Decline of American Power?

Dennis Robert Redmond dredmond at efn.org
Fri Oct 11 23:38:03 PDT 2002


On Fri, 11 Oct 2002, Christian Gregory wrote:


> Even the WSJ admitted this. But growth for the last 3 years of 2, 2.9,
> and 0.6 hardly counts as stellar, and since Sept. of 2001,
> unemployment claims have been rising between 100 and 200k a month.

EU growth was respectable from 1997-2000 based on per capita GDP -- US rates look higher because of demographics.


> this change the bigger point? The EU hardly seems ready to take up the
> slack in world demand if the Euro strenghtens as the US and Japan
> tank.

Political will isn't the same thing as raw economic capacity. The EU could simply toss the Maastricht requirements on the scrapheap, or issue a ton of EIB debt, or tax the rich, or some combination thereof.

-- Dennis



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