- The Euro Area governments keep trying to gouge as much money as possible from the households.
- Consequently, the money taken from the households is missing in private consumption and investments.
- Manufacturing in the Euro Area has fallen by more than 10 per cent since the peak in January 2008; hence the lethargic tax revenue history since then (the blue line).
- Austerity in the sense of increasing tax rates does not work: you cannot have high taxes and a robust economic growth at one time.
What can you see?
A white male with some professional experience in finance and investing.