It’s been a really bad year for VW. What’s ahead for the US?
Downwards with No Speed Limit
Eurointelligence has an interesting article on the state of Germany’s auto industry. The warning applies to the US as well.
Please consider Downwards with No Speed Limit
The German car industry had a really bad year. The chip shortage problem is the latest crisis, and the industry is absolutely dependent on this issue being resolved. At least, there is now a mechanism in place that could resolve the issue as we write in our lead story.
But the bigger long-term problem are not related to this. VW downgraded its forecasts three times this year. We have seen problems popping in all areas of the Germany car industry – at Mercedes and Porsche in particular. BMW is the best of the bunch.
The Nexperia chip shortages give the industry an excuse for finger-pointing, but this does not deflect from the underlying trend – that they are all struggling with electro-mobility. They were late in the game – and massively underestimated the transition. The watering-down of the 2035 deadline for the fuel-driven car will provide some relief, but no solution. This would be like producing typewriters in the 21st century.
We hear a lot of comments lately that it is regulation that killed the car industry. We disagree. It is mostly poor decisions by companies. In Europe, the car industry has been a virtual co-regulator. The industry supported the 2035 target. The long-term success of the German car industry depended critically on its ability to set regulatory standards for the entire industry, globally through the EU. This is also what gave the EU the confidence to do the same in the area of tech regulation. They found, very much to their surprise, that this success did not translate to new sectors, and especially not to sectors where the EU is not a leading producer. The big problem for the German car industry is that they cannot set the standards for the next generation of cars. They are in the business of trying to catch up. They are in the process of losing their regulatory monopoly.
There is already pressure coming from the US to accept mutual recognition of standards for vehicles. Ursula von der Leyen agreed to this in her trade deal with Trump. We will see similar issues coming up in the EU’s trade relations with China.
We still see some hope for the Germans in the luxury end of the market. But a mid-range self-driving car is ultimately more luxurious than a high-end German limousine, unless you have a chauffeur. The business model of the German car industry is that it innovates at the top end of the range, letting the technological benefits trickle down the ranges over time, eventually reaching the smallest cars. This is not how it works in China.
The car industry will not die. But we are struggling to see a healthy ecosystem for mass-market cars in the future.
Germany’s Lack of Innovation
Volkswagen lags in more ways than one. For decades it do little innovation on anything but diesel.
Then when diesel could make no more advances, VW rigged diesel tests to show emissions were lower.
US Innovation
Elon Musk’s Tesla was a master class in innovation, for a while. But Musk has been very distracted by other things like robots and Mars.
The Cybertruck was a huge flop.
Tesla makes a lot of money on tax credits which it should not receive at all. But Trump finally ended most of them.
Now, Trump is doing everything he can to roll back the clock to preserve big gas-guzzling trucks.
Don’t get me wrong. I am no big fan of electric, for me. It just is not Mish ready, and I am not ready for it. I do go offroad, and I have to worry about gas. But I don’t have to worry about finding a charger.
And I understand the issues with metals availability and allegedly clean energy that really isn’t.
But like it or not, EVs have fewer moving parts, can be built faster, and require less maintenance. For those who do nearly all their driving in cities, EVs would work, if the cost comes down.
Small EVs should be inexpensive but they aren’t. Trump has walled off the US with tariffs.
GM and Ford union costs are massive. Both Ford and GM lost huge amounts of money on EVs.
First, Biden tried to force then issue. Now, Trump wants to roll back time.
Neither approach will work. The result is the high-priced cars and no incentive to innovate with unions fighting innovation every step of the way.
BYD Overtakes Tesla in Europe for the First Time, Sales Jump 169 Percent
On May 24, 2025, I noted BYD Overtakes Tesla in Europe for the First Time, Sales Jump 169 Percent
BYD sold 7,231 battery electric vehicles in April versus 7,165 by Tesla, according to data from Jato Dynamics.
Trump’s Tariffs
Trump’s high tariffs and regulation restrictions are so high there is no US BYD market.
Tariffs protect the weak and the inefficient.
Also America has a love affair with big cars.
Is that a Boomer thing?
I suspect but cannot prove Zoomers would love a $15,000 middle of the road BYD but Trump says no.
I love my Toyota 4-Runner and would not consider an EV. But for tens of millions of city drivers who seldom escape the city, a cheap BYD with safer battery technology would be the ticket.
