I think Europe needs to focus on real estate and improvement of urban areas. I believe the US must completely create urban public infrastructure from scratch. In terms of GDP by the way with the value of the dollar, ours is only getting stronger, while yours is getting weaker.
Gross capital formation in Europe isnt declining despite the financial downturn, imports are growing and exports arent yet in negatives.. All compared with same quarter last year. As for gross capita formation, the decline in the US is -4% compared with same quarter last year, GDP is about the same as Europe 0.7% compared with 0.6% growth compared with same quarter last year, but both will dip under. US exports have seen a surge, but last quarter it fell massively. Imports are also declining and in negative about 2% since same quarter last year. US jobs are lost in record speeds, but European jobs seems rather safe, our companies have tons of wealth and innovate like always. Yours are going bankrupt. Despite Spains massive job loss 7%-14% in a short time, European unemployment rates stays stubbornly at the 7, while the US unemployment have risen from 4% some 1 year ago to current 6.7%, thats 2.7% in one year, while Europe have lost about 0.7% in one year.
Aside from that your debt and deficits rate are enourmous, while European rates are very moderate. I dont like that your economy is collapsing, but it is, the sooner you realize that, the sooner you can do something about it..
GDP AND EXPENDITURE COMPONENTS
Europe have growth in all compared with quarter 3 last year, except consumer spending which is now at 0% growth compared with a year ago. The US have falls in imports, consumer spending and gross fixed capital formation. Dramatic falls in some of them.
Despite the strong Euro, exports are still growing here showing how solid the economy really is and how attractive our manufacturing is.