Why I’m Glad Journalists Don’t Run the economy….

While perusing Newsweek’s International edition I ran across this sentence in a story about social and economic challenges in the EU.

“[The EU’s] economy is outperforming the United States.”

Holy tap-dancing Christ! What on earth is this based on?

So I looked and looked and looked and came across this article reporting on a business confidence survey that for the first time in five years showed Europeans more optimistic about their region’s future economic prospects than Americans over the same period. Oh if only believing made it so!

Here’s a reality check for ol’ Denis:

EU economic growth was only 2.8% in 2006. It was 3.3% in the US – the slowest since 2003.

EU unemployment was 7.7 percent. US unemployment remains steady at 4.5%

So I’m not sure how Denis can conclude that things are better on his side of the pond. The only thing I can think of to account for the inexplicable difference in optimism is the 2006 election media which spiked positive economic news and amplified the bad. Economically things in the US remain far ahead of the rest of the G-7.

Oh yeah this genius is the author of “Chavez is a populist, not a socialist”. Boy was he right.

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