In Europe people can still feel the aftermath of the financial crisis, while in the US things are looking a lot better already. Our economy is clearly picking up speed and that is something Europe can only dream of right now.
The difference between Europe and the United States has grown dramatically after the crisis broke out. The US central bank took action almost immediately, while the European central bank wanted to solve the problem by restructuring.
Only when all Eurozone countries have their act together again, the European economy can start to grow again. We know meanwhile that the original plan did not work out perfectly and the ECB is looking for an emergency solution (like quantitative easing).
The US Economy Is Doing Well
On the chart above we can see that the US economy has made a great comeback. All important macro figures that are visible on the chart have moved north of the levels that were recorded before the financial crisis broke out.
It is not so surprising that economists are rather happy about the US. We do have to underline that things would have not looked so bright without the interventions of the Fed, although the disadvantage is that the US government now has a lot of debt.
