The eurozone’s four major economies all have reported growth for the first time in nearly three years, according to a report from economist, columnist, radio host and international speaker Jerry Robinson, whose recent “Follow the Money Weekly” podcast discusses the issue.
“Germany, Italy, and France all registered expansion in the final three months of 2013, official figures showed, with France avoiding a dreaded double-dip recession and Germany, the region’s biggest economy, performing better than had been expected,” he reports.
“Along with Spain, which last month recorded its best quarterly growth since 2008, the countries led the 18-currency bloc to growth of 0.3 percent in the final three months of 2013.”
Robinson explains that the business cycle has two major economic themes: expansion and recession.
“Expansions occur when GDP figures are rising, and recessions occur when GDP figures are contracting,” he says. “According to economists, economies move from a period of expansion – which is defined as a period of time in which unemployment is shrinking while personal incomes and consumption is increasing – to a period of recession. And the cycle begins all over again as the recession gives way to an expansion, and on and on it goes.”
Robinson says that based on the latest GDP figures, the EU has now been expanding three quarters in a row.
“Pockets of confidence are beginning to emerge across Europe’s economy,” he says. “While Europe’s economy as a whole is still underperforming the U.S. and the U.K., things have certainly been improving on paper for Europe.”
He calls the development “big news.”
“There have been a lot of naysayers, dare I say many gloomsters and doomsters, who were certain that the European Union would never gain any traction,” says Robinson. “The EU is the dream of the globalist elites. A united Europe has been the dream of generations. Napoleon sought to unite the continent until he met his match in the Duke of Wellington near a little town in Belgium called Waterloo.”
Tom Cloud also joins the podcast for an update on precious metals investors.
Podcast is 1:07:36.
Jerry Robinson is an economist, published author, columnist, radio talk show host, and international conference speaker. Robinson has been quoted as an economic authority by USA Today, FoxNews and many other news agencies. His columns have appeared regularly in numerous print and web publications, including WND. In addition, Robinson is also the editor-in-chief of the popular economic newsletter, “Follow the Money Quarterly.”