http://www.slate.com/id/2244424?nav=wp

America believed Europe had a competitive advantage over the United States because of its greater social cohesion and careful coordination—at both the national and transnational levels. The Old World's safety net provides health care to all and doesn't leave those down on their financial luck to fend for themselves. As a result, Europe weathered the economic downturn without suffering the mass bankruptcies, foreclosures, and rising hunger the United States has experienced.

But now the bonds that tie Europe together are coming asunder because of the travails of its less economically robust members. As Greece struggles to cope with high debt and a dysfunctional political system, it is threatening to drive a stake into the heart of the European monetary union. In theory, Europe's modus operandi—a single monetary policy for the 16 European Union countries that use the euro—was supposed to help weaker members and allow for swift coordinated action in times of stress. But in practice, it's precisely the opposite. "The monetary union allowed Greece to push the solution to problems much further out in the future," says Daniel Gros (no relation), director of the Centre for European Policy Studies. "It turned out to be a fair-weather construction."

And when the clouds over Europe turned dark, the response was tough love, not aid and comfort. Europe's central powers have essentially told member countries that run into trouble—first Ireland, now Greece, Portugal, and Spain—to forget about bailouts. They must slash budgets, cut wages, reduce pensions, and generally stop sitting around in cafes watching soccer. Once again, the United States, having taken its medicine quickly, looks better by comparison. Partly as a result of the most widely watched Greek drama since Euripides, the dollar has rallied strongly against the euro in the last three months.

There's more. London's goal of surpassing New York as a financial center crumbled in the fall of 2008; the United Kingdom's financial sector is arguably in worse shape than America's. Two years ago, Dubai was going to be the next Las Vegas, New York, and Miami rolled into one, all because it was proving more adept at diversifying its economy from energy into tourism, services, and financial services. Now it's looking like the next Scranton, Pa.

Meanwhile, despite all the hand-wringing over unemployment and Washington's pathetic inability to deal with health care, the U.S. economy grew at a 5.7 percent annual rate in the fourth quarter. In the same quarter, productivity grew at a 6.2 percent annual rate—about three times the historical average. These numbers show America still has a competitive advantage in the disciplines that matter most right now: restructuring, adapting, and recovering.

All this and a British think tank is suggesting cutting the UK's work week to 21 hours!


http://news.bbc.co.uk/2/hi/business/8513783.stm

IT'S MY MONEY! THAT I WORKED FOR! SOMEBODY OUGHTA DO SOMETHING ABOUT THOSE FAT CATS IN WASHINGTON! IT'S ADAM AND EVE, NOT ADAM AND STEVE! NO-BAMA! IS THIS THE CHANGE YOU VOTED FOR? IS IT 2012 YET? IT'S ADAM AND EVE, NOT ADAM AND STEVE!
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Mr. Misery,

Please drink some more. Really. It will wash down those cheese sticks nicely.

§ Wrote:
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> Mr. Misery,
>
> Please drink some more. Really. It will wash
> down those cheese sticks nicely.


Wow §, post much? Are you trying to beat a Washintonelocian record? At least you are posting under your normal screen name versus the multitude of others you created. Still though, it doesn't make you any less gay.

Hi there, Cary.

§ Wrote:
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> Hi there, Cary.

Cary'§ your choice?

It doesn't matter. I have work for you, kid.