While Brussels bureaucrats continue their paper-pushing parade, Europe's tech sector is getting absolutely demolished by freer markets across the Atlantic. Former ECB head honcho Mario Draghi (yes, the money printer himself) finally admitted what Bitcoin bros and tech entrepreneurs have been screaming for years: the EU's regulatory stranglehold and infantile destruction of free markets is killing innovation (don't worry, of course the commie didn't say that!)
Speaking to a room full of EU central planners, Draghi basically confirmed that their beloved regulatory framework is about as useful as a chocolate teapot when it comes to fostering actual technological progress. The productivity gap between the US and EU isn't just a gap anymore - it's turning into a canyon, and it's getting wider by the day.
Here's the real kicker: while US companies can pivot and innovate at the speed of market demand, European firms are still waiting for regulatory permission to tie their own shoelaces. The EU's response? More committees, more regulations, and more "unified approaches" - because that's worked so well so far, right?
The irony of having a former central banker warn about competitiveness issues would be hilarious if it wasn't so tragic. Here's a wild idea: maybe, just maybe, less central planning and more economic freedom could do what decades of EU directives couldn't?
But hey, at least they're unified in their commitment to staying behind. 🤷‍♂️
while US companies can pivot and innovate at the speed of market demand
The crazy thing is that our markets aren't all that free either and innovation is highly suppressed. Think how wealthy we could all be if not for this overgrown economic parasite.
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That's the point. You just need to be marginally better than the competition to attrack capital.
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The only thing saving the EU right now is sitting on a big pile of gold, leftover from its multi-century looting of every continent. Economy-wise it's been dead for a very long time and see no sign of u-turn
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I hear so many stories in the US of insanely burdensome regulations, that it's hard to conceive of it being worse in the EU. But I guess it is.
Do you have any gems for us, insane regulations that throw sand in the works?
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In Germany the parasites are forceing homeowners to change their heating systems into sth that's called 'warmth pump' or similar I guess. It costs thousands and forces people into more credit
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47 sats \ 1 reply \ @co574 10 Nov
“staying behind” makes them finish first… #im14andthisisdeep 💫
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Yep
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