How did this happen?

How did what happen?

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"Fools rush in where angels fear to tread." - Alexander Pope

The EU is 27 countries with 500 million people. Comparing them to the US is comparing apples and oranges.

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Blade: "more educated and literate people than Justabubba"

Justabubba: "that would include everyone"

http://politicalforum.com/showthread.php?t=27847

I said "STOP LOOKING AT THE MAN BEHIND THE CURTAIN!!!!!! THE U.S. GOVERNMENT IS THE GREAT AND POWERFUL OZ AND IT WILL SAVE THE DOLLAR BY PRINTING MORE DOLLARS!!!!!!"

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer

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!

i dont think a depression would so bad. even if we lose half of our gdp we would still be right there with china. we wont have many of the luxuries we have now but i dont think it would be as bad as the great depression.

I think you should read up on the details of the Great Depression.

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Blade: "more educated and literate people than Justabubba"

Justabubba: "that would include everyone"

http://politicalforum.com/showthread.php?t=27847

What really irritates me is how much the recession/depression is being inflamed by both Ben Bernanke (Fed Reserve Chairman) and the media. In my opinion, the country's economic situation would be greatly improved if they would just stop talking.

I mean, to hear them tell it, the US economy is in a freefall spiral to utter destruction in a fiery, gory Hell. The smallest downturn or DOW loss is hyped to the point of insanity. Granted, the economy is going through a slump, but such things are only worsened by uncontrolled emotion.

Every depression in our nation's history, from the Panic of 1819 to the Great Depression, started with a small problem that was subsequently blown entirely out of proportion, resulting in massive sales/defaults and a severe economic crisis. There's a reason that the words "Panic" and "Depression" are synonymous in economic history.

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Men of England, heirs of Glory,
Heroes of unwritten story,
Nurslings of one mighty Mother,
Hopes of her, and one another;

Rise like Lions after slumber
In unvanquishable number,
Shake your chains to earth like dew
Which in sleep had fallen on you -
Ye are many - they are few.

- Percy Shelley, "The Masque of Anarchy"

I agree that the Great Depression turned into a prolonged Depression because of government intervention...to look at our situation in purely how bad our debt and spending and so forth is getting, it looks grim IMO.

This is a non story. I'm a european and I know this situation won't stick. We will continue to outstrip the us but we will in turn be outstripped by China. We are benefiting from the explosive groeth levels of eastern europe and have plans for further expansion. However this will pale in significance to the authority weilded by the chinese. The events of the last few weeks in tibet are a great demonstration of the shifting geopolitical landscape in these terms.

The west cannot discipline China at the moment because we know they are holding a shed load of dollars, euro and pounds. They would only have to release those onto the market and a small financial blip turns into 1929. In reply to some of the remarks being made on here though.

Ben Bernanke is not at fault. Not saying the word recession woun't prevent an inevitable recession it only prevents creating a recession. Thats just stupid. There will be a recession of some kinds given the tighter fiscal situation that will have to be imposed upon the us government. Secondly, government debt doesn't just affect the grand kids. It can cause serious restraints on borrowing in credit markets which at the minute is the last thing you need. It detracts from investment.

The only significant difference between the US and the EU economies is that we have a plan and diverse markets that may be able to react to the emerging markets. I'm not only talking about china either. There is significant growth in the likes of indonesia, Russia, India, South Africa, Brazil. They used to call them the bric's but now there are more than just four of them the list is endless.

The US trade defecit is a significant sign of the troubles ahead for the U.S. economy. The only economy that looks in similar problems in europe is the U.K (where I'm from). My advice is sell your dollars now because soon the saudis will.