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Posted by Shovelhead (Mike McLaughlin) on March 19, 2008 at 10:59 a.m. (Suggest removal)
The European Union has overtaken the U.S. as the world's No. 1 economy due to the continued dramatic fall of the dollar, according to a Reuters report.
The U.S. Gross Domestic Product, or GDP, for 2007 is officially estimated at $13,843,800 billion. The 2007 GDP for the 15 EU countries is estimated at 8,847,889 billion euros, the report said.
That means when the euro yesterday topped $1.56, the EU officially became the largest economy in the world.
In a Financial Times commentary published Monday, former Federal Reserve chairman Alan Greenspan declared the current financial crisis in the U.S. "is likely to be judged in retrospect as the most wrenching" since the end of World War II.
story is at
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=59256
Posted by Leeta (Leeta Rice) on March 20, 2008 at 1 a.m. (Suggest removal)
It's really scary Mike. I've lost, you've probably lost and the worst thing is....as a country we've all lost. I just wish there were an easy way to explain to everyone how they need to get involved on a national level.
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