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(World Review)   The Eurozone GDP is set to increase from -0.6 in 2012 to +1.4 in 2014, prompting optimism from EU politicians. Will the hundreds of thousands of unemployed kids be dancing in the streets over this? Doubtful   (worldreview.info) divider line 15
    More: Obvious, GDP, Europe, optimisms, eurozone, Eurostat, unemployment  
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239 clicks; posted to Business » on 15 Aug 2013 at 8:15 AM (47 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



15 Comments   (+0 »)
   
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2013-08-15 08:40:56 AM
You can't just conjure jobs out of thin air, you insufferable punks
 
2013-08-15 08:51:13 AM
I'll believe it when I see it.  Like most economic problems, it can be traced to artificially low interest rates causing a boom in credit.  In this situation, a common currency allowed countries to borrow well beyond their means, because the currency "tied" them to strong countries like Germany.  They were able to borrow large amounts of money to fund a large public sector or fuel a housing bubble.  These countries then used to the money to buy goods from the strong countries, like Germany, boosting that country's economy and strengthening the cycle.

When the credit bubble bursts, goodbye economy.  It appears that Europe is deciding against papering over the problems, whereas we (the US) are papering over the problems.  Europe is experiencing far more pain right now, but the US still has it coming.

Interesting times we live in.
 
2013-08-15 08:59:45 AM

MattStafford: I'll believe it when I see it.  Like most economic problems, it can be traced to artificially low interest rates causing a boom in credit.  In this situation, a common currency allowed countries to borrow well beyond their means, because the currency "tied" them to strong countries like Germany.  They were able to borrow large amounts of money to fund a large public sector or fuel a housing bubble.  These countries then used to the money to buy goods from the strong countries, like Germany, boosting that country's economy and strengthening the cycle.

When the credit bubble bursts, goodbye economy.  It appears that Europe is deciding against papering over the problems, whereas we (the US) are papering over the problems.  Europe is experiencing far more pain right now, but the US still has it coming.

Interesting times we live in.


Or be like Japan, suffer pain for 20 years, and then print paper.
 
2013-08-15 10:05:49 AM
The Eurozone had a negative GDP in 2012? That seems unlikely...
 
2013-08-15 10:59:39 AM
media.tumblr.com
 
2013-08-15 11:17:49 AM
http://www.hurriyetdailynews.com/eurozone-pulls-out-of-recession-with - surprise-03-percent-growth.aspx?pageID=238&nID=52525&NewsCatID=344

Weird article given that the number already shows that there is growth. Ie. stating that they find it doubtfull. Yeah, find it doubtfull in an article published after the growth numbers are published kinda makes you look stupid.

---

The youth won't be dancing in the streets though, because the growth is happening in the countries that aren't farked up to begin with. The growth in France was a positive surprise btw.
 
2013-08-15 11:19:51 AM
Oh strike that. Portugal with a 1.1% growth. :)
 
2013-08-15 01:46:37 PM
I'm sure EU unemployment will nosedive just as much as it has in the US...

Thank you Job CreatorsTM!
 
2013-08-15 02:02:50 PM

AngryDragon: I'm sure EU unemployment will nosedive just as much as it has in the US...

Thank you Job CreatorsTM!


You do realize our unemployment numbers have been better than theirs because we didn't go insane with Austerity at the start of our crisis right?
 
2013-08-15 02:51:58 PM

MattStafford: I'll believe it when I see it.  Like most economic problems, it can be traced to artificially low interest rates causing a boom in credit.  In this situation, a common currency allowed countries to borrow well beyond their means, because the currency "tied" them to strong countries like Germany.  They were able to borrow large amounts of money to fund a large public sector or fuel a housing bubble.  These countries then used to the money to buy goods from the strong countries, like Germany, boosting that country's economy and strengthening the cycle.

When the credit bubble bursts, goodbye economy.  It appears that Europe is deciding against papering over the problems, whereas we (the US) are papering over the problems.  Europe is experiencing far more pain right now, but the US still has it coming.

Interesting times we live in.


its not as cut and dry as you say it is.

in the case of Greece & Portugal, yes. But Spain and Ireland? Absolutely not. 

the latter two actually had large budget surpluses and low debt to gdp ratios right up until the middle of 2008. since the eurozone's creation, both countries outperformed Germany by leaps and bounds in compliance with the fiscal agreements. Heck, even Italy outperformed Germany in terms of annual budgetdeficits until 2007.
 
2013-08-15 05:16:53 PM

Harvey Manfrenjensenjen: [media.tumblr.com image 340x255]


media.heavy.com
 
2013-08-15 05:42:49 PM

dumbobruni: MattStafford: I'll believe it when I see it.  Like most economic problems, it can be traced to artificially low interest rates causing a boom in credit.  In this situation, a common currency allowed countries to borrow well beyond their means, because the currency "tied" them to strong countries like Germany.  They were able to borrow large amounts of money to fund a large public sector or fuel a housing bubble.  These countries then used to the money to buy goods from the strong countries, like Germany, boosting that country's economy and strengthening the cycle.

When the credit bubble bursts, goodbye economy.  It appears that Europe is deciding against papering over the problems, whereas we (the US) are papering over the problems.  Europe is experiencing far more pain right now, but the US still has it coming.

Interesting times we live in.

its not as cut and dry as you say it is.

in the case of Greece & Portugal, yes. But Spain and Ireland? Absolutely not. 

the latter two actually had large budget surpluses and low debt to gdp ratios right up until the middle of 2008. since the eurozone's creation, both countries outperformed Germany by leaps and bounds in compliance with the fiscal agreements. Heck, even Italy outperformed Germany in terms of annual budgetdeficits until 2007.


Italy's always been up there in GDP.  Who knew Ferraris and spaghetti could be so lucrative.
 
2013-08-15 08:26:58 PM
Austerity does not grow the economy, geniuses.
 
2013-08-15 11:07:37 PM

dumbobruni: MattStafford: I'll believe it when I see it.  Like most economic problems, it can be traced to artificially low interest rates causing a boom in credit.  In this situation, a common currency allowed countries to borrow well beyond their means, because the currency "tied" them to strong countries like Germany.  They were able to borrow large amounts of money to fund a large public sector or fuel a housing bubble.  These countries then used to the money to buy goods from the strong countries, like Germany, boosting that country's economy and strengthening the cycle.

When the credit bubble bursts, goodbye economy.  It appears that Europe is deciding against papering over the problems, whereas we (the US) are papering over the problems.  Europe is experiencing far more pain right now, but the US still has it coming.

Interesting times we live in.

its not as cut and dry as you say it is.

in the case of Greece & Portugal, yes. But Spain and Ireland? Absolutely not. 

the latter two actually had large budget surpluses and low debt to gdp ratios right up until the middle of 2008. since the eurozone's creation, both countries outperformed Germany by leaps and bounds in compliance with the fiscal agreements. Heck, even Italy outperformed Germany in terms of annual budgetdeficits until 2007.


Not just that. The low interest rates that started the problem were kept low to help out Germany after reunification. Remember when Germany used to be called "the sick man of Europe"?

That blew a real estate bubble, which the Germans participated in by the way.

And today you can predict European policy decisions by figuring out which choice keeps Deutschebank out of bankruptcy.
 
2013-08-16 01:11:52 PM

bronyaur1: Austerity does not grow the economy, geniuses.


Their other choice was bankruptcy.  It's not like it was puppies and roses when they chose austerity.
 
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