We have yet more exciting economic news this morning! The eurozone released its Q1 figures for GDP and they were not good. Real GDP fell by 0.6% from the previous year while US GDP was increasing:
Assuming I did this chart correctly—never a sure thing when dealing with Eurostat figures—US GDP has outpaced EU GDP by more than 5% over the past few years, with most of the difference coming in the past couple of quarters.
Perhaps this will change as Europe recovers from COVID-19. In the meantime, US COVID rates are lower than Europe; US vaccination rates are higher than Europe; and the US economy is growing quite a bit faster than Europe's. Now do you see why I'm basically bullish on America compared to the rest of the world?