I have been traveling a lot lately and noticing the difference between the cantillionaires and the rest of us. In big countries with their own central banks like latin america, the USA and a few others it very obvious the effect of being near the central bank printer. You will notice a lot of very rich people near the printer and the big cities around it. What is not very obvious and kind of sad to observe are small and less political countries in the EU. While mostly Germany, France and Belgium get the fresh money first, other countries especially those in the south part of Europe are being devastated. On one side countries like Greece and Spain using the euro it acts like a sound money compared to what their govt and old central banks would have printed, on the other side they are much poorer than and have no incentive to work, resulting in big stagflation scenario, there's no job for young people, and pratically the survivors are those with capital, beit real estate to rent for tourists and small business owners. On a more deep way, the poor people of europe live on a much lower time prefrence than those in the USA and south america, with mainly no credit card and a simpler life, in the americas the poor usually drive new cars, have iphones and credit cards. Do you have the same experience?
pull down to refresh
0 sats \ 1 reply \ @cryotosensei 19 Sep 2024
I have always wanted to know how people manage to survive if they don’t work, in countries with high unemployment rates like Italy and Spain
reply
0 sats \ 0 replies \ @Butterfinger OP 20 Sep 2024
it's quite simple, the extreme case of my knowledge being Sicily. They work for s short peiod of time on a relative's bar, resturant or something like that, sometimes it's real work, sometimes just on paper. Soon after they ask for the govt disemplyment help and live for months like that. Others have property and rent as BnB and so on...
reply