U.S. Economy no longer #1

[HedgefundTrader2]

Quote from RacerXXXXX:

Obviously this news is not a good thing, but let's remember that this article is comparing the economy of an entire continent with one country.

Its like comparing apples to oranges and than using some doom and gloom sprinkled on top to make it bitter..

 

[Tiura]

Quote from stock_trad3r:

Thats a pretty stupid story. Comparing the entire EU to America.

Thats a pretty stupid post. It is NOT the entire EU (27 countries) it is just the Euro countries (15 countires).

For example such "small" country/economy as UK is not in Euro and thus not included in the calculation.

 

[Tiura]

Quote from RacerXXXXX:

Obviously this news is not a good thing, but let's remember that this article is comparing the economy of an entire continent with one country.

Entire continent? Get your facts straight.

There are 15 countries in Euro. There are many more European countries outside than in. Notable countries missing from euro are for example UK, Switcherland, Sweden, Denmark and Norway. Also almost all former eastern block countries are missing from euro.

 

[gnome]

Seems some patriots here are missing the point....

1. With about 400MM population Europe is a bit larger than the US.

2. Taking into account the EU, whose common currency is the Euro, it can be compared economically to the USA.

3. Thanks the the economic policy of our political and financial leaders (oxymorons for sure), the output of the USA now has less economic value due to currency destruction. And the more the $USD [soon to be aka "The Charmin"] declines, the worse it will get.

What do you all think of Bush, Congress, and the Fed now?

 

[Tiura]

Quote from gnome:

2. Taking into account the EU, whose common currency is the Euro, it can be compared economically to the USA.

Like I allready explained above Euro is not the common currency of EU. Only 15 out of 27 EU countries are in Euro.

 

[stock_trad3r]

The dollar may be falling , but the euro is in a bubble.

 

[gnome]

Quote from Tiura:

Like I allready explained above Euro is not the common currency of EU. Only 15 out of 27 EU countries are in Euro.

So, what is your "allready explained" point? Is it that HALF of the European continent produces more than the USA in currency adjusted terms?

 

[Tiura]

Quote from gnome:

So, what is your "allready explained" point? Is it that HALF of the European continent produces more than the USA in currency adjusted terms?

My "allready explained" point was just what I said i.e. that euro is not the common currency of EU, as you incorrectly claimed.

I have no interest in this childhish debate (not addressed to you, but to some other posters). I just corrected couple of incorrect facts presented.

Nothing more, nothing less.

By the way the Euro area has 320 million ppl U.S. has 304 milloin ppl so they are actually pretty close.

Obviously if one wants to compare production rate between countries / areas the best way is to use production per capita.

In practice the situation is that the "rich" euro countries are ahead of U.S. in terms of production per capita and the "poor" ones like Spain, Portugal and Slovenia are behind.

I think it is funny, but hardly suprising, that ppl are getting so emotional over this (again not addressed to you).

 

[bettles]

According to the CIA World Factbook, the European Union has a population of 500 million. US has 300 million. So while the size of the two economies is now about the same, on a per-capita basis the US is still far ahead.

 

[gnome]

Quote from Tiura:

My "allready explained" point was just what I said i.e. that euro is not the common currency of EU, as you incorrectly claimed.

I have no interest in this childhish debate (not addressed to you, but to some other posters). I just corrected couple of incorrect facts presented.

Nothing more, nothing less.

By the way the Euro area has 320 million ppl U.S. has 304 milloin ppl so they are actually pretty close.

Obviously if one wants to compare production rate between countries / areas the best way is to use production per capita.

In practice the situation is that the "rich" euro countries are ahead of U.S. in terms of production per capita and the "poor" ones like Spain, Portugal and Slovenia are behind.

I think it is funny, but hardly suprising, that ppl are getting so emotional over this (again not addressed to you).

Well then my mistake. I thought the "EU" was a term used for the countries which used the Euro as their currency. I always thought "the countries which used the Euro as currency + all the others who don't" would go by a different term... like, Europe. Gomen.

Addendum... I looked it up...

"European Union - EU

A group of European countries that participates in the world economy as one economic unit and operates under one official currency, the euro."