Posted on 04/25/2009 3:56:05 AM PDT by TigerLikesRooster
Europe's Grim Outlook Challenges World Recovery Article
By MARCUS WALKER and JOELLEN PERRY
Europe's economy faces a deeper recession and a slower recovery than the U.S. or other parts of the world, making it the region that is most hurting prospects for an early end to the global economic slump.
The EU's economy is set to contract 4% this year, even worse than the 2.8% drop projected for the U.S., according to new forecasts published Wednesday by the International Monetary Fund.
Those figures came as the U.K. released a budget that includes its biggest jump in the national debt since World War II. Germany, Europe's biggest economy, shrank by 3.3% in the first quarter -- a steep slide from a 2.1% contraction in the last quarter of 2008.
German Finance Minister Peer Steinbrück on Wednesday said it was "not unlikely" that the country's economy will shrink by 5% or more this year, and leading German economics institutes said GDP is set to contract 6%, which would be its worst recorded performance since 1931.
(Excerpt) Read more at online.wsj.com ...
Ping!
When the US recovers, the world recovers.
One word explains it all: socialism.
Somehow in all the hooplah about the world economy the idea of Buy American got lost in the shuffle.
Buy American will help us. The others can help themselves for a change.
Buy American will help us. The others can help themselves for a change.
“No it won´t help. The last thing the world needs right now is another trade war. (and this would be the result of buy American).”
It isn’t even possible for broad categories of goods. For instance, try and buy an “all-American” computer. Can’t be done.
That is the end result of environmentalism and high taxes run amok.
I bet if you quizzed a thousand Americans less than 3/10 would come up with that answer.
Decades of government indoctrination at government run schools by pro-government teachers and administrators have dumbed Americans down to the point that they aren’t certain about the free market.
They don’t realize that the free market isn’t some theory or wispy concept. The free market is free people exercising that freedom.
It isn’t even possible for broad categories of goods. For instance, try and buy an “all-American” computer. Can’t be done...
With European economic growth collapsing, it’ll be interesting to see how long before the large population centers containing large numbers of North African Muslim immigrants use this as a pretext for more violence. Your run of the mill anarchists have also got to be excited about the upcoming field trips.
At stake: Would Notre Dame Cathedral remain a church or become a Mosque featuring minarets?
Good question. If living standards continue to deteriorate throughout Europe you’re going to have a lot of different groups pointing fingers. Their big banks are generally in much worse shape than ours. You’ve got a large assortment of hardcore leftists/anarchists and an exploding Muzzie population.
Very volatile mixture that I believe is going to result in some real fireworks and change over the next 3 years.
Good question. If living standards continue to deteriorate throughout Europe you’re going to have a lot of different groups pointing fingers. Their big banks are generally in much worse shape than ours. You’ve got a large assortment of hardcore leftists/anarchists and an exploding Muzzie population.
Very volatile mixture that I believe is going to result in some real fireworks and change over the next 3 years.
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