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EU is much bigger. Chuck in China and Japan, not to mention India, Russia, south america etc, it is surely a fraction of the world GDP and perhaps 1/20th of the world population.
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I think you've answered your own question there,Rob.You're comparing the rest of the world with one country.Population has nothing to do with it.
The difference is that Americans are the biggest consumers in the world - in more ways than one. They can never get enough stuff. They measure their relative status by their ability to consume. As such the US is the biggest market for EU/Chinese exports...so when they are unable to consume so much it has a knock-on effect.
I dont think i answered the question, dont think you did either.
quite a lot of economies have their currency linked to the dollar.
Surely they dont consume more food, cars, white goods, technology etc than the EU.
nearly every county rob
it is the world's primary reserve currency
it is the world's primary reserve currency
More disposable income in general. Take every large economy/market and say "how many have more than $200 a week to spend after bills", and they'll be top of the table. There's an economy of scale to having such a populous white country (for now anyway)
But in general it seems we just need economies to keep growing and growing, and that's the largest one at the moment, so when it sneezes...
But in general it seems we just need economies to keep growing and growing, and that's the largest one at the moment, so when it sneezes...
Not sure why you think the EU is 'much bigger', Rob?
http://countryeconomy.com/gdp
If you scroll halfway down that page you get a nice graphical comparison.
http://countryeconomy.com/gdp
If you scroll halfway down that page you get a nice graphical comparison.
B.llox to geography, i am talking population, france, germany, italy, UK and spain must between them at least equal USA.
Geography?
Gross domestic product (GDP) refers to the market value of all final goods and services produced in a country in a given period.
Gross domestic product (GDP) refers to the market value of all final goods and services produced in a country in a given period.
Annual GDP 2012 €Mill
US 12,643,680€
EU 9,483,797€
Annual GDP 2012 (Per capita)
US 40,200
EU 28,500
US 12,643,680€
EU 9,483,797€
Annual GDP 2012 (Per capita)
US 40,200
EU 28,500
borrowed from elsewhere
1. the USD is the world's reserve currency, YOUR bank, wherever it may be, holds most of it's reserves in USDs and with those reserves collapsing your bank(s) and currency wherever you are, collapses with it
2. ALL faith in fiat currencies, backed only by "faith in a promise", collapses the minute the USD collapses
3. the global financial system and FIRE economy collapses in an instant amid chaos
4. OIL is priced in USD's therefore you won't be able to obtain OIL trading USDs or any other "paper" any more
5. all other commodities are priced in USD's therefore commodities trading collapses
6. the FED, who backstopped every global toxic asset since March, 2007, and monetizes the USG deficits, just became insolvent
1. the USD is the world's reserve currency, YOUR bank, wherever it may be, holds most of it's reserves in USDs and with those reserves collapsing your bank(s) and currency wherever you are, collapses with it
2. ALL faith in fiat currencies, backed only by "faith in a promise", collapses the minute the USD collapses
3. the global financial system and FIRE economy collapses in an instant amid chaos
4. OIL is priced in USD's therefore you won't be able to obtain OIL trading USDs or any other "paper" any more
5. all other commodities are priced in USD's therefore commodities trading collapses
6. the FED, who backstopped every global toxic asset since March, 2007, and monetizes the USG deficits, just became insolvent
a bit more
If 1) and 2) happens chaos ensues, savings are lost, pensions are lost, workers in virtually all industries get laid off by the hundreds of thousands, the broad "economy" collapses, food and fuel shortages ensue, the government collapses and people are rioting in the streets. The collapse is not orderly and imagine this happening on a global scale. FIAT MONEY DIES RIGHT THERE AND THEN, it's not just "the value of one currency has plummeted".
Hyperinflation will occur in the final days/hours of the ensuing chaos and confusion as people will try to either acquire items in an attempt to preserve/save some of their wealth (gold, silver, collectible fine art) at any price, or food at any price. The problem will be that within the same period of the time any sellers of such items will quickly come to the realization that all paper money is worthless.
