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The reasons for the problems are no mystery: a lavish welfare system, which the state can no longer afford, and high labor costs, which send businesses elsewhere.
What on earth will Saudi Arabia do when the wells run dry, when oil can no longer pay for the lavish welfare system that provides subsidized goods and free services to the middle class?
Indeed, Europe has been taking a free ride on American military spending for decades, particularly since the end of the Cold War, when many Western European countries wanted to reap the "peace dividend" and spend less on the military and more on a lavish welfare system.
Those were the years of the golden state's post-1945 boom; everything seemed affordable, and Californians saddled themselves with a preposterously lavish welfare system and other extravagances, which eventually provoked a major taxpayers' revolt when, in the 1970s, the living turned difficult.
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Fanned by anti-immigrant and nationalist parties of the right and far right all over Europe, the coming change has led to new fears of a large influx of poor workers and criminals seeking to take jobs from citizens and benefit from lavish social welfare systems.
Its welfare system is enviably generous.
The welfare system does indeed need reform.
And yet, by paying for NATO, the Americans indirectly subsidized Europe's much more lavish welfare.
All this has come without dismantling a lavish welfare state or lightening one of the world's heaviest tax burdens.
A liberal welfare system is different.
Here there's a welfare system.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com