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Feb. 20, 2006 issue - Cartoons and riots made the headlines in Europe last week, but a far less fiery event, the publication of an academic study, might shed greater light on the future of the Continent. The Organization for Economic Co-operation and Development, headquartered in Paris, released a report, Going for Growth, that details economic prospects in the industrial world. It is 160 pages long and written in bland, cautious, scholarly prose. But the conclusion is clear—Europe is in deep trouble. These days we all talk about the rise of Asia and the challenge to America, but it might well turn out that the most consequential trend of the next decade will be the economic decline of Europe.
It's often noted that the European Union has a combined gross domestic product that is approximately the same as that of the United States. But the EU has 170 million more people. Its per capita GDP is 25 percent lower than that of the U.S. and, most important, that gap has been widening for 15 years. If present trends continue, the chief economist at the OECD argues, in 20 years the average U.S. citizen will be twice as rich as the average Frenchman or German. (Britain is an exception on most of these measures, lying somewhere between Continental Europe and the U.S.)...
Originally posted by Radekus
it's like 1929 again.
remember that economic crissis?
This time it's man made.
I wonder what kind of poverty striken world we're be living in...
Assuming an average return from the stock market, I'll have more than $2 million when I retire.
Originally posted by Zion Mainframe
Anyway, you Americans live to work, we work to live.
Originally posted by deltaboy
"We work to live?" So you have to assume that Americans are a bunch of mindless labor force born to work like machines are built for labor and not to enjoy life?
"Experts all around the world agree that these astronomical trade deficits are not sustainable and threaten to disrupt the US and global economies," Senate Democratic Leader Harry Reid said. "This Administration has ignored the problem and continues to pursue a trade policy that puts special interests above the interests of American families."
but steady, consistent investment will make almost anyone a millionaire by retirement in the US.
If you punish productive behavioUr and reward unproductive behavioUr, which do you think you’ll get more of?
Originally posted by devilwasp
Is money all you think about?
Originally posted by ElTiante
Only someone who never had to earn money would say something like that.
Our lives are finite. We expend a great portion of our lives in order to earn money. To take my money from me and give it to someone who didn’t earn it, is robbing me of my life and is immoral.
motorcycle (’00 CBR 600)
He moved to AZ and got married. He’s got a huge house right on the edge of the Tanto National Forrest (it’s a national park the size of Connecticut) two cars, a pickup, two quads and a giant RV.
He’s got more a bit more stuff, but I’ll retire sooner. That’s what happens when you keep your money, you can make choices.
Funny thing is, we do keep our money.
I know a guy who's 21 , earns over 28000 tax free every year for 3 months of work with 2 months off.
He keeps his money too but still lives in a welfare state.
You can keep you’re welfare state, I’ll keep my money. I guarantee I’ll be better off in the long run.
Others agree, that’s why they’ll brave 90 miles of the Atlantic ocean on inner tubes to get here, despite the fact they have “free” education and healthcare.
Well mate I dont care what you guarantee or what you say will happen, I dont respect you and therefore like most americans I dont respect I dont beleive a word you say.
Oh and BTW we do have FREE education and FREE healthcare, dont believe me fair enough I dont care.