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Eurozone left in lurch as US 'can-do’ spirit spurs economy towards revival
The London Sunday Telegraph ^ | January 6, 2013 | Roger Bootle

Posted on 01/06/2013 4:50:40 PM PST by 2ndDivisionVet

So the Americans did it. They avoided the fiscal cliff – right at the 11th hour, much as many of us suspected they would. Not that America’s travails are over. Quite the opposite. The fiscal problem has been merely deferred, not cured.

Meanwhile, even given Congressional agreement on immediate fiscal issues, the pace of economic recovery is set to be modest.

Yet even this is better than the outlook for the eurozone, where the economy is likely to languish, if not to contract further. Why do the US and the eurozone present such different economic prospects?

One possible answer is that the economic crisis has been less severe in America than in Europe. Yet the Great Recession began in America. Moreover, the initial falls in GDP were pretty similar across all of the older industrial countries. It has been the recovery that has been different, with America and Germany recovering the most. But whereas America’s recovery will probably continue to sputter along at about 2pc per annum, Germany’s GDP growth appears to have come to a halt. Indeed, she could even slide into recession herself...

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS: 11thhour; 13thhour; 26thhour; economy; employment; europeanunion; housing; jobs; opec; theobamarecession; theobamataxhike
What United States is this guy talking about?
1 posted on 01/06/2013 4:50:44 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet

I think he needs to change pharmacists..


2 posted on 01/06/2013 4:53:04 PM PST by cardinal4 (Constitution? What Constitution?)
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To: 2ndDivisionVet

I think Bootle tipples.


3 posted on 01/06/2013 4:53:12 PM PST by skeeter
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To: 2ndDivisionVet
the Great Recession began in America

Central banks were propping up Europe big time back in the early part of the century. It's been a worldwide crisis for years. The US recession was only the latest symptom.

4 posted on 01/06/2013 4:55:38 PM PST by P.O.E. (Pray for America)
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To: 2ndDivisionVet

“What United States is this guy talking about?”

LOL I was wondering the same thing


5 posted on 01/06/2013 5:26:14 PM PST by SisterK (Freedom to Fascism. Aaron Russo)
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To: 2ndDivisionVet

Sure ain’t this one. And why did the Telegraph hire a guy whose name is Bootle?


6 posted on 01/06/2013 5:30:06 PM PST by Olog-hai
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To: 2ndDivisionVet
spurs economy towards revival



             

7 posted on 01/06/2013 5:46:07 PM PST by tomkat (-/\/\/\-)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks 2ndDivisionVet.
OPEC Has Already Turned to the Euro
GoldMoney Alert
February 18, 2004


...The source for the euro exchange rate is the Federal Reserve, and I have calculated the euro's average exchange rate to the dollar for each year based on daily data.
US Imports of Crude oil
(1)
(2)
(3)
(4)
(5)
(6)
Year
Quantity (thousands of barrels)
Value (thousands of US dollars)
Unit price (US dollars)
Average daily US$ per € exchange rate
Unit price (euros)

2001

3,471,066
74,292,894
21.40
0.8952
23.91
2002
3,418,021
77,283,329
22.61
0.9454
23.92
2003
3,673,596
99,094,675
26.97
1.1321
23.82
We can see from column (4) in the above table that in 2001, each barrel of imported crude oil cost $21.40 on average for that year. But by 2003 the average price of a barrel of crude oil had risen 26.0% to $26.97 per barrel. However, the important point is shown in column (6). Note that the price of crude oil in terms of euros is essentially unchanged throughout this 3-year period.

As the dollar has fallen, the dollar price of crude oil has risen. But the euro price of crude oil remains essentially unchanged throughout this 3-year period. It does not seem logical that this result is pure coincidence. It is more likely the result of purposeful design, namely, that OPEC is mindful of the dollar's decline and increases the dollar price of its crude oil by an amount that offsets the loss in purchasing power OPEC's members would otherwise incur. In short, OPEC is protecting its purchasing power as the dollar declines.
[singing] Gloom, despair, and agony on me...
8 posted on 01/06/2013 5:47:42 PM PST by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
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To: 2ndDivisionVet
If this guy thinks the United States is doing well compared to the Euro-zone the Euro-zone is ready to collapse.
9 posted on 01/06/2013 5:51:10 PM PST by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: 2ndDivisionVet

Where is this “recovery” he’s talking about? If he thinks USA is approaching some kind of recovery relative to his country, England must have slid back to Dickensian conditions. “Please,Master, might I have just a little more gruel?”.


10 posted on 01/06/2013 6:30:21 PM PST by faithhopecharity
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To: faithhopecharity; Nuc 1.1

Really; how long will Obama’s media maintain this charade of “recovery”? Any real recovery (in specific sectors or niches) is more than offset by the losses in most others. If the economy was in any positive shape Obama would’ve won 75% of the vote; he could only bribe the 47% of dependents, plus the government workers’ dependents, to cross the finish line.


