Canadian dollar = US dollar

[Kitdy]

henk4, as for who is running the show, I think we all know it is the Americans, not the Europeans, Asians, or especially Canadians that is in command of the world economy - that will change as China and India develop however.

After investigating further, it seems as though that the European Union appears to have about the same GDP as the United States does. However, the EU is a loose group of associated countries while the US is one nation (I suppose it could be argued that each State in the US has significant power in it's own right however).

[henk4]

After investigating further, it seems as though that the European Union appears to have about the same GDP as the United States does. However, the EU is a loose group of associated countries while the US is one nation (I suppose it could be argued that each State in the US has significant power in it's own right however).

When I made my loose comment I was only looking at the exchange rate, which was introduced as the benchmark for "who is running the show"...I know that macro-economic realities are different.
But just imagine the price of our (European) oil imports/motorfuels, had the Euro stayed at the same low exchange rate.....

[Piacki_117]

After investigating further, it seems as though that the European Union appears to have about the same GDP as the United States does.

It's actually slitghly higher, even in PPP.

However, the EU is a loose group of associated countries while the US is one nation (I suppose it could be argued that each State in the US has significant power in it's own right however).

It's just a question of time...


By the way, we are far more than a simple group of associated countries :

The EU has a single market between member states with a common trade policy,[2] a Common Agricultural/Fisheries Policy, and a regional development policy. It introduced a common currency, the euro, which has been adopted by thirteen member states. Since 1993, the EU has developed a Common Foreign and Security Policy, and co-operation in police and judicial matters. Important EU institutions and bodies include the European Commission, the European Parliament, the Council of the European Union, the European Council, the European Court of Justice and the European Central Bank. Citizens of EU member states are also EU citizens and are allowed to elect the European Parliament directly every five years.

http://en.wikipedia.org/wiki/European_Union

[NSXType-R]

Boy this is depressing.

Yeah, the Euro is doing very good too.

Our economy sucks. They should get rid of sub-prime mortgages now.

It doesn't help. I don't see why the government doesn't do anything about it.