Conrad Black on Europe and the U.S. Economy
Conrad Black has a column that, among other things, notes that President Obama is inaccurate when he blames America's economic weakness on Europe:
That is the same recovery that he could not produce overnight, and now cannot produce because of the shambles in Europe, which falls on America because Europe is "our greatest trading partner." This is more diaphanous rubbish than most such apologia: Foreign trade takes less than 15 percent of American production; Europe, even when taken as a whole, is only the fifth trading partner (after Canada, China, Mexico, and Japan); Europe generally is not in worse condition than the U.S. (Germany especially is functioning much better); and concerns about the 17-nation euro have largely driven the investment of $900 billion by Europeans in the United States since 2008, almost twice the previous traditional rate.
by Editor | Jul 12, 2012 at 10:45 am
Related Topics: Europe, President Obama
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