Originally Posted by koler
America has no welfare system? you obviously don't live in america. Americans take quite a bit of there weekly salary and stow it into systems like welfare and social security. I don't pretend to know how the European Economy works, and I don't need to know how it works to know that the entire european union combined economy falls short of the united states power. Stick that in your pipe and smoke it.
That was I mistake and I hope you can forgive me, I proceed to correct it.
America has of course a welfare system. In Europe, the welfare system is, I think, better and more complete.
Now, Koler, thanks a lot for the data, that was simply a great job you did bringing the numbers. We will now analyze some them if you don't mind. And by analyze I do not mean "debunk". The data you provided is solid and uncontestable. But let's look at it.
First of all, a comment from redcar
well now in fairness to the EU, the Euro is doing far better than the US Dollar on the curreny markets, and in comparison to the British Pound the Dollar is pityful. which gives a very good visible indication of the economic strenght of the European Union.
No, in fact I must disagree, it does not. The values of currencies are not absolutes, but relative to each other. So it is not necessarily good if a currency has "more value". What is good is that the value of a currency remains stable for a long time. That makes traders trust that currency and use it as "common money" for international transactions. Transactions between, say, Poland and Thailand happen in dollars, because of that reason.
Inflation rate (consumer prices)
European Union 2.20
United States 3.20
That is also not a good indicator. Thanks to news reports we tend to considerate that inflation is always bad. That is not the case. A low but stable inflation rate (see examples provided by koler) is a signal of thriving economy. To knom more, read a book called "The Accidental theorist" by Paul Krugman, a fascinating insight in Economy.
United States 5.10
European Union 9.40
A great problem to tacke, no doubt.
United States $ 1,727,000,000,000
European Union $ 1,402,000,000,000
Importing more is not a good thing, I believe.
Note as well that three of those statistics, though true, carry no real meaning, when applying to this discussion.
Anyway, I would like to clarify the point of the opinions I expressed about European economy.
I am not discussing the economic power
of the United States. That is not in discussion, the United States has an overwhelming superiority in that, why deny it? (Military as well, but if you ask me, every bank note spent in the military is as good as used as toilet paper.)
I am discussing the meaning of the economic structures behind what I explained. Personally I advice you all to take economy not as cyphers and statistics, but as something that has an impact on your life and that of your fellow man.
I think that, from what I explained at the beggining, if there was such an indicator as "quality of life" (which cannot be measured, being as it is subjective) it would be higher in Europe.
One little example, apart from what I said about welfare: I am a professional translator. I translate US job contracts (among many other things of course) into Spanish. Every time any European sees one of my translations, they ask me if it is a joke. Why?
Because, for example, US contracts do not contain the idea of sickness leave. If you get sick you can use your week of vacations or you can lose pay, eventually getting fired.
Come on, guys, that happened during the Industrial Revolution!
That is just one piece of data.
Anyway... Koler, as I said, your points are all valid, but I also hope you understand (not necessarily share) mines.