Quote:
Originally posted by tjinaz@May 11 2005, 04:25 PM
While I am with you on the wait and see, I will tell you it does not look good. With the over regulation of the market sectors and the extreme beauracracy of the EU, I don't see that as being condusive to high growth. Just this year IBM cut 13,000 jobs mostly from Europe because it is not seen as a high growth market.
Here is the latest on the French economy.
http://www.bloomberg.com/apps/news?pid=100...9Y&refer=europe
Doesn't paint a pretty picture.
Now here is the report on the US economy.
http://www.bloomberg.com/news/economy/economies.html
This should rule out any global economic differences
So with a growth rate of .05% and double digit unemployment are they in stagnation by your rules? If you took out the government owned businesses it would be much worse.
As I have said before, unless the EU adopts similar policies to those of the UK and goes through that pain, they will never be able to compete against the US, India, Japan or China.
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I hear ya. I can dredge up articles from post-911 that show the US economy as a train-wreck waiting to happen. It didn't. These articles are talking about last year and this year, not forecasting 10, 20, 50 year growth patterns (appropriately, its very hard to predict economic consequences that far into the future).
As I said earlier, time will tell. You think it doesn't look good for the EU, I think it doesn't look good for the US. At this point its a matter of opinion. Right now, the US is a bigger, better economy. Will it always be? I'd like to see more articles supporting long-term EU stagnation and failure, as I've not seen a whole lot of them. These ones point out current issues w/ the economy, but I don't see condemnation for an 'unworkable' union here. It takes time to integrate these things.
The EU's bureaucracy is probably one of the biggest issues in the way of efficiency. They're going to have to figure out how to cut through the massive red-tape. I think if you bet against them succeeding economically, you're going to lose your money.
None of us has a crystal ball, just opinions on how things will turn out. At least you seem rational about your ideological point of view, not everyone here is.