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      06-01-2008, 06:30 AM   #1
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Has the US fallen behind under Bush?

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Europe 'needs 75 years' to catch US

By Ambrose Evans-Pritchard
Last Updated: 12:11am GMT 12/03/2005

The Association of European Chambers of Commerce in Brussels warned that the transatlantic gap had widened yet further in the past five years by all key measures, despite the pledge by EU leaders at the 2000 Lisbon summit to transform Europe into the world's "most dynamic knowledge-based economy" by the end of the decade.

The EU-wide umbrella group, known asEurochambres said the EU's overall employment rate was still stuck at levels attained by the United States in 1978, chiefly due to an incentive structure that discourages women from working and prompts early retirement by those in their fifties.

It found that the European Union's research and development levels were achieved by America as long ago as 1979, while the lag time on per capita income is 18 years.
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"It will take the EU until 2072 to reach US levels of income per capita, and then only if the EU income growth exceeds that of the US by 0.5pc," the study said.

...
What was that about the President destroying our economy while the rest of the world grew stronger?
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      06-01-2008, 08:33 AM   #2
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Originally Posted by ganeil View Post
What was that about the President destroying our economy while the rest of the world grew stronger?
Your propaganda reading will get you nowhere -- you need to travel to places and see for yourself. Of course -- you missed it on the before situation in those places.
Some of us lived in Europe before and visit it every year. Also, we lived here for the past 20 years...

THe comparison is obvious...

Your little article compares numbers -- not how those numbers are applied to every day's lives... Big difference...
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      06-01-2008, 10:35 AM   #3
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      06-01-2008, 12:55 PM   #4
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Quote:
Originally Posted by dr325i View Post
Your propaganda reading will get you nowhere -- you need to travel to places and see for yourself. Of course -- you missed it on the before situation in those places.
Some of us lived in Europe before and visit it every year. Also, we lived here for the past 20 years...

THe comparison is obvious...

Your little article compares numbers -- not how those numbers are applied to every day's lives... Big difference...
+1. To the OP, you can't believe everything you read. 90% of media is heavily biased. It is no secret that we are in recession now, and that has come around since 2001. Why do you think the dollar is so weak when you travel anywhere other than Central America? It's not because of Bush's booming economy.
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      06-01-2008, 12:58 PM   #5
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Originally Posted by MontegoblueE92 View Post
+1. To the OP, you can't believe everything you read. 90% of media is heavily biased. It is no secret that we are in recession now, and that has come around since 2001. Why do you think the dollar is so weak when you travel anywhere other than Central America? It's not because of Bush's booming economy.
And I don't blame Bush for the current economy state -- I will blame him for the future state when we start feeling the effects of mad and useless spending (read our children's future...). By then, he will blame it on someone else...
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      06-01-2008, 02:17 PM   #6
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Originally Posted by MontegoblueE92 View Post
+1. To the OP, you can't believe everything you read. 90% of media is heavily biased. It is no secret that we are in recession now, and that has come around since 2001. Why do you think the dollar is so weak when you travel anywhere other than Central America? It's not because of Bush's booming economy.
So your contention is that the Association of European Chambers of Commerce is biased toward the US? That the UK Daily Telegraph is a pro-US paper?

The dollar is currently weak, much too weak for my tastes but that is not the entire measure of an economy. There is dispute that we are in a recession right now, the economy has slowed but not necessarily to recessionary level.
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      06-01-2008, 03:08 PM   #7
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Needles war in Iraq, outing secret CIA agent, $4+/gal gas...Dub is incompetent, his supporters are narrow-minded, far-right, brainwashed neo-cons demonstrating ultimate cognitive dissonance...
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      06-01-2008, 03:41 PM   #8
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look at how much we're selling abroad..be nice if some of us study econ 101.
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      06-01-2008, 04:00 PM   #9
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Originally Posted by Solonng View Post
look at how much we're selling abroad..be nice if some of us study econ 101.
Why do you keep shooting yourself in the foot with those stupid statements???
We've never had higher deficit in the history, you're preaching about the economy 101 and great sales abroad...

The current economy is in a very SAD state (about to fall in recession) and artificially just barely staying above recession. Once it dips -- God help the financially drained country. Who drained it -- Bush and his crooks -- no one else. Will it be felt while he's in the WH -- most likely not, therefore, draw your conclusions...

