Tuesday, March 18, 2008

Perhaps the Amero is coming

U.S. loses No. 1 ranking as dollar drops

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.

Posted by plato @ 06:52 PM (784 views)
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5 thoughts on “Perhaps the Amero is coming

  • tyrellcorporation says:

    Trichet’s plan all along I reckon.

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  • You won’t see this featuring very heavily in western new sources!!

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  • The whole point of destroying the USD is to replace it, along with the CAD and the Mexican peso, with the Amero.

    This is the second phase of replacing national currencies with continental ones.

    Oh and it is also why Sterling is being destroyed, so that we beg to join the Euro.

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  • Cristiano Barbaro says:

    It’s all numbers guys… I don’t see this massive growth around me in Italy… Possibly the only good thing about having a strong currency is that inflation may be somewhat lessened, but prices are increasing here too… I guess the Euro is just not appreciationg fast enough… inflation here the news says is around 5%… so my guess is more

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  • European-bear says:

    Only on real exchange rates. If adjusted for purchase parity, which most serious economists do, you will find the USA is still (much) bigger. The $15 trillion in the USA will purchase more that the 8.8 trillion Euros in Europe. It similar to the story a while back that the average UK resident was now better off than Americans. But we all know that a visit to the US we find that things that cost $10 in the US cost £10 in UK……

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