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Street Level Economics |
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Geographic Area: Netherlands Reporter: Owen Hello, this is an American expat currently hiding from the harsh delusions of America in the Netherlands. According to the Dutch government, they officially went into recession a few weeks ago. At least they're honest enough to admit it when there's a problem. The local shopkeepers seem to be doing OK - I don't see many retail rental shop spaces downtown that aren't occupied. The downtown restaurants seem to have a healthy number of people occupying tables, and the bookstores are mobbed with people on the weekends. I have seen a lot more "uitverkoop" (clearance sale) and "-50% korting" (half off) signs on the retail shops, but seeing as how stingy Dutch people are with their money, this could be just a periodic routine ploy to get Dutchies to part with more of it. I can't say the same for commercial office space. I can't tell you how many "te huur" (for rent) signs I've seen up on office buildings, as I ride the trains around. There are so many, I stopped counting. Not sure if this is normal for Holland or not, but I have a sneaking suspicion it isn't good. I watched a news report about some of the local prostitutes complaining that business wasn't good - demand has been slacking off. I can't say much substantive about the rest of Europe. France is content to live in agrarian socialism (ie. stagnation), and likely to remain that way for the foreseeable decades. Somewhat more industrious Germany is sliding into recession, and I know some Dutch companies that do business with Germany are having real difficulties selling stuff to them. On the whole the Dutch seem to be less fearful and worried about their jobs than people I know in America. You might even go so far as to say they are happy. Whether this is just an anomaly that will be "corrected", or something else remains to be seen. |
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