By: David Solway
"We may be entering an era that is more feudal in its economic and social structure." —Joel Kotkin, "The Coming of Neo-Feudalism" Germany’s leading car parts supplier ZF has recently been forced to cut one-fifth to one-quarter of its workforce, owing in part to Chinese competition and in part to “weak demand for electric vehicles.” Other firms like Bosch, Continental, and Webasto have also been forced to “restructure.” Yet the CEOs of these companies continue absurdly to believe in the future of “electromobility,” since the European Union plans to outlaw fossil fuel-powered vehicles as of 2035. The short-sightedness of EU bureaucrats will lead inevitably to market implosion and an economic collapse,