Ford CEO: China’s EV Costs, Tech, and Quality “Far Superior” to the West
On June 30, 2025 Ford’s CEO said China’s EV Costs, Tech, and Quality “Far Superior” to the West
“Drivers get in the car and their phone pairs automatically, and an AI companion equivalent to ChatGPT handles everything from navigation to entertainment. The vehicles also have facial recognition that knows which seat someone is in and adjusts media preferences.“
The Western manufacturers do not have that at any price.
In China, BYD offers a range of electric vehicles (EVs) at various price points, with some models starting under $10,000. For example, the BYD Seagull EV has a starting price of 69,800 yuan (approximately $9,555) and can be found with discounts down to 55,800 yuan (about $7,780). The company also offers more premium models like the Han EV, which starts at around $32,800.
Five months ago Elon Musk said I don’t follow BYD or think about competitors, I focus on making perfect products.
That’s more than a bit foolish and arrogant both. The irony is Musk has promised Full Self Driving for decades without coming close to perfection.
I doubt it Tesla FSD will ever work as good as Waymo unless Musk relents and adds Lidar. For discussion, please see Waymo Surges to 10 Million Paid Rides, Tesla Has Zero
Hello Elon Musk, you are now 10 million rides behind Waymo.
Without Lidar, Musk can build a car cheaper but not safer than Waymo. Meanwhile the cost of Lidar is coming down.
Musk’s FSD will not work as well as Waymo in adverse conditions. It’s ridiculous to believe otherwise.
BYD Reveal Cheap Kei Car – The Brands Cheapest EV EVER
Two days ago the Electric Viking reported “BYD has unveiled its most affordable electric vehicle yet — a compact Kei car designed for urban driving and priced to undercut all previous models. This tiny EV marks BYD’s bold entry into the ultra-low-cost segment, targeting Japan and other city-focused markets.”
BYDs would sell in the US too were it not for 100 percent tariffs.
Pay More – Get Less
That is Trump’s unofficial motto as well as the UAW and Teamsters.
These BYD models would be hot seller in the US at $15,000 or even $20,000.
Trump finds it easy to get the economically clueless on his side with chants of “They are stealing out jobs; they are ripping us off; and it’s unfair trade”.
Trump never asks, would you like a $15,000 EV Toyota.
Finally, Musk seems to have lost his desire to compete on either price or technology. He is more interested in robots and trips to mars and the fool’s mission of perfecting FSD without Lidar.
Would You Pay $15,000 for this Nice-Looking EV Toyota?
On May 4, 2025, I asked Would You Pay $15,000 for this Nice-Looking EV Toyota? Zoomers?
I am sure many would say yes, but there’s a catch.
But the Toyota bZ3X is real, and it is actually on sale starting at that price. There is a catch: To buy one, you have to be in China.
Now there is a second very inexpensive BYD model. It will have safety features suitable for Japan. You will not have to be in China to buy it.
Hello GM and Ford, I have a question. How do you ever expect to compete on price? And if you can’t, who will buy your cars outside the US?
Trump’s only answer is more tariffs to force those in the US to buy overpriced cars. Ronald Reagan knew best.
For discussion, please see Are Trump’s Hurt Feelings Over Tariffs Now a National Emergency?
Like all such topics the 5% are outspoken and the 95% are silent. Here the 5% are those who are excited by combustion engines and their cars. The 95% just want to get from A to B in comfort, reliably and cheaply. If cheap Chinese EVs were available to US consumers I would expect that they would sell very well.
I’m in Australia. We have vast distances between fuel stops, we have no hesitation driving long distances. Because we damn well have to. We have 10% EV & PHEV adoption. Chinese brands are making massive inroads because they are cheap and functional.
I recently bought a 4WD PHEV. Best of both worlds in terms of efficiency and practicality. Possibly the worst of both world in terms on maintenance (TBD). I do too much remote and offroad driving for an EV to be practical.
As somebody who respects quality cars, I have disliked the influx of cheap Chinese brands here, especially the Chinese MG. However other brands such as BYD don’t seem to be ‘cheap’ Chinese, they seem to be quality cars. Time will tell of course.
How do we explain this with GM car sales? https://www.facebook.com/share/v/1BMvRYP1Pe/?mibextid=wwXIfr
Ironic that 2 years ago people lamented that EVs would fail due to electrical infrastructure limitations. The current AI data center craze is showing this was not a real concern – billions in electrical infrastructure is being planned to overcome current limitations. Where there is a will, there is a way – people just like to throw up barriers to change.
