Posted on 08/05/2005 12:10:45 PM PDT by Jordi
Hmmm. I have maybe 2-3 drinks per YEAR.
I see a personal attack, but I don't see any rebuttal to any of the points I've mentioned.
But, actually, my apologies. My rant was directed more at the author of the "study" than at you personally.
Except that Italy is already calling the Euro a calamity for their economy. Greece as well.
There's definitely infighting.
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Not only that, France and German cannot even get their fiscal house to meet EU budgetary directives. They make too little and spend too much.
You all did notice the French said NON to the EU right????
The choose the wrong people IMHO.
Why is your opinion valuable? Have you read their other writings? Do you know these authors or are you just making assumptions about the quality of the Bush Administration's vetting process.
"Yes, but the study was commissioned and published by the National Bureau of Economic Research, part of the Bush Administration."
Ah NO it is a Liberal "think tank".
They are the Chicken little variety of think tanks, they come out with these sort of "the sky is falling, the sky is falling" reports about 2xs a month.
http://www.nber.org/info.html
HISTORY OF THE NBER
Founded in 1920, the National Bureau of Economic Research is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works. The NBER is committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community
2)Same of above. No military abroad i.e. less political influence for the U.S. abroad.
3)....and face unrest in Nigeria,Angola ,Guinea and consequent disruption of ExxonMobil plants. Africa has become "interesting" since they found exploitable oil fields there.
4,5,6,7) So you support protectionism, isn't it? No trade, no export , no imports. At least oil and raw materials have to be imported (and since 2004 food too). Actually the U.S imports 1.5 trillion of goods and services a year: can all of them be home-made?
8)movie/music/sowtware industries account for some 5-10% of the economy, and face competition as well. Non piratable Microsoft OSs would be fastly replaced by piratable ones (i.e. Linux). As for music and movies its IMPOSSIBLE to protect them from piracy.
You gave the prescriprtion for suicide.
Why is your opinion valuable? Have you read their other writings? Do you know these authors or are you just making assumptions about the quality of the Bush Administration's vetting process
And again, this has nothing to do with the US Govt. It is a Liberal "think tank", not an arm of the Govt.
3)....and face unrest in Nigeria,Angola ,Guinea and consequent disruption of ExxonMobil plants. Africa has become "interesting" since they found exploitable oil fields there
Funny how you missed the fact that those are primarily European and Chinese supplier
I have read this writing, which is enough to derive an "opinion" on this topic, and who was choose to provide advice...so lighten up Francis.
I should have added some clarifications about oil industry.
Worldwide oil exploration, extraction ,transportation, refining, distribution is dominated by 8-9 Oil Majors of wich ExxonMobil is the biggest. Developments of oil fields in remote areas are usually made by joint ventures including local oil cos' (if there are) plus 2-3 majors. So while industrial nations tend to be supplied by the nearest oil producing areas, it has no implications about the nationality of the Majors doing the job.
I add another irritating ranking, of the world biggest publicy traded oil companies by market value, according Yahoo Finance:
1) ExxonMobil ((U.S.) 372.5 B
2) British Petroleum (Britain) 244.1 B
3) Petrochina (China) 154.6 B
4) Total (France) 152.0 B
5) Royal Dutch (Netherlands) 131.5 B
6) Chevron (U.S.) 126.8 B
7) Eni (Italy) 109.3 B
8) ConocoPhillips (U.S.) 89.4 b
Aggregate data:
1) Europe 636.9
2) U.S. 588.7 B
3) China 154.6 B
“Two of the strongest economies in Europe are the UK and Sweden.”
I read here on FR that Sweden has the same GDP (gross domestic product) as Arkansas. Arkansas is the fifth poorest state in the union. This isn’t saying too much for the Swedes.
“The euro could supplant the dollar as the world's dominant reserve currency within 20 years if Britain and other European Union countries adopted the unit and the greenback continues to slide, a recent study showed.”
Dream on. Only if we stood still and stopped growing.
Oh, by the way, I also read here on FR that if Califonia were a seperate country, it would be the 5th richest country in the world. That is what I read. I don't know if it is true with its socialist agenda.
But anyway, phooey with the above article. Consider the source.
This stagnation have nothing to do with the Euro. It would have happend anyway maybe it would have been worse. The common market makes it easier to trade between countries and saves company time and money. Where do you think the US would have been with 50 states with boarders and passport compare to the common market. My guess is that living standard would not have been at the same level
Even the socialist in Germany is giving huge tax cuts. There are major restructioning going on. It might take a year or two, but I am surtain that growth will pick up.
Socialism is bankrupting the countries of Western Europe. Now that the Constitution has been rejected, individual countries may start their printing presses again (France, Germany and others already have incurred deficits over the allowed level). This will drop the Euro's value compared to the dollar.
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