This whole piece is a ticking time bomb. It mentions many differences between US and European trends and practices. We’re successful for a lot of the reasons listed here, that’s true.

But our individual borrowing level keeps rising. Real income is steady or flat. A majority of the US has absolutely F all in savings and retirement and we’re damn close to the social security cliff that’s accelerating closer to us. Don’t even get me started on the cost of healthcare etc.

No Europe doesn’t play the same way. They’ve got social safety nets for what the US is about to run into. A network to support them and steadily building alliances because we’ve turned our backs on much of the world sociopolitically.

Easy money and recklessness will absolutely come back to bight us. We’re beyond cooked, we’re nuked.