As well the disribution of income in France and most of Europe is not as outrageously distorted as it is in America. When you look at the distribution of wealth in America it mirrors some third world country. How can one justify paying millions, hundred of millions , and even billions to CEO”s, hedge fund managers, and all the rest of the financial wizards who capture most of the countries wealth. Then after buying a Congressman or even better a Senator, they can lower there tax rate so that their minimum wage secretary pays a higher tax rate. These people dont earn millions or billions they steal it. . As well once the theft has been completed the thieves and their descendents will tell you how they worked their fingers and minds to the bone , and thus are deserving every penny. You dont live in a Democracy you live in a Kleptocracy.

You certainly dont live within a free market system. Socialism for the rich and free market competition for the “many”. The amazing part of this is that the system has lasted this long. But then again the propaganda machine in the U.S. is the best in the world.

Regards

The phrase “idle rich” was coined to describe the leisure class… those who could live off their capital's yield without having to engage in actual labor.

Being idle or rich is not the natural state of humanity. It is neither a human right nor an entitlement but the result of hard work or good fortune. Ask the Chinese or post-Soviet Russians…

That has become a difficult concept to understand for some Western cultures who have been living off the efforts of their elders (German Wirtschaftswunder generation) or the few.

Or those who are about to vote someone into office who promises the many the fruits of labor of the few.

Overall, I believe that the still dominant American attitude toward work will make the country and economy far more competitive than those countries who consider 6 weeks paid vacation their birthright.

U.S. percent of world economy was 50% after wwII and it is down to about 24% and declining. The European Union has a combined GDP of about 14.5 trillion vs the U.S. 13 trillion. So the U.S. is not the largest economic zone. China will be impacted by the American economic decline but they will still be growing quite rapidly. Asia will still grow as will India. Yes the weight of America is declining and at an excelerated pace.
I do believe the catasrophe will be felt the greatest by the American population.

I find you r vacation and work hour comments very interesting. In an economy based on the reverse logic that people were born to serve the economy rather than the economy serving the people I guess that Americans should be confined to the job site with no outlook for a family vacation.

The world economy exists in the form it does not because it is part of nature, or it was handed to us by Moses afer he came down from the mount, it is a human construct that can be better designed to serve human needs.

All your hard long hours at work and vacation avoidance certainly allows the owners of the country to have good vacations. Think Swizerland, the Pacific Islands or any numbers of other exotic locales. Do they ever thank you for sending them there?

Regards

Against pretty much everything, including the Canadian dollar?

And if the recession takes and Americans not just stop buying houses (and Canadian lumber, copper etc.) but Chinese- and European-made imports — whose production requires Canadian, Australian, African minerals, metals, oil etc.), I'd be curious just what would sustain even current levels in the A$, the C$, the NZ$ etc.

Probably not the propensity for shorter work days and longer vacations…

Correct me if I'm wrong, but hasn't the Canadian economy registered negative growth ALREADY, as the US is still eked out nominal, reduced POSITIVE growth?

A negative outcome for America will translate into a catastrophic outcome for the Canadian, European, AND Asian economies. Who comes out ahead? Five bucks says it's neither Europe nor Canada….

Your dollar is on its way down and nothing will stop it. The world is awash in devalued greenbacks and when the world decides enough is enough a no new loans come your way then the jig is up. Foriegners including Europeans will however be able to buy cheapened U.S. assets.

Your fondess for looking to the past when the U.S. held much of the worlds economy for its benefit
does not change the outcome for America. Relative decline and certainly the rest of the world following the European model of free market but with less predatory inclinations.

Regards
I am not from Europe. I am to your north,another socialist hell hole from what CNN portrays.
Regards

Cordially yours,

J. Christoph Amberger

Are Europeans lazy because they dont want to work twelve hours a day? Or are they lazy because they dont want to align there holiday schedule with America where most working people arent even eligible for paid holidays. Perhaps they are lazy because they want to take time off to watch American working people being fleeced within their ” free market wonder” while the talking heads like you who produce nothing but free market hot air applaud the pilfering. Free markerers are so boring. Enless cliches and intellectual pablum. You can feed it to docile uneducated Americans but I think Europeans dont buy in.

The American model is dead. See it ,believe it.

Regards