Other parts of the world feel the economic downturn -- I just got back from Europe, and they all talk about it. However, there is not nearl as much concern as we have it here.
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      06-01-2008, 04:28 PM   #10
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Originally Posted by dr325i View Post
Why do you keep shooting yourself in the foot with those stupid statements???
We've never had higher deficit in the history, you're preaching about the economy 101 and great sales abroad...

The current economy is in a very SAD state (about to fall in recession) and artificially just barely staying above recession. Once it dips -- God help the financially drained country. Who drained it -- Bush and his crooks -- no one else. Will it be felt while he's in the WH -- most likely not, therefore, draw your conclusions...

Other parts of the world feel the economic downturn -- I just got back from Europe, and they all talk about it. However, there is not nearl as much concern as we have it here.
you're a dumbass. period.
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      06-01-2008, 04:31 PM   #11
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Quote:
Originally Posted by dr325i View Post
Why do you keep shooting yourself in the foot with those stupid statements???
We've never had higher deficit in the history, you're preaching about the economy 101 and great sales abroad...

The current economy is in a very SAD state (about to fall in recession) and artificially just barely staying above recession. Once it dips -- God help the financially drained country. Who drained it -- Bush and his crooks -- no one else. Will it be felt while he's in the WH -- most likely not, therefore, draw your conclusions...

Other parts of the world feel the economic downturn -- I just got back from Europe, and they all talk about it. However, there is not nearl as much concern as we have it here.

do you even understand economic cycles? how many recessions have we had in this country already? they come and go buddy. you act as if we're going to die or something. in terms of europe, they should be more concerned since the euros are way overvalued.
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      06-01-2008, 04:41 PM   #12
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if you and ever other liberals believe that we're in a recession or heading toward one, then yeah we will go into a recession. last week initial claims did not show that we're in a recession. omg we're going die...lets all jump off the cliff.
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      06-01-2008, 05:08 PM   #13
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Originally Posted by MontegoblueE92 View Post
+1. To the OP, you can't believe everything you read. 90% of media is heavily biased. It is no secret that we are in recession now, and that has come around since 2001. Why do you think the dollar is so weak when you travel anywhere other than Central America? It's not because of Bush's booming economy.
No, we aren't in a recession. The numbers aka facts disagree with that assertation.
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shit, if i had that kind of money id buy a gtstreet for monday, an ascari a10 for tuesday, a DBS for wednesday and id just ride jessica alba the rest of the week.
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      06-01-2008, 05:27 PM   #14
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Originally Posted by Solonng View Post
do you even understand economic cycles? how many recessions have we had in this country already? they come and go buddy. you act as if we're going to die or something. in terms of europe, they should be more concerned since the euros are way overvalued.
again, you TRY to sound smart, but end up stupid...

Did I ever say anything against the current cycle of the economy. Over and over,, stop embarrassing yourself and use your little chicken brain before replying...

And how's Euro overvalued...just to say something (as usual -- dumb...)
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      06-01-2008, 05:29 PM   #15
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if you and ever other liberals believe that we're in a recession or heading toward one, then yeah we will go into a recession. last week initial claims did not show that we're in a recession. omg we're going die...lets all jump off the cliff.
Just the post above -- you accepted it as a normal cycle and confirmed we're cycling that way -- now the opposite.
Make up your...mind or that space in your head...
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      06-01-2008, 06:38 PM   #16
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Just the post above -- you accepted it as a normal cycle and confirmed we're cycling that way -- now the opposite.
Make up your...mind or that space in your head...
awww...thank you..you're so cute!
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      06-01-2008, 06:39 PM   #17
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lol, its so cool to piss off a liberal from my home computer!
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      06-01-2008, 11:46 PM   #18
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What is with you Bushies? Are you that dumb? GOP shits on your head and you say thanks for the hat!! Why such need to belong to one party of crooks and attack the other?

You are Joe Shmoe just like the rest of us. We've been lied to and robbed blind, and you defend the crooks. Wake the fuck up.
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      06-01-2008, 11:51 PM   #19
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Originally Posted by Solonng View Post
do you even understand economic cycles? how many recessions have we had in this country already? they come and go buddy. you act as if we're going to die or something. in terms of europe, they should be more concerned since the euros are way overvalued.
So you admit that we are in recession? Right? Right.

