Quote:
Originally Posted by Truth-Bringer
U.S. loses No. 1 ranking as dollar drops
European Union now has world's biggest economy
Posted: March 18, 2008
By Jerome R. Corsi
The European Union has overtaken the U.S. as the world's No. 1 economy due to the continued dramatic fall of the dollar, according to a Reuters report.
The U.S. Gross Domestic Product, or GDP, for 2007 is officially estimated at $13,843,800 billion. The 2007 GDP for the 15 EU countries is estimated at 8,847,889 billion euros, the report said.
That means when the euro yesterday topped $1.56, the EU officially became the largest economy in the world.
In a Financial Times commentary published Monday, former Federal Reserve chairman Alan Greenspan declared the current financial crisis in the U.S. "is likely to be judged in retrospect as the most wrenching" since the end of World War II.
Rest of Article Here |
EU does not have a unified economical policy. Half of the EU countries are ranked behind the first 50th countries with the highest GDP........
Perhaps the EU currency got strong but it's causing a huge damage to the EU economy. A large group of economy advisers have called for the lower value of EURO...At the same time, the American products are in demand all time high.
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Jesus beat the devil with two sticks. Colossian 2:13,15
Proud American!
Communism/Socialism is similar to legalizing burglary and murder!
Last edited by TrueAlbo2006; 03-20-2008 at 12:03 PM.
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