{"id":6298,"date":"2012-11-28T16:33:25","date_gmt":"2012-11-28T21:33:25","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6298"},"modified":"2012-11-28T16:33:25","modified_gmt":"2012-11-28T21:33:25","slug":"the-eurozones-double-dip-recession-is-entirely-self-made-europp","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/","title":{"rendered":"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP"},"content":{"rendered":"<p>Good comparison of relative unit labor costs for EZ countries in this article by Paul De Grauwe. Germany is lowest at 85-90. Greece and Portugal highest at 110-115, with Italy, Spain and Belgium next at 105-110. Ireland has made the most spectacular recovery, falling to 95 from a high 115-120 in 2007.<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>The position of Germany stands out. During 1999-2007, Germany engineered a significant internal devaluation that contributed to its economic recovery and the build-up of external surpluses.<\/p><\/blockquote>\n<p>via <a href='http:\/\/blogs.lse.ac.uk\/europpblog\/2012\/11\/28\/eurozone-double-dip-recession\/'>The eurozone\u2019s double-dip recession is entirely self-made. | EUROPP<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good comparison of relative unit labor costs for EZ countries in this article by Paul De Grauwe. Germany is lowest at 85-90. Greece and Portugal highest at 110-115, with Italy, Spain and Belgium next at 105-110. Ireland has made the most spectacular recovery, falling to 95 from a high 115-120 in 2007. The position of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33],"tags":[962,1295,2905],"class_list":["post-6298","post","type-post","status-publish","format-standard","hentry","category-uk-europe-countries-regions","tag-debt-crisis","tag-euro-zone","tag-relative-unit-labor-costs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Good comparison of relative unit labor costs for EZ countries in this article by Paul De Grauwe. Germany is lowest at 85-90. Greece and Portugal highest at 110-115, with Italy, Spain and Belgium next at 105-110. Ireland has made the most spectacular recovery, falling to 95 from a high 115-120 in 2007. The position of &hellip; Continue reading &quot;The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-28T21:33:25+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP\",\"datePublished\":\"2012-11-28T21:33:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\"},\"wordCount\":95,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"debt crisis\",\"euro-zone\",\"relative unit labor costs\"],\"articleSection\":[\"UK &amp; Europe\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\",\"name\":\"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-11-28T21:33:25+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/28\/the-eurozones-double-dip-recession-is-entirely-self-made-europp\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\",\"https:\/\/au.linkedin.com\/in\/colintwiggs\"],\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"The eurozone\u2019s double-dip recession is entirely self-made. &#124; EUROPP - the patient investor","og_description":"Good comparison of relative unit labor costs for EZ countries in this article by Paul De Grauwe. Germany is lowest at 85-90. Greece and Portugal highest at 110-115, with Italy, Spain and Belgium next at 105-110. Ireland has made the most spectacular recovery, falling to 95 from a high 115-120 in 2007. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1DA","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6629,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/05\/the-eurozones-struggling-economies-are-increasingly-selling-citizenship-to-raise-much-needed-capital-europp\/","url_meta":{"origin":6298,"position":0},"title":"The eurozone\u2019s struggling economies are increasingly selling citizenship to raise much needed capital. &#124; EUROPP","author":"Colin Twiggs","date":"February 5, 2013","format":false,"excerpt":"How far should countries go to encourage foreign investment? Jelena Dzankic writes that in a time of economic crisis, some countries in Europe are now seeking investment in exchange for citizenship. Assessing recent developments in Bulgaria, Hungary, Portugal and Ireland, she argues that despite the obvious financial benefits to such\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6906,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/08\/quantitative-easing-does-not-address-the-fundamental-problems-underpinning-struggling-western-economies-europp\/","url_meta":{"origin":6298,"position":1},"title":"Quantitative easing does not address the fundamental problems underpinning struggling western economies. &#124; EUROPP","author":"Colin Twiggs","date":"March 8, 2013","format":false,"excerpt":"John Doukas questions the benefits of quantitative easing: ...excessive money supply fails to increase real economic activity because it raises the labour cost while it lowers the cost of capital. Depressing yields at home, as a result of quantitative easing, in an open economy setting, leads yield-seeking investors into higher-risk\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6514,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/19\/cutting-taxes-is-a-largely-ineffective-strategy-for-attracting-foreign-investment-europp\/","url_meta":{"origin":6298,"position":2},"title":"Cutting taxes is a largely ineffective strategy for attracting foreign investment &#124; EUROPP","author":"Colin Twiggs","date":"December 19, 2012","format":false,"excerpt":"Aidan Regan writes: The Irish have the second best trade surplus in the eurozone, and productivity per worker is three times higher than Germany..... The truth of this fairy-tale is that US multinational corporations are engaged in transfer pricing. They locate profits in Ireland to take advantage of the low\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4834,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/10\/laffer-increasing-taxes-will-cause-a-double-dip-recession\/","url_meta":{"origin":6298,"position":3},"title":"Laffer: Increasing taxes will cause a double-dip recession","author":"Colin Twiggs","date":"July 10, 2012","format":false,"excerpt":"Art Laffer of Laffer Associates warns that attempts to increase taxes on the top 2% of earners will drive the economy back into recession: \u201cThey employ everyone else, invest capital and provide the economic recovery\u201d he said. http:\/\/video.cnbc.com\/gallery\/?video=3000101378.","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":612,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/03\/european-m1-signalling-recession-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":6298,"position":4},"title":"European M1 signalling recession &#8211; macrobusiness.com.au | macrobusiness.com.au","author":"ColinTwiggs","date":"September 3, 2011","format":false,"excerpt":"I noticed that the ECB had provided an update for July today and it seems to confirm, assuming previous trends hold, that Europe is headed for, or is already in, recession. The Eurozone\u2019s narrow money (M1) trends continue to weaken, signalling that the slowdown in economic growth is going to\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6325,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/noam-chomsky-europes-policies-make-sense-only-on-one-assumption-that-the-goal-is-to-try-and-undermine-and-unravel-the-welfare-state-europp\/","url_meta":{"origin":6298,"position":5},"title":"Noam Chomsky: \u201cEurope\u2019s policies make sense only on one assumption: that the goal is to try and undermine and unravel the welfare state.\u201d &#124; EUROPP","author":"Colin Twiggs","date":"December 3, 2012","format":false,"excerpt":"Noam Chomsky in an interview with EUROPP editors Stuart A Brown and Chris Gilson: Europe\u2019s policies [austerity during a recession] make sense only on one assumption: that the goal is to try and undermine and unravel the welfare state. And that\u2019s almost been said. Mario Draghi, the President of the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6298"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6298\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}