If 1) and 2) happens chaos ensues, savings are lost, pensions are lost, workers in virtually all industries get laid off by the hundreds of thousands, the broad "economy" collapses, food and fuel shortages ensue, the government collapses and people are rioting in the streets. The collapse is not orderly and imagine this happening on a global scale. FIAT MONEY DIES RIGHT THERE AND THEN, it's not just "the value of one currency has plummeted".
Hyperinflation will occur in the final days/hours of the ensuing chaos and confusion as people will try to either acquire items in an attempt to preserve/save some of their wealth (gold, silver, collectible fine art) at any price, or food at any price. The problem will be that within the same period of the time any sellers of such items will quickly come to the realization that all paper money is worthless.
The reason the US economy has been so important is because the US for the last 200years,and certainly in the 20c
has been the smartest, most inventive, powerful and creative societies the world has ever seen.
That is why, the 20 century was the American century
has been the smartest, most inventive, powerful and creative societies the world has ever seen.
That is why, the 20 century was the American century
FFS lfc you really love the feckin US. Never a thread goes by without you getting that line in. Do you get paid?
sorry its just i don`t like the constant anti americanism,its everywhere and i like Bruce Springsteen and Louis Armstrong.
The only thing that stopped the present worldwide economic problems from happening
30 years earlier was the genius of a few young men in california.
The arrival of the computer industry stalled the inevitable, but only until now.
It will need something similar to change the economy now.
30 years earlier was the genius of a few young men in california.
The arrival of the computer industry stalled the inevitable, but only until now.
It will need something similar to change the economy now.
And you don´t think there is any reason for the anti-Americanism? America might be responsible for much of our culture today but that is not what spawns anti American feelings. Do you have any knowledge at all about US foreign policy since WWII?
And re your comments about the arrival of computers, it could just as equally be argued that by enabling the movement in seconds of trillions of dollars of capital, and by making it possible to conduct financial transactions in real time with anyone on the planet, computers were actually responsible indirectly for the financial crashes...
And re your comments about the arrival of computers, it could just as equally be argued that by enabling the movement in seconds of trillions of dollars of capital, and by making it possible to conduct financial transactions in real time with anyone on the planet, computers were actually responsible indirectly for the financial crashes...
the yanks didn't invent computers nor are they solely responsible for their development, albeit they've played a huge part in their development.
The 'internet' and the microprocessor were definitely their two biggest contributions. But the Brits invented the first programmable computer, packet switching (essential for the 'net), the world wide web etc.
anyways, the whole yanks good/bad thing is old. they feather their own nest, just like every other country.
The 'internet' and the microprocessor were definitely their two biggest contributions. But the Brits invented the first programmable computer, packet switching (essential for the 'net), the world wide web etc.
anyways, the whole yanks good/bad thing is old. they feather their own nest, just like every other country.
There was an interview where Warren Buffett was saying he'd always invest in USA and they should always have an AAA+ rating because all their debt is in $'s
"I can go out drinking all night, but if I've got a printing press, my debt is good," says Buffett.
"I can go out drinking all night, but if I've got a printing press, my debt is good," says Buffett.
because as single political entities go, it's still way the biggest economy in the world. GDP is twice the size of china's, and in terms of consumption the discrepancy's far far greater:
http://en.wikipedia.org/wiki/List_of_largest_consumer_markets
it's also the world's biggest debtor nation, and its willingness and ability to service that debt is absolutely key economic stability. and the dollar is still the world's reserve currency.
http://en.wikipedia.org/wiki/List_of_largest_consumer_markets
it's also the world's biggest debtor nation, and its willingness and ability to service that debt is absolutely key economic stability. and the dollar is still the world's reserve currency.
Ozy...
