The Future of Europe

Proof that the United Kingdom returned to the European fold is dead. Two weeks ago the IEA published its 2023 European industrial survey, among all the data, Germany's industrial electricity consumption dropped 13%, between 2022 and 2023.

A 13% drop in consumption should be catastrophic for unemployment, energy consumption is directly related to production -- hence jobs. Yet things are quiet. This tells you two things, German industrial production is dropping fast, and available labour is collapsing, because if there are fewer jobs there should be more unemployment.

Guess what, there is no discussion about all this in the German financial press! The implication of a massive reduction in industrial output, has consequences for almost all European countries. In the next 24 to 36 months this will become apparent.

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