Could Europe’s Woes Benefit the USA?

Karl Smith thinks so:

If the euro zone gets caught in a deflationary spiral, real European interest rates will rise and the euro will tend to appreciate.

Under this scenario, Eurozone exports become increasingly less competitive against American exports. At the same time, the struggling European economy will likely reduce it oil imports.

This creates dual positive pressure for the United States which would see cheaper energy at the same time as more robust demand for manufactured goods.

‘Islamophobia’ is Suspiciously Common

Karen Armstrong in the Globe:

We’re witnessing a surge of virulent Islamophobia in Europe, especially in the Netherlands and some parts of Scandinavia. And sadly, this seems to have crossed the Atlantic.

It’s almost as though people with exposure to muslims don’t want them around. Since Armstrong mentions Scandinavia, let’s take the case of Sweden:

“It is not as wrong raping a Swedish girl as raping an Arab girl,” says Hamid. “The Swedish girl gets a lot of help afterwards, and she had probably ****** before, anyway. But the Arab girl will get problems with her family. For her, being raped is a source of shame. It is important that she retains her virginity until she marries.” It was no coincidence that it was a Swedish girl that was gang raped in Rissne – this becomes obvious from the discussion with Ali, Hamid, Abdallah and Richard. All four have disparaging views on Swedish girls, and think this attitude is common among young men with immigrant background. “It is far too easy to get a Swedish whore – girl, I mean;” says Hamid, and laughs over his own choice of words.