> In 2008, the EU and the US economies were roughly the same size. But since the global financial crisis, their economic fortunes have dramatically diverged. As

> In 2008, the EU and the US economies were roughly the same size. But since the global financial crisis, their economic fortunes have dramatically diverged. As Jeremy Shapiro and Jana Puglierin of the European Council on Foreign Relations point out: “In 2008 the EU’s economy was somewhat larger than America’s: $16.2tn versus $14.7tn. By 2022, the US economy had grown to $25tn, whereas the EU and the UK together had only reached $19.8tn. America’s economy is now nearly one-third bigger. It is more than 50 per cent larger than the EU without the UK.” > The aggregate figures are shocking. Underpinning them is a picture of a Europe that has fallen behind — sector by sector. https://www.ft.com/content/80ace07f-3acb-40cb-9960-8bb4a44fd8d9 https://www.ft.com/content/80ace07f-3acb-40cb-9960-8bb4a44fd... Because of the magic of compound interest, the EU will continue to fall behind at an increasing pace, as well as their quality of life. EU is already very poor if you travel around outside the tourist cities. American capitalism is the greatest wealth engine ever created, and I pray it continues to exist. It is currently the only hope the world has for increased standards of living.