Time Magazine Names President Bush 'Person of the Year'

[Giancarlo]

Originally posted by Kuciwalker




One becomes a left wing fanatic by believing the European economy is in better shape than the American?

There is one slight **** up here. It isn't. The American economy is actually growing way faster.

[Odin]

@ Fez for thinking he knows more about economics than a person with an degree in Economics.

[Imran Siddiqui]

Why are you laughing... that doesn't stop you .

[mrmitchell]

Originally posted by Giancarlo
From the way I see it.. you guys on the left are probably involved with this corruption.

Yes. You're right. I got a monthly check from Saddam for being a leftist.

Well, actually, he paid the money to the Democratic Party. But they handled splitting it amongst all the liberals of the US. We got a bonus if we voted, too.

The pay's been tight since Iraq was toppled, but Osama still has plenty of reserve funds. I'm saving my money for an XBOX.

[Giancarlo]

Originally posted by Odin
@ Fez for thinking he knows more about economics than a person with an degree in Economics.

Uh huh. Commies can't talk about economics.

Why is the US economy growing faster then the EU economy as a whole? Why is it the biggest economies in the EU sluggish? Why is the unemployment in these countries in the double digits? Why is it living costs have shot up in the EU past income growth (well the strong euro can explain that)? Why is it these countries like France have lost all power internationally and to be able to influence international politics?

[el freako]

Originally posted by Giancarlo


There is one slight **** up here. It isn't. The American economy is actually growing way faster.

At the moment, because it is furthur along in it's economic cycle (it entered recession 1st, it recovered 1st).

The US's population is also growing faster than the EU's, also there is the fact that European growth is understated relative to America's.

Using reported growth rates the EU15's GDP should have fallen from 100% of the US's in 1990 to 89% by 2002, however when it was actually measured in 2002 it was 95% of the US's.

So european growth is understated by around 0.5% a year (which is around the improvement that US growth showed when it switched to a different method of calculating inflation) - which means that at least half of the percieved gap in growth between the US and EU is due to measurement differences

Fez is correct that the US's total GDP is growing faster than the GDP of the member states of the EU (but remember we keep adding new members so our total GDP is rising faster than the US's) but the average income (which is what I was talking about) is growing faster in europe than it is in america.

By Fez's logic Nigeria has a more successful economy than America's (3.9% growth over the last 10 years compared to 3.3% for the US) even though it's average income growth has been much slower (1.0% for Nigeria compared with 2.2% for the US)

Again Giancarlo is guilty of only looking at data that will support his view and ignoring any inconvienent data that might refute it - the classic definition of a fanatic.

Originally posted by Giancarlo
Why is the US economy growing faster then the EU economy as a whole?

Aha, some reasoned questions that I can answer - see it pays to be an optimist

I have answered this above, I think you are getting confused between total output and output per person - see what I said about Nigeria.

Originally posted by Giancarlo
Why is it the biggest economies in the EU sluggish?

Partly because they are in a different stage in the economic cycle (they grew much faster than the US in 2001 for example), and partly because the biggest economies (Germany, France and Italy) have some of the highes per-captia incomes - much of the growth in the EU today comes from poorer countries (Spain, Ireland etc) catching up.
The same thing happened in the US when the south's growth outpaced the north.

Originally posted by Giancarlo
Why is the unemployment in these countries in the double digits?

It isn't, the only country in the EU15 with unemployment in double digits is Spain as you can see here

Originally posted by Giancarlo
Why is it living costs have shot up in the EU past income growth (well the strong euro can explain that)?

Again, they havn't - real incomes are still rising fairly well - indeed you show your ignorance of basic economics by assuming that the strengthening euro would contribute to this, whereas it would lower import costs leading to a decrease in living costs.
For example the price of oil has risen by only 10% in euro-terms since 2000 whereas it has risen by 50% in dollar terms.

Originally posted by Giancarlo
Why is it these countries like France have lost all power internationally and to be able to influence international politics?

I wouldn't say they've lost all power but their power is much diminished on what it was a century ago - however the EU's power has definately increased.
Who would have believed ten years ago that the US would be forced to change it's tax code by the EU?
Or that a merger between two american companies could be blocked by the EU's competition commison?

[Imran Siddiqui]

And the PWNage of Giancarlo continues.

[Giancarlo]

Originally posted by el freako


At the moment, because it is furthur along in it's economic cycle (it entered recession 1st, it recovered 1st).

The US's population is also growing faster than the EU's, also there is the fact that European growth is understated relative to America's.

Using reported growth rates the EU15's GDP should have fallen from 100% of the US's in 1990 to 89% by 2002, however when it was actually measured in 2002 it was 95% of the US's.

So european growth is understated by around 0.5% a year (which is around the improvement that US growth showed when it switched to a different method of calculating inflation) - which means that at least half of the percieved gap in growth between the US and EU is due to measurement differences

Fez is correct that the US's total GDP is growing faster than the GDP of the member states of the EU (but remember we keep adding new members so our total GDP is rising faster than the US's) but the average income (which is what I was talking about) is growing faster in europe than it is in america.

By Fez's logic Nigeria has a more successful economy than America's (3.9% growth over the last 10 years compared to 3.3% for the US) even though it's average income growth has been much slower (1.0% for Nigeria compared with 2.2% for the US)

Again Giancarlo is guilty of only looking at data that will support his view and ignoring any inconvienent data that might refute it - the classic definition of a fanatic.

Mozambique's economy has been more successful then America's but you have to take into account where it is starting from. Not really good points. Again you just got PWNED by me once again. You are a fanatic.

[el freako]

Originally posted by Giancarlo

Mozambique's economy has been more successful then America's but you have to take into account where it is starting from. Not really good points. Again you just got PWNED by me once again. You are a fanatic.

Ignoring your childish comments to the end of that post...

First off, please see my massive edit of my previous post

Well as no economies have the same total and per capita GDP as the US you have to start somewhere.

Can we agree on what we were talking about? - in my posts I always mentioned average income or income per head.

You seem to be talking about total GDP - I never denied that the US's total GDP grows faster than the combined GDP of the member states of the EU, however remember the addition of new members more than makes up for that - in 1990 the EC12 (as it was then) had 92% of the US's GDP, today the EU25 has 105%.

[Imran Siddiqui]

And Gian goes into a deeper hole .

[Ted Striker]

Giancarlo I can't believe you're both gay and so against leftists.

There the ones out there sticking up for your dumb ass.

[Giancarlo]

Originally posted by el freako


Ignoring your childish comments to the end of that post...

First off, please see my massive edit of my previous post

Well as no economies have the same total and per capita GDP as the US you have to start somewhere.

Can we agree on what we were talking about? - in my posts I always mentioned average income or income per head.

You seem to be talking about total GDP - I never denied that the US's total GDP grows faster than the combined GDP of the member states of the EU, however remember the addition of new members more than makes up for that - in 1990 the EC12 (as it was then) had 92% of the US's GDP, today the EU25 has 105%.

This argument has clearly backfired on you. You don't know what you are talking about. Total GDP? You can't add things up because it just doesn't work that way. The EU isn't a nation.

[Giancarlo]

Originally posted by Ted Striker
Giancarlo I can't believe you're both gay and so against leftists.

There the ones out there sticking up for your dumb ass.

You leftists don't stick up for me. I can do that myself. Most of my friends are moderates. They don't associate with left wing extremists.

[Tassadar500]

Not all right-wingers are religious fanatics.

[Giancarlo]

Originally posted by Imran Siddiqui


And Gian goes into a deeper hole .

No I dig a deeper hole for you to go in.

El Dumbo is citing so much crap without any links.