my advice to the US and the EU

US: raise interest rates. banks won't lend much if they can't make much profit. i know you think it will hurt jobs and maybe even cause deflation, but you're wrong. we're in a cost-push inflationary phase. jobs will grow faster.

EU: get rid of the VAT. replace it with a progressive income tax. you're killing yourselves. the people who buy most can't buy as much as they would. take the most taxes from those who can afford it most.