Underpinning the contracting EU economy are two major forces. First, the instability of their financial markets, thanks in majority to their catastrophic Build Back Better energy agenda. Secondly, China exploiting the economic vulnerability and dumping massive amounts of cheap goods onto their consumer market. Both forces are working against the EU economy.
To backstop the collapse, the EU is counting on expanded militaristic spending to get them out of their dead-end path. Again, in majority, the economics of the thing is why they want expanded war with Russia – regardless of the detrimental outcome. Without war they have to give up their Build Back Better green energy program.
In this interview, EU Central Bank President Christine Lagarde obfuscates both issues and points a finger at President Trump’s geopolitical economic and trade reset. The only thing she accurately presents is the scale of the issue, the “trillions at stake” part. WATCH (Transcript Below):
[Transcript] – MARGARET BRENNAN: We’re joined now by the President of the European Central Bank, Christine Lagarde. The ECB sets interest rates for many countries in the European Union, which is America’s largest trading partner. Good to have you here.
CHRISTINE LAGARDE: Lovely to be back, Margaret.
MARGARET BRENNAN: From where you sit, how would you describe the state of the global economy?
CHRISTINE LAGARDE: In transformation.
MARGARET BRENNAN: Transformation.
CHRISTINE LAGARDE: Transformation, I think caused by a couple of things. One is the tariffs, which have changed the map of trade around the world and reconstituted new alliances and reformed the way in which we trade with each other. I think the second major transformation is the impact of artificial intelligence on everything we do from data management to dating and everything in between.
