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Euro-sclerosis Is Back

At least one of Biden’s claims on the economy IS true. The U.S. does have the world’s strongest economy today. Or maybe we should rephrase that and say we have the least bad economy. In the land of the blind, the one-eyed man is king.

The U.S. economy is growing at slightly above two percent, which is mediocre, but we look like a gazelle compared to three of our major international competitors – Britain, Japan, and Germany. All three of these countries have slipped into mild recession territory. Britain is skating perilously close to recession at the end of 2023, with effectively zero growth for the last six months.

This table from analyst Richard Salsman, who published the Capitalist Advisor, shows the miserable performance of late.

Euro-sclerosis appears to be back in full force. Why? We think one factor is the looney over-investment in green energy. It’s crippling Germany’s economy – once the pillar of industrial and engineering might. It turns out you can’t be much of an industrial power if you try to build cars, steel, and buildings with wind power.

Our advice to Congress: don’t chase the losers. Green energy is one of the greatest economic flops of modern times. It’s almost as bad as socialism.

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