Posted on 08/15/2014 6:14:06 AM PDT by wetphoenix
Economic growth in Europe came in at zero in the second quarter of 2014. That's better than being in recession. But it's not the growth that Europe — with its huge unemployment rate of 12 percent, or roughly 19,130,000 people out of work — needs.
The eurozone (below in blue) has been in a depression since the financial crisis. That's because in terms of gross domestic product, the eurozone has not risen back to its pre-financial crisis levels. The U.S. (below in red) on the other hand has gotten out of its slump, and continues to grow at a decent clip:
(Excerpt) Read more at theweek.com ...
“The U.S. (below in red) on the other hand has gotten out of its slump, and continues to grow at a decent clip:”
chortle.
This is what happens when you put unelected bureaucrats in charge.
Ms. Nuland said it best.
Although I’m no economist, and I haven’t deeply studied the background literature, I’ll go out on a limb, and speculate one reason Europe is in the dumper is that we’re buying a whole lot less of their stuff. Fewer German cars, less $40 snooty stinky cheese from France — and so on with a hundred other stereotypical products.
Bet ya!
Bernake set up a weak dollar, which gives our products a price advantage in Europe — and gives European companies with a line of credit incentive to buy companies here instead of investing there. It’s simply amazing how the world’s money class can milk U.S. monetary policy.
I agree and our economy still isn’t what our government, especially the ones on the left like us to believe for one simple reason.
No country ever taxed, spent, ruled and regulated itself in to prosperity and our lame economy proves the point. Unfortunately way too many of our politicians are either to ignorant or dumb, especially the ones on the left to understand it.
“Unfortunately way too many of our politicians are either to ignorant or dumb, especially the ones on the left to understand”
I have an alternative point of view. Most of these politicians are smart people and know where the path our nation is on leads. I suspect the truth is most of our politicians are lining their pockets and taking full advantage of the K Street lobbyist gravy train, absence of insider trading rules, plus the limitless opportunities to enjoy their wildest sexual fantasies with the young men and women serving them. Not to mention the ego gratification that comes from exercising raw power.
They all know the day of reckoning is coming and are determined to take as much as they can until the music stops. No doubt the older ones (McCain, Reid) believe the day of reckoning will come after they assume room temperature.
The fact almost no one elected to Congress or the White House ever returns to their home state and community says it all.
They never look at government at the cause of all of this, only as the solution. Isn't that prejudiced and bigotted?
Your point of view pretty much sums things up. The looting, plundering, and pillaging of the US economy will continue until the looters (cronies>lobbyists>politicians) run out of economy to loot, or they ignite a rebellion, which is unlikely due to the sufficiently dumbed-down masses residing here.
Europe never has a thriving economy like the United States once had. They just do not have the disposable income. Near everything is a sizable purchase. So, I am curious what life in Europe under a “depression” is like.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.