pull down to refresh
0 sats \ 6 replies \ @memeverse 6 Oct \ on: is the state of malaise a world-wide thing? econ
It's true that the world economy is not doing so well, especially in the West.
With fiat currencies, there are always cycles of inflation, rising public debts, and policies that don't help, so house prices fly and wages stand still.
As for growing countries, I can think of a few in Asia like Vietnam and India are growing a lot: they have become important centres for technology and manufacturing, with young people pushing the economy.
Unfortunately there are still wars in the world today, we are not evolving in this respect.
However I think like you, fiat currencies certainly have something to do with these problems. That is why Bitcoin will be the long term way out of this global scenario.
Bitcoin can'tt be manipulated by governments or central banks, it's a decentralised and transparent network and offers a more stable form of store of value.
It takes time but everyone will figure it out sooner or later..
i think from a western perspective, it's the gradual fall from being top dog to having a suckier, more expensive life, the knowledge that like grandads boomer generation was peak wealth.
i have to say tho, I'm in Bulgaria and it's getting better and better here in many respects, i would absolutely not live in the declining UK now.
reply
Interesting. What's it like living in Bulgaria...say from the perspective of employment? Are companies putting in offices in Bulgaria, to save on labor?
How about food costs?
reply
ok so my take is a little different as i am from the Uk and obvs not a local. also I'm almost 40 which means I'm probably fairly out of touch with a 20-something reality.
i can make a few statements though.
to start with jobs, i think the job situation is probably fairly shit unless you can start your own business or get a decent job in the capital.
i make money online and have done for over a decade basically and i don't make a ton, maybe 1200-1300 pounds, sometimes more, sometimes less (I've had times where i have lost a client and half my income for a few months).
for me, working a 9-6 is not going to happen as i value the freedom i have more than the money.
there are a lot of EU companies that open offices in Bulgaria to save costs yes, Bulgaria is quite strong at IT so that is a popular choice in the capital. also, international call centers are a thing in Sofia so people that have language combos like Bulgairan + dutch or french etc can get jobs doing that.
taxes are low (10%) but rent has gone up quite a bit since the ukraine war and end of covid, i think this is a global thing tho
food costs actually arent that cheap, unless it's cigs and booze, which are very cheap lol
eating out is very affordable though. if you live in a village, you can buy eggs from neighbours, natural honey and there's usually other things like raw milk and stuff sold by local farmers and whatnot.
if you can make, say, 2000 euros per month, outside of the capital, you can have a very high standard of living, as long as you're not into drugs and hookers
reply
We can say that if our generation faces all these problems today, the boomer grandparents' generation was partly to blame.
We are left with a huge public debt, skyrocketing living costs and wages that do not match the times we live in.
Clearly I'm generalising, but European countries are going through this phase, my country, Italy, too.
reply
i would say maybe the boomer politicians are to blame. the average boomer was just born, got a job for life, and had purchasing power but they didn't have any control over it.
got a summer job, paid for all their college and then had money to start a family early 20s. they just went along with the blueprint.
but the boomer politicians that decided to come off the gold standard and move to a fiat world are really the ones who made the system of destruction possible
reply
I fully agree with you. A political class that doesn't want to give up its chair, its power. To the citizens the crumbs.. and the taxes to pay.
reply