Surging US economy leads global recovery
From
The Guardian
We knew the economy was going well in the USA but a number of other countries seem to be going great guns as well too...
From the article:
bq. The US economy strengthened considerably in December, leading the global economic recovery and leaving Europe and Japan behind, the Organization of Economic Cooperation and Development (OECD) said today.
And more:
bq. Joseph Stiglitz, the Nobel-prize-winning economist - and a critic of US economic policy - predicted that Mr Snow would oppose any efforts by the G7 to counter the fall in the dollar. In interviews with the French media, Mr Stiglitz, a former chief economist at the World Bank, also called on the European Central Bank (ECB) to act to bring down the euro's strong exchange rate against the dollar.
bq. "The Bush administration will make no concession," Mr Stiglitz told the French business daily La Tribune, ahead of the meeting of G7 finance ministers and central bankers in Boca Raton, Florida. "George Bush needs the fall in the dollar to support American growth and to be re-elected,
even if that is to the detriment of Europe."
OK - let me get this straight... Mr. Stiglitz wants us to reign in our growth because otherwise it might hurt Europe?
How about if Europe got it's collective socialist noggins out of the sand and started bringing its economic practices into the current century. Getting the corruption and nepotism out of government might be a great place to start...
Posted by DaveH at February 6, 2004 1:39 PM