alt Hacker NewsThe US alone spends 1.5x as much on consumer goods (yes, adjusted for PPP) and nearly 2x as much on R&D as the entire EU. It’s very sweet that the EU is trying to decouple itself from the US economy, but I highly doubt its ability to become “leader of the free trade world” when it has so little money to throw around.
Replies
ejpir • today at 2:52 PM
Yeah, we'll just up our EU debt to about 40 trillion USD, make up some money and continue. Sounds a lot like US right? Living in perpetual debt as a nation.
> The US alone spends 1.5x as much on consumer goods (yes, adjusted for PPP) and nearly 2x as much on R&D as the entire EU.
Given that by PPP the EU and the US are about the same, that necessarily means the EU spends more on other things.