Behind the U.S.'s Growth Lead Over Europe - WSJ.com
It may also be that a socialist collosus like Europe just pushes the entrepreneurial to leave.
When they leave (of course there are exceptions, but in general and relative terms), they aren't looking for loans or financing to build or expand business or to create jobs.
(Likewise, when Spanish unions don't want to loosen up their labor restrictions, jobs also stay away.)
So banks in Europe - even more so and for longer than in the US - have been buying government debt. They support socialist governments, but, these governments don't have economically sensible job creation policies. Thus, everything in Europe is going to lag.
Lots of Europe is run on the UAW model for economic development - and, everyone knows what happened to GM.
So, if anything can be said, it's that America is only part way to Obama's goal of instituting the full build out of the European's stultifying social and economic construct.
Friday, February 19, 2010
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