In 2005 Europe was at 7.23% and in 2007 at 12.22%, but, by 2009 it had tumbled drastically to -8.35%. That was negative -8.35%. That was a loss of 15.58% in two years. It is going to take awhile for Europe to improve. But, austerity is its worst enemy.
In that graph, the USA economy is far stronger than Europe's economy. The graph at the link above shows far less swings of highs and lows in the USA economy as compared to that of the Europeans. Europe is in a bubble and bust economy. We are setting up an economy of SUSTAINABILITY while weaning the 'bubble and bust' trends that cause all the damage. We are building our economy to withstand the future with far less escalations and troughs. It isn't easy, but, like stated in the beginning 'steady as it goes.' Growth is difficult when rebounding is swallowed up by hidden troughs.
This is not pure growth, it is growth in the face of losses. We are doing well.
April 27 (Bloomberg) -- European stocks and U.S. index futures rose (click here) as earnings at companies from Amazon.com Inc. to France's Vinci SA beat analysts' estimates, overshadowing lower- than-forecast growth in the American economy. The euro climbed versus the dollar. Treasuries were little changed.
Futures on the Standard & Poor's 500 Index expiring in June rose 0.3 percent at 9:14 a.m. in New York and the Stoxx Europe 600 Index was up 0.8 percent. The euro strengthened 0.3 percent to $1.3263. The yield on the 10-year Italian bond rose two basis points, paring an increase of as much as 13 basis points after a debt auction. Spanish bonds fell as the nation lost its A rating at S&P.
Amazon.com posted earnings-per-share that quadrupled the average analyst estimate, joining about three quarters of S&P 500 companies to exceed forecasts about halfway through the reporting season. The Commerce Department reported the U.S. economy grew at a 2.2 percent annual rate, below the 3 percent pace at the end of last year and the 2.5 percent median forecast of economists. The report showed a smaller contribution from inventories overshadowed higher consumer spending.
"The economy is not gangbusters, but the chance of a recession is dimming," Michael Mullaney, who helps manage $9.5 billion as chief investment officer at Fiduciary Trust in Boston, said in a telephone interview. "We're encouraged by the earnings surprises. We're not happy with today's GDP data, but it shows domestic spending being on track."...
There will be no double dip recession and that is saying something! We are DOING IT!
"The economy is not gangbusters, but the chance of a recession is dimming," Michael Mullaney, who helps manage $9.5 billion as chief investment officer at Fiduciary Trust in Boston, said in a telephone interview. "We're encouraged by the earnings surprises. We're not happy with today's GDP data, but it shows domestic spending being on track."...
There will be no double dip recession and that is saying something! We are DOING IT!