Germany’s lack of Innovation, has now become a definite problem. Your Points are spot on, and cheating for better numbers is no way to run any Company, along with paying no attention to the People’s automobiles, which keep the lights on, if nothing else…
Elon Musk’s Tesla was an innovation for sure, but “Copy Cats” are galore now in this World. You cannot sit idle, or you will get run over, no pun intended. The Cyber Truck was Elon’s “Jumping The Shark” moment, which to me was quite surprising. I thought He was smarter than that. Perhaps while too busy, he let some others make some calls. That would explain his draw back period, to review wtf was going on at home? Now He has a behind the field auto, and His Truck idea has already been enhanced and went beyond Elons pitch, one could say.
Tesla didn’t make any money on tax credits, but rather allowed him to advance his dream, at a lowered cost.now he is back to square one against his competitors. Trump is now doing the same, as He regroups from the whole EV Truck idea, and wishes to stay status quo. That won’t work, as others will blow by Him and Elon with better designs, better cost, and way better manpower, to advance this (Elon’s Ideas?) agenda and revolutionary design awaiting the World! Too bad…
Some excellent points you make in regards to “EVs have fewer moving parts”, “can be built faster”, and “require less maintenance” These are all cost savings built into the design of the product, AND built into the cost of ownership. Unlike GV’s which is not the case at all. However, those residual parts kept profit flow coming in, as cost of products went up. EV’s other than Batteries eventually, really have many cost making items flowing regularly to be replaced, and workers can’t expect nearly the wages they are making now can they, with a plug and play model Vs. Sophisticated but costly models produced now in America for the most part. GM and Ford union costs are massive I agree, like most Union Cost. Ford and GM must NOW recoup their lost money on EVs before they can even enter the fray for what’s coming. Hell, do what others do and wait. Then copy there designs with some minor upgrades based on what you will then know perhaps? Not competitive now or in the short term for sure…
More layoffs are coming for financial reasons now, and even more due to unneeded workers in the ultimate new designs on their way!!! Progress does come at a human cost at times, and this will certainly be one of them IMHO.
I don’t want ANY car that someone can hack into or requires a phone to operate.
Ford Territory hybrid is selling profitably to 7.9 billion people across the globe. In cold weather, blackouts and hurricanes ev is crap. In ICE u can jumpstart your battery, U can add a jerrycan to fill the gas tank, but u can’t recharge an ev battery in a traffic jam. If Xi invades Taiwan u don’t want to buy a BYD.
I’m a huge car guy and love the idea of EV’s. The acceleration is breathtaking and they are sneaky quiet. Handling is not so great given the weight. I do not own one. I know that they are the future but am waiting for the first wave of iterations to cycle through and charging station penetration to adopt.
The real clincher for me will be the introduction of anodeless, ceramic, solid state batteries. They are starting limited production now and quite frankly I have made a small fortune in investing in one of the companies. Scaling up and adequate charging capacity are the limitations until 2030 IMO.
>
Most farmers love the US. U don’t. U hate yourself !
I hear you Frosty, and I too jumped on some of the things they spoke about, but as I sat and learned more about it I came up with these thoughts…
> The acceleration is breathtaking I agree, and I street raced cars when young. Then I thought where that would be useful? Nowhere I drive now, or in the future. Not in any Cities either. In fact it’s potentially just accidents awaiting to occur, with new drivers anyway.
> they are sneaky quiet. I like to hear cars coming, and in my location especially. Not a big issue I suppose, but that’s a lot coming, at little to no sound.
> Handling is not so great given the weight, and for me that’s a setback, and especially when driving fast, or are you not supposed to go too fast because of this?
Like you I am waiting, and will probably jump after our two New Vehicles (beat the price hikes) need to be replaced, or depending on location then, go to one vehicle? It will be a GV at this point I am pretty sure, but only time will tell…
Disagree on handling. The batteries are heavy and under the floor, which lowers the center of gravity.
Huge EV convert here. Driving a 2020 Chevy Bolt. Nicest driving experience I’ve ever had, hands down. The silence in the cabin and complete lack of engine noise and vibration make it so incredibly peaceful. It feels like magic, you just press on the pedal and you’re flying. Acceleration is great even though it’s a single motor EV- Teslas must really be rocket ships with dual motors. (I’ll never give Musk a dime.) I am usually a moderately cautious and defensive driver, and the display showing your real-time kw/h rate subconsciously reinforces a sedate driving style, but once in a while I get a chance to unleash it and it’s like other cars are suddenly standing still. You can pass someone at a dotted yellow line before they even notice you were accelerating. It’s not the 0-60 that feels fast, it’s the 40-70 or whatever. Having that instant torque on tap is awesome. You can definitely feel the weight of the battery when cornering, however the handling still feels responsive tight.