This link has EU on top
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
Though I am surprised it is so close. Guess it would be a bigger win if you took europe and not EU
This link has EU on top
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
Though I am surprised it is so close. Guess it would be a bigger win if you took europe and not EU
lfc1971 31 Oct 13 21:22 Joined: 06 Nov 11 | Topic/replies: 2,740 | Blogger: lfc1971's blog
The reason the US economy has been so important is because the US for the last 200years,and certainly in the 20c
has been the smartest, most inventive, powerful and creative societies the world has ever seen.
That is why, the 20 century was the American century
The smartest country in the world has 30 million US citizens on food tokens, and brought spending to a virtual standstill recently, spend trillions on illegal wars and achieved what? yet more hate and yet more threats to the country, that doesn't seem so smart to me.
Do you have any knowledge at all about US foreign policy since WWII?
Speaking of WWII, they vastly overplay thei?r role in defeating Nazism, the Russians lost 25 million soldiers, the Americans 400,000+, where were for the first 2 years whilst Poland was being invaded
anyways, the whole yanks good/bad thing is old. they feather their own nest, just like every other country.
The American's believe in American Exceptionalism,they reference this on a frequent basis, no other country claims to be so exceptional and different in such an over bearing manner, why say God Bless America at the end of every speech - surely if you are religious then you believe God created everyone equally thus meaning God Bless everyone would be more appropriate, are we inferior because we wasn't born in a country where history is a drop in the ocean compared to how rich deep and wide ours is? where the Native Red Indian were obliterated to the point of extinction? I'm not Anti American but they think their something special.
But they have given a lot to the world in music, films and technological innovation for which we can all be grateful, but a little bit of modesty wouldn't go amiss :)
The reason the US economy has been so important is because the US for the last 200years,and certainly in the 20c
has been the smartest, most inventive, powerful and creative societies the world has ever seen.
That is why, the 20 century was the American century
The smartest country in the world has 30 million US citizens on food tokens, and brought spending to a virtual standstill recently, spend trillions on illegal wars and achieved what? yet more hate and yet more threats to the country, that doesn't seem so smart to me.
Do you have any knowledge at all about US foreign policy since WWII?
Speaking of WWII, they vastly overplay thei?r role in defeating Nazism, the Russians lost 25 million soldiers, the Americans 400,000+, where were for the first 2 years whilst Poland was being invaded
anyways, the whole yanks good/bad thing is old. they feather their own nest, just like every other country.
The American's believe in American Exceptionalism,they reference this on a frequent basis, no other country claims to be so exceptional and different in such an over bearing manner, why say God Bless America at the end of every speech - surely if you are religious then you believe God created everyone equally thus meaning God Bless everyone would be more appropriate, are we inferior because we wasn't born in a country where history is a drop in the ocean compared to how rich deep and wide ours is? where the Native Red Indian were obliterated to the point of extinction? I'm not Anti American but they think their something special.
But they have given a lot to the world in music, films and technological innovation for which we can all be grateful, but a little bit of modesty wouldn't go amiss :)
By the end of WW2 two out of every three vehicles in the Russian armed forces had been built in the West, mostly in Detroit. America also sent 2,000 locomotives, 540,000 tons of rails and 13 million pairs of boots.
The US won WW2. Without them we might still be fighting in Eurasia to this day.
I suppose they could have followed the Soviet tactic of clearing minefields by sending men across at gunpoint, but they found their population could be more usefully employed being extraordinarily innovative and productive.
Which I think is why every commodity in the world is priced in US dollars - ultimately its value is still determined by the use to which Americans can put it, even if that use these days often involves indirectly paying someone in China or Bangladesh $2/day to make an item.
The US won WW2. Without them we might still be fighting in Eurasia to this day.
I suppose they could have followed the Soviet tactic of clearing minefields by sending men across at gunpoint, but they found their population could be more usefully employed being extraordinarily innovative and productive.
Which I think is why every commodity in the world is priced in US dollars - ultimately its value is still determined by the use to which Americans can put it, even if that use these days often involves indirectly paying someone in China or Bangladesh $2/day to make an item.
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