Posted on 04/26/2024 5:35:46 AM PDT by Cronos
Europeans are less ambitious and don't work as hard as Americans, said Nicolai Tangen, the CEO of Norway's $1.6 trillion oil fund.
"There's a mindset issue in terms of acceptance of mistakes and risks. You go bust in America, you get another chance. In Europe, you're dead," Tangen told The Financial Times in an interview published on Wednesday.
"We are not very ambitious," Tangen added. "I should be careful about talking about work-life balance, but the Americans just work harder."
Tangen made these remarks as he gave an overview of his firm's push toward investments in the US, which now make up half of the equities held by Norges Bank.
Norges Bank is in charge of Norway's sovereign wealth fund, which manages revenue from the country's massive oil and gas reserves and holds some $1.6 trillion in assets.
"We just invest in America in great companies for the long term. It won't have any implications for how we allocate our capital," he said of the election, per the FT. "We have nearly half the assets in America, we will stay invested in America."
The CEO added that US shares have been beating Europe's because American companies are innovating and growing technology faster than their European counterparts, telling the FT that he felt the trend is "worrisome."
...The average polled US worker said they worked 1,811 hours a year, or about 35 hours a week, compared to an average of 1,571 hours a year among workers in European Union countries. That's also compared to a total average of 1,752 hours a year documented by the OECD.
(Excerpt) Read more at businessinsider.com ...
Americans only work harder only WHEN IT IS IN THEIR SELF INTEREST TO WORK HARDER. That is what capitalism is all about. American socialists are trying to change that formula. American people of all races, religions and creeds are not stupid.
And this one works harder than the average three of his neighbors.
When Volvo brought offices and manufacturing to America, they prided themselves om the Swedish model of lots of time off and work-life balance. Then they instituted the typical American 2 weeks of PTO which they cited as “required in the US”. No amount of logic could dissuade them. Then they hired 1099 workers to limit the benefits they gave out.
There’s a bit more to it than that for a lot of people.
Europeans figured out long ago that they didn’t need to work harder or pay more for security. They know America will sacrifice their futures blood and treasure for them. The suckers are Americans, while Europeans vacation and drink coffee.
“Greed is Good”
“Greed Works”
The problem with most of these European countries that they are taxed at such a high rate that there is less incentive to work hard, take risk and be an entrepreneur.
we have to because otherwise the 100’s of millions of illegals and H1B Indians will steal our jobs.
The illegals pay no taxes so they can work for 1/2 the wage of an American - so Americans have to work 2X as hard.
This does not set up a nice future for our children or grandchildren - but neoCON scum only care about ‘muh corporations!’ and the MIC - SCREW main street Americans!
This is why they HATE Trump so much! Because he cares about main street Americans more than ‘muh corporations’
No incentive when they are taxed 35%. This is hwere we are headed soon if they have their way.
https://planetnorway.com/taxes/
Where...
The globalists are doing all they can to ensure that Americans no longer work harder.
The other thing I noticed in Europe was that everything shuts down in the middle of the day for luncheon. Not for just an hour. Everyday several hours during the middle of the day.
This is how in Italy you separate the “authentic” restaurants from the “tourist” restaurants. The tourist ones are open for lunch.
In addition, do not visit Europe in August. Almost everyone takes the entire month off. So, every beach is packed. Every spot frequented by European tourists is jammed.
America still has some of that “Puritan work ethic” (for lack of a better term). I doubt it that part of the culture will stick around for much longer though.
Americans used to work harder!
The older Americans still do, the younger ones are the same slackers as the ones in Europe.
It is a unique area. You would come home from work from a base, in Germany or Netherlands, and try to go to the market. Nope, they closed at 5 or 6pm, no groceries for you. And when you did have time to shop, you bought alot, which is a typical thing that we do as Americans. Nobody wants to shop everyday, and they would stare at ya.
Beautiful place to live and see though.
The Mrs and I have been watching a lot of shows on YouTube about houses for sale in Italy. Some are old structures where bathrooms, indoor plumbing and electricity literally had not been invented when they were originally built.
So, if they have a shower, it is about the size of one we might have in an RV. Electrical lines are in channels attached to the wall made out of rocks, concrete and plaster.
In addition, closets are almost never part of the floor plan. They have these huge wardrobes that take up a lot of space in the bedrooms. Which are also very small. More like a cell.
There are no “open concept” houses. Unless they have been extensively remodeled. Usually, because they were owned by a Brit as a vacation home. You see a lot of this in Tuscany.
Again, this is why some of these “houses” in Italy are so cheap. The 1EU homes all need extensive renovation. They are also primarily in the “hill towns” of southern Italy that have so train service. May of the towns have no bus service either. Plus, there are also thousands that are 15k-40K that also need extensive renovations.
However, coastal properties in southern Italy, Sicily, even Sardinia are much cheaper than they would be anywhere in the USA. Also, much cheaper than the touristy parts of Italy. Like the Amalfi coast which are in the millions.
Here are a couple I found on the MLS listing:
https://www.idealista.it/en/immobile/23222924/ $429M US
https://www.idealista.it/en/immobile/25447945/ $319M US
These are both in Calabria. The toe of the boot. One is right on the Med. The other is up the hill overlooking the Med. The both have a western exposure.
I bid on a job against a illegal alien. I have to charge more to cover my bills. The illegal gets free food, housing, and health care all of which I have to pay for.
So in the end the illegal undercuts me slightly and comes out ahead of me because of all the free stuff my taxes pay for.
This is destroying the construction industry as a way to make a decent living for the middle class.
But the Dems want everyone to be broke so they can control them and live the great life by stealing from the tax payers.
Yup...and the illegal’s girlfriend or wife gets lots of freebies, too.
Don’t worry — we are disencentivizing work and will reach total lassitude soon.
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