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European De-Industrialization Could Lead to ‘Lost Decade’

The Financial Times and CNN report on America siphoning manufacturing and the EU’s potentially catastrophic decline

Mitchell Peterson
7 min readDec 10, 2022
Photo by Christopher Burns on Unsplash

Honestly, this was all entirely predictable. It didn’t take a genius to see that EU sanctions on Russian energy were going to backfire in an epically horrific way. I always said that it was the equivalent of shooting yourself in both legs and hoping the bullets would go through the floorboards and maybe-possibly-hopefully hurt Vladamir Putin seven floors down. Then not being able to walk and cursing the Kremlin for ‘forcing’ you to self-implode.

Due to high energy prices, the EU economy is teetering on the brink. Meanwhile, the US is in a much more comfortable position, again, a predictable phenomenon. America is selling Europe way more expensive LNG — while they weirdly celebrate the deals like they’re not getting ripped off — and billions and billions worth of weapons are also being sold as NATO countries expand military budgets and re-up stockpiles they had raced to donate to the war effort.

European nations say they cannot take any more refugees, as numbers surpass even the peak years of the early twenty-teens. Meanwhile, America is chilling an ocean away.

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Mitchell Peterson
Mitchell Peterson

Written by Mitchell Peterson

Freelance writer in his tenth year outside the US. Currently in rural Spain writing the Substack bestseller and soon-to-be book, 18 Uncles.

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