Listen people, I don’t want to hear any nonsense about how bad it is over here until you start hearing the suck that is Euroland. I mean seriously. (Yes, we are aware that we vacillate between Eurosuck and Eurorule at the whim of the gusty winds of the press- you must see our fickleness as satire to fully understand the veins of humor that run through our lean flesh).
The euro area is falling into such a deep hole that the recovery, when it eventually comes, will be a long, hard journey. Figures released on Friday May 15th showed that GDP in the 16-country currency zone fell by 2.5% in the first quarter, an annualised rate of some 10%, far worse than many analysts had feared. Germany, the largest economy in the group, fell even harder: its GDP shrank by 3.8% in the three months to March and has plunged by almost 7% since its recession began a year ago. Italy’s GDP fell by 2.4% in the quarter; Spain’s by 1.8%. The 1.2% fall in France, large by any normal standards, almost counts as a boom.
The euro-area economy is slumping faster than most had feared [The Economist]
If only you could see the look of utter shock on my face right now…
jesus christ the harpy bitch on cnbc is insufferable.
Euro Bankers forgot to oil their abacuses ( or is it abaci) and couldn’t get their balance sheets properly transcribed by hand, making them much slower to respond than their American counterparts. Coupled with the jam in their ticker tapes and there was just no hope for the Euro banks to compete with Boone & Co. and Government Sachs.
So are you saying that the Obama Administrations 3.5% growth isn’t going to happen?
I am stunned, simply stunnted. Shocked and dismayed! Oh the humanity!
So are you saying that the Obama Administrations 4th quarter 3.5% growth isn’t going to happen?
I am stunned, simply stunnted. Shocked and dismayed! Oh the humanity!
But the Times had such an uplifting piece about how Socialist Norway has skirted all of this nonsense and still hands out $1500 checks to heroin addicts….
@2,3… God she is so terrible. Hopefully next stop for her is Democratic strategist porn with small-headed Keith from the previous segment.
@7 Norway (And Sweden, Denmark and the UK) are not part of the Eurozone countries. The situation is fluid in those countries.
It’s amusing that countries that sat out the boom are suffering more than those who took part. Perhaps sinning isn’t bad, as long as it’s done in moderation?
While the global economic crisis has taken a toll on every nation, the countries that scored at the top still boast some of the highest gross domestic product per capita in the world. Denmark, which got the highest score, is not only a wealthy country, it’s also highly productive, with a 2009 GDP per capita of $68,000, according to the International Monetary Fund. The United States’ GDP per capita, by contrast, is $47,335. Though the U.S. got an above-average score of 74, it did not break the top 10.
http://abcnews.go.com/Business/Economy/story?id=7585729&page=1
@10 That’s because Hamlet killed everyone in Denmark and left the country with a working population of 2, including the grave digger.
Anybody want to buy some green shoots? I’ve got green shoots for sale!! Come and get some green shoots!
@11 Don’t forget Carlsberg … or is he the other one?
@10 – Stop making stuff up.
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
@7 Remember that in Norway, “Socialist” = “We have oil&gas money to pay for everything”
http://ocde.p4.siteinternet.com/publications/doifiles/812009011P1G006.xls
@7 Remember that in Norway, “Socialist” = “We have oil&gas money to pay for everything”. Ask the rest Europe how socialist Statoil really is
Remember the the US is socialist. You have no money to pay for anything yet you continue to borrow money you can never repay and pour it into a corrupt banking industry black whole.
Please explain to me why that is better ?
Remember that the US is socialist. You have no money to pay for anything yet you continue to borrow money you can never repay and pour it into a corrupt banking industry black whole.
Please explain to me why that is better ?
It has now become accepted wisdom in the US, that financial fraud is the solution to the financial crisis.
The rest of the world is laughing at you.
Sometimes you need to fight fire with fire you know!
Update on the article…
http://www.telegraph.co.uk/finance/economics/5331129/Europe-in-deepest-recession-since-War-as-Germany-suffers.html
Where’s the f’n “green shoots” crowd when we need them? Didn’t they tell TGFD the f’n thing was supposed to be over?
The Guy from Delaware