Yes, Electrical cars have many advantages.
It was the initial design, before they moved on to diesel, and later to gasoline.
The problem of the early EV is still the problem today: battery.
And the larger the range, the bigger the proportion of the battery and your energy use goes into hauling around that heavy battery.
Yes, there have been improvements to batteries, but these come at the cost of relatively exotic materials with unwanted ecological and energy footprints and with no ability to scale to the global population. Perhaps the break-through is yet to come.
I totally disagree. Auto makers were pushed and cajoled into the electric car craze because regulations on diesels and gas combustion have gotten ridiculous. Start-stop engines, cylinder deactivation. I am tired of folks who are not car guys acting like experts. I have been reading car magazines since 1973. If Porsche could sell a brand-new Porsche 911 from 1972, they would fly out of lots. If I could buy my 2003 Tundra brand new again, I would buy it in 30 seconds over any new truck. In fact, there is nothing brand new that I would buy over a brand-new car from 20 years ago.
Thank you! Not to one up you…. Not braggin’. But… Beatnik Bandit!!! Tommy Ivo, and 4 V-8’s all hooked up!!! Double 5’s , STP, Sorry… I am having a moment…. 40 plus custom model cars…How about a TR 250/TR -5??! Or a ‘58 Vette??? Or flying a’59 Impala when it gets over 100 mph??? Or a ‘56 Chrysler with a Hemi??? Ok. I’m done. Be Well
I had a beautiful 56 T-Bird that was spectacular in Peacock Blue and White. 292 V8 with triple duces. Drove it rarely and couldn’t stand its lack of handling or its brakes. Plus the thing smelled/stunk of unburned hydrocarbons. I loved the nostalgia and looks, but goodness that thing sucked as a car.
A 1972 Porsche 911 has mechanical fuel injection and it is a real pain in the ass to keep tuned. Sure the 72 is a blast to drive when it is tuned as a weekend toy. With its primitive AC and heat I do not think it would be a great seller. Most drivers can not handle its snap-oversteer on throttle lift… For its time it was quite the car but the average Toyota Camry can blow it off the road today. I have owned around thirty Porsches and they kept getting better until 2018 when the electronics eviscerated too much of their DNA. The touch screens are impossible to navigate when driving in challenging winter conditions and I have refused to buy a new one until they get back to analog controls I can identify without taking my eyes off the wheel.
VW has ceramic anodeless solid state batteries on deck and that could be a saving grace… We will see if their 800 volt systems can gain traction as well…
Oh, the nostaglics again. Here’s a song for you.
https://www.youtube.com/watch?v=UcF0SY0m3sU
You must be wrong! Biden took the stage with Mary Barra to tell us the future is with the big 3, led by GM. This is just a temporary blip. Just wait. /s
I test drove a few BYD models in Mexico. I consider them superior to Teslas which I have driven as well. I plan on getting a BYD next year, as I now live in Mexico and have the freedom to buy what I choose….not what I’m told or allowed.
Sounds like you executed a beautiful exit strategy and are already reaping the benefits of a higher quality of life. Congrats.
Thank you!
How are the narco gangs in your area?
Don’t know anything about the Narco gangs, I feel safer in Mexico than in the States. How are the Narco gangs in the States? The Slacker Family, owners of Purdue Pharma, makers of OxyContin. When I was in college at the University of Kentucky, I was a pharmacy Tech at Walgreens…people would drive all the way from Eastern Kentucky to Lexington, trying to fill RXs and forged RXs. The Purdue Cartel and their “drug reps” caused generational damage throughout the state. America is cool with the Slacker Cartel because they provide funds to both parties.
No one is talking about what’s coming: solid state and semi-solid state EV batteries. They are going to solve all of the limitations of today’s liquid electrolyte EV batteries, and will render light ICEVs obsolete. Sometime around 2040, which isn’t far away, you won’t even be able to find a new ICEV light vehicle, i.e. car, pickup, minivan, SUV. Poof! Gone!
Soon, beginning before the end of the decade, the next generation of EV’s will have a range of 600 miles or better. Charging times will be much faster. Cold weather and hot weather performance will be much better. Battery degradation will be greatly reduced. And they won’t be nearly as prone to catching fire.
