Tuesday, March 06, 2012
In 2010 the EU economy grew by 1.9% and the American one by 3% so we are clearly doing much worse than the world average. But in reality it is worse than that because our own growth is being counted on both sides of the figures.
The normal world figures must include the EU and USA. The EU makes up 25.7% and the USA 23% of human GDP.
Thus taking the Humanity outwith US & Europe (HOUSE) countries (an acronym not widely in use since I just invented it but it builds on the BRIC one, which is more limited) alone, 51.3% we find the average growth rate of them must have been 7.05% . EU growth accounted for 0.488 of the world 4.8%, the US was 0.69 and the rest of the world thus 0.362 or 7.05%.
If the average growth rate of the rest of the world is 7% our 1.9% (barely a quarter) or now slipping back into recession can only be explained by the degree of political parasitism imposed by our masters.
The good news is that if the average growth rate of the world is actually 7%, an awful lot of which is still very badly ruled, then there is no question that we can, at the very least, reach that average as soon as we are allowed to and I suspect considerably exceed it whenever the political will is there.