Now go watch Fix News.
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      06-02-2008, 09:43 AM   #20
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June 2 (Bloomberg) -- With President George W. Bush's popularity fluctuating between that of a mosquito and a root canal, some Democrats inside the Beltway are beginning to express extreme optimism. Democratic victories in November, so the story goes, may be so large that sweeping policy changes will be possible in 2009.

A look at the latest Senate energy bill suggests how fundamentally perilous such an outcome would be for the U.S.

The centerpiece of the ``Consumers First Energy Act'' is a 25 percent windfall-profits tax on oil companies. According to a May 7 press release from the Democrats, the measure would ``force big oil to pay their fair share.''

Given how large oil company profits are right now, and how expensive gasoline has become, it is easy to be jealous and resentful. But those emotions don't provide sound policy justifications. In life, when you act while your emotions are hot, you inevitably regret it.

The same is true in policy. Still, that the Democrats would even propose such a thing as a windfall-profits tax is fundamentally unnerving. The proposal raises big red flags.

The first is that it undermines the rule of law and discourages future investment by all entrepreneurs, not just oilmen. This problem is well-known in economic circles.

Politicians always have a temptation to promise companies that tax rates will be modest, and then switch these rules once the companies start to make money. Since the switch occurs after the firms set up their factory or oil well, then one might think it will do no harm. After all, the companies aren't going to stop operating.

Dishonest Partner

But the double-cross will signal to all would-be new investors that they are playing with a dishonest government partner. If their business becomes highly profitable, every businessman's dream, then the government is going to change the rules. This year it is oilmen; last year it was private-equity firms. Next year, it could be you.

The second red flag is raised by a special condition applied to the windfall-profits tax. Quoting again from the Democratic press release: ``This provision would not apply to the profits those companies reinvested in clean, affordable, domestically produced renewable fuels, expanding refinery capacity and utilization, or renewable electricity production.''

In other words, if oil companies invest in alternative energy, then those investments will shield their profits from the tax.

Government Hubris

This type of micromanagement of corporate activity smacks of hubris. To the extent that oil companies aren't investing to the Democrats' satisfaction in alternative fuels, they are doing so because they have either decided that such investments aren't economically promising, or because they don't feel they have a sufficient comparative advantage over other types of firms (chemical companies, for example) that might better make those investments.

If this policy achieves its desired objectives, then it will induce firms to take on activities that haven't passed a market test. That can't be a good idea.

The micromanagement also reflects a logical inconsistency. Lifting windfall-tax rates with bait-and-switch tax policy can only be defended as a revenue raiser if firms don't respond rationally to incentives.

Yet the special provision exempting profits invested in pursuit of alternative fuels only works if firms respond to incentives. Both measures taken together only make sense if firms respond to the provisions Democrats want them to respond to, but don't respond to the provisions Democrats don't want them to respond to.

Economic Illiterates

Goodness. Can anyone really be that naive to think the companies won't respond to the windfall-profits tax but will respond to the alternative-fuel incentives?

The scariest part of all of this is the thumbnail sketch that emerges of any politician who would propose such madness. He would have to be an economic illiterate, unable or unwilling to think through complexities, or to accept the notion that policies can have unintended consequences. He must also be a panglossian optimist about the effectiveness of government intervention.

Such a person would be capable of proposing just about anything without surprising us much.

Consider the Possibilities

He could increase marginal tax rates on everyone, since he would reason that work incentives don't affect labor supply. He could lift the minimum wage by $5 or $10, because he wouldn't expect employers to respond by cutting jobs. He could raise corporate tax rates, because he wouldn't think companies will choose to locate their manufacturing in lower-tax countries. He might even propose strict limits on hamburger consumption, because he knows better than you do what your diet should be.

Perhaps it is true that nobody could be that crazy, and that any administration will eventually allow economists into the policy-making process. Maybe so, but I would feel a lot better if those economists could have an influence during the election cycle.

(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in his bid for the 2008 presidential nomination. The opinions expressed are his own.)

To contact the writer of this column: Kevin Hassett at khassett
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      06-02-2008, 09:44 AM   #21
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So you admit that we are in recession? Right? Right.

Now go watch Fix News.
you tell me genius!
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      06-05-2008, 12:47 PM   #22
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The stock market generally performs better under a Democratic administration.

Thus, I vote democratic.
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