GDP growth revised up(Meanwhile IP stealing Europe is growing at measely 0.1%)

CNN ^ | 12/22/04 | CNN

[KwasiOwusu]

Gross domestic product, the measure of total goods and services production in the country, expanded at a 4 percent annual rate in the July-September quarter instead of 3.9 percent as previously reported, the government reported, a relatively robust pace that implied steady and sustained growth.

The figure beat Wall Street economists' forecasts that third-quarter GDP growth would be unrevised at 3.9 percent and was up from the second quarter's 3.3 percent growth rate.

The economy has expanded at rates exceeding 3 percent for the past six quarters and seems poised to keep growing. The White House last Friday estimated GDP will expand 3-1/2 percent in 2005, a rate that economists consider "trend growth" that keeps unemployment from rising.

[KwasiOwusu]

As the Euros continue to steal even more American IP, including the just announced blatant attempt at theft of Microsoft's intellectual property, their economies continue to tank, while their people continue to be out of work.
Will these clowns consider sending the rabid EU bureaucrats in Brussels to North Korea?
Naaaah.

[Edgerunner]

Funny...my cousin (a demorat) believes the euro and canadian economies are booming and ours is tanking...where does he get this view?

[Moral Hazard]

"As the Euros continue to steal even more American IP, including the just announced blatant attempt at theft of Microsoft's intellectual property, their economies continue to tank, while their people continue to be out of work."

I think this probably has to do with their inefficient labor markets resulting from large unemployment/welfare benefits and massive government regulation than from IP theft.

[Mase]

"As the Euros continue to steal even more American IP, including the just announced blatant attempt at theft of Microsoft's intellectual property, their economies continue to tank, while their people continue to be out of work.
Will these clowns consider sending the rabid EU bureaucrats in Brussels to North Korea?"

_____________________________________________________________

Now we know for sure why the weenies are so concerned by our falling dollar. Their growth (meager and such as it is) is pretty much dependent on America importing and consuming their products. As their growth stalls further their heavy unemployment will climb and maybe, just maybe, they will begin to realize that socialism will not work if they want to maintain or better their quality of life. If we had their levels of unemployment we'd have a revolution. I'd be worried if I was a socialist politician in the EU now.

The value of the Euro cannot be justified given the fundamentals. Anybody smell Soros?

[hermgem]

He got it, seriously, from the Kerry/Carville campaign rhetoric in which he is still mired and imbedded in.

[KwasiOwusu]

"I think this probably has to do with their inefficient labor markets resulting from large unemployment/welfare benefits and massive government regulation than from IP theft.
"

True.
The point remains though, that an atmosphere whereby they can seize any company's IP at will, is sure not going to help their economies grow out of its current mess.

[Edgerunner]

Wonder if I should break it to him or just let him sleep...

[Guillermo]

"Worst economy since Herbert Hoover."

[Guillermo]

To a leftist, an economy can only be booming if no one is doing better than another.

Since the US economy rewards risk and hard work, it is "inequitable" to them.

They'd rather everyone fail, because one fails. After all, what is more equal then that?

[Edgerunner]

Thanx for straighting me out...

[KwasiOwusu]

"Funny...my cousin (a demorat) believes the euro and canadian economies are booming and ours is tanking...where does he get this view?"

From the John Kerry campiagn? Micheal Moore? Whoopi Goldberg?
The list is endless. LOL!

[vpintheak]

Whatreallyhappened.com, fromthewilderness.com, and indymedia.com And any other lefty/whacko site

[In veno, veritas]

Just general info for people. At this rate our economy doubles every 12.5 years. Not that shabby!

[Sir Gawain]

Could you give some more info on the IP theft? I haven't heard this.

[KwasiOwusu]

"Just general info for people. At this rate our economy doubles every 12.5 years. Not that shabby!"

Not shaby at all for a supposedly "mature" economy that is "too mature" to grow that fast.

You just gotta love this country.
There is always constant renewal and so much creativity and entrepreneurship.

[Paradox]

My calculations give me a doubling every 17.673 years or so..

[processing please hold]

I'm glad you asked that question. I haven't heard that either.

[In veno, veritas]

How about 17.5, from the rule of 70. Forgot to carry over : (

[DrDavid]

The value of the Euro cannot be justified given the fundamentals. Anybody smell Soros?

If he has lots of U.S. Dollars that he needs to sell to pay off loans in Euros, then that could push down the Dollar. The other possibility is that the U.S. Dollar is being counterfeited at an increasing pace.

[Mase]

"If he has lots of U.S. Dollars that he needs to sell to pay off loans in Euros, then that could push down the Dollar. The other possibility is that the U.S. Dollar is being counterfeited at an increasing pace."



Very possible. I had never thought of the counterfeiting possibility. I have had many on FR tell me that the value of a currency is a direct reflection of the underlying fundamental health of that particular economy. I don't subscribe to that view but, if that is true, then something is amiss when it comes to the EU because they are in a serious economic mess.