PeakTrader.com

[administrator]

PeakTrader said...

The U.S. has been the main engine of global growth, because it consumes more than produces (up to $800 billion a year), which raises GDP of its trading partners.

The U.S. has been a "black hole" in the global economy, attracting imports, capital, and the owners of that capital themselves.

Unfortunately, the U.S. government has been a black hole in the U.S. economy, by destroying capital through inefficiencies, taxing efficiencies, reducing output through excessive regulations, etc..

--------

Zachriel said...

From 1969 to 2010, US GDP per capita rose 100%, while EU15 GDP per capita rose 110%. However, US population rose 54%, while the EU15 rose only 17%. Europe started at a lower GDP per capita level, largely due to the ravages of the world wars.

--------

Sprewell said...

The US outgrew Italy, Germany, and Japan since 1990:

https://lh4.googleusercontent.com/-vF8GK-rvi-M/TWwqc8c4akI/AAAAAAAAPBo/0bDZmiecLl4/s1600/japan.jpg

--------

PeakTrader said...

The E.U. economy has lagged the U.S. economy badly for decades, and it may pull us into a double-dip in 2012 (particularly, since the U.S. economy has weakened substantially over the past two or three years).

If it weren't for thousands of years of accumulated wealth, E.U. countries would be Third World nations by now, or within a few years.

E.U. real per capita income is over $10,000 a year less than U.S. real per capita income (even with massive U.S. immigration of dirt poor people, and their children, while E.U. immigration was smaller with more educated and skilled workers).

The cost of living is about twice as high in the E.U. than the U.S..

GDP in the E.U. reflects more public (or state) goods, which are overvalued, while U.S. GDP reflects more private goods, which are undervalued. So, E.U. GDP is overstated, while U.S. GDP is understated.

--------

truth or consequences said...

Peak, Your rant at Europe reminds me of the trash talk Mohammed Ali used to direct at Joe Frasier.

--------

PeakTrader said...

Truth or consequences, I hope you're not comparing the E.U. to Joe Frazier, particularly after I revealed the E.U. is more like Michael Moore doing a belly-flop at a diving competition.