Funny. My Spanish rates are down a lot. After spiking in 2022.
And business seems to be doing very well, with a horde of tourists - not in Bilbao, because we don’t get many ever.
One reads, as an example: "In the past, the continent's formidable export industry might have come to the rescue. But a sluggish recovery in China, a critical market for Europe, is undermining that growth pillar. High energy costs and rampant inflation at a level not seen since the 1970s are dulling manufacturers’ price advantage in international markets and smashing the continent's once-harmonious labor relations. As global trade cools, Europe's heavy reliance on exports—which account for about 50% of eurozone GDP versus 10% for the U.S.—is becoming a weakness."
"Europeans Are Becoming Poorer. ‘Yes, We're All Worse Off.’"
Source: https://www.wsj.com/articles/europeans-poorer-inflation-economy-255eb629
Similarly: "Energy market dynamics in 2023 will be just as challenging for Europe as in 2022, and input costs will remain high for years. This will make some industries uncompetitive, leading to a loss of global market share."
Source: https://www.eiu.com/n/campaigns/europe-outlook-2023/
"The Western European economy was weighed down by high energy prices over the winter period. The first quarter of 2023 brought some relief, though GDP was largely stagnant."
Source: https://www.jpmorgan.com/insights/research-mid-year-outlook
CNBC publishes: "A U.S. recession is coming this year, HSBC Asset Management warns — with Europe to follow in 2024"
Source: https://www.cnbc.com/2023/06/27/hsbc-global-economies-are-out-of-sync-2024-will-be-a-year-of-contraction.html
Looking to the "Nominal and real wage growth (consumer wages)" in "The euro area economic outlook" is interesting.
Source: https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230106~1729730341.en.pdf
Thus, "business seems to be doing very well" is an individual's assertion against another's individual assertion, "My electric bill went from ~80 Euros per month pre-sanctions to ~200."
From all our neighbors and friends from the decades my wife and lived in Germany, I reject the anecdote "business seems to be doing very well" based on their consistent tales of rising costs and more.
It comes to this. In the "Ukraine" threads -- complete with comments removed in an inordinate amount compared to other threads -- the assertions that 'everything goes well' seems disingenuous with a purpose, and that purpose is to bolster money being sent to the Zelensky administration, as, in this thread's case, money being amassed by a YouTube blogger. It's about money.
I will take the WSJ, EIU, JPMorgan, CNBC and ECB assesments of Europe's current economic problems over a single comment, "business seems to be doing very well."
"Europeans Are Becoming Poorer. ‘Yes, We're All Worse Off.’" the favored blogger "seems to be doing very well."
"$ 97.1K
LAST 90 DAYS
Source: Source: https://tz.youtubers.me/denys-davydov/youtube-estimated-earnings/en
Putting that into a Free Republic perspective, mom's Davidov is besting the donations amount from all those Freepers who donate to this forum.