Adding another Ted Kennedy to the mix...

[tinosa.livejournal.com]

Comments

[ceejayoz.livejournal.com]

Europe being in the water would make a lot more sense if the US dollar wasn't tanking against the Euro... heh.

[wyzwun.livejournal.com]

That's like saying that it would make more sense if Europe didn't have good food. That's not the point of the cartoon.

[disturbed-kiwi.livejournal.com]

Why is Europe already dead in the water? Because they have a welfare system? Because Ted wants to follow them?

I don't get it.

[ceejayoz.livejournal.com]

The point of the cartoon seems to be that Europe is dead in the water, and that the US is following quickly, and that the reason is that we're becoming a welfare state.

The point doesn't have much oomph when the people we're following have a better economy right now.

you gotta be kidding right?!

[tinosa.livejournal.com]

Germany's affluent and technologically powerful economy has turned in a weak performance throughout much of the 1990s and early 2000s. The modernization and integration of the eastern German economy continues to be a costly long-term problem, with annual transfers from west to east amounting to roughly $70 billion. Germany's ageing population, combined with high unemployment, has pushed social security outlays to a level exceeding contributions from workers. Structural rigidities in the labor market - including strict regulations on laying off workers and the setting of wages on a national basis - have made unemployment a chronic problem. Growth in 2002 and 2003 fell short of 1%. Corporate restructuring and growing capital markets are setting the foundations that could allow Germany to meet the long-term challenges of European economic integration and globalization, particularly if labor market rigidities are further addressed. In the short run, however, the fall in government revenues and the rise in expenditures have raised the deficit above the EU's 3% debt limit.

you gotta be kidding right?!

[tinosa.livejournal.com]

Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less developed, welfare-dependent agricultural south, with 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates. The current government has enacted numerous short-term reforms aimed at improving competitiveness and long-term growth. Italy has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and over-generous pension system, because of the current economic slowdown and opposition from labor unions.

you gotta be kidding right?!

[tinosa.livejournal.com]

France is in the midst of transition, from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The Socialist-led government has partially or fully privatized many large companies, banks, and insurers, but still retains controlling stakes in several leading firms, including Air France, France Telecom, Renault, and Thales, and remains dominant in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. The current government has lowered income taxes and introduced measures to boost employment. At the end of 2002 the government was focusing on the problems of the high cost of labor and labor market inflexibility resulting from the 35-hour workweek and restrictions on lay-offs. The government was also pushing for pension reforms and simplification of administrative procedures. The tax burden remains one of the highest in Europe. The current economic slowdown and inflexible budget items have pushed the deficit above the EU's 3% debt limit. Business investment remains listless because of low rates of capital utilization, high debt, and the steep cost of capital.

you gotta be kidding right?!

[tinosa.livejournal.com]

The UK, a leading trading power and financial center, is one of the quartet of trillion dollar economies of Western Europe. Over the past two decades the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with only 1% of the labor force. The UK has large coal, natural gas, and oil reserves; primary energy production accounts for 10% of GDP, one of the highest shares of any industrial nation. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. GDP growth slipped in 2001-03 as the global downturn, the high value of the pound, and the bursting of the "new economy" bubble hurt manufacturing and exports. Still, the economy is one of the strongest in Europe; inflation, interest rates, and unemployment remain low. The relatively good economic performance has complicated the BLAIR government's efforts to make a case for Britain to join the European Economic and Monetary Union (EMU). Critics point out, however, that the economy is doing well outside of EMU, and they point to public opinion polls that continue to show a majority of Britons opposed to the single currency. Meantime, the government has been speeding up the improvement of education, transport, and health services, at a cost in higher taxes.

It seems to me that the UK is the only one doing semi-favorably, and still they are no where near the USA.

oh and this came out today...

[tinosa.livejournal.com]

Apparently Europe's BIGGEST economy is suffering the worst unemployment since it was almost annihilated in 1945! Europe sure does have a better economy than the US huh? hahhaa

http://story.news.yahoo.com/news?tmpl=story&cid=509&ncid=509&e=20&u=/ap/20050202/ap_on_bi_ge/germany_jobless

BERLIN - German unemployment hit a new post-World War II high in January, passing the politically sensitive 5 million mark for the first time in Europe's biggest economy, government figures showed Wednesday.

The unadjusted jobless rate in Germany rose to 12.1 percent, with 5.037 million people out of work in the nation of 82 million, as a new benefit system swelled the ranks of the registered jobless, the government's Federal Labor Agency said. The total rose by 573,000 from December.

[hepcrat.livejournal.com]

I've seen about four different versions of that cartoon.

[wyzwun.livejournal.com]

Haha, it just never gets old.