Highlights
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2024-10-02 15:36 But the point is, the success of the United States didn’t come as a result of a big plan by a big genius like a Mario Draghi. Right.
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2024-10-02 08:47 That’s not a big deal for a mature country to be spending.
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2024-10-02 08:26 Or what draghi is saying is that this is what is happening to the continental Europe economy, and that it’s based on an inability to boost productivity. And if we don’t boost productivity, Europe will fail.
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2024-10-02 08:34 Well, I think that the late 19th century, early 20th century was a period of so much scientific innovation and scientific discovery, but there hasn’t really so much industrial discovery coming from scientific discovery that what you had was a total.
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2024-10-02 08:43 On the way to get Tesla, I failed twice, and only by failing did I learn. And I’m going to run a bestseller. You know about failure, right? Europeans run a mile from failure.
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2024-10-02 08:21 And is that because Europe, we’re just a bit tired, you know, because we’re old? Well, I’m joking, but I kind of mean that seriously, like we’re an old population and getting older, therefore perhaps don’t have as many innovators, don’t have the same kind of energy.
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2024-10-02 15:39 You’d probably be Ajit if you were saying, oh, sorry, I’m working this weekend. The French just look and you say, what? Okay, but the weekend, no, but the.
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2024-10-02 15:40 What draggy is saying to come back to him is that is yesterday’s Europe. And unless we can actually kickstart the economy, all those good things will end up disappearing because we can’t pay for them.
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2024-10-02 15:36 Now, in fairness, Joe Biden’s build back better is like an american version of Draggy’s plan. But Joe Biden’s build back better is only the last four years, whereas where the Americans got their head start was in after the collapse of.com in 2001, 2002.
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2024-10-02 08:19 So Mario Draghi was an economics professor from Florence. He then became a technocrat in the central bank of Italy.
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2024-10-02 08:23 And it was in response to immigration. Right? And he said, Europe is a garden. We have built a garden.
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2024-10-02 08:24 And outside is the jungle. But what dragi is saying is the garden is infertile, the garden is condemned, the garden needs a gardener, and the gardener is going to sleep.
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2024-10-02 08:36 So the European Union being emblematic of it, peace in Europe being the product of it, security in Europe being the upshot of it, the fact that Europeans live well and we have a nice lifestyle. These are all the fruits of the last 50 years of what we call european progress.
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2024-10-02 08:38 So there is no single market. So this idea, this idea that, you know, Europe is a single market of 400 million people.
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2024-10-02 08:38 Or German. Or get a german bank account, for. Example, or get a mortgage, or get. A mortgage from a french bank at much lower interest, you cannot do it, right?
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2024-10-02 08:49 And so you get this very, very vicious cycle where european underperformance leads to national insecurity, national insecurity leads to a fear of migrants and a fear of foreigners.