Source: NYT

Category: MacroNotes

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “Economic output in Europe has yet to return to its peak level”

  1. nayyer ali says:

    That graph is way off. Assuming they are looking at real GDP the US is only about 2% above the Jan 2008 level based on FRED data. If the graph is of nominal GDP then the US number is accurate, but that is does not reflect the true level of economic expansion since the bottom. Are all the countries reported as nominal?

  2. DeDude says:

    Europe knocked itself silly by austerity. If not austerity in their own country then by demanding austerity in their main trading partner countries. With spending being 70% of GDP you cannot grow your GDP by reducing spending. This is fifth grade math and huge numbers of supposedly trained “economist” can’t get it right.

  3. Disinfectant says:

    nayyer,

    This chart of France GDP confirms the data.
    http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_mktp_cd&idim=country:FRA&dl=en&hl=en&q=france+nominal+gdp+chart

    If you point at the question mark next to “Gross Domestic Product”, it says it is not adjusted for inflation (i.e., nominal GDP).