avatarAnne Bonfert

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says their financial situation is now ‘<a href="https://www.theguardian.com/world/2022/nov/07/one-in-four-europeans-say-their-financial-position-is-precarious">precarious</a>.’</p><p id="3a88">Citizens who rightfully protest are labeled ‘far right’ or the other all-time favorite ‘Putin Apologists.’</p><p id="f337">All of this unrest is leading to a rise in extremist parties taking power in places like Sweden and Italy, again, a very predictable phenomenon.</p><p id="d72c">Does anybody else see this as madness?</p><p id="53b6"><a href="https://www.ft.com/content/75ed449d-e9fd-41de-96bd-c92d316651da">The Financial Times</a> has recently done a series of reports on the negative economic impacts of the sanctions. Being a finance outlet, they’re usually much more straightforward than the editorializing mayhem that comes out of most mainstream media. They do, however, stop short of offering a solution or criticizing the wisdom of sanctions.</p><p id="23fe">But even mainstream media is starting to paint <a href="https://edition.cnn.com/2022/12/05/economy/uk-economy-lost-decade-cbi/index.html">a dark picture</a> of what could become Europe’s ‘Lost Decade.’</p><blockquote id="07bf"><p><b>“We are risking a massive deindustrialization of the European continent,”</b> <a href="https://www.ft.com/content/75ed449d-e9fd-41de-96bd-c92d316651da">Alexander De Croo</a>, Belgium’s PM</p></blockquote><p id="99e1">When one thinks of Europe, they usually picture historic cities filled with tourists, quaint villages, Mediterranean beaches, and multi-lingual fairly well-dressed smokers, who enjoy functioning healthcare systems and basically free university. But Europe is also an industrial powerhouse.</p><p id="7836">Obviously, Germany is the linchpin, but throughout the continent, industry employs <a href="https://www.ft.com/content/75ed449d-e9fd-41de-96bd-c92d316651da">thirty-five</a> million people, or 15% of the working population in sectors from chemicals to steel to papermaking, EVs, and ceramics.</p><p id="f28b">But the EU built its industrial capacity on the back of cheap energy imports from the East. Without that, they immediately become non-competitive in the global marketplace.</p><p id="9add">The Financial Times <a href="https://www.ft.com/content/75ed449d-e9fd-41de-96bd-c92d316651da">reported</a> that the European Round Table for Industry recently wrote a letter to Ursula von der Leyen, stating, <b><i>“Soaring energy prices are currently precipitating an alarming decline in the competitiveness of Europe’s industrial energy consumers,” </i></b>that without being remedied<i> <b>“the damage will be irreparable.”</b></i></p><p id="5c7c">The article goes on to show how certain industries have already reduced capacity, some are finding ways to cut energy use, and they also highlight how many are looking to shift production to another continent.</p><p id="1c2f">If they leave, they’ll never come back, as happened in 2010. Again, The <a href="https://www.ft.com/content/59a8d135-3477-4d0a-8d12-20c7ef94be07">Financial Times</a> quotes the Honoré of the Oxford Institute for Energy Studies, <b><i>“When European gas prices were at relatively high levels between 2010 and 2014, we saw relocation to regions with lower prices — such as the Middle East, North Africa, and US. Industrial gas demand never went back to pre-financial crisis levels.”</i></b></p><p id="deb4">Europe could be going through another period like that, only much much much worse.</p><p id="d3df">One of the only ways to support manufacturing and keep their products competitive domestically would be to <a href="https://www.spectator.co.uk/article/europe-s-descent-into-deindustrialisation/">put tariffs</a> on foreign imports. It could save some jobs but would deprive Europeans of cheaper foreign goods, reducing their purchasing power and lowering their standard of living.</p><p id="d966">Macron is trying to introduce a Buy European Act, but who knows how much of an impact that would have. They’ve also set up a freaking task force to ‘resolve differences’ with America while the Yanks subsidize industries to relocate. America is profiteering from the war, selling billions in gas and weapons, and stealing European industry, and the most the EU does is set up a <a href="https://moderndiplomacy.eu/2022/10/27/launch-of-the-us-eu-task-force-on-the-inflation-reduction-act/">task force</a>. It’s quite sad.</p><blockquote id="bd76"><p><b>“Britain is in stagflation — with <a href="https://edition.cnn.com/2022/11/16/economy/uk-inflation-october/index.html">rocketing inflation</a>, negative growth, falling productivity and business investment. Firms see potential growth opportunities but a lack of ‘reasons to believe’ in the face of headwinds are causing them to pause investing in 2023… We will see a lost decade of growth if action isn’t taken.” <a href="https://edition.cnn.com/2022/12/05/economy/uk-economy-lost-decade-cbi/index.html"></a></b><a href="https://edition.cnn.com/2022/12/05/economy/uk-economy-lost-decade-cbi/index.html">Confederation of British Industry</a> director-general Tony Danker</p></blockquote><p id="5e7b">The sooner Europe and Europeans realize America

