Here’s why the Euro will fail. A nation’s health depends on the willingness of its people to work. For all it’s faults the USA still has the hardest working population of any industrialized nation. Europe is on the downslope with a majority population of moochers. The Euro can only be falsely propped up for so long. Unlikely that a nation populated mainly by yobs will amount to anything.
“For all it’s faults the USA still has the hardest working population of any industrialized nation.”
I agree, but the reasons Europe is in decline at this point go far beyond the willingness of the population to work hard. Political corruption, loss of a manufacturing base, overzealous immigration, the socialism you mention, and demoralization of those whose ambition would normally help drive prosperity are all major factors.
I’m very worried about where all of this is headed. I was also told recently that the rise of anti-Americanism, fueled significantly by anti-American immigrants, has had a significant impact on tourism. Europe is committing demographic suicide.
I’ll point out a couple of other facts.
When the Euro was created...the US quickly and quietly worked to under-value their currency. It only took four years to trim off twenty-percent of the value of the dollar, and create a cheaper dollar which Europeans took advantage of. By 2007, they had carved off almost forty percent of the original value/parity of the dollar to the Euro. It was plainly...Bush-policy at work, to generate more business for American industry.
Somewhere along the way, because of stability in this decade, lots of international players parked their money in Europe because of this perceived stability and strength. Even after the 2008 economic stumble...there was more faith in Europe and it’s banks....than in the US and it’s banks.
Over the past three years...things have changed. Greece is favored to leave the Euro this summer, and Italy/Spain/Ireland are regarded as problems in terms of jobs and stable economies. This Bush-plan to turn easy business to the US favor has been figured out, and countered. They want to cheapen their currency now, and create the opposite wave and get US purchases.
I’ll go ahead and make the prediction by summer of 2017 that we see the dollar buying 1.15 Euro (it was .65 just five years ago). Analysts aren’t talking of a short burst period....they are talking about a full decade where the weaker Euro policy will be driven.
You are wrong.
China is an industrialized nation, and has surpassed America now in exports. Just last year we ran the largest trade deficit in recorded history with China.
America needs to bring back manufacturing.
To America.