Pretty much. I think he's too eager to write off certain things to paint a wholly American picture, but he's generally got it right. The China story is not as clear. But the Europe picture is pretty plain. America is gonna eat it's lunch.
Energy and infrastructure are the venes of Europe which clocked and overstretched to the max. Something will need to give and it already begins by small bakeries closing and more to follow..
It wont end well. I don't believe we will have any growth in Europe for the next 3 years.
Who is going to invest in Europe if energy is literally unpredictable and expensive?
^ even so it would probably take a couple of years to get methane generation going at scale.
They only wanted gas as a switch off / switch on power source, you cant do that with nuclear.
Instead, people protested also against wind and solar and we switched to cheap gas from Russia.
Which the green parties didn't want at all..