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Jesus. Look at those rates going back to the 80s. The only time Spain has had under 10% over at least the past 30 years is that brief period from 2005-2008. Is it because of the government? The culture of the people? Why Northern Europe would want to attach itself to a country such a mess as this one is beyond me.
It's culture. And government. At least Italy produces sports cars etc hightech, but Spain produces practically nothing. And look at Italy. All the high tech is in the Northern parts of the country, while the rest of Italy is just like Spain. There was a period of few years when EU handed Spain money to re-build their infrastructure, which they did, and it provided temporary relief (jobs) for a couple of years, but they always go back to their old ways. Well, at least they got nice roads now, thanks to the North European tax payers. Many North Europeans view Spain and Southern Italy more as a part of Africa than Europe.
Last edited by Finn_Jarber; 05-16-2014 at 07:44 AM..
We returned to our Pre Recession growth levels 3 years ago.
That is debatable. And don't forget, on July 1, 2013 you changed the way you calculate the GDP.
As a result, many of the recessions that occurred were wiped out, since the new method over-states GDP.
Quote:
Originally Posted by CravingMountains
Why is it so hard for Southern Europe to make jobs for its people?
It would take a 4 volume work to explain that. Suffice to say democracy is the primary culprit.
Quote:
Originally Posted by NorthStarDelight
If they were able to go back to drachmas and liras and pesetas, I think they'd be a whole lot better off.
Uh-huh....and I was paying $4/night for my beachfront hotel at Lloret de Mar sitting in Sgt Pepper's drinking double-shot Bloody Mary's for $0.06 each and chasing Welsh skirt, because why, exactly?
Remind me how many times Italy devalued the Lira?
When a State devalues its currency, it lops off zeros.....1 Million Lira becomes 100 Lira....that's because of Real Inflation.
PIGS --- Portugal, Italy, Greece and Spain have all been plagued by Real Inflation as their dictatorships tried to buy of the people with social welfare programs.
The governments are also corrupt to the core.
Since you've never lived, worked or partied in any of those States, you might want to actually research their economic histories.
Quote:
Originally Posted by CravingMountains
Why Northern Europe would want to attach itself to a country such a mess as this one is beyond me.
Grandiosity.
There's a North-South Dichotomy, plus within those States there's a North-South Dichotomy.
Southerly...
It doesn't makes sense to compare the GDP growth rates between the U.S. and the EU, because they use different methods to calculate them, e.g. hedonic regression.
In Dec 07, there were 146.3 Mio employees in the U.S. In Dec 13 there were 144.6 Mio employees in the U.S. In the same time the population has grown by 13 Mio peoples. The average income of an U.S. household is now about 2,500 US$ lower than it was before the crisis. Do you really believe that the GDP is today so much higher than it was 2007?
In Italy there were 22.9 Mio employees in 2007, in 2013 there were 22 Mio employees. The population was stable. The employment development in Italy wasn't worse than in the U.S.
GDP figures and growth rates don't tell the whole story.
LOL, Spain produces more cars than the U.K. or France for example. And Spain produce 3 times more cars than Italy. In spanish factories are twice as many robots installed than in the british manufacturing sector. The robot density in Spain is similiar to those in the U.S. Spain has more employees in the manufacturing sector per capita than the U.S.
OMG. The current GDP growth in the U.S. isn't sustainable. The FED only produces new bubbles. Rising real estate and asset prices leads to superficial GDP growth, but that's not sustainable. In a few years we will see the next crash and than the supposed increase in value will be disappear.
Do you really believe that printing money create real values?
But the banks have bounced back and are bigger than before and global derivatives are near $1 quadrillion.
The "great recession" was the "great redistribution" all over the world.
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