11 posted on 01/06/2013 8:12:41 PM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: kearnyirish2
So true. Owebama won because the propaganda media covers for him. Let's quit calling them the main stream media as this adds a legitimacy to them they don't deserve. One other thing. We need to critique pubbies that attack other pubbies for sins the dims commit. Such as the pork laden Sandy relief bill that Christy went off on the congressional pubbies about. They did the right thing there.
12 posted on 01/06/2013 8:27:02 PM PST by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: kearnyirish2

O’s mass media-— the “ministry of truth”. (The 4th estate shows no more sign of any honest recovery than does O’s economy)


13 posted on 01/06/2013 9:00:35 PM PST by faithhopecharity
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To: faithhopecharity

Don’t you mean “May I have another hummus, bey?”


14 posted on 01/06/2013 9:01:00 PM PST by 2ndDivisionVet (I'll raise $2million for Sarah Palin's presidential run. What'll you do?)
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To: 2ndDivisionVet

“What United States is this guy talking about?”

The Fantasy United States that exists in the minds of the MSM, Hollywood. the WH and Obamaphone Lady.

Skittles, anyone?


15 posted on 01/06/2013 9:44:03 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: 2ndDivisionVet

So..it was just a flesh wound.


16 posted on 01/06/2013 9:47:09 PM PST by RckyRaCoCo ( Shall Not Be Infringed)
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To: 2ndDivisionVet

The U.S. is doing better than Europe not because of QE (which the euros are doing under a different name), but rather because of oilfield fracking, hyper-farming, and Web 3.0.

In fact, American citizens are doing progressively worse themselves as you get geographically further away from oilfield fracking, hyper-farming, and Web 3.0.

You can see our pessimism in proportion to our distance from those 3 growth areas.


17 posted on 01/06/2013 9:54:55 PM PST by Southack (Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
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To: 2ndDivisionVet
with America and Germany recovering the most.

Yeesh. I guess that makes sense though. The Eurozone has Greece, Italy, Spain and Portugal.

18 posted on 01/06/2013 10:01:40 PM PST by St_Thomas_Aquinas
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To: St_Thomas_Aquinas
The Eurozone has Greece, Italy, Spain and Portugal.

While WE'VE got New Jersey, Illinois, and California!

19 posted on 01/06/2013 11:57:40 PM PST by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: faithhopecharity

Mr. Bumble was a 19th Century social worker. Off-topic, but an observation.


20 posted on 01/07/2013 1:44:55 AM PST by Eleutheria5 (End the occupation. Annex today.)
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To: Nuc 1.1

“We need to critique pubbies that attack other pubbies for sins the dims commit. Such as the pork laden Sandy relief bill that Christy went off on the congressional pubbies about. They did the right thing there.”

Sure. Christie is in a position where he desperately needs money for his death-spiral state (in which I live); he has tunnel vision, seeing only the goodies for NJ while ignoring the pork for the other states that was included in the bill. Basically, Republicans receiving the freebies attacked Republicans opposed to them.


21 posted on 01/07/2013 3:29:10 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: faithhopecharity

It is frightening to see how much influence the Dem media still has; I was actually believing those stories about the death of the “old media”.


22 posted on 01/07/2013 3:36:18 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: Eleutheria5

Yes. Bumble was Dicken’s “unfeeling” (or at least unwilling to act on any compassionate feelings) parish beadle in Oliver Twist. As such, he was in charge of little Oliver’s workhouse, where, of course, he humiliated and sometimes beat up the charges/residents (inmates?). He married, unhappily, “for money” and eventually wound up a resident (inmate?) in the very workhouse where he formerly “Lorded it over” the poor and orphaned. A “poetic justice” ending for Bumble, it seems.


23 posted on 01/07/2013 7:20:21 AM PST by faithhopecharity
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To: kearnyirish2

It used to be that only a couple of the larger media would “parrot the administration line” — CBS news was infamous for this, as were, of course the NYTimes and WashPost. However,
there were usually other major media who would still break stories about what was really going on inside the government, eventually anyway.
Today, this seems not the case. Investigative Journalism is dead as a dodo. And, every single newscast seems to feature a sound bite from Dear Leader, no matter how distorted, devisive, or shrill its contents. And, with either NO counter viewpoint to balance the story ... or else a patently ineffective or partial “rebuttal” -— so that the viewer or listener or reader is very much left with the impression that The Alien in Residence is doing wonderful things for us. Out there on his Great Quest, stabbing the Greedy, Lecherous Capitalist Pig Dinosaurs for the poor, righteous, downtrodden Proletarian Masses.

Journalism has become far, FAR less an honest trade than “good old fashioned” Prostitution. With the death of the 4th estate, those in power run amok.. as the governed (ruled) is either misinformed or uninformed, propagandized and thus...unable to direct the affairs of those who are supposed to represent and serve them (us).

The “Ministry of Truth” is alive and well, and the Republic is, alas, discarded in the dustbin.


24 posted on 01/07/2013 7:31:31 AM PST by faithhopecharity
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To: faithhopecharity

Well put; couldn’t agree more. I only find Fox News slightly to the right of the rest of the batch. After seeing Al Sharpton & Bill O’Reilly given airtime there I knew Fao had been bought & paid for by the two-headed Republicrat Party...


25 posted on 01/07/2013 2:27:34 PM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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