people up to the FAILURE of the Welfare State, I don’t know what else will. Bernie Sanders likes to brag about the Welfare State in certain European countries, and my rebuttal to the Bernie Sanders brand of Democratic Socialism is that Europe is HEAVILY dependent on what I call POINT OF SALE taxes, which PUNISHES consumers for CONSUMING.
The United States revolves around CONSUMPTION, this might sound unsustainable, which it is, but it’s a much better construction based on the Fiat monetary system the world has embraced. Personally, I think most taxes should be abolished, but INCOME TAXES are a good way to see how PRODUCTIVE people are in western society; not only are income taxes a good measure of productivity but these income taxes should be the result of PRIVATE SECTOR productivity.
I personally don’t consider income taxes collected by any level of government actual taxes, so when a public sector worker pays income taxes, it’s merely a tax recycled from the private sector that the public sector employee then donates back to the government.
If you’re finding it hard to comprehend why public sector workers don’t pay income taxes, it’s because government revenue comes from the PRIVATE SECTOR; the only other revenue government can get that doesn’t come from the private sector comes from the government BORROWING money and redistributing it, to people and entities aligned with the government’s agenda, ofcourse when the government DEFICIT spends, the result is malinvestment in the general economy.
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Now, when I write about malinvestment, I like to point out that this malinvestment from deficit spending tends to equate to MORE GOVERNMENT REGULATIONS on economic activities. In the European Union, as an example, their representatives basically regulated Fossil Fuels out of existence, to the point that EU member states became reliant on Russian Gas.
The North Atlantic Treaty Organization(NATO) potentially unknowingly had been PROVOKING Russia, which occurred primarily because of the STRENGTH of the Euro(€). When you feel rich and powerful, you’ll behave like you’re rich and powerful; like it or not The Ukraine used to be part of Russia, and whether you accept it or not, Russia wants to secure its own borders and protect its own people, from what it calls Nazis.
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As EU member states were virtue signaling their values onto others, Putin was imagining Western aggression as a threat to Russia, and being that EU members have for the most part been dissolving themselves into SERVICE SECTOR economies, the GAS STATION of Europe was taking more control over the MEANS OF PRODUCTION. Now, not only was Russia taking over the means of production for Europe, but CHINA also had been taking over the means of production.
People tend to forget Karl Marx, or Marxism revolves around a group of “enlightened” individuals who represent the will of the people taking over the MEANS OF PRODUCTION. If I own the means of production, in order for you to preserve your standard of living, you’re going to have to send you money to ME.
Now, sure because Europeans enjoy more liberties and freedoms than Russian and Chinese citizens, it’s only natural more people would prefer to hoard EU fiat dollars, but if you’re EU currency is destined to go to China to buy Chinese-made stuff. Eventually, the average Chinese citizen will have the opportunity to earn more money than a European could ever dream of.
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A few things I have to point out about the article below is that firstly, members or close associates of the Chinese Communist Party make a LOT OF MONEY. So I’m sure the average Chinese citizen reading that data is probably saying to themselves that data doesn’t represent what’s really happening in China, but I argue that’s not true.
You have to remember that the money taken by the Chinese Communist Party to fund their lavish living would have belonged to the PEOPLE of China had the Chinese government not been so overreaching. What I’m getting at here is that if the Chinese Communist Party were to fall, China might resemble Taiwan or Hong Kong.
According to Salary Explorer, the median salary in Taiwan is 1,550,000 TWD (USD 55,625) which is WAY above Europe, where the average adult has a wealth of $26,690. So, if we’re to be honest hear, Europe is already a FAILED State; it’s basically being propped up by the strength of The Euro(€). I remind you that The Euro(€) was only created in 1999.
I argue the creation of The Euro(€) was to help Germany find buyers for its products. Germany, which has its own problems, had a hard time COMPETITING for market share because German Engineering, as most people know, is among the best in the world. Now, obviously, German history is plagued with various forms of Socialism, whether it’s Democratic, Environmental or National Socialism, the Germans have tried and failed socialist experiments plenty of times, and they don’t seem to be learning their lesson because UNION culture is a huge problem in Germany.
People tend to forget that the Nazis were an acronym for the National Socialist German Workers’ Party (Nationalsozialistische Deutsche Arbeiterpartei). The mainstream media, ofcourse attempts to PIN National Socialism to Conservatives, which is ridiculous once you comprehend that Nazis, just like the Marxists, wanted the GOVERNMENT TO CONTROL THE MEANS OF PRODUCTION. But I want to point out that Nazi means the National Socialist German WORKERS‘ Party.
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Hitler was appealing to LABOR UNIONS, which is something the Chinese Communist Party(CCP) DOES NOT allow. Chinese Communism/Socialism has CHINESE characteristics. The CCP, like most Left Wing Socialists, thrives via CENSORSHIP. Still, because China is an old civilization, the CCP picks and chooses what parts of capitalism and socialism it likes, which to date has led to China, from an economics perspective having a SUPERIOR Left Wing economic model to that of European member states.
Although the numbers below aren’t accurate reflections of the standard of living in Mainland China, the reality is that if the Chinese Communist Party were not in the way of progress for the Chinese people, Europe would be in far worse shape than it is now. I also have to point out that one of the reasons the Chinese are WEALTHIER than Europeans is because of the lower COST of living; one of the benefits of owning the means of production is what you DON’T have to import.
There are a lot of FINISHED goods in China, and in order to finish goods, most western nations have to SEND China their raw materials and IDEAS. Now, I can obviously go on and on about this stuff, but I hope you’re seeing my point here. The European Union, as constructed right now, is already a failure that’s being propped up via the strength of The Euro(€).
I’m not saying all EU member States are bankrupt, but enough are to where it’s a problem that requires a drastic change to how business is conducted in Europe.
Interesting times ahead!