This will not a matter of government mandates or saving the planet, blah blah blah. It will be strictly engineering. ICEVs will go the way of the oil lamp when the lightbulb was introduced; the sailing ship with steam and later diesel engines were introduced; the way of steam locomotives when General Motors commercialized the diesel-electric locomotive in 1937; cathode ray tubes when LEDs were perfected.
Sadly, neither Germany nor the U.S. will be the leader. China, Taiwan, South Korea, and (maybe) Japan’s Panasonic will. Many of today’s automakers are dead men walking. Don’t trust me, but look for yourself. Search term: solid state EV battery news.
I’ll worry about what I may or may not need in 2040 if I live to 2040. And, sadly by that time I will have already purchased my last vehicle which will surely not be electric. It’s fine to discuss 2040 but there is a huge demographic who will be checking out by then. You give me an affordable EV truck that can do what a modern gas/diesel truck can do which also can drive from Minneapolis to, say, Dallas, in one grinding all-day road trip, I’m in. That’s 900+ miles. It also needs to tow thousands easily. And not need tires every other year.
Consumers need choices not mandates. Things will get worked out.
Mish is right, there would be a massive push for chargers and grid updates if you gave them a sub 20,000 electric car option. They’d sell out as fast as the $4.50 pizzas did today.
Not everyone is as old as we are, believe it or not. The transition won’t happen right away, but it WILL happen.The chances are 100%. First will be the lighter vehicles, then the HD pickups. By the way, on that drive from Mpls to Dallas, you stop for fuel. If an EV can recharge in 15 minutes an have usable (80% of battery) range of 500 miles, it will work just fine. HD trucks will simply need a bigger battery.
Look, the semi-solid state ones are already on the road in China. This is coming. It’ll be in two waves: first semi-solid state, then full solid state. Maybe after you’re dead, and maybe me too, but it WILL happen. Baked in the cake.
You’re driving a truck (that is big enough to tow thousands of pounds) on a 900-mile one-way trip? What a financially illiterate and environmentally bankrupt ‘citizen’.
You’re the meme reason the government was recently promoting EVs. Good for you – old man – in getting your way, no matter how it affects the rest of us.
Happy Halloween, you ghoul LOL
How does it affect the rest of us? You’re not a global warming cultist, are you?
Hamas terrorists got an exit strategy. After being released from prisons the IDF killed those rats. China is a terrorist state. The PRC: Taiwan, revenge, Hamas. When in troubles, under pressure Xi caved in to Trump. Trusting him is like trusting Sinwar. Too many dems are infatuated with China and Xi. Idiots, got an exit strategy: don’t go to where u are going to die.
BYD destroyed the German car mfg. BYD and other Chinese mfg can’t get a visa
to the US. Trump threats prevented BYD plant in Mexico. Tariffs work.
Really? China is selling cars profitably to 7.6 billion people. The US is selling antiquated expensive crap to its tiny 400 million person market.
There really isn’t any need to make cars that can’t drive through snow and can’t operate at -40F. This is a case of misguided management on the whole. Make what suits the immediate market.
-40 will indeed be a problem. I think they’ll find a way to heat the batteries in the northern Great Plains.
A bad year for VW. What about the VW buyers? They didn’t do that great from what I’m hearing.
VW brought back the van as an all electric, big mistake. They should have brought it back as a hybrid.
Blaming regulations for poor EV sales is ridiculous. Gas vehicles have been facing much stricter regulations, and EVs have had the advantage of being massively subsidized and mandates like banning making gas vehicles in future, like by 2030 or 2035 in some districts. The reason for declining EV sales is that most people don’t want them. China is a special, hugely distorted case – having had subsidies so generous that everybody and their uncle started producing EVs and now the market is so flooded they’re practically giving them away. And electricity is cheap in China because they’re not afraid to use coal to produce it.
GM’s vehicle sales in Q3 grew 8% YoY. This seems quite stunning to me. So like homes, this means the top 25% income earners are carrying auto sales. Like everything else, how many more quarters can this hold up? The economy, in large part, appears to be running on fumes.
I disagree with the assessment that “GM and Ford union costs are massive” and the unsubstantiated charge that union workers are “stifling innovation”. Auto production is highly automated and labor is a much smaller fraction of the total cost than it was in the past.
AI says “The average U.S. autoworker on a manufacturing production line earns about $28 per hour, with top-tier workers earning around $33 per hour and lower-tier workers earning up to $17 per hour. Wages have been affected by a tiered pay system introduced after the 2008 auto industry crisis.”
Those are not high wages and unionized auto workers make much less in real terms than they did 30-50 years ago, never mind when Ford was paying them far above average in the early days of the company before it was ever unionized.
