| mai said: While looking through Eurostat statistics on apparently not very busy day, I went through trouble and composed everything into a nice looking charts to visualize smth I knew all along, but it might be interesting for someone else.
Since what we're living through is a result of artificially raised demand that doesn't have substantial basis for a growth in the real sector and therefore creates debt, it's natural to assume that we might have some relevant results if we compare actual spendings on actual goods with the production of a real sector for every sovereigh states we're comparing. Since I'm using Eurostat, these are going to be EU28 countries. Below we have households expenses throughout a year per tonne of oil equivalent that has been spent in the same year in the industry to produce the goods said households have consumed (or not produced and therefore imported). Higher values mean you're outspending the capacity of the nation's real sector, which eventually appear in the balances as debt. Lower values mean you're underspending. Higher values mean that it is most likely you'll have to cut your spendings when the debt crisis resolved, lower values mean you either sustain your current level of expenses or have a chance to rise them (sometimes at cost of lowering exports). (It is assumed that technological level is more or less even troughout all EU28 countries, in other words same toe of industrial energy produces value with the same efficiency) Households consumption expenditure per toe of consumed industrial energy, euros
And here we have said countries divided in four groups: 1) Slovakia, Finland, Bulgaria, Czech Rep., Romania, Estonia and Hungary might not be industrial powerhouses but they do have their spendings aligned with their production. As you can see the countries that are most in trouble with their debts, i.e. so called PIIGGS (bolded), appear here as outspenders. Though the situation might get worse as we don't know what level of spending is a norm, in other words how much euroes do goods produced using single toe of industry energy actually cost.
Sources Datasets: Tables: |
i dont get the reasoning behind this, where is the link between spending and used energie in the industrie? and isnt comparing a small holyday island like malta with an industriel giant like germany a problem too?
