Since the Russian invasion of Ukraine, the economic and financial community has been bearish on the European economy. They’ve been pointing out all the flaws it has, the disastrous policymaking, and how the US has been stealing all the factories from Europe. While there is truth in the issues that are pointed out, Europe has been able to grow despite everything. Europeans are living better lives today than they were back in 2006.

All media commentary on Europe stagnating economically compared to the US has all been based on GDP numbers indexed in USD. As you can see in the image below, when comparing the US and European GDP per capita, you’ll find that the US has continued to grow despite the 2008 financial crisis while the European economies haven’t recovered from the same crisis. That’s because the numbers are based on dollars, which have appreciated considerably when compared to the Euro.

Learn more about the European economic miracle here: https://dissectingthemarkets.substack.com/p/europe-is-an-economic-miracle