Is America still the land of opportunity
[QUOTE=Goblin]It would include the main countries like England, Germany, Italy. I'm not sure about France but I know that Spain is booming right now. There appears to be an effort to equalize the economic performance of these countries by lowering the output of highly productive ones like Germany and stimulating countries that have previously been "lazy" (too many siestas) to harmonize all European nations into an equal economic system.
It would also obviously include European nations that have traditionally been poor and well below the income levels of the United States. Everything in Europe is very expensive and after tax disposal and discretionary incomes are a fraction of what people earn in the US. Business opportunities are limited, unemployment is very high despite of a far more qualified labour force and a much better system of eduction at all schooling levels. I lived in Europe for many years and have many friends there so I know what I'm talking about.
Professional and vocational standards are far more demanding as are required levels of education.
Goblin[/ QUOTE]When I look at articles such as [url]www.brillig.com/dept_clock/[/url] I think how long can America sustain that amount of dept.
I'm English lived in England all my life and as countries are close allies. I don't think you' have to live in a country for many years or have many friends' to know when things are not 100%.
I think the unemployment rates are running at about 4.7% in both countries. As for recession as when I left 2 months ago everything was OK.
I would also hazard a guess that a greater amount of Americans are on the poverty line than in England.
Sure America is a country of opportunity, but I don't think everything is as Rosie as you think.
FH
Well let's put it this way.
The people in America that are living on the poverty line would have to be institutionalized in England or Germany.
Goblin
European standard of living
When I am stuck in rush hour traffic in my city (the one where Mercedes and Porsche are built) I don't have the impression of a low standard of living.
It is certainly true, that most Europeans see a lot less of their gross income in their pocket than their U.S. Counterpart, on the other hand, a lot of things that cost you Americans a **LOT** of money is already taken care of:
Health insurance - already paid for.
Schools and Universities - free.
Pension fund - already paid for.
Unemployment insurance - paid for.
Public transportation - available, safe and affordable in many cities.
Freeways - without potholes.
I don't claim to live in paradise, certainly not. We do have out problems, the biggest being that the social systems that have been built during toe post war years of steady economic growth are getting too expensive. And, a lot of people, myself included, would like to have more choice what to do, and for example how to secure their retirement, than having the government make all these decisions for them. But you will hardly find anybody on the old continent who would not advocate a medical system open for everybody, regardless of income.
So, be careful, don't compare American Apples with European Pears.
El Alemán