why is US economy considered best though money value for UK is more than us???
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Comment by don't panic
Actually the perception in Europe is that the U.S. economy is on the way down and the concern is how that will affect the rest of the world. Americans are about the only ones, IME, who think that the U.S. economy is best.
Posted on August 29, 2010 at 8:24 pm
Comment by KevinStud99
People who actually look at economic statistics can clearly see that the US economy is far superior to any in Europe, and is quickly extending its lead. (Why Europeans are not smart enough to do this, I can’t say). Americans are substantially wealthier than Europeans, but recently that gap has been increasing, and at this rate within a couple decades Europeans will appear to be living in 3rd world poverty by American standards.
But to your question, the exchange rate of the US/UK currencies tells you nothing about the relative economies. Why would it? They are two different currencies with utterly different origins. The Pound Stirling was originally defined as one pound of silver. The US dollar was originally defined as a certain number of grains of gold. And things have evolved from there. They were never of equal value, and in the past century or so the Pound has fallen from $4 to bounce around $1 – $2.
Posted on August 29, 2010 at 8:39 pm
Comment by israelgalilee
US economy is heading for a crash!!!
Posted on August 29, 2010 at 9:39 pm