Spain chases France and Italy in the economic fall race

The news about blackout in Spain is in full harmony with the overall decline of Spanish economy. The growth rate of real GDP per capita has been steadily falling since 1960. This case is absolutely similar to the situation in France - disaster. The third country to join this wonderful couple is Italy. I wonder if the 2030s will be the permanent recession time in these three countries. The attempt to invite people from abroad has failed and the domestic population definitely leads in the depopulation race worldwide. Two figures below repeat the same in the previous posts on the USA, UK, and France.

Figure 1. the fall in the GDP per capita growth rate in Spain 

Figure 2. Same as in figure 1 for Italy. Decline and fall. 

Blackout in Spain - the balancing power was not enough.

It is clear to a physicist that we observed in Spain is a simple consequence of the green electric power usage. It cannot be regulated as such - it is straigt as a ramrod. large-scale changes in energy consumption have to be compensated by balancing power stations which need time to get to the required power level. The gap between the need and reality in Spain was just to large and the electric system reacted by design - full stop. Very good - otherwise it would be damaged. Engineers are wise by a factor of five. 

Satan saved Trump's body for a purpose - WWIII

 It's well-know that Satan controls human's body full on sins (in terms of religion). Satan forced Trump's head to avoid the bullet. (The God saves the soul.) All the moves after the diabolic salvage were aimed at the WWIII. Trump is in trap - the only way is to escalate. The next move makes Russia to respond more agressively and the only power posponing the war start is who will be responsible for the consequences in the eye of the world's leftovers (if any). The US prepared the war, started the war, escalated the war and made it to the ultimate end - . Russia avoided this end so far, but the end is the Satan's troffy.

France's economic growth rate has been falling at a catastrophic rate for the past 65 years

 The last two posts discussed the rapid decline in the US growth rate since 1960 and the very rapid decline in the UK growth rate over the same period. In the US, the growth rate fell from 2.5% per year in 1960 to 1.2% in 2022. In the UK, the decline was from 2.8% to 0.8% over the same period. But the UK economy is still growing much better than France. Figure 1 shows a graph of annual real GDP per capita growth from 1960 to 2022. The regression line shows a constant decline in average annual growth, while the US has been growing weakly and the UK has been declining very weakly. Figure 2 shows the full horror of the current situation in France. The GDP growth rate fell from 4% per year in 1960 to 0(!)% in the 2020s. This is a catastrophic decline that threatens France with a very bleak future. France is formally entering an era of permanent recession. A trifle, but...

Figure 1.

Figure 2.

The UK economy's growth rate has been falling very rapidly for the last 65 years

The previous post looked at the rapid decline in the rate of growth of GDP per capita in the US over the past 65 years. A decline from 2.5% growth per year to 1.2% over 60 years is not slow. In GB, things are much worse. A decline from 2.8% annual growth to 0.8% is almost a disaster. Figure 1 shows the annual growth of GDP per capita, and Figure 2 shows the annual growth rate as a ratio of the annual change to the current level of GDP. GDP per capita has grown from $13,780 in 1960 to $38,407 in 2022. Not very good compared to the US. And there is nothing to add, except that things are still much worse in France. A pleasant consolation.

Figure 1.

Figure 2.

The US economic growth rate has been falling rapidly for the past 65 years

Economists love to talk about the exponential growth of the economy and provide graphs of real GDP per capita over the past 150 years. In economics, it is common to measure GDP by purchasing power parity (PPP), which allows you to compare countries. Nominal GDP, converted at the exchange rate, changes very quickly. For example, the euro was less than $1 at the beginning, then $1.60, and now about $1.10. If you convert the French economy into dollars at the exchange rate, then the GDP experienced colossal changes of tens of percent, going through the deepest recessions. Therefore, PPP is the standard of comparison.

For the United States, real GDP is measured in real dollars, and economic growth is best measured in GDP per capita, since in the second half of the 20th century, the US population grew by about 2% per year, and after 2000, the growth rate fell to 1-1.5%. Real GDP growth also slowed down. But the growth rate of GDP per capita did not fall that much. However, since 1960, there has been a decline in the growth rate of GDP per capita, since the annual growth is almost constant. Figure 1 shows a graph of annual growth of GDP per capita compared to the previous year. As you can see, the linear regression shows approximate constancy of annual increment in $. Figure 2 shows the growth rate calculated as the ratio of annual growth to the level of GDP per capita. Since GDP growth (Maddison database) is positive over the past 62 years - from $18,705 in 1960 to $58,487 in 2022, the growth rate decreases from 2.5% per year in the 1960s to 1.2% per year in the 2020s. That is, the growth rate has fallen more than twice in 62 years. This is associated with the main economic problems of the US population. It seems that the growth rate should be high and all the problems of the future will be resolved, but growth slows down. The problems are not solved. Young people can't buy real estate, etc.

The decline in the growth rate of real GDP per capita is an economic law! I have written about it a lot in this blog since 2003. This is what is happening in reality.

In the following posts I will give terrible examples of decline in other "developed" countries: UK, France, Spain ...

Fig. 1. Annual growth of GDP per capita in the USA 1960-2023

Fig. 2. Annual growth rate of GDP per capita in the USA 1960-2023.

Скорость роста экономики Франции катастрофически быстро падает в последние 65 лет

В двух последних постах обсуждался быстрый спад скорости роста экономики США с 1960 г. и очень быстрый спад скорости роста экономики Великобритании за тот же период. В США скорость роста упала с 2.5% в год в 1960 до 1.2% в 2022. В GB спад с 2.8% до 0.8% за тот же период. Но экономика GB растет все же гораздо лучше чем экономика Франции. На рис. 1 приведен график ежегодного роста реального ВВП на душу населения с 1960 по 2022 г. Линия регрессии показывает постоянный спад среднего ежегодного роста, в то время как в США наблюдается слабый рост, а в GB очень слабый спад. На рис. 2 можно наблюдать весь ужас текущей ситуации во Франции. Скорость роста ВВП упала с 4% в год в 1960 до 0(!)% в 2020-х. Это катастрофический спад, который грозит Франции очень мрачным будущим. 

Формально, Франция вступает в эпоху постоянной рецессии. Пустячок, а ...

Рис. 1.

рис. 2.