Trump’s tariff policy will not work. I strongly suspect it was not designed to work and Trump’s people know it. Trump has done little, if anything, to correct the fundamental problems in America that have caused our industry to be uncompetitive. Trump or Biden? Seems to have made little difference. Yes Trump throws a few well publicized bones to the MAGA crowd to keep their support. Most of the Maga crowd is easily fooled. They are driven by emotion, rather than facts and reality. Too lazy to actually seek the truth. Yes the Sheeple on the left are far worse, but that’s little consolation to those of us who understand what is going on and realize that it’s too late to avoid very serious pain for what is coming to America. Responsibility and accountability is a bitch.
And the way to change tariff policy is via small percentage changes yearly, so businesses can adapt faster than they go bankrupt. Not shock treatment.
TPTB shocked the economy when dropping tariffs decades ago and again now, in different directions.
Since successive uniparty admins signed off on enough of it and came and went, blame the uniparty for all of it.
Xi loves MAGA. Xi was impress with Trump peace deals, especially in Gaza. Xi promised to help to end the war in Ukraine. China provides drones to both sides. S. Korea students love MAGA.
Xi loves MAGA and Trump because he knows they are destroying the USA.
It doesn’t stop at overpriced cars….
it’s overpriced cars, medicine, tuition, insurance, food, metals, microchips, and on and on. The best way to escape the high cost of everything is to simply go where there are less or no tariffs and enjoy all those goods and services at their natural (low) prices.
Got exit strategy?
That’s what the wealthy can and will do, while some poor folk supporting this mostly get screwed.
Asking again: what is your exit strategy? You seem to tout an exit yet you are still here. Why ? What are you waiting for?
You claim all these countries that are at peace. Name one.
In 8 years I’ve traveled to more than 20 countries. None. Repeat…none are of value to me to uproot my life and move there.
My exit strategy is to “hide in plain sight…”
What is yours?
Life without parole.
What????
Nihilist thinking???
I have to agree with Edv on this one. I have travelled for extended periods to five countries and for over two weeks to fifteen others. New Zealand and Australia topped my list but Australia has fallen off after my last visit. New Zealand is the only country I would consider.
If I were French or Italian I would consider the Mediterranean coastal lifestyle but the roads and crowding are not appealing. The food is healthy and fantastic!
My bit of paradise is right here in the US and I’m not saying where it is as it took some work to find it.
Leaving Florida was the best decision I ever made and Texas is like a foreign nation.
Since you’re clueless, here you go.
https://en.wikipedia.org/wiki/Global_Peace_Index
As for what am I waiting for, you don’t just pick up and move. You need long term visa to stay in country such as a golden visa and that takes time. You also need a place to live in, I spent 3 months in Asia this year looking at properties in various locations.
Then after that there are the logistics of moving overseas, setting up bank accounts, executing money transfers, estate planning for assets left behind and other things.
None of this is done overnight. You’ll figure that out if you ever wise up.
Wise up???? You want to move to Asia????? Everything in Asia is communist… Vietnam…Cambodia.. I wish you luck. Wise up… you’re heading for a nightmare. Good luck. I’ll pray for you. See I came to the conclusion that setting up all the logistics that you cite is futile.
But if you want to live in communist hell hole…. More power to you
Hope you like dictators
YOU are correct. if goods and services are you number one concern in life. please take no offense, but many people value their children first and foremost. and large families make leaving this dying empire quite difficult. there is also the possibility that amerikans will gain wisdom and become like italians. ignore the laws you don’t like and hide 1/3 of your income and assets from the government. seems like that is the direction of many. i happen to have a few passports. italia is one of them. think like an italian is what i recommend to my boot licking puppy amerikan pals. i’m an amerikan. born and raised in hymie town. please LOL
Some of my children already exited the US and moved to Europe. We all travel around the world and meet in various places: Malta, Greece, Croatia, Argentina, Uruguay, Japan, etc. I spent a month in Europe this year with one of my kids.
And taxation is a main driver of my whole strategy, I am really tired of paying to support everyone else and it’s never enough anyway. It’s time to save and prioritize me not the world.
Go where you are treated best. (That’s a trademark of Nomad Capitalist).
Name one country!!!
So you’re rich. Congrats.
“And taxation is a main driver of my whole strategy, I am really tired of paying to support everyone else and it’s never enough anyway”
You are supporting millionaires and billionaires with USA taxes.
Hide in plain sight
Plus 100 ! and Plus 100 for your Dr. Grok post