I am a regular "Joe" may be not a plumber but a regular average next door guy who is concerned with USA economy. Currently underemployed and with a $ 250 000 in student loans and with a bankruptcy filed not long time ago my passion for the state of the economy arouse ... My purpose is to gather information from different journals and or blogs and help those fellows americans interested in the economy have a broader perception of what really is happening.
Here is the problem EU is facing: Germany relies on exports in order to move its economy (the same does china), the wages in germany are much lower than the rest of the union...This emphasis on selling german products abroad plus "cheap" labor has forced other countries in the EU to compete against germany...now we have to add to this the fact that these other countries (portugal. greece, spain and ireland were spending like crazy -something like is happening here in the USA)...Germany doesnt want to let go on its competitive advantage and wants to force southern european countries (spain,italy,irleand,greece and portugal) to do something similar and wants to change the rules: those that dont comply with the EMU should be expelled...as you can see this a high debt plus strife competition against germany has prompted a possible chaos...how is going to end? once again lets wait till april 20 to may and we might start having an idea...hows this affect usa? to be seen
Here is the problem EU is facing: Germany relies on exports in order to move its economy (the same does china), the wages in germany are much lower than the rest of the union...This emphasis on selling german products abroad plus "cheap" labor has forced other countries in the EU to compete against germany...now we have to add to this the fact that these other countries (portugal. greece, spain and ireland were spending like crazy -something like is happening here in the USA)...Germany doesnt want to let go on its competitive advantage and wants to force southern european countries (spain,italy,irleand,greece and portugal) to do something similar and wants to change the rules: those that dont comply with the EMU should be expelled...as you can see this a high debt plus strife competition against germany has prompted a possible chaos...how is going to end? once again lets wait till april 20 to may and we might start having an idea...hows this affect usa? to be seen
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