Options

isn’t their friend, the better. As with everything, it’s all business for Uncle Sam.</p><p id="8523">But again, Europe doesn’t have many options.</p><p id="4b3c">They could impose tariffs or spend like maniacs to subsidize energy prices for industry, an option they’re trying but can’t sustain. The one-two punch of COVID and now sanctioning themselves into oblivion has left government budgets sinking ever deeper into the red.</p><p id="a32e">They cannot print money to subsidize and protect their manufacturing capacity forever. European debt is already at <a href="https://www.spectator.co.uk/article/europe-s-descent-into-deindustrialisation/">1920s levels</a> and getting worse.</p><p id="3877">They need cheap energy. And by the time they can build functioning alternative infrastructure, most of the energy-intensive industries will have already left.</p><p id="97d8">And again, they’re not discussing the easiest and most logical solution: rolling back sanctions.</p><p id="d7e9" type="7">The sooner Europe and Europeans realize America isn’t their friend, the better. As with everything, it’s all business for Uncle Sam.</p><p id="7fe0">The moralistic argument for not directly purchasing Russian oil and gas is laughable because they’re buying it through third parties at an extreme markup. Not only that, the sanctions increase global prices, which add more profits to the evil Kremlin coffers.</p><p id="955c">It is a purely symbolic principled stand that is destroying European industry and bankrupting its citizens.</p><p id="114b">One must be reminded that, as bad as the Ukraine war is, it isn’t the worst humanitarian crisis in the world. The worst is occurring in <a href="https://www.unfpa.org/yemen#:~:text=largest%20humanitarian%20crises-,Yemen%3A%20One%20of%20the%20world's%20largest%20humanitarian%20crises,of%20humanitarian%20assistance%20in%202022.">Yemen</a>, perpetrated by Saudi Arabia. Who’s supporting Saudi Arabia by <a href="https://www.bloomberg.com/news/articles/2022-07-22/saudi-arabia-and-iraq-come-to-the-aid-of-europe-s-oil-refiners?leadSource=uverify%20wall">purchasing</a> their products and <a href="https://www.dw.com/en/german-government-approves-arms-exports-to-saudi-arabia-reports/a-63288334">supplying them with weapons</a>? The West.</p><p id="12e5">So all the moral posturing about human rights is completely empty. They’re directly funding and supplying the worst humanitarian crisis on the planet.</p><p id="b4d4">But it doesn’t matter how many caveats I make, the same slander emerges in the comments. Of course, we should be doing everything we can to bring the Ukraine crisis to an end. There needs to be more open dialogue and a look at the effectiveness of sanctions.</p><p id="d2ba">The rest of the world can see the hypocrisy of Europe and the West and are continuing with business as usual.</p><p id="a12f">Actually, they’re going even further.</p><p id="ca47">The BRICs are on the rise. Iran, Turkey, Egypt, Indonesia, and even our Middle East bestie Saudi Arabia are all waiting in line to join. Since the beginning of the war, much of the rest of the world has been strengthening economic and trade ties.</p><p id="baaf">They seem to be decoupling from the West and doing what they can to insulate themselves from the crash when dollar dominance is inevitably broken and the debt bubble bursts.</p><p id="8653">But the gaslighting from EU leadership continues.</p><p id="e8c4">I feel a bit crazy when speaking to Europeans because many are unaware of what’s happening or completely buying the paper-thin justifications.</p><p id="0a6c">And that’s the sad part, or maybe it is the strange part. I’m not sure.</p><p id="9d87">Jobs will be lost. Excess deaths will continue to increase. And the quality of life will probably crater.</p><p id="44be">And it could have been avoided.</p><p id="9e78">There should have been and should now be more open negotiations to try and bring the conflict to a resolution and maintain semi-normal business relations.</p><p id="3811">Instead, they’re rebuilding the Berlin Wall, turning the world into a West versus The Rest game as <a href="https://multipolarista.com/2022/09/21/global-south-west-cold-war-russia/">eighty-seven percent</a> of the planet shifts away from the Washington, London, and Brussels axis.</p><p id="db7e">They’re irreparably damaging European industry and walking into a Lost Decade.</p><p id="d620">And who knows what kind of mayhem will come out the other side.</p><div id="35a1" class="link-block"> <a href="https://mitchellglennfrommichigan.medium.com/subscribe"> <div> <div> <h2>Get an email whenever Mitchell Peterson publishes.</h2> <div><h3>Get an email whenever Mitchell Peterson publishes. By signing up, you will create a Medium account if you don't already…</h3></div> <div><p>mitchellglennfrommichigan.medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*kSncAp0WWkcqUwWL)"></div> </div> </div> </a> </div></article></body>

READING TIPS

Stories You Shouldn’t Miss — Volume VII

September edition of my favorite reads

Morning dew sparkling in the first rays of sunshine in the meadow. | Photo credit: Anne Bonfert

Time is flying, summer is gone and the year almost over. But as someone who's always trying to look at the bright side of things, I have done, seen and experienced so much in just nine months, I can't wait to see what the last three have left for me.

