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Started By
Message
re: And boom...Euro go bye-bye (Gazprom news)
Posted on 7/20/22 at 10:41 pm to Drizzt
Posted on 7/20/22 at 10:41 pm to Drizzt
Without cheap natural resources from Russia, they will be permanently poorer.
Life is already quite hard for normal people in Europe.
It’s going to get much worse.
Life is already quite hard for normal people in Europe.
It’s going to get much worse.
This post was edited on 7/20/22 at 10:41 pm
1
Posted on 7/20/22 at 11:09 pm to MadtownTiger
My vacation home in Cap de Antibes is going to lose some value
Posted on 7/21/22 at 1:36 am to Lima Whiskey
quote:
Life is already quite hard for normal people in Europe.
Maybe I am not a normal person, but after living in Europe for a while, I find the life here quite comfortable. And.... Gas flow resumes from NS1
But the flow rate is reduced, and I think Russia will keep it that way to maintain an environment of pressure and uncertainty on Europe, giving Putin maximum leverage. If he shuts it totally down, he loses his largest weapon.
Posted on 7/21/22 at 2:10 am to Spirit of Dunson
quote:
Maybe I am not a normal person, but after living in Europe for a while, I find the life here quite comfortable
Life for ordinary people was quite good as recently as the 1960s, but the situation has declined since then. Industry collapsed and government policy hollowed out the countryside. Jobs are scarce, pay is bad now, taxes are high, and with the Euro, the cost of living has climbed precipitously.
Cheaper consumer goods masks some of the problem. Cell phones are cheaper now. Televisions are cheaper. But core goods, food, are much more expensive. Restaurants are especially expensive.
People don’t eat out the way they used to. It used to be a staple of life. One of the small joys in life.
The cost cutting shows up in small ways. AC as an option on cars. Prepaid vacations, the French invented those because holidays were too risky for people who had to calculate their expenses to the dollar.
I was talking with my family earlier this week. They expect the next 12 months to be very bad.
This post was edited on 7/21/22 at 2:16 am
Posted on 7/21/22 at 3:49 am to Lima Whiskey
Interesting perspective. I don't have that longer term view since I've only been out of the US for about a decade. And maybe it is region specific, but I've lived in the rural countryside and in mid-sized cities, but only in Germany. Here, jobs are plentiful (but you are right that wages are relatively stagnant), food is affordable, and restaurants are full.
On the other hand, fuel and energy costs are very high and it is harder to find an affordable home to buy, so more are renting. All considered, I wouldn't call life here "difficult" like in the East of years past.
I would agree with your family about upcoming year. The weak Euro, inflation, high energy costs, etc. are causing a lot of fear, but I don't see this as so much different from other parts of the world... The main differentiator is the uncertainty in natural gas supply.
It will be an interesting time.
On the other hand, fuel and energy costs are very high and it is harder to find an affordable home to buy, so more are renting. All considered, I wouldn't call life here "difficult" like in the East of years past.
I would agree with your family about upcoming year. The weak Euro, inflation, high energy costs, etc. are causing a lot of fear, but I don't see this as so much different from other parts of the world... The main differentiator is the uncertainty in natural gas supply.
It will be an interesting time.
Posted on 7/21/22 at 8:31 am to Spirit of Dunson
quote:
It will be an interesting time.
Old Chinese curse…
quote:
The weak Euro, inflation, high energy costs, etc. are causing a lot of fear, but I don't see this as so much different from other parts of the world...
The difference between the EU and these other locations is that the European elite CHOSE to put themselves in this bind. They had the fossil fuel/nuclear capabilities within their own countries and spheres of influence. Many don’t have that option.
If the pain gets bad enough the people won’t continue to take it. Some savvy political upstarts will promise to either heavily tax the rich, start new energy projects, or both.
Posted on 7/21/22 at 12:17 pm to Spirit of Dunson
quote:
And.... Gas flow resumes from NS1
But the flow rate is reduced, and I think Russia will keep it that way to maintain an environment of pressure and uncertainty on Europe, giving Putin maximum leverage. If he shuts it totally down, he loses his largest weapon.
Exactly, when I posted this thread I honestly didn't think it would restart on time, if at all. But I read more pieces online and came to conclusion most of them had, including yourself, that Putin puts them in a bind but loses all leverage. I now see him dropping it to 20% ,like Putin himself mentioned in Iran, on the 26th when another compressor goes offline for maintenance to Canadistan, unless the former turbine shows up and is put to work.
This post was edited on 7/21/22 at 12:18 pm
Posted on 7/21/22 at 12:22 pm to Lima Whiskey
quote:
Life for ordinary people was quite good as recently as the 1960s, but the situation has declined since then.
Eh, you are just analysing small portions of time and acting like their lives have been that way forever.
Should we not include 1935-1950 or 1912 to 1920? I mean their lives were not exactly wonderful for most of that time between the pre war, war, and post war rebuilds. Before 1910? I mean the industrial revolution has changed a ton since the late 1800s.
Its really not fair to compare European life to USA and Canada, we have so much land compared to the population and no real cultural or historical restrictions like the french and italian work schedule.
Point being, their lives are still pretty damn good compared to most of the world. It may not be their best time, but its far from their worst or even terrible right now.
Posted on 7/21/22 at 12:49 pm to Spirit of Dunson
You finally got yourself out of Hong Kong? I was thinking about you the other day and wondering if you had.
In related news, just saw a Bloomberg story that American interest in European real estate is up big over last year, so there ya go. Just great, I now have competition for my lake house.
In related news, just saw a Bloomberg story that American interest in European real estate is up big over last year, so there ya go. Just great, I now have competition for my lake house.
This post was edited on 7/21/22 at 12:53 pm
Posted on 7/21/22 at 4:25 pm to Teddy Ruxpin
Yep. I'm back in Europe. Family is happy about it, since they missed living here. Let me know if you get this way!
Funny you mention real estate. My lovely bride has gotten serious about buying property in Al Sace, so we may be here for quite some time now.
Funny you mention real estate. My lovely bride has gotten serious about buying property in Al Sace, so we may be here for quite some time now.
Posted on 7/21/22 at 6:52 pm to Spirit of Dunson
Sounds awesome. Not the worst idea she's had. A place I'd like to visit for sure.
Preference toward Colmar, Strasbourg, other?
Preference toward Colmar, Strasbourg, other?
This post was edited on 7/21/22 at 6:55 pm
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