Comments for Europe's Growth Has a Limited Impact on the United States at http://www.cepr.net , comment 1 to 3 out of 3 comments http://www.cepr.net Wed, 22 May 2013 10:42:11 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/europes-growth-has-a-limited-impact-on-the-united-states#comment-16984 There have been so many headlines written and broadcast by media outlets calling the European crisis will dictate whether Obama will or lose. In fact, one well-respected talking head said the only toss-up state that matters in this cycle is...drum roll, Germany. - James Wed, 20 Jun 2012 08:23:16 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/europes-growth-has-a-limited-impact-on-the-united-states#comment-16977 I think that you may be missing one factor here. While I am no believer in the Confidence Fairy, it does appear that something along that line at work here. Hearing perpetually dire warnings about a potential European economic meltdown does encourage money hoarding and thus inhibit demand. Further, of course, in some industries, autos for instance, Europe is a major U.S. export market. - Stuart Levine Wed, 20 Jun 2012 04:16:42 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/europes-growth-has-a-limited-impact-on-the-united-states#comment-16970 The NYT piece struck me as off the mark. The bottom line is that the Times is calling for an ongoing bank bailout. A number of European banks and probably some banks in the United States are likely to fail without ongoing bailouts. To be sure the arcane structure of the international currency and bond speculative trading by banksters and the lack of information on the exposure of banks to specific risks make predicting the effects of the Merkel policies difficult and uncertain. But the recent trading debacle at Citibank resulted from speculative trades involving currency and bonds is a far more likely and far more destructive result of a slowly evolving Eurozone crisis. The steps taken by Germany to address the Eurozone crisis and those proposed by others are essentially ongoing bank bailouts. The austerity is but a reflection of the fact that governments have not been willing to structure the bank bailout in a manner that protects their economies and people. We have seen this in the United States and Japan. We are watching it happen in the Eurozone. - Ron Alley Wed, 20 Jun 2012 01:25:45 +0100