View Full Version : US loses it's #1 Economy position to the EU
The euros are now officially the planets #1 economy.
They most have been a close second for a while, if a few cents change in the exchange rate makes them #1. I knew the euros were doing well, I didn't know how well.
http://www.reuters.com/article/idUSL1491971920080314
PARIS (Reuters) - The U.S. economy lost the title of "world's biggest" to the euro zone this week as the value of the dollar slumped in currency markets.
Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries which use the euro overtook that of the United States when the European currency surged to a record high of more than $1.56 per euro.
"The curious outcome of breaching this latest milestone is that the size of the euro zone's annual output has now exceeded that of the U.S.," the economics department of Goldman Sachs, the Wall Street investment bank, said in a note to clients.
Taking official estimates of 2007 GDP -- $13,843,800 billion for the United States and 8,847,889.1 billion euros for the euro zone -- the economy of the latter passed the United States once converted into dollars, shortly after the euro topped $1.56.
The dollar sank to $1.5688 per euro late in European trading hours on Friday, at which rate the euro zone's 2007 GDP equates to $13,880,568.4 billion.
The 2007 GDP estimates are as published by the U.S. Commerce Department's Bureau of Economic Analysis and provided to Reuters on request for the euro zone by Eurostat, the European Union's statistics office.
disrupter
03-14-2008, 08:00 PM
When you are hoovering out the treasury to support a bunch of politically connected war looters,
instead of actually trying to build up your own economy it was bound to happen.
War is not profitable for people, only for criminals.
You go into them only when there is no other choice.
And you don't spend a MILLION years [McCain's own words] in an insurgency situation, which is just money & lives & reputation down the toilet.
Another check mark for the Bush administration.
kres24GT
03-15-2008, 09:43 AM
When it's all over we will look at FDR as the begging of the end and Bush being the nail in the coffin. I think it is safe to say we are too far gone to turn back and that the totalitarian state is a straight up inevitability now.
Smurf-Herder
03-15-2008, 11:48 AM
Hey, conspiracy theorists, I got the biggest one of all for you.
How do you get a global one-world government?
You need to take down the worlds' only super power first, to level out the playing field.
IMO, this is not a red or blue issue.
It's the globalist elite against the nationalists, in both parties; and internationally. You have to tear down the old, to bring everyone together to raise the new out of the ashes. It all goes back to the Club of Rome meetings in 1972 and the Bilderbergers. Population control, redistribution of resources, international treaties, more control to the UN, etc.
You should look up info on the EU Constitution and the NAU.
These IMO, are stepping stones.
And if Obama gets elected President, he will play a major role in all this.
RandomNerd
03-15-2008, 02:50 PM
This is and always has been by primary argument for European-style socialism. They have achieved a greater economy, standard of living, happiness, and live 6 years longer while preserving the environment and not making the rest of the world hate them.
disrupter
03-16-2008, 12:31 PM
Yeah, but don't forget they did leave a certain global wreckage in their wake.
Unregulated capitalism is simply stealing,
AND it is VERY unproductive.
kres24GT
03-16-2008, 01:11 PM
Yeah, but don't forget they did leave a certain global wreckage in their wake.
Unregulated capitalism is simply stealing,
AND it is VERY unproductive.
Good thing our system is heavily regulated. Good for big business anyway.
Hey, conspiracy theorists, I got the biggest one of all for you.
How do you get a global one-world government?
You need to take down the worlds' only super power first, to level out the playing field.
IMO, this is not a red or blue issue.
It's the globalist elite against the nationalists, in both parties; and internationally. You have to tear down the old, to bring everyone together to raise the new out of the ashes. It all goes back to the Club of Rome meetings in 1972 and the Bilderbergers. Population control, redistribution of resources, international treaties, more control to the UN, etc.
You should look up info on the EU Constitution and the NAU.
These IMO, are stepping stones.
And if Obama gets elected President, he will play a major role in all this.
It's interesting that this concerns you now when it should have concerned you in 1998 when the Neoconservatives spelled it out for all the world to see. http://www.newamericancentury.org/
I just assumed that everyone that voted for Bush wanted the USA to come down to the same standards as the rest of the world. That was part of his plan. Even though he's not an official member of the PNAC he is their mouthpiece.
I'm curious to know why you think that Obama or anyone that's not a member of The PNAC would play a stronger role the in the past 7 years? I think the only reason that they're pushing Romney is because he will continue the work of the pat 7 years.
Obama, Clinton and even McCain may not play ball and might do what's best for the country. Romney and Thompson have made it clear that they will continue the work of the PNAC.
Smurf-Herder
03-16-2008, 05:22 PM
It's interesting that this concerns you now when it should have concerned you in 1998 when the Neoconservatives spelled it out for all the world to see. http://www.newamericancentury.org/
I just assumed that everyone that voted for Bush wanted the USA to come down to the same standards as the rest of the world. That was part of his plan. Even though he's not an official member of the PNAC he is their mouthpiece.
I'm curious to know why you think that Obama or anyone that's not a member of The PNAC would play a stronger role the in the past 7 years? I think the only reason that they're pushing Romney is because he will continue the work of the pat 7 years.
Obama, Clinton and even McCain may not play ball and might do what's best for the country. Romney and Thompson have made it clear that they will continue the work of the PNAC.
Seriously man, it all comes down to the best of three evils.
It all depends on which category is more evil to you.
McCain is the least evil of the three, IMO. And that's basically it for me. Too much baggage on the other two. McCain's supposed to be hard on earmarks, so that's a plus with me; on the economic end. The other two already have promised more spending, to different groups.
It's all who has the most checks in the good column, on what I'm looking for.
I've been enjoying "Vlad's Daily Gloat" from the russian/american paper The Exile - it's been hilarious.
http://www.exile.ru/blog/detail.php?BLOG_ID=17834&AUTHOR_ID=
Don't let reds read the Daily Gloat - they will go apoplectic.
disrupter
03-17-2008, 08:07 AM
People have more important things to do rather than attending to their own self-preservation in an adult manner,
they have pointless, near-meaningless, politics & morality to get hysterical about.
It is more important to strike out in revenge against people who never did you an iota of harm & let yourselves be robbed blind by those claiming to be your leaders.
What can i say?
American religious freaks are crazy.
Religion parasites.
They thrash & spaz around trying to hurt others,
instead of settling down rationally & sanely to make their own lives better.
Stupidity is its own worst enemy,
especially over the long run.
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