Eurozone Gets the Recession Blues

by Ryan on November 15, 2012

in Economy,Election 2012,Europe,Stupid government

In the second and third quarters of 2012, the economy of the Eurozone countries fell 0.2% and 0.1%, respectively.  Accordingly, two consecutive quarters of economic contraction signals an economic recession.  Also, economic indicators suggest that both Germany and France are likely to contract in the fourth quarter, compounding the Eurozone’s problems.  Ireland, Spain, the Netherlands, and of course Greece are facing massive deficit woes this year too.  Essentially, the Eurozone is on the brink of a massive slowdown and its repercussions will likely reach our shores unabashedly sometime soon.

I personally think that we may already be very close to a recession here in the United States — our numbers have seemed awfully weak this year with no predictable turnaround on the horizon.  Too bad 62 million people voted to send America in the wrong direction last week.

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