As always, I spend lots of time this month reading your awesome articles and stories and since I don't want to keep them for myself and help you at the same time filter out great writings on this platform, I compiled another reading list for you.

These are my favorite ones from last month.

In September we had a lot of wildlife stories being published and read due to the monthly challenge hosted at Globetrotters. While I did announce my favorites there already, I had another story saved in my list which was published in a different publication.

Jan went on an African safari but despite being speechless on the animals she saw, she learned a lesson or two. About our lives in the Western world and the out-of-proportion excess we live in.

“The natural world is full of wonders. Nothing is more improbable than an ostrich, more remarkable than a giraffe, or more entrancing than watching half-grown lion cubs wake up and wrestle with their siblings.” — Jan M Flynn

And while we’re talking about global differences and the effects of our behavior I can’t get around sharing the next story by Jillian. Reading the title and beginning to dive into the first paragraphs, I was taken by the story but had no idea what I’d walk away from the story.

85% of all textiles go to dumps each year.

Yes, we’re talking about clothes. And no, I still can’t believe this number. Something has to change. We need to change. We need to change our mindset and shopping behavior.

“About one km along the way, we started to see thick, black smoke billowing above the trees. We couldn’t imagine what the heck would be causing that. It certainly wasn’t smoke from a brush fire or a burn pile, it was too black for that.” — Jillian Amatt - Artistic Voyages

Staying on the topic of human behavior and judgments, the next one goes on about how we make others feel. How we judge people by their looks and not their character and history.

Jessica just wants to be accepted by her own kind. Or those who look alike but make her life so difficult.

“Maybe the issue is that everyone has this predisposed idea that all one billion Asians have the same cultural upbringing.” — Jessica Lim

Turning these rather negative and complaining articles into something positive, we arrive at Vincent‘s celebrative post.

He’s just finished his first year living in Japan and while you might think this article is about hiking some random mountain, this essay is about a lot more. It’s about life. Friends. Happiness. Joy. It’s about all those things that make our lives worthwhile.

“I went to work, changed, strapped on my hiking pack and headed for the Shinkansen. I met my friends, we sang happy birthday and boarded; the lightning strikes the thunder roars the rain falls and we’re headed to scale Fuji-san. Cherish this. Every goddam second.” — Vincent Van Patten

I cannot do these highlights without a travel story. Or two. And yes, I might be biased since I’m about to move to the exact country this man is flâneuring around at the moment but his travel essays always capture me.

It’s not just his narrative or the photographs. The travel essays are usually on the longer side. They are informative and descriptive at the same time but also incredibly entertaining. I find myself more them once grinning and now and then even bursting into laughter.

And then again, I miss snow. I think I need to change my future living plans as I can’t be chasing summer for much longer. I wish I was snowed in like Tim.

“The trail rose to a viewpoint of a small glacial lake, Lake Mueller, which was covered by a thin sheet of slate-blue ice. The remnants of glaciers clung to the mountainsides. Every now and then I heard a rumble like thunder — an avalanche. I counted four of them, way up near the glaciers. Further along, a suspension bridge crossed a small river, its jade waters flowing between white-topped black boulders. I felt as if I had entered Narnia during the perpetual winter of the Ice Queen.” — Tim Ward, Mature Flâneur

And because I can, I’m sharing one more story of his. This one got me thinking.

How much longer will we be able to experience these dark skies? How much longer until more cities are built and more tourist resorts will produce too much light pollution for us to see such bright stars at night?

“Millions of children across the world will never see a star, let alone appreciate the Milky Way. We believe that, together, we can change this. The night sky should be accessible to everyone on the planet — tonight, tomorrow and into the future.” — Tim Ward, Mature Flâneur

My last two selected stories come from a category that just recently made it onto the viewing platform of Medium.

Photography.

Used in every single article posted on this platform yet the artists behind the incredible photographs were neglected. But things are changing. Photo essays are now also receiving attention out here.

And that is why I chose this short article from Erika. It’s just one photo with a few words. But that photograph is perfect. For me.

“We suddenly found ourselves in the midst of a group of moms and babies. I looked over to my right, and noticed our shadows draped across this elephant’s side.” — Erika Burkhalter

The next article goes a bit more in-depth on the topic of photography. With tips and tricks on how to take a great picture of morning dew, this writer got me to take the title image of this post.

I stumbled upon Davíð Matthías when he left constructive feedback on one of my photo essays. He didn’t just compliment my work but analyzed my photographs in a way nobody else had done before.

When I clicked on his profile I found all his incredible work alongside countless photography tips. But I’m sharing this story because I’m in awe of his pictures of morning dew and those of frost on the meadow.

“It’s glistening in the early morning light and inviting you get out into the garden with your camera. I don’t know about you, but it’s an invitation I can’t ignore.” — Davíð Matthías

I know, these were more stories than usual and some longer ones in between but I promise you, all of them are worth a read. Thank you for reading through this list and as always, I appreciate hearing your feedback.

And in case you missed last month’s selection, here is the link:

Join my email list here if you would like to read more travel essays.

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